CRYPTO 101 - Ep.643: The New Era for the Cosmos Ecosystem
Release Date: March 4, 2025
Introduction
In Episode 643 of CRYPTO 101, hosts Bryce Paul and Brendan Viehman delve deep into the evolving landscape of the Cosmos ecosystem. Joined by distinguished guests Josh Cincinnati from the Interchain Foundation and Barry Plunkett, founder of Interchain Labs, the discussion centers on Cosmos's unique approach to blockchain interoperability, its technical architecture, current applications, community dynamics, and future prospects.
Guest Introductions
Brendan Viehman kicks off the episode by introducing the guests:
-
Josh Cincinnati: With a rich background starting from his hobbyist days in Bitcoin in 2012, Josh brings extensive experience from roles at Block Cipher and the zcash Foundation. His journey reflects a deep-seated passion for cryptocurrency and its potential to empower individuals.
"Being able to say, define your own economic system, but not be forced to settle onto one chain or the other… that was really meaningful to me."
— Josh Cincinnati [01:19] -
Barry Plunkett: As the founder of Interchain Labs, Barry adds a strategic perspective, focusing on building tools and protocols that foster an Internet of blockchains.
"Our role is just the product builders in that, trying to bring people into the ecosystem, trying to give them the tools that they need."
— Barry Plunkett [10:52]
Bryce Paul shares his transition from public policy to tech, highlighting his stint at a hedge fund and eventual pivot to the Cosmos ecosystem after recognizing its potential during DeFi's surge.
"Crypto also just appealed to me because my background before that was in public policy… you can change the world with tech."
— Bryce Paul [04:05]
Mission and Vision of the Cosmos Ecosystem
Josh Cincinnati elaborates on the foundational mission of the Interchain Foundation:
"We believe that these technologies that are being developed… developers everywhere have a right to have more say in how they want to develop and build these things and have sovereignty and choice."
— Josh Cincinnati [08:12]
Bryce Paul contrasts Cosmos's approach with that of other blockchain projects like Ethereum and Solana, emphasizing Cosmos's vision of creating an "Internet of blockchains" rather than a singular dominant chain.
"Instead of building a blockchain and trying to get everybody to use that blockchain… Cosmos took the different approach of building an Internet of blockchains."
— Bryce Paul [10:30]
This philosophy underscores Cosmos's commitment to interoperability, open standards, and providing developers with the flexibility to build customized, interoperable blockchains.
Technical Architecture and Developer Perspectives
The discussion pivots to the technical underpinnings of Cosmos:
Brendan Viehman draws parallels between Ethereum's ecosystem and Cosmos, questioning the technical architecture in a user-friendly manner.
"Ethereum could kind of be compared to Cosmos and all the other like apps call it like AAVE could kind of be compared to… like Osmosis, which is built on Cosmos."
— Brendan Viehman [14:01]
Bryce Paul responds by highlighting Cosmos's flexibility for developers:
"You can use Solidity on a Cosmos blockchain. If you want to use a different language like Go or Rust, you can do that too."
— Bryce Paul [17:15]
This adaptability ensures that developers can leverage their existing skills or explore new languages, fostering a more inclusive and diverse development environment.
Josh Cincinnati adds that Cosmos's permissive and interoperable nature encourages developers to build without being constrained by a single ecosystem, fostering innovation and customization.
"Developers building these things care… to me and to a lot of people that have seen this happening time and time again in other ecosystems, it is just further validation that this sort of Internet of blockchains… is what is actually bearing out to be probably the final state for a lot of these applications."
— Josh Cincinnati [19:33]
Applications and Use Cases
Bryce Paul highlights the diverse range of applications currently being developed within the Cosmos ecosystem:
"In the past six months or so, there's been a lot of new AI chains that are emerging… decentralized platforms for AI training like Akash and Kudos."
— Bryce Paul [20:03]
Notable projects include:
- Artificial Superintelligence Alliance (ASI): Leveraging Cosmos for AI training ecosystems.
- Babylon: A Bitcoin staking protocol projected to stake around $10 billion worth of Bitcoin.
- Barachain: Incorporates a unique Proof of Liquidity mechanism, blending staking with DeFi functionalities.
Bryce Paul emphasizes that Cosmos attracts ambitious projects aiming to push the boundaries of what's possible in blockchain technology.
"We're super excited about… these kinds of decentralized communities and protocols that put users more in control and those can become parts of people's daily lives."
— Bryce Paul [34:22]
Community and Market Dynamics
Brendan Viehman addresses the community's sentiment regarding Cosmos's market performance, especially in comparison to price volatility and the rise of meme coins.
"There are a lot of people who think it's a bad fit for Cosmos… it's all this kind of really big out there stuff."
— Bryce Paul [22:35]
Josh Cincinnati reflects on the challenges of maintaining a cohesive community within a highly interoperable and customizable ecosystem:
"Because Cosmos is so permissive and interoperable… there's so many different places that are leveraging this tech and sometimes in ways that are somewhat hidden."
— Josh Cincinnati [26:01]
This decentralization can lead to scattered community efforts, making unified discussions and momentum harder to sustain compared to more centralized ecosystems like Ethereum or Solana.
Meme Coins and Speculative Trends
The conversation shifts to the presence of meme coins within the Cosmos ecosystem:
Brendan Viehman inquires about the status and potential of meme coins in Cosmos.
"Is there any meme coin trenches that the Crypto 101 listeners should be sludging through in Cosmos yet, or maybe plans to."
— Brendan Viehman [27:38]
Bryce Paul acknowledges the existence but notes their limited impact compared to other chains:
"There's a few. They're in different places. They aren't as big in Cosmos as they've been in Solana."
— Bryce Paul [27:38]
Josh Cincinnati voices skepticism towards meme coins, emphasizing a focus on enduring technological advancements over speculative trends.
"Meme Coins are another expression of that…but there's so much more that we can do and I'm excited about that."
— Josh Cincinnati [29:16]
Future Developments and Exciting Innovations
Looking ahead, both Bryce and Josh share their excitement for upcoming technological advancements within Cosmos:
Bryce Paul envisions a future where crypto applications become as seamless and user-friendly as traditional web applications, eliminating the cumbersome processes currently associated with blockchain interactions.
"For users what we want is it just works and you don't have to worry about it."
— Bryce Paul [35:41]
Josh Cincinnati underscores the pivotal role of privacy in the blockchain's evolution, predicting significant developments in privacy-centric applications.
"This is the year of privacy on the blockchain… the most interesting privacy projects are on Cosmos."
— Josh Cincinnati [35:44]
He further elaborates on the potential for innovative financial instruments enabled by Cosmos's flexible trust models, hinting at groundbreaking developments akin to traditional financial models like Black-Scholes.
"There might be other kinds of financial instruments… that may be newer or more interesting than financial instruments you can get in the traditional financial world."
— Josh Cincinnati [38:35]
Closing Advice and Final Thoughts
As the episode wraps up, the guests offer invaluable advice to both seasoned and new participants in the crypto space:
Brendan Viehman encourages listeners to stay grounded in the technology's fundamentals amidst market volatility.
"Stick to your principles… your conviction in an asset that's going to put you in a good place."
— Brendan Viehman [43:27]
Josh Cincinnati advises perseverance and focus on long-term technological advancements over fleeting trends.
"If you have a deep belief in where the future can go… you should pursue it and… stick it out."
— Josh Cincinnati [41:17]
Bryce Paul highlights the abundant opportunities within the nascent crypto industry, urging listeners to contribute their skills and engage with the ecosystem.
"If you just start engaging with people or you have a skill… you can get a job in the industry."
— Bryce Paul [43:27]
Conclusion
Episode 643 of CRYPTO 101 offers a comprehensive exploration of the Cosmos ecosystem, shedding light on its unique approach to blockchain interoperability, its vibrant and diverse applications, and the resilient community driving its growth. With insights from industry veterans Josh Cincinnati and Barry Plunkett, listeners gain a nuanced understanding of Cosmos's current landscape and its promising trajectory towards fostering an interconnected and user-centric blockchain future.
Connect with the Guests:
- Bryce Paul: Twitter @BP_IV400
- Josh Cincinnati: Twitter @JoshCincy
- Interchain Foundation: Twitter @InterchainIO
- Interchain Labs (Skip Protocol): Upcoming Twitter Handle
Stay tuned for more insightful discussions on CRYPTO 101, where we bring the world's leading crypto experts to empower retail investors with the knowledge for massive crypto success!