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Neutron (NTRN) is a project that enables developers to easily create cross-chain applications through the Inter-Blockchain Communication Protocol (IBC) and brings the full financial security of Cosmos Hub to its decentralized applications in DeFi.
What is Neutron Coin?
Neutron is a non-custodial smart contract platform developed with Tendermint and Cosmos SDK. The platform is built for cross-chain smart contract deployment and has native support for CosmWasm, Replicated Security (formerly known as Interchain Security), and the Inter-Blockchain Communication (IBC) protocol.
Neutron’s Replicated Security (RS) feature provides developers with the security of Cosmos Hub’s robust Proof of Stake consensus mechanism. Cosmos Hub is a decentralized Blockchain that provides vital ecosystem services for Cosmos through interoperability between different Blockchains.
RS allows validators from a provider Blockchain, in this case, Cosmos Hub, to create blocks for a consumer Blockchain, specifically Neutron. Node operators receive additional native tokens (ATOM) as incentives and can be penalized if they fail to validate blocks for the consumer Blockchain. Furthermore, Neutron’s support for Interchain Queries (ICQ) and Interchain Accounts (ICA), alongside IBC, enables any smart contract deployed on the platform to communicate seamlessly with the rest of the IBC network. It also facilitates complex operations like cross-chain collateralization and cross-chain liquid staking.
ICQ allows smart contracts to securely obtain information from remote Blockchains without relying on third-party oracles. As a result, developers can use ICQ to build cross-chain applications in a very short time and at a very low cost.
Typically, smart contract developers must select a specific feature set and market based on the platform they choose to develop on. Consequently, they create decentralized applications with limited potential determined by the features and market of the chosen platform. However, with Neutron, developers can access and utilize the feature sets of various chains due to its seamless interoperability features. Moreover, they are not restricted to a single market; by deploying on Neutron, they can access multiple markets simultaneously. The platform distinguishes itself from other smart contract platforms like Juno and Evmos with its user-friendly interface and sophisticated trading tools.
NTRN Review
In July 2022, the Cosmos community voted on Proposal 72, thereby accepting Neutron into its ecosystem and allocating 50,000 ATOM for its development. As a gesture of gratitude and to ensure good representation in the governance of the Cosmos Hub community, Neutron announced an AirDrop where 70 million tokens were distributed among ATOM stakers. This represents 7% of the total supply and 30% of the circulating supply at the time of writing.
To participate in the AirDrop at that time, participants needed to have staked at least 1 ATOM during the snapshot taken at block number 12,900,000 (November 19, 2022). Those who participated in the voting for Cosmos Proposal 72, either directly or through a validator, were also considered eligible for the AirDrop. Note that U.S. citizens, persons subject to sanctions, or those residing in sanctioned countries were not eligible to participate in the AirDrop. Additionally, validators and delegates affiliated with centralized cryptocurrency exchanges and custodial services were also excluded from the AirDrop.
The tokens will begin unlocking approximately nine days after Neutron’s AirDrop launch (June 2, 2023) and will be distributed over a three-month period after claiming. During this period, voting powers will also be activated. The AirDrop must be claimed within three months of Neutron’s launch. Unclaimed tokens will be returned to the Cosmos Hub community pool.
How to Buy NTRN Coin?
NTRN coin can be bought and sold quickly and securely via Binance, the world’s largest cryptocurrency exchange by trading volume. To purchase NTRN coin, you first need to open an account on Binance (if you don’t have one) and then deposit fiat currency into the account. After depositing a fiat currency like US Dollars, or Euros into the user account on the crypto exchange, the purchase can be made through the trading pairs where NTRN coin is listed.
