Coinspeaker Interchain Foundation Acquires Skip to Enhance Cosmos Development
In a bold move to revamp the development and vision of the Cosmos ecosystem, the Interchain Foundation (ICF) has officially acquired Skip, a company renowned for its technological advancements in the blockchain space.
According to a medium post published on December 10, the acquisition is aimed at centralizing efforts within the Cosmos ecosystem, enhancing the Cosmos Hub, and driving a unified approach to blockchain innovation.
A Strategic Solution to Cosmos Ecosystem Fragmentation
The ICF’s acquisition of Skip also involves rebranding the company as Interchain Inc., which will serve as a dedicated subsidiary. The move reflects the foundation’s renewed commitment to addressing challenges of inefficiency and fragmentation within the Cosmos ecosystem.
According to CoinDesk, Josh Cincinnati, President of the Interchain Foundation (ICF), stated that the acquisition will help developers address challenges within the Cosmos ecosystem.
“Our ecosystem gave us valuable feedback; we listened and acted on it. This acquisition will supercharge the development of the interchain by empowering one of our strongest builders to solve problems with purpose and agility,” he said.
The protocol, often described as the “Internet of Blockchains,” has been at the forefront of blockchain interoperability through its Inter-Blockchain Communication (IBC) network. However, the ecosystem has faced difficulties, including fragmented leadership and delays in executing key initiatives.
With this acquisition, the ICF plans to streamline development efforts and refocus on the Cosmos Hub as a vital center for liquidity, security, and cross-chain collaboration.
Leadership Changes and Strategic Goals
Skip’s contributions to the Cosmos ecosystem make it a natural fit for this strategic alignment. The company has delivered impactful solutions like The Block SDK, Skip:Connect (formerly Slinky), and mev-tendermint, which have enhanced the functionality of the Cosmos SDK and CometBFT.
Additionally, Skip:Go, one of the company’s flagship products, has established itself as a crucial infrastructure component, processing between 25% and 50% of monthly IBC transaction volume.
Under the guidance of Skip co-founders Barry Plunkett and Maghnus Mareneck, Interchain Inc. will lead key initiatives such as the development of “IBC Eureka,” which aims to bring Ethereum compatibility to the Cosmos ecosystem.
ICF believes that the reimagining of the Cosmos Hub will also play a central role in driving user and developer adoption within the ecosystem.
“Cosmos has been uniquely fragmented. We’ve long been searching for a solution and hit on the best outcome with the acquisition of Skip. Barry, Mag and the Skip team stepped into the Cosmos vortex and rapidly proved their mettle. I’m excited for them to take on a stronger leadership role in reconstituting the ecosystem, the interchain stack, and the Cosmos Hub,” said Ethan Buchman, co-founder of Cosmos and outgoing ICF Council member.
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Interchain Foundation Acquires Skip to Enhance Cosmos Development
