AnnounceAnnounceObtained a $9 million Series A financing, led by Paradigm Fund, followed by investment funds such as Bain Capital and 1confirmation.

The official stated that the timing of this financing was just right, and the financing was completed just as the Cosmos mainnet was launched. At 7 a.m. Beijing time on the same day, with the launch of the first official Hub, the Cosmos mainnet was launched. Part of this financing will be used to support the continued development of Cosmos Network and its ecosystem; it will also be used to expand the size of the Tendermint team and strive to achieve a sustainable business model.

It is reported that Paradigm, the leading investment fund, was co-founded by Fred Ehrsam, co-founder of Coinbase, Matt Huang, former partner of Sequoia Capital, and Charles Noyes, former employee of Pantera Capital. It has raised 400 million US dollars so far. The investment direction mainly includes: cryptocurrency (ICO), Early projects in the fields of blockchain and exchanges; Bain Capital is an international private equity investment fund with a management fund of more than 65 billion U.S. dollars. Investment projects in the blockchain field include stable currency Basis, cryptocurrency exchange Seed CX, "Go Centralized investment bank” CoinAlpha; 1confirmation is an encrypted asset investment fund, which has invested in stable coins Maker Dao and Basis, decentralized exchange protocol dYdX, and exchanges Vest, OpenSea and Harbor.

andTendermint CoreandCosmos SDK. At the same time, Tendermint Inc is also a cross-chain projectCosmos NetworkThe main builder of Cosmos Network, a decentralized network of independent, scalable and interoperable blockchains.

• Tendermint Core
  

In the Cosmos vision, the blockchain is divided into application layer, network layer and consensus layer, and Tendermint Core, as a solution, packages the network layer and consensus layer of the blockchain into a general engine, allowing developers to focus on the application layer Rather than complex underlying protocols.

On the network layer, Tendermint Core uses the gossip protocol, which is the core technology of the P2P network. Bitcoin uses the Gossip protocol to propagate transaction and block information; on the consensus layer, Tendermint Core uses Byzantine BFT + POS. The Byzantine BFT algorithm requires the verification nodes in the network to broadcast and vote round after round, and finally achieve the consistency of the entire network, so as to offset the problems of node offline, network communication delay, and malicious node disruption. The Byzantine algorithm requires at least 2/3 of the nodes to be honest nodes. In Tendermint Core, due to the POS mechanism, the verification node selection criteria is the first 2/3 of the pledged token equity (ie quantity).

Cosmos believes that the advantages of Tendermint Core are: public or private chains can be deployed on Tendermint; Tendermint can process thousands of transactions per second; once a block is created, users can rest assured that the block has reached the final Consensus, where more than one-third of validators are honest (Byzantine), never create a fork; moreover, Tendermint's fork accountability can confirm its validation by identifying those who caused malicious forks in the chain responsibility of the author.

• Cosmos SDK

The goal of the Cosmos SDK is to create an ecosystem of modules that allow developers, instead of writing every function of an application from scratch, to create new modules to customize their applications. These common modules cover most of the functions required by the application layer, such as: staking (mortgage mechanism), slashing (punishment mechanism), IBC (cross-chain function), accounts, governance, rewards & fees, etc.

The beauty of the Cosmos SDK is that its modularity allows developers to port essentially any existing blockchain codebase on Golang. For example, Ethermint is a project that ported the Ethereum Virtual Machine to an SDK module, Ethermint is exactly like Ethereum, but also benefits from all the properties of Tendermint Core. All existing Ethereum tools (Truffle, Metamask, etc.) are compatible with Ethermint.

Currently, some representative projects that have chosen to use the Cosmos SDK and Tendermint Core are:

• Thailand's national digital identity platform, Tendermint aims to provide on-chain identities for Thailand's 80 million citizens.

• Binance, the world's leading cryptocurrency exchange, announced that its public chain Binance Chain will be built on Cosmos' Tendermint protocol, using DPoS and BFT consensus; in addition, its decentralized exchange DEX will also be developed based on the Cosmos SDK.

• Terra, a South Korea-based stablecoin project,its goal isBased on the Tendermint consensus engine, integrated into TicketMonster, a multi-billion dollar Korean e-commerce company.

includeinclude: European stable currency project e-Money, blockchain wallet IOV, cross-chain network IRISnet, cross-chain service provider Kava, blockchain video platform Lino, Ethereum Layer 2 solution Loom, ecological blockchain Regen Network, distribution Sentinel Network, an interoperable network layer for cloud-based services, and TruStory, a content verification platform.

Tendermint Inc is headquartered in the San Francisco Bay Area with offices in Berlin, Toronto and New York City. Currently, Tendermint Inc isLook forVP of Engineering, Head of Developer Relations, Senior Technical Recruiter and Developer Relations Engineer We are a globally distributed team.