Interchain Foundation will allocate $26.4 million for the development of the Cosmos ecosystem

• The Interchain Foundation (ICF) will continue to fund the Cosmos ecosystem in 2024.
• The fund will allocate $26.4 million for the development of five main areas.

The non-profit organization Interchain Foundation (ICF) intends to allocate $26.4 million for the development of the Cosmos ecosystem in 2024.

According to representatives of the Interchain Foundation, in 2024, funds will be used to develop such areas as the CometBFT consensus protocol, the Cosmos SDK software package, the inter-blockchain data exchange protocol (IBC), the smart contract platform for interconnection CosmWasm and the CosmJS programming language.

According to the 2024 roadmap, the team plans to focus on reducing the time to implement IBC technology, improving and differentiating the developer experience, and creating more advanced protocol-based cross-chain workflows.

It should be noted that the ICF budget for 2022 assumed funding in the amount of $54 million. In 2023, the fund spent about $40 million on the ecosystem.

Read more about what the Cosmos project is in a separate article:

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There have been several changes to the Cosmos ecosystem over the past few months.. In March, the decentralized exchange dYdX announced the transition from Ethereum to Cosmos. In addition, several Japanese banks decided to issue stablecoins based on this blockchain, and the founder of the project, Jay Kwon, proposed conducting a hard fork of the network.

We also reported that the creators of the PUBG game announced the launch of their own network on Cosmos.