SUMMARY: Neutron has acquired a 25% stake in Confio, the developer of the CosmWasm programming environment, with the goal of driving CosmWasm adoption and implementing technological enhancements. This strategic collaboration between Neutron, a Cosmos-based smart contracts platform, and Confio is focused on aligning development strategies. The investment amount remains undisclosed.
CosmWasm, serving as the default virtual machine for Cosmos-based blockchains like Neutron and Osmosis, empowers these platforms to execute smart contracts. The investment is intended to propel CosmWasm adoption and foster technological advancements, particularly in web3 domains such as zero-knowledge proofs for scaling and privacy. Avril Dutheil, a core contributor of Neutron, highlighted long-term plans for collaboration on advanced features, including native zero-knowledge verification.
Neutron aims to position CosmWasm as a robust alternative to programming environments like the Ethereum Virtual Machine, marking a significant milestone on its roadmap post-mainnet launch and alignment with Cosmos Hub’s replicated security.
In June 2023, Neutron secured $10 million in a seed funding round led by Binance Labs and CoinFund, bringing its current valuation to over $670 million in the blockchain space.
