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Investment developments in the cryptocurrency market continue to make headlines. Accordingly, a development platform focused on the Cosmos ecosystem, Cosmology, announced that it has raised $5 million in seed funding. The funding round, led by venture firms Galileo and Lemniscap, saw participation from Dispersion, HashKey, Tuesday Capital, Osmosis Foundation, Chorus One, and Informal Systems. The company did not disclose details regarding the valuation process.
Significant Step from the Cosmology Team
Cosmology aims to provide a full roll-up development environment including developer tools for Tendermint, the Cosmos SDK, and the Inter-Blockchain Communication (IBC) protocol. Tools like Telescope and Cosmos Kit are designed to simplify the development process for applications on the Cosmos ecosystem.
Cosmos, is an interoperability network comprising various ecosystems. These ecosystems can interact with each other through the Cosmos Hub using the IBC protocol. The firm stated that its goal is to make blockchain application development accessible to all developers interested in Cosmos and to reduce the need for expertise.
Noteworthy Details About Cosmology
It was also noted that hundreds of developers are utilizing Cosmology’s software to create decentralized finance platforms, wallets, governance tools, NFT platforms, lending platforms, futures exchange platforms, and liquid staking protocols. Among these platforms are Osmosis, Cosmostation, Stride, Juno, DaoDao, Stargaze, Leap Wallet, Persistence, Quicksilver, and many more. Dan Lynch, the founder of Cosmology, shared the following statement:
“Our mission is to empower a broad range of developers, foster innovation, and facilitate the transition from Web2 to Web3. We achieve this by enabling developers to quickly turn their ideas into implemented applications, focusing on the big picture concepts rather than the low-level technical details of the blockchain ecosystem.”
With the rise led by Bitcoin in the cryptocurrency market, many altcoins also manage to make investors smile. With these developments, the crypto market is encountering significant interest from many investment firms. It seems that investment developments, often discussed during the bull market, will continue to emerge.
