The Interchain Foundation is funding the Tharsis Labs team and releasing open source EVMOS, an Ethereum compatible layer 1 solution aimed at increasing interoperability between Ethereum and Cosmos.
With this funding, Tharsis Labs will guide EVMOS in open source, bringing Cosmos (Atom) capabilities to users of the Ethereum (ETH) network.
The entity that supports the advancement of the COSMOS ecosystem and its inter-block communications protocol announced its development on March 18th.
EVMOS allows developers to build distributed EVM-powered applications and chains using the Cosmos software development kit. Tharsis Labs will open source Ethereum virtual machine compatible software under the Apache 2.0 license, Interchain Foundation says.
In this case, ICF forks the technology of the EVMOS and renames the IT Cosmos EVM. This will allow Steward from Cosmos Ecosystem to continue developing the project.
Cosmos EVM is part of the interchain stack and is built under the Interchain Lab team.
“This is the right thing for the community due to the longevity of the code we developed, and we feel excited about supporting ICF for this. We look forward to contributing to this next stage in our strategic advice role.”
According to ICF, the origins of open source further integrate the forked technology stack, bringing unauthorized innovation in that space. EVMOS integration as cosmos' main EVM solution targets benefits such as cross-chain communication for scaling Defi applications.
Despite EVMOS funding and forking, ICF says it is committed to Projectc's roadmap. Like Ethereum compatibility, Interchain Foundation aims to build EVMOs into solutions that all Proof-of-Stake networks can leverage for fresh Web3 adoption.
“EVMOS is an important work in filling the Ethereum and Cosmos ecosystem, and we are excited to support the continued evolution under the umbrella of the Interchain Foundation,” said Josh Cincinnati, ICF's Foundation Council.
Last July, Layerzero Labs partnered with Initia Labs for COSMOS interoperability standards. This collaboration is intended to bring Omnichain interoperability to the Cosmos SDK and Layerzero-enabled chains.
