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You will definitely agree with me that Cosmos can also be perceived to be amongst the top fastest growing crypto project with increasing ecosystem. I used to be familiar with Cosmos native token (ATOM) during my early days of cryptocurrency trading on Binance exchange but I wasn't even knowledgeable about the project (COSMOS) itself back then probably because I loved trading different and multiple coins back then for profit such that I wasn't even familiar with Cosmos itself.

I began to develop more interest learning about Cosmos Blockchain and it's Ecosystem not until after Loop Finance migrated to JUNO Network due to the Terra crash incident that occurred last month and I also noticed some other projects were also migrating to the Cosmos Ecosystem by joining the JUNO blockchain. According to a recent news from investing.com , we can also observe that the Cosmos ecosystem gained more recognition with the help of Juno after the announcement made by SubQuery on the 9th of June which has to do with SubQuery supporting Cosmos Ecosystem starting with Juno Network. This also implies that Juno and CosmWasm developers can now have access to Subquery’s indexing solution, tools, documentation, developer support and other development benefits which was also rendered by SubQuery to Polkadot and Avalanche ecosystems.

My content today will majorly be focused on Juno Network and I also hope you will definitely find this content more educating as I will be sharing with you some important things you need to know about JUNO Network. So, without wasting much time, let's get down to business 😊.

Understanding Juno Network

There's actually no doubt that whenever we are to consider or look out for "interoperability" features in blockchain system, most developers consider Cosmos to be the best as regards to this most especially when it involves the use of Inter Blockchain Communication (IBC). I guess this is one of the major reason Cosmos is also termed the "the Internet of Blockchain" due to the fact that it is an ever-expanding ecosystem of interconnected apps and services, built for a decentralized future.

The good news is that JUNO was built on Cosmos blockchain which implies that users and developers can have unlimited access to interoperability features using Juno Network. According to the project official document, it was stated that

Juno is an open source platform for interoperable smart contracts which automatically executes, controls or documents a procedure of relevant events and actions according to the terms of such contract or agreement to be valid & usable across multiple sovereign networks.

This implies that developers will be able to experience a decentralized, permissionless, censorship resistant and interoperability system when developing their smart contracts using proven frameworks and compile them in various programming languages such as Rust and Go on the Juno blockchain.

Another lovely advantage i love about Juno Network is it's adoption of Inter Blockchain Communication (IBC) which gives room for an interoperable base layer 0 which can be utilized in transferring data packets across thousands of independent networks supporting Inter Blockchain Communication (IBC). The team behind Juno are also working on extending it's Inter Blockchain Communication (IBC) across other external networks regardless of wasm support on such external networks.

JUNO In The Home of COSMWASM

You can't be part of the JUNO family without you hearing about or being familiar with the word "CosmWasm". Anyways, CosmWasm is a simple acronym for "Cosmos Web Assembly". The first four letters "Cosm" connotes Cosmos while the last four letters "Wasm" connotes WebAssembly. This aspect is mostly utilized by developers who have interests in developing their project on Juno blockchain.

Web Assembly act an intermediate language that compiles the developer’s language of choice into a portable virtual machine. This implies that if the developer write programming codes using Rust or Go, the Web assembly helps to convert this available line of codes provided by the developer into a more understandable language by compiling such languages into a virtual machine which makes it easier for the blockchain to execute the required tasks or instructions given by the developer. This means that users can have a simple, secure and fast virtual machine set up to sandbox or partition your application's actions for better testing, security, performance and speed.

All these can be achieved with the help of CosmWasm since it helps to activate the WebAssembly (WASM) and the Virtual Machine (VM) in the Cosmos SDK. The Web Asembly (WASM) adopted in the Cosmos SDK makes it very easy for developers or users to interact with the Juno blockchain securely and easily using any programming language of their choice. This will definitely be a great advantage to Cosmos Ecosystem as this can also be confirmed by a statement found on the project Document which is quoted below;

First, this product allows developers to write modules in Rust that integrate seamlessly with the Cosmos SDK, so they can take advantage of the mainnet-proven Cosmos-SDK modules and BPoS Tendermint consensus algorithm while developing a largely Rust-based custom application logic.

As you can see from the above statement generated from the project official document, you will definitely agree with me that CosmWasm will be very easy to use by developers to build or develop their projects on Juno blockchain.

Second, the ability to upload code in transactions, rather than restarting the chain, allows for a much quicker deployment of new features; the Juno Hub upgrade procedure is necessary only when making changes in the core logic.

JUNO Staking Mechanism

Staking shouldn't be a new thing to most of us here because there's high chance most of us here might have engaged in staking activities in one or the other. Staking simply refers to the act of locking up a particular token or cryptocurrency for a specific period of time in which the stakers are being rewarded for their staking activities depending on the APR or ROI and it also help to provide economic security and stability to the public blockchain.

The good news is that JUNO users are also able to engage in staking activities on the Juno blockchain to help secure the Juno Network, engage in governance (voting) and most importantly earn cool rewards for their staking activities on Juno Network.

Before staking on Juno, users have access to select their desired validators and it is extremely important that you do a little research before delegating your JUNO to a validator to avoid losses in the future. It is recommended you check out for the below features when selecting a validator on the Juno Network as recommended by the Juno team ;

• Decentralization of the network
• Reputation of the validator
• Reachability of the validator
• The validator setup
• Project and Community involvement
• Value added by the validator
• Commission taken by the validator
• Slashing history and validator uptime

Staking on Juno Network will also enable users to take part in the vote on governance proposals and contribute to making decisions on the future and direction of the network. Also, Stakers have the power to contribute to the security of the Juno Network and they also earn staking rewards for their activities.

Juno Tokenomics

The native token of the Juno Network is known as "JUNO". The token can be used to secure the proof of stake network on the Juno blockchain, it can also be used as a key to on chain governance, it also act as transport fuel (gas) for all interoperable smart contracts deployed in the ecosystem, the Juno token also serves as collateral in various smart contract use-cases and lastly it serves as a work token used to capture value from dapps built on top of the Juno Network.

According to the project official document , it was stated that the initial total supply of Juno tokens was estimated to be 64, 903, 242 $JUNO‌ while the initial circulating supply was estimated to be 33.036.534 $JUNO with a total maximum supply of 185, 562, 268 $JUNO to be reached after 12 years (2033) as this is also in accordance with the data generated from coinmarketcap.

The Coin Tokenomics is distributed as follows;

Community Stakedrop: 30.663.193 $JUNO

• Community Pool: 20.000.000 $JUNO
• Smart Contract Challenges: 2.373.341 $JUNO
• Core Development Reserve (Vested over 12 years, i.e. non-circulating): 10.084.396 $JUNO
• Core Team (Vested over 12 years, i.e. non-circulating): 1.782.312 $JUNO

JUNO and LOOP Partnership

Due to the recent Terra crash event, Loop Finance also decided to leave Terra blockchain to join the Juno Network after the unanimous agreement with the Loop Finance community. There's also no doubt that Loop Finance was also affected as a result of the Terra crash due to the fact that the project was just gaining more recognition in the crypto space before the Terra crash incident occurred.

I love the fact that Loop Finance team and community never allowed the Terra crash incident to bring the project down, instead of giving up they had to work more on extending the project on multi chain network and it's really great they considered Juno Network as their new home and it's also really great to see Loop Finance project being welcomed wholeheartedly by the Juno Network.

I think Loop Finance partnering with Juno Network will definitely be one of the best collaboration for the Loop Community most especially when it comes to experiencing great interoperability features. Let's just keep being optimistic about the success this collaboration will yield to the Loop Community and I also hope the team behind Loop Finance will definitely put in their best effort to make this collaboration one of the best for it's community.

Thank you for taking your time to read this publication. I hope you won't miss out on my Next publication which has to do with "Exploring the Cosmos Ecosystem (Part 2)" where you will learn about supported wallets such as Keplr, Cusmostation, Junoswap and many other tools used in the Cosmos Ecosystem

Important/Reference Links

• https://www.junonetwork.io/
• https://docs.junonetwork.io/juno/readme
• https://docs.junonetwork.io/tutorials/staking
• https://docs.junonetwork.io/juno/home-of-cosmwasm
• https://linktr.ee/JunoNet

About Me

I am Adebola by name and I'm also a graduate of Agricultural Engineering (BSC). I am someone who cherish self development and being productive is in my DNA, this is why I am always open to learning from anyone and I love making research. I have been in the crypto space for the past five years and my level of enthusiasm for cryptocurrency and blockchain technology keeps increasing day by day. My hobbies are reading, writing, eating, engaging in agricultural operations, travelling, designing and blogging. My skills include Content writing, Graphic Design, UI/UX (Product) Deisgn, Copywriting, Internet Marketing, Blogging, Research and Coding (Novice). Feel free to connect with me via;

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