Delphi Labs turns its back on Ethereum in favor of Cosmos

The king is dead, long live the king – Last May witnessed one of the most dramatic events in the ecosystem cryptocurrencies. Indeed, in the space of a few days billions of dollars have been lost within the ecosystem Terra Luna. After this fall, many teams had to find a new blockchain where to develop their ideas. This is particularly the case of Delphi Labswho had to find a replacement in Terra Luna.

Delphi Labs: the expert hand of Delphi Digital

Delphi Digital is a company specializing in research in the cryptocurrency ecosystem. Thus, it provides state-of-the-art research reports for various eminent actors in the field.

Different entities that make up Delphi Digital.

In practice, Delphi Digital has several branches, each with their own specialties. Among them, we find Delphi Labs. In practice, Delphi Labs is the research office and development of Delphi Digital.

“Our team aims to change the crypto landscape by building with quality teams, and incubating protocols shaping the future. »

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Building after Terra Luna

Originally, Delphi Labs teams were focused on developing new protocols on the Terra Luna network.

Obviously, following the collapse encountered by the project last May, the Delphi Labs teams had no choice but to find a new ecosystem.

“Terra’s collapse demonstrated the potential downsides of building on the wrong platform. We wanted to make sure we took our time, learned our lessons, and made the right choice about where to focus our efforts going forward. »

To find their new ecosystem, they carried out an in-depth study of the main solutions of L1 and L2. All of their results were compiled in a study published on September 8.

Their study focused on many criteria. These range from scalability, to the consensus model, to opportunities in the field of MEV.

Cosmos: big winner of the Delphi Labs study

Faced with the craze around The Merge and the volumes recorded, Ethereum could have been a candidate of choice for Delphi Labs. However, their study did not lead to this result:

“After reviewing the options, we decided our best path was to focus our research and development efforts on the Cosmos ecosystem. »

Thus, Delphi Labs envisions thefuture of cryptocurrencies on an ecosystem that has a multitude of blockchains with specialized applications. These are interconnected by bridges with minimized confidence. So many parameters that make Cosmos a perfect candidate for Delphi Labs.

At the same time, we believe Cosmos is decentralized enough to offer strong guarantees of security, liveliness, and censorship resistance. Especially compared to many of the alternatives that we have considered, which are more recent and therefore present more vectors of centralization. »

Other entities are choosing to take the step of the Cosmos ecosystem. Thus, last June, the decentralized exchange platformdYdX unveiled its plans to migrate to the Cosmos ecosystem.

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