What is Nibiru Chain?

Nibiru is a layer-1 blockchain that aims to become a developer- and user-friendly environment in the web3 sector with the help of the Cosmos SDK framework and the Tendermint Core Byzantine fault tolerance (BFT) mechanism. Its blockchain is designed to enable the development of very safe, compatible, and effective DApps in domains like gaming, real-world assets (RWAs), and decentralized finance (DeFi).

In Palo Alto, California, in 2022, Unique Divine, Kevin Yang, and Jonathan Gimero developed Nibiru Chain. The project has garnered $20.5 million in investment as of mid-March 2024, demonstrating the strong interest of the blockchain-focused venture capital (VC) sector due to its technological benefits and developer-friendly features.

On March 12, 2024, Nibiru debuted its mainnet after launching its testnet in 2023.

How Nibiru Works

Nibiru is a blockchain that runs on the Cosmos SDK and is powered by the delegated proof of stake (DPoS) block validation process. By allocating their stakes to a validator node, users may benefit from DPoS by sharing in the block validation rewards.

The block validation mechanism of Nibiru is made to continue having a high throughput and processing efficiency. Furthermore, because of its BFT methodology, Tendermint Core feature allows for instant finality and emphasizes security to avoid double spending and forking. The network confirms a block of transactions in an average of 1.4 seconds, and the platform can process 40,000 transactions per second (TPS), which is among the highest in the market.

Smart Contracts:

CosmWasm, a modular framework for creating blockchain contracts utilizing WebAssembly (Wasm) technology inside the Cosmos environment, is the foundation of Nibiru's smart contract ecosystem. The main execution engine of Nibiru is powered by these smart contracts.

Nibiru Ecosystem

More than a hundred early DApps and solutions created by the project team and its ecosystem partners are already available on Nibiru Chain. Nibi-Perps, Nibi-Swap, Nibi-Oracle, and NUSD stablecoin are four of the platform's most noteworthy DeFi-related technologies.

1). Nibi-Perps is a completely on-chain perpetual futures exchange that allows trading with up to 10x leverage. It solves market imbalances and lowers latency while addressing DEX issues.

2). Nibiru Oracle Module enables quick and safe real-world data integration into the blockchain, which is essential for Nibi-Perps DEX pricing as well as other features.

3). Nibi-Swap is an automated market maker (AMM) protocol that improves the functionality and liquidity of DeFi by allowing stableswap and constant product pools for spot trading.

4). NUSD is the native stablecoin of Nibiru, provides sophisticated capabilities for yield creation and cross-exchange arbitrage by transferring liquidity from Ethereum to Cosmos.

Nibiru Chain is working on the creation of an integrated, user-friendly Web3 environment in addition to technological advancements. Nibiru views itself as a major participant in the Cosmos ecosystem, fostering innovation in the blockchain and DeFi landscapes.