How Big is the Cosmos?
How Big is the Cosmos?
As you maybe aware I have currently commenced focusing on the Atom network which is often referred to as Cosmos. It is what people are labelling the 3rd iteration of Blockchain technology.
Moving away from single asset or layer 1 blockchains such as Bitcoin, although the lightning network being built on Bitcoin seems promising and building beyond smart contract blockchains such Ethereum which are layered but often experience high congestion and transaction costs due to high use.
The Cosmos is building an inter connected decentralised world which we covered a few days ago in my Leo Finance Learn: Atom article.
How Big is the Current Atom Network
But I had an interesting comment in yesterdays post by @jfang003 who asked if Atom was only for chains built on Atom and if Keplr wallet also was able to be used for other assets.
Well it isn't a straight forward question but in short, yes. So long as IBC has been installed on the tokens chain. Obviously this isn't as easy as it sounds as it requires a governance proposal and then someone to actually install the code onto the chain which isn't an easy task.
But despite the challenges many many blockchains have been slowly and surely implementing IBC into their code to enable cross-chain transactions.
So much so that there are currently over 265 dApps and services making up over $US64 Billion in value, no small slice of the pie.
Are there any main chains?
The exciting thing about Atom is that it is linked up to other main chains such as Binance, Matic, Secret and many other fan favourite chains which are growing everyday.
Use cases might be quite low at current but the ability to easily and rapidly move tokens around will soon create never before seen abilities and enable a whole new generation of decentralised web.
What are some use cases you can come up with or blockchain barriers that Cosmos could potentially solve?
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