Neutron Overview
Interchain Security’s first consumer chain
Intro
Within the Cosmos ecosystem, the initiative by Interchain Security brings us closer to the shared security concept becoming reality for a potentially large number of blockchain networks.
At the forefront of this plan is Neutron, a permissionless smart-contract network that will be using ICS security by ‘borrowing’ Cosmos Hub’s sovereign network’s validator set. This is one of the characteristics of a consumer chain: a blockchain that shares one of its layers with another zone or another blockchain. Consensus and security are the shared aspects in this case.
Characteristics
Native CosmWasm support and IBC capability will allow other protocols to use the network’s services while simultaneously granting developers access to a wide range of tools for deploying smart contracts and offering increased development and audit efficiency.
As a consumer chain that is ICS-focused, Neutron also leverages the ICA (Interchain Accounts) and ICQ (Interchain Queries offered by P2P) technologies which further allows different protocols to be interconnected in the process of complex services such as interchain liquid staking.
As a controller and a host, you could deploy all of your activities on Neutron and then interact with other protocols using ICA, ICQ, and IBC. Or, vice-versa, accessing and controlling Neutron accounts from your own chain remotely. In the words of Avril “Spaydh”, the project plans on being the ‘glue’ between different app-chains, becoming the central point hub of the Interchain System.
ICA & ICQ
Interchain Accounts enabled blockchains will benefit from certain points where Neutron lifts the technology’s limitations. Allowing one zone to trigger certain events in the layer of another blockchain’s zone, where a custom Interchain Transactions Module executes interchain transactions on behalf of the smart contract. Worth mentioning that we can also have multiple Interchain Accounts created by one single contract.
Interchain Queries allow numerous actions cross-chain such as querying an account’s balance, account delegations, if a transaction has failed or not, etc. The IBC communication through ICQ allows algorithmic and transparent success. This also eliminates the need for communicating directly with a provider’s application, ensuring a low-latency, trustless solution through the queries module that is automatically verified using cryptographic proof.
Permissionless
Being permissionless also means that any development team can deploy code and build applications that will become connected to the Interchain system, especially contracts that can adhere to the Cosmos umbrella with ease.
Neutron benefits
The advantages from a technical perspective are quite simple to discern:
- Native Cosmos SDK zone providing an isolated execution environment protected from clogging
- Faster development cycle with less code
- Easier code sharing
- Cheaper maintenance
- Synchronous execution enabling composability
- High sovereignty & customization
The other benefits of Neutron are of course in driving the adoption of Cosmos Hub technology where Neutron shares a fee income with the Hub, increasing the revenue stream and accessibility.
In terms of projects it is hoping to target and have built on the network, Neutron is going to encourage the building of but not limited to:
- DEX / AMMs
- Yield strategies and optimizers
- Lending / Borrowing
- NFT marketplaces
- Liquid Staking
Tokenomics
The plan is not yet fully defined at the time of writing
However, the main concept hashed out would be to create:
- Neutrino ($RINO ticker)
- veTokenomics: vote-locked Neutrino ($veRINO)
-> staking yield
-> voting power in traditional governance
-> voting power in emission gauges (liquidity mining incentives, dev team funding etc)
Transaction fees:
- 25% to ATOM delegators and validators
- 75% split between:
-> Burning (redistributing value to all holders)
-> Used to buy $RINO and distribute it to $veRINO stakers
-> Swapped to stablecoin and sent to Neutron treasury
Funding in general
Finally, let’s not forget that at the start of everything we had Proposal 72 which ended up providing Neutron with 150,000 $ATOMs, where:
- 50,000 $ATOMs go towards the development of the DeFi Hub
- 100,000 $ATOMs towards CosmWasm and smart contract projects — Incentivizing external teams to build on Neutron
BlockHunters & Neutron
BlockHunters is currently involved in both Game of Chains and Neutron’s QUARK testnet!
Our validator’s settings are aligned with the current ICF decisions and we’re looking forward to seeing Neutron evolve.
In the meantime, we’ll do our best to keep everyone posted with different videos and articles/threads on the subject.
Neutron Links
⚪️ Website: https://neutron.org
⚪️ Linktree: https://linktr.ee/neutron.org
⚪️ Github: https://github.com/neutron-org
⚪️ Twitter: https://twitter.com/Neutron_org
⚪️ Documentation: https://docs.neutron.org/
About BlockHunters
BlockHunters is a non-custodial staking service provider currently supporting the most promising projects in the cryptocurrency ecosystem with active nodes and different model infrastructure key components.
Based on the vision of driving technology forward and helping with security, connectivity solutions, governance insights, and community support, BlockHunters is dedicated to offering competitive and practical prowess.
Where to find us
🔗Website https://blockhunters.org
🔗Linktree https://linktr.ee/blockhunters
🔗Twitter https://twitter.com/BlockhuntersOrg
📃Telegram chat https://t.me/BlockhuntersTG
📃Telegram announcements https://t.me/BlockhuntersAnnouncements
📧Email office[at]blockhunters[dot]org
