Sommelier Collaborates with Mysten Labs to Introduce Cosmos smart contracts
On Tuesday, Sommelier, an Ethereum Virtual Machine (EVM) co-processing covenant, established a research and development collaboration with Mysten Labs to improve liquidity transaction speeds and deploy smart contract apps on the Cosmos blockchain.
Sommelier is a test-net covenant structured to deliver enterprise-level automated financial transactions including limit orders, batched orders, and portfolio realigning to decentralized finance (DeFi), traders, and liquidity providers (LPs). It was formed in 2020 by Zaki Manian, a core developer on the Cosmos protocol.
The blockchain, which integrates the Tendermint consensus layer, Cosmos Stargate SDK, and dual-way Ethereum bridge, will collaborate with Mysten to incorporate Move smart contract coding to offer smart contract capabilities to the the whole Cosmos environment, and also those on its Ethereum Gravity Bridge.
Mysten Labs is a Web 3.0 backbone established this year by a group of cryptographic program developers accountable for the blockchain framework of Facebook’s crypto-payments platform Diem and its associated mobile wallet Novi. Mysten’s expertise in the industry is said to let the Sommelier blockchain scale to 100,000 trades per second (TPS).
“What we have been doing with this collaboration is finishing the job of unlocking Tendermint’s capability to be the quickest blockchain platform in datacenter grade environments,” said Sommelier co-founder Zaki Manian. “We are thrilled to be collaborating with the finest knowledge from Facebook’s previous team of top encryption and distributed computing experts who created Diem and Novi.”