Crypto.com Launches Cronos, Band Protocol with Cosmos through Starport, Secret Network with IBC in September 2021

 415 total views


2021-07-30 08:55:31

The Cosmos ecosystem is growing rapidly, as important areas begin to emerge. Cosmos Panorama is a weekly series that will keep you updated on the Cosmos ecosystem and provide useful insights to find investment opportunities.

Overview of the current Cosmos ecosystem

Important updates

  • Secret Network approved the proposal to deploy IBC on the Mainnet, the upgrade is expected to take place in early September.
  • Through Starport, Band Protocol has been integrated into Cosmos to provide Oracle solutions for projects in the Cosmos ecosystem.
  • Crypto.com has launched Cronos, an EVM Compatible chain, which is currently in testnet.

Impressive numbers in the Cosmos . ecosystem

  • After about a month of debut, Osmosis achieved $85M TLV, average daily trading volume reaches $3.7M, ATOM-OSMO is the most liquid trading pair.

New projects in the Cosmos . ecosystem

  • Interlay: The project facilitates the transfer of Crypto assets between blockchains, allowing the introduction of other Crypto assets into the Cosmos ecosystem (similar products wBTC, renBTC,…). The project has just announced that it has completed a Seed Round worth $3M from several Ventures such as: IOSG Ventures, Launchub Ventures, Blockchain.com Ventures, KR1, Hypersphere Ventures, CMS Holdings, Zee Prime Capital, ..

Analysis of the small universes in Cosmos

Band protocol integrated with Cosmos

Band Protocol has integrated with Cosmos through Starport, which is one of the convenient ways to build on Cosmos. Combined with IBC Bridge, application developers can easily access the service Oracle powered from the Band protocol as they grow on the Cosmos ecosystem.

We all understand the importance of Oracle in building the ecosystem, especially the development of Oracle DeFi. With this integration, the process of using Oracle will become easier for developers.

Crypto.com Launched Cronos, an EVM Compatible chain

July 20, 2021, Crypto.com introduced Cronos testnet, an EVM Compatible chain.

The architecture and relationship between the chains of the project will be similar Binance Chain & Binance Smart Chain, Cronos is an EVM Compatible Chain that runs parallel to the Crypto.org Chain. It aims to scale the DeFi ecosystem, by providing developers with the ability to easily migrate applications from Ethereum to Cronos.

Through the IBC functionality, Cronos enables easy interoperability and connectivity with Crypto.org Chain and low gas costs. IBC also allows Cronos to interact with other IBC-enabled Chains (e.g. Cosmos Hub).

Cronos will run Proof of Authority (POA), the project has also confirmed great support from the community and industry partners in running Nodes to secure the network (estimated to be around 20 Nodes).

With abundant financial resources and a large Users file from Crypto.com, it can be considered that Cronos is another version of BSC, whether Cronos will be as successful as BSC, Polygon, … or will it bloom and then die like that. like the vast majority of other EVM Compatible chains?

Conclusion

To sum up, three notable events that took place in the Cosmos ecosystem in the past week can be mentioned as:

  • Crypto.com Launches Cronos, an EVM Compatible.
  • Secret Network has approved the proposal to deploy IBC on Mainnet, the upgrade is expected to take place in early September.
  • Band Protocol integrates with Cosmos through Starport so that application developers can easily access Oracle services provided from Band protocol as they develop on the Cosmos ecosystem.

Subscribe to the channel CHK Insights News to get the fastest updates on all outstanding information and events about Cosmos in the Panorama issues of CHK Insights!

Disclaimer: All information in this article is for informational purposes only and should NOT be considered investment advice. Investing in cryptocurrencies involves extremely high risk and you should only invest the amount that you are willing to lose.

.

#Cryptocom #Launches #Cronos #Band #Protocol #Cosmos #Starport #Secret #Network #IBC #September

Leave a Reply

Your email address will not be published. Required fields are marked *