What Exactly is CosmWasm?
CosmWasm is a platform built on Cosmos-SDK/Tendermint for developing multi-chain smart contracts. It is designed to be easily accessible to all blockchain developers. CosmWasm aims to provide a comprehensive toolset for working with smart contracts, including a robust development environment, an extensive standard library, and a wide range of toolsets and documentation.
CosmWasm can easily handle several hundred transactions per second as opposed to only 30 limited transactions per second on Ethereum. Moreover, CosmWasm's multi-chain structure splits the load between connected chains which helps in keeping the costs low.
Recent and previous security breaches like the reentrancy attacks on CREAM finance, and Parity MultiSig Hack which had cost the loss of more than a Billion dollars in ETH. CosmWasm prevents most classes of attacks like these present in Solidity.
CosmWasm composition is a great way to extend the functionality of your smart contract. By combining multiple CosmWasm modules, you can create a contract that is much more powerful and flexible than a single-module contract, without compromising on security.
Our CosmWasm Development Services
Since the inception of CosmWasm, we have used it on several dApp projects along with the Cosmos SDK. And its versatility, robust architecture, and library have never failed to amaze us.
No Single Chain Lock-in
CosmWasm provides the ability to move a project from one blockchain to another by building a bridge between the two chains. This allows for a seamless transition for your project, and eliminates the need for difficult and time-consuming migration processes.
As your project grows, you can easily launch a new CosmWasm zone based on wasmd. This will give you the ability to iterate on new multi-chain protocols as CosmWasm contracts and allow users to join your new blockchain.
What is IBC protocol?
Inter Blockchain Communication (IBC) is a protocol that enables different blockchain networks to communicate with each other. IBC is based on the concept of "value-added chains" which allows different blockchain networks to interact with each other in a trustless manner. IBC enables different blockchain networks to exchange value, information, and assets in a secure and efficient manner.
What is reentrancy in smart contract?
Reentrancy is a computer program's ability to remember its position within a program while executing a task. This allows a program to be interrupted in the middle of a task and then resume that task from the point of interruption. In smart contracts, reentrancy refers to the ability of a contract to remember its state across multiple function calls. This can be used to allow a contract to be interrupted in the middle of a task and then resume that task from the point of interruption.