Sommelier partners with Mysten Labs to launch Cosmos smart contracts

Sommelier is a co-processing protocol for the Ethereum Virtual Machine (or EVM) and announced a research partnership with Mysten Labs in order to increase liquidity transaction speeds, launch smart contract applications on Cosmos Blockchain on Tuesday.

Sommelier was founded in 2020 by Zaki Mnian, a core developer of the Cosmos protocol. It is a test-net protocol that delivers enterprise-grade automated financial transactions like limit orders, batched order and portfolio rebalancing.

The blockchain, which combines Cosmos Stargate SDK and Tendermint consensus layers, with dual-way Ethereum bridges, will be used by Mysten to implement Move smart contracts programming. This will provide smart contract capabilities to the entire Cosmos ecosystem, as well to those on its Ethereum Gravity bridge.

Mysten Labs, a Web 3.0 infrastructure platform, was founded in 2018 by the cryptographical program engineers who are responsible for the blockchain architecture of Facebook’s crypto-payments platform Diem.

Mysten’s field experience will support scaling the Sommelier blockchain up to 100,000 transactions per seconds, or TPS.

Related: Data shows parabolic growth in layer two-based DeFi platforms and DEX platforms

Zaki Manian, co-founder of Sommelier, spoke positively about the partnership’s positive impact:

“We are completing the work to unleash Tendermint’s potential to become the fastest blockchain network within datacenter-class environments.

We are thrilled to partner with the best of Facebook’s previous team of cryptography and distributed computing experts who brought Diem & Novi to life.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Jason Basler

Jason Basler– Financial Updates My Name is Jason Basler and I am also the main source from the ‘Topnewsscoop.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor. Address: 4830 Crim Lane Dayton, OH 45402, United States of America Phone Number:  +1 937 727 7917 Email: [email protected]

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami