Transformational Changes in the Cosmos Ecosystem

The Cosmos ecosystem is undergoing one of its most significant transformations to date.

The Interchain Foundation (ICF), Cosmos' leading development organization, announced on Tuesday that it is acquiring blockchain solutions provider Skip, now rebranded as Interchain Inc., to centralize product development and unify the Cosmos ecosystem. This move marks a shift away from decentralized leadership as co-founder Ethan Buchman steps down, positioning the ICF to revitalize its focus on growth and solidify the Cosmos Hub's role as the ecosystem's core.

> “The acquisition of Skip marks a transformative moment for the Interchain Foundation and Cosmos itself,” said ICF President Josh Cincinnati. “By aligning with Skip's unparalleled execution and rapport with the broader ecosystem, we are re-envisioning the ICF’s operations. This is a seismic shift — not just in structure, but in our commitment to realizing the Cosmos vision with renewed purpose.”

Cosmos, focused on interoperability, has long suffered from fragmentation and competing visions for the future. The ICF has pursued distributed product development, where “stewards” were responsible for key network components. With this acquisition, Interchain will bring these functions “in-house,” unifying the developer experience using Cosmos’ open-source, modular frameworks and software kits.

Launched in 2019, Cosmos pioneered the “appchain” ecosystem, providing the necessary infrastructure to enable the launch of dedicated blockchains that could communicate and share security. Key components include the Inter-Blockchain Communication Protocol for token swaps and Interchain Security for pooled security features. The Cosmos Hub ties these appchains together.

Cosmos has become a leading network for launching new blockchains or decentralized apps, with hundreds of appchains utilizing its software suite, representing immense value. However, the network has struggled with internal strife as decentralized leadership led to fragmentation over time. This has been reflected in the declining value of the Hub's native token, ATOM.

Years of political and technical conflicts within the Cosmos ecosystem have led to proposals for competing tokens and divisions among key figureheads. The Skip acquisition aims to establish a clearer direction for ICF and capitalize on strong leadership to solidify Cosmos as an industry innovator.

Founded in 2022, Skip Protocol has become a vital infrastructure provider in the Cosmos ecosystem, enhancing interoperability between appchains and addressing user and developer needs. The rebranded Interchain Inc. aims to recenter the Cosmos Hub and ATOM token as crucial components of the ecosystem.

The goal is to transform the Hub into a true central point of connection within Cosmos, facilitating liquidity, security, and supportive app operations. Interchain plans to support more native virtual machines and programming languages while launching the anticipated IBC v2, simplifying the Inter-Blockchain Communication Protocol with native Ethereum support slated for 2025.

All these initiatives are expected to improve the usability and reliability of Cosmos, enabling faster iteration cycles and expansion into new environments. However, the community's reception of these changes is uncertain, particularly as ATOM has recently seen a significant decline in value, reflecting broader market trends.