What is Sovereign? Sovereign is a platform with an extremely big ambition in the crypto market with an Internet of Rollup vision not much different from Cosmos. So what special features does Sovereign have? Let’s find out together in the article below.
To understand more about Sovereign, people can refer to some outstanding articles such as:
- What is Avalanche (AVAX)? Avalanche Cryptocurrency Overview
What is Sovereign?
Overview of Sovereign
Sovereign sets out a vision for itself that is to build a vision Internet of Rollups alternative to the Internet of Blockchain to solve security-related problems. For example, when deploying a completely new Layer 1, it is necessary to offer large incentives to validators to convince them to join its network, and that cost is huge for newly started projects.
It can be said that Sovereign will build Sovereign SDKs similar to how Cosmos builds its Cosmos SDKs, these blockchains will use zkRollup technology. Some of the advantages of the Sovereign SDK include:
- Developers do not need cryptographic knowledge to use ZKP technology. They just need to take advantage of the best features that ZKP has to offer.
- Developers have many programming languages to choose from such as Rust, C++,… and can be executed on zkVMs.
Some outstanding features of Sovereign SDK
Sovereign SDK has a number of outstanding features as follows:
- The Sovereign SDKs can interact seamlessly through a bridge that Sovereign builds on top of ZKP technology. The cost of cross-chain interaction is extremely cheap.
- Sovereign SDKs can solve the scalability problem simply through Sovereign’s efficient use of parallel execution.
- In essence, the Sovereign SDK is a zkRollup Chain so it can run on any Blockchain.
Development Roadmap
Sovereign’s first-stage development roadmap is divided into 3 stages:
- Phase 1 – Research (Ongoing): Sovereign SDK is still in research and development. In this release Sovereign will be deployed on Celestia although they have many options for Data Availability. This phase is expected to be completed in Quarter 2/2023.
- Phase 2 – Initial Implementation: Sovereign SDK will be deployed in parallel with the remaining research. At this point, the core features of the network will be deployed.
- Phase 3 – Hardening: Official mainnet.
Investor
January 30, 2023: Sovereign successfully raised $7.4M for the first time, led by Haun Ventures, with participation from Maven 11, 1KX, Robot Ventures and Plaintext Capital.
Core Team
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Exchanges
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Project Information Channel
- Website: https://www.sovereign.xyz/
- Twitter: https://twitter.com/sovereign_labs
- Discord:
Summary
Sovereign is a platform with an interesting vision in the Crypto market. We can absolutely follow up soon to seize the opportunity.