According to an announcement made by the Cosmos Interchain Foundation on February 20 in a Medium post, the nonprofit organization that was responsible for the creation of the Cosmos Interchain Foundation communications ecosystem has committed to spending approximately $40 million in 2023 to develop its core infrastructure and applications.
Almost fifty different blockchains, such as Tendermint Core (which has since been renamed CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol, all make use of the Interchain Stack. CosmWasm and Ethermint are two technologies that, according to the company, have become the “foundations of smart contract and Ethereum Virtual Machine (EVM) compatible blockchains.” The Internet Commerce Foundation (ICF) is helping to fund the development of both of these technologies.
Cosmos Interchain Foundation Has A Big Investment For 2023
The International Community Foundation (ICF) will provide funding for projects that, in addition to fundamental infrastructure, encourage the adoption and use cases of Cosmos. They include integration with other blockchain technologies such as Polkadot and Hyper Ledger, as well as initiatives such as the Interchain Development Academy, the Cosmos Interchain Foundation Developer Portal, and the Interchain Builders Program. Other similar programs include the Cosmos Developer Portal.
A “large backlog of applications” led to the suspension of the ICF’s public Small Grants Program in 2018, however, the organization has said that it has every intention of resuming operations of the program in 2023.
It intends to restart the program in due course and is inviting teams to seek out the Builders Program for mentorship and help in areas unrelated to finances. For the time being, the ICF advises software developers to make use of its ATOM delegation program to gain access to contribution benefits.
