The Cosmos Blockchain is now whole and complete with interoperability now enabled
Cosmos Blockchain this year developed to become a whole complete chain that’s not just scalable but interoperable as well. The chain that already has hundreds of enterprise level dapps like Terra, Binance Chain, Akash Network, Thorchain became whole, turning into a internet of Blockchains after the Inter-Blockchain Communication (IBC) protocol got activated.
The IBC protocol enables any sovereign Blockchain that’s IBC compatible to be able to transfer tokens and data with the Cosmos HUB.
So, all the dapps within the Cosmos Ecosystem get interconnected when they are IBC enabled. Beyond this, even outside Blockchains like Polkadot and Cardano can be connected with the Cosmos HUB when the Blockchains are made IBC compatible. Therefore, interoperability was made possible for the Cosmos Blockchain and with this milestone Cosmos Blockchain’s first Road Map got completed.
Cosmos is one of the top available decentralised Blockchain platforms of today
The completion of the first roadmap had Cosmos Chain get established as a POS Blockchain with staking enabled for delegators to earn rewards while validators earned ATOM for securing the network. Further, on-chain governance allowed ATOM Holders to vote for upgrades to the network, while the chain attracted the developer community because of which there are about 240 dapps active in the network.
Therefore, Cosmos is one of the major decentralised Blockchain platforms of today that has everything one wants a Blockchain Platform to have.
Now Cosmos has developed its second roadmap. The vision here is to further develop Cosmos, with the Blockchain set to have DEFI dexs, bridges to connect with the Ethereum network and more.
The Development Road ahead for the Cosmos Blockchain
DEFI Dexs and a Bridge to connect with the Ethereum Network
Quite soon, Cosmos will have DEXs, with Gravity Dex and Osmosis set to launch soon. Gravity bridge is being built for Cosmos to connect with the Ethereum Network.
This bridge will enable transfer of Ethereum and ERC-20 tokens to the Cosmos network while Atom and other tokens within the Cosmos Network can be sent to the Ethereum Network. This will provide good liquidy for DEFI ecosystems in both Cosmos and Ethereum networks.
Staked Atoms can be collateralized to be made use in DEFI
Further, Atom tokens that were delegated to secure the network, can be collaraterised to be used in DEFI for lending and swapping functions. Atom tokens that are delegated have a bond period of 21 days which is a long time. Now, these delegated tokens that earn staking rewards can be used to earn other rewards from the DEFI landscape .
Cosmos HUB validators can secure child chains of the Network
There will be inter chain staking as well where validators of the main chain can secure child chains inside the Cosmos ecosystem. This will enhance the security of the various projects inside the Cosmos chain. These validators are liable to be penalised with slashing of their Atom stake in Cosmos HUB if they misbehave.
So projects can build in Cosmos without worrying about security or the need to establish separate validators to secure the project’s chain as they can opt to have Cosmos HUB validators secure their network. Cosmos validators on the other hand can earn more rewards by validating child chains of the Cosmos HUB.
Now, Atom token would be used much more in the Cosmos Blockchain, therefore, fundamentally one can be bullish on Atom. When compared to other Blockchain projects, Cosmos gets less noticed, while Binance Smart Chain, Polkadot and Cardano are widely mentioned as Blockchain platforms of potential.
Unnoticed potential of the Cosmos Blockchain and the undervalued Atom crypto
However, Cosmos has been a ready to use decentralised Blockchain platform for a while with Polkadot and Cardano being still due to get launched for Dapps to be live there. Definitely, Cosmos deserves a bold mention as a decentralised Blockchain platform with great potential, which is why ATOM crypto is a good purchase now as it’s undervalued.
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