Yes! Nitro is currently the first and only Solana VM chain! It is based on Cosmos and is compatible with the Sealevel VM.
This development makes it easy to run your Solana dApps on the Cosmos network and access the IBC assets.
IBC mean Inter-Blockchain Communication Protocol. It is a protocol to handle authentication and transport of data between two blockchains. IBC solves a widespread problem: cross-chain communication. This problem exists on public blockchains when exchanges wish to perform swaps. Read more about IBC here.
Applications created with Nitro use the powerful Solana virtual machine, while gaining the interoperability that is native to IBC. With Nitro, developers can deploy Solana smart contracts unchanged, and users can access dApps using Solana wallets such as Phantom, Solflare, Sollet and others. This allows developers and users to access the huge Cosmos ecosystem. Imagine being able to easily manage and interact with IBC assets in the Solana network applications!
Previously, the Neon Labs team made Ethereum Virtual Machine, but now, the Nitro Labs team has made a really new product, like EVM used to be.
Nitro is not just a name, Nitro will be a scaling mechanism for Solana VMs, developers can use it to quickly deploy SVM rollups that can use any L1 for data accessibility and computation. For example, Nitro can be used to create rollups like dYdX, Immutable and even Arbitrum!
Nitro runs the Solana virtual machine as an optimistic drive on Sei, Layer1 (my article about Sei) in the Cosmos Network, which works with IBC and ICA (inter-network accounts). This architecture allows applications from the Solana blockchain to sit easily on Cosmos.
Block production is controlled by the sequencer (as in Arbitrum or Optimism). It provides instant confirmation of the transaction. After confirmation, batch transactions are sent to Sei. Verifiers can submit fraud proofs to Sei, which will ensure that the state changes are valid.
Nitro can be useful for creating:
Traditional decentralized exchanges that use Solana VM features
High-performance real-time games
NFT marketplaces, NFT derivatives, NFT lending
Protocols and credit markets.
Asset management applications in Solana and Cosmos dApps
It is worth noting that Nitro uses a modular architecture. This separates the two main components of the blockchain - execution and settlement. Their separation allows each of them to be optimized, thereby creating an optimal infrastructure. You can also use this to create Layer3 network that are tied to a specific application and focus only on execution. This offers a robust environment for high-performance rollups that are dedicated to a singular application.
I suggest you read the thread from Nitro themselves about what the process looks like:
https://twitter.com/Nitro_Labs/status/1602500481346981888
Nitro aims to make the Sealevel Virtual Machine the development standard, given the technical superiority it provides to the transaction processing architecture. Nitro is accelerating the growth of cryptocurrency developers and DeFi in general by promoting the SVM standard, making it easier for Solana teams to reach a wider audience.
Sealevel allows multiple concurrent transactions to be processed in a chain, and it increases the chain's ability to process more transactions simultaneously
Sealevel allows the Solana virtual machine to run multiple contracts simultaneously, without allowing the processing of any single contract to affect the wider block latency
Sealevel reduce the number of unconfirmed transactions in the pool
Cosmos in turn offers a robust ecosystem built on the premise of interoperability and interconnectivity. With more than 50 live blockchains in the Cosmos ecosystem and a monthly IBC volume of more than $100 million, the possibilities for DeFi, gaming and NFT in Cosmos are limitless.
The many talented developers at Solana, the Sealevel virtual machine on Nitro, and the fast-growing Cosmos ecosystem create a unique combination to lay the foundation for the next powerful center.
On January 12, 8:30 PM, there will be a Nitro Badge mint. The Nitro Badge is a tribute to the Solana NFT ecosystem. Not to ignore the power of the NFT, in addition to being an indication of the power of the NFT on Solana, this badge serves as a sign of early participation in Nitro.
To get access to the mint you need to get the role of NitroListed in their Discord. There are currently two ways to do this:
Write good content and actively create good channel discussions.
Enter a collaboration giveaway! (Can be found on Twitter or Subber)
That's all, good luck and don't forget the mint!
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