A little bit of chit-chat
Axelar Network has announced the launch of its new Generalised Message Passing (GMP) protocol. The GMP protocol allows for secure cross-chain communication between any blockchain networks, beyond the traditional bridging approach. For example, the GMP enables a developer building on one chain to call any function on any other connected chain. Axelar's new protocol will support a new generation of cross-chain applications that combine the best of the Cosmos and Ethereum Virtual Machine (EVM) ecosystems.
Duality launching on the hub
After successfully passing the governance vote of the first two consumer chains, Stride and Neutron, which launched in the Hub, a new potential consumer chain is preparing to propose joining as well. The new chain, Duality, is a Decentralized Exchange without a native token, and it intends to distribute all MEV among its liquidity providers.
In an interview at Informal Conversations, Duality's CTO, Nicholas Evans, explained the project's mission, which he described as a "public good" for the Cosmos Hub. According to the details of the potential proposal, Nicholas stated that Duality would share 100% of the fees with the Hub, and ATOM would control the chain's governance. The chain is scheduled to go live in Q3 2023.
No more missed votes
Skip protocol has published an article in which it shows that validators who registered for Skip experienced a 56% reduction in their missed vote rate on average, decreasing from 0.08% to 0.035% in the days following their registration.
The team at Skip attribute the platform's success to its unique node infrastructure, known as the Sentinel. The Sentinel works by disentangling network topology, thereby connecting validators to one another over shorter peer-to-peer (p2p) paths. This, in turn, facilitates MEV recapture and ultimately leads to fewer missed votes.
The study conducted by Skip shows that validators who registered for the platform experienced an average reduction of 0.045% in their missed vote rate. This equates to an average reduction of 56%.
By reducing the number of missed votes, validators can improve the security and reliability of the blockchain network. Moreover, the reduced missed vote rate can lead to better rewards for validators, as missed votes can result in reduced rewards.
Weekly Developer Activity (courtesy of Mintscan.io)
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Wrap Up
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