According to a medium post on Feb. 20, the Interchain Foundation (ICF), a non-profit organization behind the creation of the Cosmos (ATOM) interblockchain communications (IBC) ecosystem, has committed to spending approximately $40 million in 2023 to develop its core infrastructure and applications. As a part of the Interchain Stack, which is utilized by around 50 blockchains, these include the Tendermint Core (and now CometBFT), Cosmos SDK, Cosmos Hub, and the IBC protocol.
The ICF is also supporting the development of CosmWasm and Ethermint, the technologies the firm says have become the "foundations of smart contract and Ethereum Virtual Machine (EVM) compatible blockchains." In addition to core infrastructure, the ICF will fund projects that drive Cosmos's adoption and use cases. These include programs such as the Interchain Developer Academy, the Cosmos Developer Portal, and the Interchain Builders Program, as well as integration with other blockchain technologies such as Polkadot and Hyper Ledger.