I have been following Cosmos, since I have invested in their atom tokens and staking at 12% yield. In addition to the coin going up in value, including the rewards. I am starting to get an appreciation of the kinds of Inter-blockchain bridges that are being built using this platform:
Binance is using Cosmos as a platform for their DEX
Connections have been built to Bitcoin, Eth and XRP blockchains
Will this bring things like smart contracts and Poof of stake to Bitcoin and XRP? The ability for blockchains to communicate and inter-operate, will open up a whole new level of usefulness and adoption. For now, each blockchain is isolated and an island until itself with limited specialised capabilities. What will happen when different chains can talk to each other, and work together? For example: https://medium.com/kava-labs/defi-coming-to-cosmos-808034b733be
Is this the next stage of decentralised apps like Defi? I believe that there will be tremendous benefits in terms of liquidity, ease of use, and flexibility.
What do you think?