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RE: dYdX V4 - Why dYdX Chain on Cosmos?

avatar of @muratkbesiroglu
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muratkbesiroglu
@muratkbesiroglu
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Nice read! Glad to hear that the Cosmos ecosystem attracts more attention.

Binance is also built on Cosmos SDK. I think it is one of the decisive factors in the success of Binance. I used Binance as a bridge to transfer funds between a dozen of blockchains to date. I encountered no problems.

Interoperability is an important aspect and the Cosmos ecosystem has already solved this problem through IBS. Multichain bridges of EVM chains such as Multichain and cBridge are user-friendly. They allow fund transfer between all leading chains. They have flaws though. Transfers takes more than 5 minutes and liquidity is an important concern. Security issues may occur as well.

Fund transfer takes less than 10 seconds between Cosmos IBC chains. Channels are created between Cosmos blockchains on IBC. (Not between all of them for now) Once we activate these channels, fund transfers between blockchains are fast, easy, cheap, and secure.

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