Cosmos Ecosystem November Key Updates
There are quite a few major events of note across the Cosmos Ecosystem in the past few weeks; I will be summarizing these events and bringing you up to date on the latest happenings.
Let’s kick off with one of the biggest news right now.
There are quite a few major events to note this past few weeks across the Cosmos Ecosystem; I will be summarizing these events and bringing you up to date to the latest happenings.
CRO price hits new high after Crypto.com wins Los Angeles’ Staples Center naming rights
Crypto.com has always taken an aggressive approach in its marketing campaigns, as seen in advertisements on various platforms. As the value of CRO hits a new all-time high, the spotlight is once again on the company.
CRO spiked when Coinbase listed it on November 2, but this recent surge has been building up for weeks, driven by a couple of events and announcements. The first and most notable was the renaming of the Staples Center to the Crypto.com Arena, to take effect in late December.
In another development, the launch of EVM-compatible network Cronos on November 8 gave CRO’s value a further boost. Cronos aims to massively scale the DeFi and dApp ecosystem by providing developers with the ability to instantly port apps from Ethereum and EVM-compatible chains.
It will be interesting to see how far Crypto.com can go, as the Singapore-based company with the vision of putting “cryptocurrency in every wallet” continues to soar high in value this week.
Cosmoverse Conference 2021
The Cosmoverse Conference held in Lisbon, Portugal last November 5 and 6 was a huge success. Project founders and developers congregated to discuss a number of technologies under development on the Cosmos ecosystem.
During Day 1, we saw Sunny Aggarwal, co-founder of Osmosis, elaborate on the concept of liquidity staking during the panel. Federico Kunze Küllmer of Evmos team discussed how Ethereum-compatibility on Cosmos will make it easier to communicate and deploy smart contracts within the ecosystem. The goal is to achieve full EVM-compatibility by the end of the year. On the other hand, Ella Qiang of Crypto.com discussed the Cronos Chain, an EVM-compatible chain that supports faster, cheaper and safer transfers of assets.
Day 2 featured a couple of upcoming IBC blockchains such as Lido Finance, Celestia, Agoric, Umee, Axelar and Tgrade discuss their projects. You can check out my previous write-up about these projects here:
https://medium.com/@cosmosimpulse/upcoming-cosmos-ibc-projects-worth-checking-out-fc9be993f55e
More Chains Enable IBC
The Cosmos ecosystem is rapidly expanding as blockchains continue to connect, making Cosmos more interoperable than ever before. Terra Network, the latest major player to recently enable IBC, brought its native LUNA token and stablecoin USDTerra (UST) to the ecosystem.
BitSong, Injective, Ki chain, and Secret Network have also recently enabled IBC as well.
DeFi platform Kava, with a planned launch of its Kava 9 mainnet upgrade in late Q4 2021 to Q1 2022, will also implement IBC.
“We will easily see 200 chains connected via IBC by this time next year”, says Tendermint CEO Peng Zhong.
Wrapping Up
Cosmos, the Internet of Blockchains, continues its vision of seamless interoperability among different blockchain ecosystems and enabling vast liquidity to flow freely between major chains. As more chains enable IBC, rewards will accrue to validators which makes me optimistic about future value accrual for ATOM. Combine this with the upcoming Interchain security, a game-changer for the value proposition of the ATOM token, and we have a solid bullish case for the whole Cosmos Ecosystem.
Cosmos, the Internet of Blockchains, continues the vision of seamless interoperability between different blockchain ecosystems, enabling vast liquidity to flow freely between major chains. As more chains enable IBC, rewards will accrue to validators which makes me optimistic about future value accrual for ATOM. Combine this with the coming Interchain security, a game-changer for the value proposition of the ATOM token, and we have a solid bullish case for the whole Cosmos Ecosystem.
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