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Sommelier Partners With Mysten Labs To Increase Liquidity Transaction Speeds

Sommelier, a co-processing protocol to the Ethereum Virtual Machine (EVM) has partnership with Mysten Labs to increase liquidity transaction speeds and launch smart contract applications on the Cosmos blockchain.

It has been reported that Sommelier is a test-net protocol designed to deliver enterprise-grade automated financial transactions such as limit orders, batched orders and portfolio rebalancing to decentralized finance (DeFi) traders and liquidity providers (LPs).

However, the blockchain, which combines the Tendermint consensus layer, Cosmos Stargate SDK, and dual-way Ethereum bridge, will work with Mysten to implement Move smart contract programming to provide the entire ecosystem of Cosmos developers, as well as those on its Ethereum Gravity Bridge, with smart contract capabilities.

The report said that Mysten Labs is a Web 3.0 infrastructure platform founded this year by the team of cryptographical program engineers responsible for the blockchain architecture of Facebook’s crypto-payments platform Diem and its respective mobile wallet Novi. Mysten’s experience in the field will reportedly support the scaling of the Sommelier blockchain to 100,000 transactions per second (TPS).

Thus, Zaki Manian, the co-founder of Sommelier, said:

“What we are doing with this partnership is completing the work of unleashing Tendermint's potential to be the fastest blockchain network in datacenter class environments.”

Source: Cointelegraph



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