96% Of Cosmos Community Support Allocation Of 20,000 ATOM To Launch Interchain Security Testnet
Cosmos community approved the proposal to allocate 20,000 ATOM to launch Interchain Security incentive test network with over 96% support. The test network is scheduled to launch in November.
On October 5, this community group spending proposal seeks approval to fund 20,000 ATOM worth of incentives for the incentivized Interchain Security test network.
The test network is scheduled to launch in November. The allocation of 20,000 ATOMs will be used to incentivize validators to participate in the test network, of which 10,000 will be allocated to validators to participate in the test and the remaining 10,000 ATOMs will be allocated for error detection or develop tools and validators that provide monitoring solutions.
Interchain Security (ICS) is a Cosmos SDK capability that has taken over the Cosmos Ecosystem over the past year. This has been reflected in the engineering efforts of various core entities including Interchain GmbH, Unofficial Systems as well as Quicksilver and Neutron initial users.
ICS allows a provider chain, such as the Cosmos Hub, to share the security and have its validators generate blocks for the consumer chain.
The incentive testnet will serve the dual purpose of (1) testing Chainlink Security under the same conditions as the mainnet, and (2) providing Cosmos Hub validators an opportunity to build confidence around running the Link Chain Security protocol.
Therefore, 20,000 ATOM (about $300,000) is withdrawn to the community group to reward validators who participate in the Cosmos Hub test.
Voting ended on October 19 with 96.62% (equivalent to 95,276,735,179171AT) of the community approving the proposal.
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