Cosmos Set to Take Lead in Blockchain Interoperability With February’s Stargate Release

Cosmos Set to Take Lead in Blockchain Interoperability With February’s Stargate Release

Right now, blockchains communicate via tacked-on solutions (state channels, sidechains, swaps, bridges and so on). With the Stargate update to Cosmos on Feb. 18, the tools for native blockchain interoperability will be live on mainnet.

“This is a long-awaited release for many Cosmos-based projects out there,” Band Protocol’s Kevin Lu told CoinDesk via email. “For us this will enable seamless and simple integrations with any Cosmos-based decentralized application, relaying oracle data in a highly scalable and tamper-proof manner.”

Iqlusion’s Zaki Manian, who leads much of the development for Cosmos, explained that once Stargate goes live, a governance vote will be required to switch on inter-blockchain communication (IBC), which will take two weeks to finalize.

So at the earliest, all systems go for IBC would be early March. That said, Tendermint chains need to upgrade to the Cosmos SDK for this to happen. Manian said this is probably one or two weeks of work for most dev teams and they don’t need to wait for Stargate to kick in to start.

If Tendermint-based chains activate Stargate en masse, this has the potential to be a big moment – not just for Cosmos but in the whole history of crypto.

There have been a lot of standalone bridges between blockchains built so far, but Stargate could mark a new era in composability, where we see one big system that lets lots of different chains trade value and build on each other’s strengths.

Many chains

There are more notable Tendermint-based projects than many may realize.

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A new site called Cosmos-Cap is tracking the market capitalization of projects in the ecosystem, currently valuing all the chains together at just under $13 billion. The native token of Cosmos, ATOM, is currently trading around $8, with a market cap of $1.9 billion on its own.

While not on that list, the payments and remittances blockchain Celo has also taken steps to connect with Stargate.

THORChain, which enables assets to be swapped across chains (sort of like Uniswap), told CoinDesk, “THORChain is Stargate-ready, but more work needs to be done to make it IBC-ready, that is in the works currently.”

Other teams are also busy.

“The current plan for Band Protocol’s Stargate connection is to have testnet by Q1 and mainnet by Q2 for Stargate support,” Lu wrote, enabling the team time to be very confident in its implementation.

Do Kwon, a co-founder of Terraform Labs, which runs the Terra chain, confirmed it would upgrade but not until Stargate has had some time in the wild. “The earliest we would move to upgrade is May,” he wrote in an email.

Spokespeople for Celo and Oasis confirmed the teams are working toward IBC implementation, but without giving a timeline.

Binance, whose BNB coin represents the most value in the ecosystem, sent CoinDesk the following statement: “We will not be able to join the Stargate timeline to support the IBC. The Binance Chain community will discuss when and how to support this initiative.”

THORChain also emphasized that, like many big upgrades, Stargate will add other benefits for Tendermint-based blockchains, such as faster throughput and implementation of Google’s protocol buffers standard (which should also be good for interoperability).

Close followers of the project may have heard Stargate would launch on Jan. 28, but the date was pushed back. Manian told CoinDesk this decision was driven by a bug that was found and fixed. It was useful anyway because the exchanges still were not ready for the update.

Since 2019, the Cosmos project has been as volatile as cryptocurrency generally.

While in late 2019 CoinDesk noted the financial health of the project thanks to conservative treasury management, by early 2020 it appeared to be falling apart from a personnel standpoint. By the summer, however, it seemed Cosmos had weathered its internal storms.

Going forward, every time a blockchain clicks into IBC it is likely to put pressure on other Tendermint projects to get their upgrades done. With even a few interoperating, composability should start kicking in and FOMO will drive stragglers to get in fast.

How to Buy Cosmos (ATOM) Right Now • Benzinga

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Want to jump straight to the answer? You can buy ATOM on Coinbase and Kraken.

Cosmos $11.85 Buy Cosmos

As cryptocurrency projects continue to advance, developers must tackle issues with scalability and useability if they want to see widespread implementation of blockchain technology. Cosmos is a unique cryptocurrency project that seeks to make blockchain projects easier to use, faster and more intuitive for developers. Our guide to Cosmos and cryptocurrency investing will help you add this unique offering to your portfolio.

Brief History of Cosmos

Branding itself as the “internet of blockchains,” Cosmos is a cryptocurrency blockchain project that aims to solve some of the issues that limit the widespread institution of cryptocurrencies. Some of these issues include:

Scalability: As more and more transactions are added to a blockchain, it takes more time to complete each transaction using the standard proof-of-work protocol. Cosmos attempts to solve this problem with its native Tendermint BFT byzantine fault-tolerant consensus engine.

As more and more transactions are added to a blockchain, it takes more time to complete each transaction using the standard proof-of-work protocol. Cosmos attempts to solve this problem with its native Tendermint BFT byzantine fault-tolerant consensus engine. Usability: Blockchain projects are complex and are often too difficult for even experienced software developers to use and implement. The Cosmos SDK platform provides developers with an easier modular framework to implement blockchain technology on their projects.

Blockchain projects are complex and are often too difficult for even experienced software developers to use and implement. The Cosmos SDK platform provides developers with an easier modular framework to implement blockchain technology on their projects. Compatibility: Cryptocurrencies built on different blockchains typically cannot “communicate” with or transfer data between themselves. Cosmos’ IBC Protocol implements a messaging-like system that affords blockchains a higher level of compatibility.

The Cosmos token, ATOM, powers the functionality of the network and can be bought and sold on many major exchanges. Cosmos was launched in 2014, and quickly rose through the ranks of cryptocurrency projects thanks to its innovative structure. Cosmos is currently the 61st largest cryptocurrency when measured by total market capitalization, with a market cap of about $1.56 billion.

Step 1: Open an Online Account.

The easiest way to purchase most types of cryptocurrencies is by opening an account with a cryptocurrency broker. A cryptocurrency broker is similar to a stockbroker because it will provide you with a platform that you can use to execute buy and sell orders for cryptocurrencies. As a relatively popular cryptocurrency project, you’ll have a few options when you select a broker to buy and sell Cosmos. A few of the factors you might want to compare between brokers before you open an account may include:

Commissions and fees: Though many stockbrokers now offer commission-free investing in stocks and ETFs, you shouldn’t assume that your cryptocurrency broker will provide you with free trades. Compare each broker’s annual and maintenance fees, as well as any commissions that you’ll incur when you make a trade. These fees can quickly cut into your profits as an investor, especially if you plan on trading frequently.

Though many stockbrokers now offer commission-free investing in stocks and ETFs, you shouldn’t assume that your cryptocurrency broker will provide you with free trades. Compare each broker’s annual and maintenance fees, as well as any commissions that you’ll incur when you make a trade. These fees can quickly cut into your profits as an investor, especially if you plan on trading frequently. Trading platform: The broker you choose will provide you with a trading platform that you can use to place buy and sell orders. You’ll want to choose a broker that offers a trading platform that fits your needs. If you’ve traded cryptocurrencies before or you plan to be an active investor, you might want to search for a broker that provides a wider range of analysis tools. If you’ve never invested in cryptocurrencies before, look for a broker that provides more educational resources and a more intuitive platform.

The broker you choose will provide you with a trading platform that you can use to place buy and sell orders. You’ll want to choose a broker that offers a trading platform that fits your needs. If you’ve traded cryptocurrencies before or you plan to be an active investor, you might want to search for a broker that provides a wider range of analysis tools. If you’ve never invested in cryptocurrencies before, look for a broker that provides more educational resources and a more intuitive platform. Available coins and tokens: There are thousands of cryptocurrencies and cryptocurrency projects in the world, and new tokens are always being introduced. No single broker is capable of offering you access to every cryptocurrency on the market. If you’re interested in investing in cryptocurrencies beyond ATOM, check your broker’s list of supported coins before you open an account. The ideal broker will offer you a single platform that you can use to buy and sell all the cryptocurrencies you want to add to your portfolio.

There are thousands of cryptocurrencies and cryptocurrency projects in the world, and new tokens are always being introduced. No single broker is capable of offering you access to every cryptocurrency on the market. If you’re interested in investing in cryptocurrencies beyond ATOM, check your broker’s list of supported coins before you open an account. The ideal broker will offer you a single platform that you can use to buy and sell all the cryptocurrencies you want to add to your portfolio. Mobile access: Not every broker offers a mobile app. If you’re the type of investor who prefers to trade when on the road, be sure that your broker offers a mobile investing platform that’s compatible with your device.

Not every broker offers a mobile app. If you’re the type of investor who prefers to trade when on the road, be sure that your broker offers a mobile investing platform that’s compatible with your device. Security features: The cryptocurrency market is still largely unregulated. This means that security breaches and hacking attempts can cause significantly more damage to your investment and your capital when compared to brokers and credit unions, which usually carry insurance. Search for a broker that offers high-level security features (like 2-factor authentication and multi-layer encryption) to ensure that only you have access to your accounts.

If you aren’t sure where to begin your search for the best cryptocurrency broker, consider a few of our favorite options below. These choices offer access to ATOM trading and are excellent options for beginners.

Best For Crypto Investing Overall Rating Read Review Get started securely through Coinbase’s website More Details Best For Crypto Investing N/A 1 Minute Review Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality. Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade. Best For New cryptocurrency traders

Cryptocurrency traders interested in major pairs

Cryptocurrency traders interested in a simple platform Pros Simple platform is easy to operate

Comprehensive mobile app mirrors desktop functionality

Coinbase Earn feature rewards you with crypto for learning about available coins Cons Higher fees than competitors Pricing as low as 0%. Account Minimum Depends on asset get started securely through Kraken’s website

Step 2: Buy a Wallet.

After selecting a brokerage company, you’ll also want to choose a cryptocurrency wallet. A crypto wallet is a software program or piece of hardware that allows you to store your cryptocurrency off an exchange. This reduces the possibility of seeing a theft or hack harm your account.

There are 2 major types of cryptocurrency wallets: software wallets and hardware wallets. Software wallets provide you with a free method that you can use to store your investments, while hardware wallets provide you with the highest level of security. Let’s take a look at our favorite software and hardware options for Cosmos investors.

Best Hardware Wallet: ELLIPAL Cryptocurrency Hardware Wallet

Investors who are searching for a 1-stop-shop for all of their crypto storage needs will love the ELLIPAL Titan hardware wallet. The Titan supports 30 unique coin offerings and over 1,000 ERC-20 tokens — you’re unlikely to own a project that cannot be stored on your ELLIPAL model thanks to its universal multi-chain account system. The device uses an air-gapped and isolated network to provide you with the highest possible level of security for your investments. You can even track and manage your coins wherever you are with the ELLIPAL’s seamlessly integrated iOS and Android app.

Best Software Wallet: Trust Wallet

One of the major benefits of software wallets is their flexibility — a quality that Trust Wallet fully embraces. Trust Wallet is a free app available for iOS and Android devices that allows you to store a wide variety of coins and tokens using a single app. Trust Wallet offers dApp compatibility and functionality, which can be especially useful for Ethereum developers and enthusiasts. Trust Wallet also has an integrated exchange that allows you to buy Bitcoin and other cryptocurrencies in as little as 5 minutes and then transfer them directly to your wallet.

Step 3: Make your Purchase.

When both your wallet and your brokerage account are open and functional, you can place an order to buy Cosmos through your broker’s trading platform. The specific process that you’ll need to go through to place an order will vary by broker, but most brokers offer a simple and straightforward process that’s similar to the process used to buy and sell shares of stock. The length of time that it will take to fill your order will vary depending on current market conditions and the type of order you use. When your broker is able to complete your order, you’ll see your investment in your brokerage account.

Bonus Tip: Sifchain, a decentralized omni-chain platform, has recently announced that it has successfully deployed a functioning bridge between the Cosmos and Ethereum networks. This development may cause the price of ATOM to rise in the future, especially along with Ethereum, as this bridge makes its coins easier to access and store safely.

Trade or Sell Your Cryptocurrency

When your order is complete, you’ll need to decide how you want to see a return on your investment. There are 2 major ways that cryptocurrency investors can see a profit:

Long-term investing: If you believe that the price of ATOM will rise over the course of weeks or months, you can take a long-term approach to investing by holding onto your coins. Be sure to transfer your investment to your wallet as soon as possible to avoid the possibility of a theft.

If you believe that the price of ATOM will rise over the course of weeks or months, you can take a long-term approach to investing by holding onto your coins. Be sure to transfer your investment to your wallet as soon as possible to avoid the possibility of a theft. Short-term investing: You can also earn a return on your investment by capitalizing on short-term ATOM price movements. Day traders and scalpers take advantage of the volatility of the cryptocurrency market by strategically converting their lot of ATOM to and from a stablecoin when it’s most advantageous for each coin.

If you’re thinking about taking a short-term approach to cryptocurrency investing, you’ll need a quick, comprehensive trading platform. You can start your search with a few of our favorite options below.

Current Crypto Prices

The cryptocurrency market is constantly moving. Coin and token supply, market news, project announcements, government decisions and tech advancements are just a few of the many factors that can influence the price that you’ll pay for the tokens and coins you invest in. Understanding how the market is moving when you decide to invest can ensure that you end up with the most advantageous investment possible. Take a glance at our movement chart below to see how some of the biggest names in cryptocurrency are changing in value today.

Creating the Perfect Crypto Portfolio

Cryptocurrency investments can add an excellent layer of diversification to any portfolio. However, remember that this sphere is still largely under development and does not enjoy the same regulations as the stock and bond markets. If you do decide to invest in ATOM or any cryptocurrency project, be sure this investment makes up only a small percentage of your overall portfolio.

Cosmos (ATOM) Readies for ‘Stargate’ Launch, Catches the Attention of Grayscale

Decentralized Finance is all the rage – enough so that institutional companies are taking notice. Grayscale, operator of the ‘Grayscale Bitcoin Trust’, has recently submitted multiple filings which would open the door for more products of this kind. These particular filings are noteworthy, as they primarily represent offerings which identify primarily as DeFi projects.

The most recent round of filings specifically addressed the following assets.

Cosmos

Polkadot

Monero

Aave

While it may be some time before Grayscale makes use of any approved filings, it appears determined to be ready to hit the ground running when it decides to enter the fray.

To date Grayscale has opened up Trusts in the following assets.

Bitcoin

Bitcoin Cash

Ethereum

Litecoin

Stellar

XRP

zCash

Cosmos Stargate

With thousands of projects to choose from, why has Grayscale chosen the select few that it did? Cosmos for example has managed to rise within the ranks of digital assets since its launch. At the time of writing, Cosmos sits firmly as the 25th largest project tracked by CoinMarketcap. Perhaps the reason that Cosmos has been able to achieve this level of popularity –along with the attention of Grayscale- is on the backs of its development team. A prime example of its work, is the upcoming launch of ‘Stargate’.

Described as ‘The Internet of Blockchains’, Stargate is an initiative that is structured around the idea of interoperability. While Stargate is expected to offer various upgrades to blockchains within the Cosmos ecosystem, it is the ability to connect them all that is most intriguing.

Cosmos refers to this capability as ‘inter-blockchain communication (IBC)’. By bringing support for IBC, each of the public and private blockchains comprising the Cosmos ecosystem will be able to transfer not only value between one another, but data. The intended result is that Stargate will act as a hub, providing on/off ramps between an entire community of projects.

A few of the other upgrades to be expected with Stargate are as follows.

Faster and cheaper through use of Protobuf (serialization standard)

Expected to result in transaction through increase of 10-100x

Full featured light clients

Chain upgrade modules

While Stargate is expected to launch on February 18th, it will most likely be some time before Cosmos users implement the upgrade and IBC.

Decentralization has long been a calling card for blockchain projects, and various blockchain projects are quite decentralized within themselves. They however typically remain isolated from the larger sector. If all goes well, Stargate has the potential to bring decentralization to the industry as a whole.

To learn more about Cosmos, read our Investing in Cosmos Guide.