Is #Solana really opening a gate to #Cosmos?
Which ecosystem stands to benefit more?
I did some research on @Nitro_Labs and I share with you my conclusions. 🧵
In the simplest way, what is Nitro?
It is a #Solana VM compatible L2, on top of a #Cosmos L1.
More precisely, a SVM compatible optimistic rollup, on @SeiNetwork, a Layer 1 that is fully optimized for trading.
SVM is the #Solana equivalent to the Ethereum EVM. There are many chains that are EVM compatible outside $Eth ($Bnb, $Ftm, $Evmos, etc).
This is the first project making the Solana VM (SVM) a core development standard like EVM.
So what does it all mean?
Dapps will benefit from the SVM that esentially increase their performance and users will be able to access these dapps using the Solana @phantom wallet.
SVM also allows developers to deploy existing Solana smart contracts on Nitro without modification.
How does it work?
Nitro runs as an Optimistic Rollup of
@SeiNetwork . Basically the same way Arbitrum or Optimism work with Ethereum.
Nitro acts as the execution layer while Sei acts as Nitro's settlement and consensus layer.
Official documentation also explains, that the modular structure of Nitro, in the future will allow Layer 3s to be launched on top of it, offering an environment for high-performance rollups dedicated to a singular application.
A gateway to #Cosmos?
@SeiNetwork is a Layer 1 built using the Cosmos SDK and Tendermint Core. It's also IBC and ICA (Interchain Accounts) enabled, meaning it's entirely a Cosmos Chain.
(highly anticipated chain that really deserves a thread of its own.)
In this context Nitro apps will have access to IBC assets. In a way it means that "Solana apps" can now access the #Cosmos interchain economy.
Both Solana and Cosmos ecosystems will benefit.
However in my opinion value will mostly accrue to #Cosmos.
Solana devs will make direct contact with Cosmos tech and the App-chain thesis, while solana users will be introduced to IBC.
I'd say Nitro in Cosmos will be to Solana what for example $Aurora in $Near is to $Eth.
Estak
@CryptoEstak
Navigating the cryptoverse while it's still early. Writing my thoughts one at a time.