The Cosmos ecosystem has grown to the point that it now provides security over $130 billion in assets. Due to updates and greater usage, SCRT Secret Network and OSMO Osmosis are exploding at a faster rate. In the midst of the Osmosis rise, non-fungible tokens are stalling.
On the other hand, in noteworthy developments, Indian legislators are aiming to create digital assets more available to their residents. Kwon stated why he is litigating the US Securities and Exchange Commission. US authorities are looking into how banks could store digital assets.
Cosmos, ATOM, is a blockchain ecosystem that can grow and communicate with one another. Blockchains have previously failed to fully communicate with one another. These have had low transaction speed due to differences in programming languages, making it difficult to recruit engineers to new chains.
The idea, as per the Cosmos website, is to establish an Internet of Blockchains. This is a network of decentralized blockchains that can connect with one another. Blockchains may retain independence, execute transactions rapidly, and interact with some other blockchains in the environment using Cosmos, making them ideal for a wide range of use cases.
This ambition is realized through a combination of open-source tools including Tendermint, the Cosmos SDK, and IBC. This will allow users to swiftly create bespoke, safe, scalable, and interoperable blockchain apps.
Cosmos is the most advanced economy beyond Ethereum, with over $137 billion in assets under management. Considering the project’s success, Cosmos’ native token, ATOM, remains only the 24th most valuable cryptocurrency, with such a market valuation of $9.137 billion.
ATOM was selling approximately $41 at the time of publication, up 16.5% in the past 24 hours.
Cosmos’ Supernova
According to Messari’s Ryan Watkins, the industry is starting to notice Cosmos, which is perhaps the most mature ecosystem beyond Ethereum. It’s near as if the Cosmos ecosystem, which is home to over $100 billion in assets and many of the industry’s most prominent blockchains, counts.
Secret Network is a technology that provides smart contract privacy by default, addressing a long-standing issue in the digital asset market. This enables developers and users to create and utilize applications that are both permissionless and privacy-preserving, protecting users’ personal details and enabling hundreds of previously unimaginable use cases.
Supernova, undoubtedly the biggest overhaul in protocol history, is slated to be live on Mainnet on November 9. Which might be causing the +320.19% positive price activity have seen over the last month.
Supernova unveils its IBC connection, according to Guy Zyskind, the founder and Chief executive of Enigma. He is also one of the primary development teams underlying Secret Network.
They ultimately linked Secret Network to blockchains throughout the Cosmos ecosystem, including Ethereum, BSC, Monero, Terra, Polkadot, and many others.
SCRT may now be utilized in cross-chain Cosmos applications like Osmosis and Gravity DEX. Its confidentiality characteristics are available to the whole Cosmos ecosystem thanks to IBC.
This solidifies their place as the decentralized website’s data protection hub and opens the door to our future stages of growth and acceptance.
OSMO, the cosmos environment’s biggest computerized market maker, has specifically gained almost 23% in the previous 24 hours. Today’s liquidity and trade volume have soared. The company’s development has been phenomenal since its introduction on June 19, 2021.
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