What is Nitro Labs? Nitro Labs is an SVM (Solana Virtual Machine) built and developed on the Cosmos ecosystem by Sei Network’s team. It can be said that Nitro Labs will open a new era for Cosmos in the near future.
So what is the reason why Weakhand has made such a prediction? Let’s find out together in this article.
What is Nitro Labs?
Overview Introduction
Nitro Labs built by Sei Network is an SVM (Solana Virtual Machine) Firstly built on the Cosmos ecosystem. It can be easily understood that projects and protocols on Solana can be transferred to operation and development easily on Cosmos. It can be said that Nitro Labs is a Layer 2 expansion solution connecting Cosmos and Solana.
To illustrate, Ethereum has EVMs such as Evmos, Optimism, Arbitrum, Avalanche C Chain, Aurora, while Solana has SVM with the first name Nitro Labs. It can be said that Nitro Labs offers the highest compatibility when smart contracts on Solana can be migrated to Cosmos without needing to change or adjust the code.
Similar to other blockchain platforms, Nitro Labs will also be used for all industries such as DeFi, NFT Finance, Gaming,…
Mechanism of action
Nitro Labs is a Layer 2 of Sei Network and the model between Sei Network & Nitro Labs with the Modular Blockchain model in which Nitro Labs acts as the Execution Layer, besides Sei Network acts as the Settlement Layer. (Data Availability Layer) and Consensus Layer (Consensus Layer).
Transactions will be rolled back by Nitro Labs’ validator team and then together with Verifier, they will send an additional Fraud Proof (similar to the proof that Optimistic Rollup Chains use) sent to Sei Network via the IBC cross-chain bridge. Nitro’s operating mechanism is similar to Layer 2 on Ethereum.
Core Team
Nitro Labs is built and developed by Sei Network’s team.
Investor
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Tokenomics
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Exchanges
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Nitro Labs’ Information Channel
- Website: https://www.nitro.technology/
- Twitter: @Nitro_Labs
- Docs: https://nitro-svm.gitbook.io/documentation/introduction/the-first-solana-vm-chain
- Discord: discord.gg/nitrosvm
Summary
It can be said that the number of projects on Solana currently being developed is not inferior but has more innovation than veteran competitors in the crypto market such as BNB Chain, Polygon,… So it is possible for projects to collapse. Easily porting to Cosmos could bring a huge pool of developers to the ecosystem.