Crypto

200 Interconnected Blockchains in COSMOS – ATOMIC Explosion in Perspective?

COSMOS, champion of interoperability: In an interview with Cointelegraph on the eve of the largest Cosmos hackathon (ATOM) to be held on November 11, 2021 in Lisbon, Tendermint CEO Peng Zhong offers his analysis on the blockchain and its communication between blockchains. (IBC) protocol. The latter, which was launched by Cosmos in March 2021, ensures communication and transfer of assets between different blockchains. Tendermint is the main developer of Cosmos.

Cosmos IBC: 200 to hundreds of thousands of linked blockchains

According to Zhang, the launch of the IBC was a “highlight” of Cosmos in 2021. He points out that 22 blockchains today support the IBC while in their early days, the projects did not necessarily have ideas on how to use the protocol. Zhong indicates that the number of cross-chain activities was higher than expected and that “we are seeing a very positive growth cycle with IBC activated,” with blockchains being able to connect to decentralized exchanges in the ecosystem.

Zhong predicts about 200 channels interconnected through the IBC in 2022, and “tens of thousands, if not hundreds of thousands of channels linked” in five years.

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Cosmos’ immersion in the metaverse, his greatest contribution to DeFi

Zhong also spoke about other topics, such as Tendermint’s plans to bring Cosmos to the metavers. The latter, according to him, “is not very defined at the moment”, specifying that there will surely be the Metaverse that Facebook wants to build, but also other versions such as those of Google or Apple. For the CEO of Tendermint, the version of the metaverse “that most of us want today is open and without permission.”

Zhong also called Cosmos “the only ecosystem that tries to democratize access to finance, more than any other ecosystem.” It notably highlighted the fact that a project does not need to buy a token or pay for gas to build in Cosmos, thus removing costly barriers to entry:

“And I think that’s a very valuable thing in economies where you can’t really afford expensive transactions, and when you don’t really have the capital to really experiment with these hybrid ecosystems, like Polkadot or Avalanche or Ethereum, and attract the people who have the time. “

Zhong therefore anticipates an explosion in the number of interconnected blockchains through the IBC starting in 2022. The price of its native cryptocurrency ATOM had recently risen thanks to Cosmos’s connections to Ethereum (ETH) and Bitcoin (BTC). ).

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