Cosmos Hub to Enhance Security with Permissioned Smart Contracts

Cosmos Hub is set to enhance security and expand functionality by integrating permissioned CosmWasm smart contracts into its upcoming v18 upgrade. This move, expected in mid-July, introduces a new layer of control over smart contract deployments within the Cosmos ecosystem.

Unlike traditional CosmWasm, where anyone can deploy contracts freely, permissioned CosmWasm mandates prior approval by Cosmos Hub governance. This rigorous approach minimizes the risk of exploits and ensures only high-quality, thoroughly vetted contracts are deployed on the platform.

By requiring governance approval, the likelihood of malicious code entering the system is significantly reduced, redundant or unnecessary contracts are discouraged, and the network remains clean and efficient. Additionally, permissioned CosmWasm provides the potential for complex functionalities that may be difficult or impractical through other means.

Cosmos Hub plans to utilize permissioned CosmWasm for deploying specialized Decentralized Autonomous Organizations (DAOs) like DAO DAO, which will manage specific governance aspects to enhance transparency and efficiency in decision-making. DAO DAO is expected to be the first application built on permissioned CosmWasm.

The Cosmos Hub team is actively seeking community feedback on guidelines for deploying CosmWasm contracts on the Hub. This collaborative approach ensures that the new features align with the specific needs of the Cosmos ecosystem.

In related news, Osmosis, a decentralized exchange within the Cosmos ecosystem, is celebrating its third mainnet anniversary. It has processed 210 million transactions, recorded 967,000 Osmosis addresses, and burned 1.8 million OSMO. The platform has also seen 364 million OSMO staked by 541,000 delegators, with 150 validators securing the network.

Overall, this integration of permissioned CosmWasm smart contracts and the growth of Osmosis exemplify the innovation and potential within the Cosmos ecosystem.