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Blockchain

Cosmos records 1 million transfers in a month across the ecosystem

October 6, 2021 - Around 2 mins mins to read
Cosmos Là Gì? Giới Thiệu Tổng Quan Về ATOM Token Tháng Năm 31st, 2021

The Cosmos cross-chain network has grown steadily with the projects running on it and has just reached an important operational milestone.

The Inter Blockchain Communication (IBC) protocol, which is the backbone of the Cosmos ecosystem, has seen an increase in activity over the past month with over millions of recorded transmissions.

Cosmos launched IBC in March to enable cross-chain decentralized funding and interoperable token transfers. In the past six months, it has grown significantly, bringing new projects and blockchains into the ecosystem.

Other notable projects working on the protocol include Terra, Band, Kava, and Chaosnet by THORchain.

The ecosystem explorer Mapofzones Cosmos shows that there have been 1,071,132 transfers on IBC in the last 30 days and 45,738 transfers in the last 24 hours.

Automated marketplace maker Osmosis is responsible for a large portion of these IBC log transfers, accounting for 44% of the total, with the Cosmos chain having recorded 307,855 transfers, or 29% of all IBCs, in the last 30 days.

Invest in COSMOS (ATOM), future unifying giant of crypto – Cryptocurrencies – Personal Financial

The IBC standard provides a method of securely exchanging data between independent blockchains while being scaled for different applications through sharding and sidechains. Cosmos is just one of many networks that use the IBC protocol.

Crypto.com, the payment and wallet provider for digital assets, also runs on the Cosmos network. At the end of September she started her own NFT marketplace and platform, which gave her further impetus.

Related: Kosmos-based interoperable DeFi project starts in the mainnet with BNB collateral

In June, the Kava DeFi platform launched on Cosmos, which enables Binance Coin deposits to secure loans with their stablecoin USDX.

Cosmos is also working on a scaling technology that will allow developers to create Cosmos-based blockchains in a roll-up that can be deployed in clusters in IBC regions. In one tweet on October 6, it stated that the scaling technology called Optimint will be an “additional replacement” for the current Tendermint framework on which it is built.

Cosmos has its own native token called ATOM, which has fallen 5.1% to $ 35.39 in the past 24 hours, according to CoinGecko. However, the token is up a solid 37% over the past month, down only 19% from its all-time high of $ 44.42 on September 20.

What is Cosmos ATOM?

.

Cosmos

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Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Blockchain

Cosmos records 1 million transfers in a month across the ecosystem

Cosmos Là Gì? Giới Thiệu Tổng Quan Về ATOM Token Tháng Năm 31st, 2021

The Cosmos cross-chain network has grown steadily with the projects running on it and has just reached an important operational milestone.

The Inter Blockchain Communication (IBC) protocol, which is the backbone of the Cosmos ecosystem, has seen an increase in activity over the past month with over millions of recorded transmissions.

Cosmos launched IBC in March to enable cross-chain decentralized funding and interoperable token transfers. In the past six months, it has grown significantly, bringing new projects and blockchains into the ecosystem.

Other notable projects working on the protocol include Terra, Band, Kava, and Chaosnet by THORchain.

The ecosystem explorer Mapofzones Cosmos shows that there have been 1,071,132 transfers on IBC in the last 30 days and 45,738 transfers in the last 24 hours.

Automated marketplace maker Osmosis is responsible for a large portion of these IBC log transfers, accounting for 44% of the total, with the Cosmos chain having recorded 307,855 transfers, or 29% of all IBCs, in the last 30 days.

Invest in COSMOS (ATOM), future unifying giant of crypto – Cryptocurrencies – Personal Financial

The IBC standard provides a method of securely exchanging data between independent blockchains while being scaled for different applications through sharding and sidechains. Cosmos is just one of many networks that use the IBC protocol.

Crypto.com, the payment and wallet provider for digital assets, also runs on the Cosmos network. At the end of September she started her own NFT marketplace and platform, which gave her further impetus.

Related: Kosmos-based interoperable DeFi project starts in the mainnet with BNB collateral

In June, the Kava DeFi platform launched on Cosmos, which enables Binance Coin deposits to secure loans with their stablecoin USDX.

Cosmos is also working on a scaling technology that will allow developers to create Cosmos-based blockchains in a roll-up that can be deployed in clusters in IBC regions. In one tweet on October 6, it stated that the scaling technology called Optimint will be an “additional replacement” for the current Tendermint framework on which it is built.

Cosmos has its own native token called ATOM, which has fallen 5.1% to $ 35.39 in the past 24 hours, according to CoinGecko. However, the token is up a solid 37% over the past month, down only 19% from its all-time high of $ 44.42 on September 20.

What is Cosmos ATOM?

.

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