According to the latest reports, it seems that in a nearly unanimous vote that was conducted not too long ago, Cosmos community members who are staking the ATOM token approved a proposal in order to launch the next major upgrade to Cosmos Hub.
Cosmos Governance supports Interchain Security
According to the online publication Blockworks, the v9-Lambda upgrade will establish the first version of interchain security (ICS) — also known as replicated security — . This is a service the Cosmos Hub will provide to a new generation of consumer chains in the Cosmos ecosystem.
Those consumer chains, in turn, will bring value to the Cosmos Hub, according to proponents — such as Zaki Manian, co-founder of Iqlusion.
“The right way to think about ICS is it’s in the family of staking primitives, like Eigenlayer: What Eigenlayer is to Ethereum, ICS is to Cosmos,” Manian told Blockworks.
According to the same publication, the network upgrade — expected to go live March 15 — was approved by over 99% of voters comprising about 58% of ATOM staked. This is seen as a vote of confidence in the network, according to the pseudonymous general manager of Neutron, Spaydh.
“We expected it to be successful, but we didn’t expect how well received it was — it was a bit of a landslide,” he said in a Tuesday interview as the voting period neared its end.
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New bull run approaching
According to the latest reports, it seems that the One River Management CEO and CIO Eric Peters says he’s “extremely bullish” on the crypto markets. More than that, he said that he is expecting a powerful rebound for the nascent asset class.
In a new interview on the Bankless podcast, the head of the $2.5 billion crypto hedge fund recently acquired by Coinbase says tighter macro conditions triggered a rough bear market, but that the worst of it is likely behind us.