Atom Cosmos: Cross-Chain DEX's Rise
Atom Cosmos: Cross-Chain DEX Rise
Good morning Lions I trust you are safe and well riding out the current market down turn which hasn't been to bad overall and slight market gains.
3Speak Stats were out a few days ago and I ranked top 5 content creators and my Tik Tok is also starting to pick up which is a great thing for Hive Blockchain with more viewers seeing the brand.
I've popped together a quick Vlog in regards to Atom and it's Cosmos eco system and IBC protocol.
But building on more questions from yesterays Blog How Big is the Cosmos we had some questions about what is unique about Inter-Blockchain Connection.
In short it takes things to a whole new level never before seen, as we covered in the previous blogs any chain is able to participate in cross chain through installing the IBC protocol. There are some discussions around double spends which Atom has developed Hubs so every transaction needs to go through a hub prior to going to the new Network to ensure double spending of tokens doesn't occur.
But beyond just swapping tokens from one chain to the next there is a real benefit of cross chain Decentralised Exchanges (DEX) which are set to make a lot more money than previous protocols.
Osmosis still remains one of my top cross chain DEX but now we are starting to see more come online with the clone of Pancake Swap launching called Burger Swap. Although I am not too sure how well it will go into the future but it should still gain some traction being built on Binance Smart Chain which has a significant amount of clients utilising the chain on a daily basis.
I'm excited to see what else comes to fruitition with cross chain development. What are some of your use cases you think it solves?
Image Sources: Hive Cosmos
This is not financial advice and readers are advised to undertake their own research
▶️ 3Speak
The Cosmos ecosystem has grown massively over the last twelve months, with good reason, and it's likely to continue growing equally rapidly for some time to come as existing projects expand and new ones are launched. The core Cosmos chain offers a stable base for others to build out more specialised chains, that then have the ability to easily connect to one another. Great approach.
It is a defining moment in crypto history with the ability to connect all blockchains drastically reducing congestion and increasing TPS.
More sustainable and a better user experience.
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I've been in Cosmos since about this time last year. We saw such massive growth in the past 12 months but in the last 2 months, especially since the implosion of Luna/Terra, every single Cosmos protocol token has been hit super hard.
I've lost about 70% of my investments in $SCRT, $OSMOS, $ATOM, $JUNO and $DECENTR which are my favorite Cosmos based tokens.
Tokens like Secret, which purport to be l2 security protocol enhancing tech, always struggle a lot to keep momentum. Just look at Monero $XMR!
I still have a lot of faith in the blockchain and in people actually staying because of the promise of great riches, transformative tech and being part of something revolutionary.
However, we're really struggling right now across the board in Cosmos I think.
Competition is great, but there's so many performant and affordable blockchains now, we're really competing for attention with chains like Fantom, Avax, Optimism and now Evmos.
I think the next 12 months are going to be a time in our lives none of us will ever forget though.
That's why I stay.
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I think Secret will struggle a bit going forward as it also has a algo stable coin and people will be hesitant to trust it. Development on Secret has been slow too with the Shade airdrop occuring but not much else.
I think Cosmos will continue to take some time to develop and lead but eventually one that may impress.
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