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⛓️ Crypto🔴 BearishImportance 6/10
Hack VC-Backed Nillion to Shut Down Its Chain on Cosmos, Shift Focus to Ethereum
🤖AI Summary
Hack VC-backed Nillion is shutting down its Cosmos blockchain and migrating to Ethereum. This move follows Cosmos Hub's recent decision to step back from smart contract platform development amid declining total value locked (TVL).
Key Takeaways
- →Nillion, backed by Hack VC, is abandoning its Cosmos chain in favor of Ethereum.
- →The migration occurs shortly after Cosmos announced it's pulling back from smart contract platform ambitions.
- →Cosmos Hub is experiencing declining TVL, indicating reduced ecosystem activity.
- →The move suggests growing developer preference for Ethereum's established infrastructure.
- →This represents another setback for Cosmos' multi-chain vision and ecosystem growth.
Mentioned Tokens
$ETH$0.0000▲+0.0%
$ATOM$0.0000▲+0.0%
Non-custodial · Your keys, always
Read Original →via The Defiant
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