Tendermint has altered its name to Ignite as its old name is likewise utilized for another Cosmos-unrelated task by one of its old creators.
Key Takeaways
- Cosmos designer Tendermint has revealed today that it hasactually rebranded to Ignite.
- Ignite will keep its old focus on establishing the Cosmos community.
- The rebrand is a quote to distinguish the business from a brand-new job utilizing its old name, set up by one of its co-founders, Jae Kwon.
Tendermint, the business behind the blockchain interoperability procedure Cosmos, hasactually rebranded to Ignite.
Ignite to Continue Building Cosmos
Tendermint, the core factor to Cosmos, is now called Ignite.
According to the Wednesday statement, the business will keep its focus on the Cosmos blockchain environment and continue its operations as regular. It’s rebranded to emphasize the difference inbetween the Cosmos-focused company and a brand-new platform utilizing the firm’s old name constructed by one of its old creators.
Tendermint was established in 2014 by Jae Kwon, who led the business as CEO till February 2020, when he resigned to focus on a brand-new open partnership innovation business called Virgo. Kwon has now supposedly chose to take back the Tendermint name and launch a brand-new effort under it.
To distinguish the brandname from Kwon’s brand-new job, Ignite’s existing CEO, Peng Zhong, has chose to modification the business’s name to be more on-brand with the Cosmos community. According to the business’s new site, “Ignite” is expected to bring to mind “the initiation of modification and action” and partner individuals with development and development.
“Our brand-new brandname, Ignite, represents the modification we motivate by linking everybody to this world of decentralization and interoperability,” the business composed.
Ignite released Cosmos in 2017 as a decentralized network of independent, scalable, and interoperable blockchains. Its Inter-Blockchain Communication procedure enables designers to spin up brand-new blockchains and link them with the Cosmos environment without the requirement for cross-chain bridges or comparable tooling.
Since its launch, Cosmos hasactually broadened to assistance over 38 various blockchain communities, consistingof the likes of Terra, Kava, and THORChain. It presently supports over 262 applications and services throughout its whole community with over $129 billion in properties under management. Cosmos’ ATOM token is presently the 21 biggest cryptocurrency on the market, with a market cap of around $7.5 billion.
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