Interoperable Ethereum Blockchain Evmos Rallies 25% on Partnership With RedStone Finance August 25, 2022 August 25, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 25, 2022 by Kelly Cromley

Interoperable Ethereum Blockchain Evmos Rallies 25% on Partnership With RedStone Finance

RedStone Finance, developer of the Arweave using Web3 cross-chain oracle and smart contract SDK, has inked a strategic partnership with Evmos, which is a fast-finality Proof-of-Stake Ethereum blockchain that is scalable and interoperable.

As an outcome of the collaboration, the Evmos network of initiatives and builders may now use RedStone’s state of the art oracle platform.

Evmos is a Proof-of-Stake blockchain with a large processing capability and the initial EVM-powered Inter Blockchain Communication Protocol (IBC) compliant covenant that utilizes the Cosmos SDK (which functions over the top of Tendermint Core consensus engine). It integrates the world of Ethereum Layer-1 blockchain-based apps (and assets) to the compatible systems of the Cosmos network, giving developers access to all of Ethereum’s blockchain’s capabilities while benefitting from Tendermint’s PoS execution.

Notable functionalities of Evmos are:

  • Web3 and EVM compatibility
  • High throughput via Tendermint Core
  • Horizontal scalability via IBC
  • Fast transaction finality
  • This implies that developers can quickly employ smart contracts for engaging with other attributes of Cosmos ecosystem.

    RedStone offers an oracle system that gives a vast array of data flows from the cryptocurrency realm, covering cryptocurrencies and also NFTs. RedStone delivers DeFi data feeds that are highly customizable and provided rapidly, consistently, and cost-effectively. By providing customized data streams, unique project requirements may be satisfied.

    RedStone now allows the Evmos community of developers and initiatives to use the advantages of this state of the art Oracle solution.

    According to RedStone’s blog post regarding the collaboration, non-standard information is our area of expertise, and we desire Evmos developers to make the most of it. Oracle’s framework is continually being enhanced by the RedStone team. However, this is not the sole project on which they have been concentrating.

    RedStone is very concerned about safety. With all the attacks that have occurred lately in the cryptocurrency field, a secure covenant is essential for long-term success. In order to promote understanding of the techniques employed by swindlers and cybercriminals to control the impacted Web3 protocols, RedStone has launched a fresh mini-series detailing significant Oracle breaches and manipulations.

    In addition to assisting they aid other builders understand hacks so that history is not repeated, but they also educate people in various ways. Additionally, RedStone has Warp Academy (earlier referred to as RedStone Academy). This is a platform that teaches users how to work on the Permaweb and publish their first smart contract on the blockchain, utilizing their SmartWeave Contracts SDK and rest of useful stuff.

    While preparing this report Evmos was trading at $2.59, up 24.80% in the last 24 hours. In the last one week, Evmos gained 38.70%.

    AuthorKelly Cromley

    Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.