Cosmos (ATOM) Theta Upgrade Is Live and It's BIG! Find Out Why Plus the Looming Evmos Launch

By Michael @ CryptoEQ | CryptoEQ | 13 Apr 2022


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Theta Upgrade

The Theta upgrade was released in April 2022 and featured: 

  • Interchain Accounts
    • Where the IBC on Cosmos enables network participants to easily share tokens between accounts on different chains, the Theta upgrade includes the ability to interact with other accounts (similarly to how Ethereum users interact with Smart Contracts) in other hubs. Interchain accounts are a key step towards interchain security, in addition to having other major impacts on the Cosmos network, essentially enabling developers to leverage existing functionality regardless of the hub on which it exists.  
    • The main benefits from Interchain Accounts are a more seamless user experience with less friction for moving between zones and increased composability. With Interchain Accounts enables, users can yield farm in DeFi, stake in the Cosmos  Hub, vote in governance, and participate in DAOs across all connected zones, all from one account on the Cosmos Hub. Current IBC-chains will become more composable with one another, enabling a transition from their native, single chain business model to interchain native business models.
  • Routine updates to the SDK

Liquid staking is expected in the Rho upgrade slated for Q2 2022; where Liquid Staking essentially allows users to continue transacting with their staked ATOM rather than having it locked up. The Lido team which implemented ETH & Luna’s wildly successful and popular Liquid Staking procedures has suggested a proposal for Cosmos’s future development that builds on the limited V1 functionality of Liquid Staking. The V1 implementation generates representations of ATOM which are associated to a specific delegator/validator; Lido’s proposal would essentially decouple the fact of staking from a specific delegator, while still enabling users to hold onto their tokens (despite staking). The Rho upgrade will also include an NFT module for basic NFT management. 

 

Evmos sometime this month

EVMOS stands for EVM (Ethereum virtual machine) and CosmOS. It is a scalable, high-throughput PoS (Proof of stake) zone on Cosmos that is fully compatible and interoperable with Ethereum. It’s built using Cosmos SDK and runs on top of the Tendermint Core consensus engine.

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Source

The Evmos hub has been experimenting with an incentivized testnet since 2021 and has a mainnet launch underway as of Q2 2022. Evmos makes it easy for all EVM smart contracts to deploy and communicate within the Cosmos ecosystem. It will serve as the Cosmos ecosystem’s connection to Ethereum, Fantom, Avalanche and Harmoney as well as their $130B+ DeFi TVL. 

Developing on Evmos enables developers to:

  • Leverage existing Ethereum infrastructure, tooling, and dAoos while offering low gas fees and fast finality
  • Interoperability to other IBC chains
  • Exposure to all EVM chains like Avalanche C-Chain, Fantom, and more

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Michael @ CryptoEQ
Michael @ CryptoEQ

I am a Co-Founder and Lead Analyst at CryptoEQ. Gain the market insights you need to grow your cryptocurrency portfolio. Our team's supportive and interactive approach helps you refine your crypto investing and trading strategies.


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