We intend 2022 to be a year of rapid growth of the Fetch.ai ecosystem, and towards this goal we have decided to bring forward the launch of our Capricorn network upgrade. This will now proposed to take place on Tuesday the 8th of February.
The most exciting feature of the upgraded network is that it will support a v1.0.0 version of the Cosmwasm Virtual Machine that will, for the first time, provide fast, secure, cross-chain smart contracts that are open to all FET token holders. This Virtual Machine will be compatible with future versions of Cosmwasm, and will allow anyone building on the network to be confident that their contracts will run smoothly on all future versions of the Fetch blockchain.
The other major improvement is that the upgraded network will enable the Inter-Blockchain Communication (IBC) protocol. This allows cross-chain communication so that FET tokens can be used on any other network in the Cosmos ecosystem. Soon after the upgrade, it will be possible to transfer FET tokens to the Cosmos hub and Osmosis networks, so everyone can look forward to FET swaps and liquidity pools on the state-of-the-art Osmosis DEX. The IBC will also enable other tokens such as Terra/UST stablecoins from other chains to be used for AI applications on the Fetch network.
Holders of tokens from the ERC-20 stake migration who have been waiting for the reconciliation service will have a two-week period to migrate their tokens to a new address on the upgraded mainnet. However, donโt worry if you miss out, there will be other opportunities to use the migration service on the upgraded network.
We hope everyone in the Fetch community will support the governance proposal to progress to this exciting new phase of the ecosystem that will help make decentralized machine learning and agent-based systems a reality.