Cosmos Records 20% Gain, What’s Behind The Boom In Its Ecosystem
2022年2月8日 - 03:00AM
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The Cosmos ecosystem has seen an explosion of interest in the past
year. Projects like Terra (LUNA) have increased its numbers of
users and will continue to boost its position in the crypto space
as its ecosystem keeps expanding. Related Reading | Cosmos (ATOM)
Jumps 36% WTD: What’s Driving Its Price Rally? As of press time,
Cosmos (ATOM) trades at $32,57 with a 7% profit in the past 24
hours. The cryptocurrency follows the general sentiment in the
market, as Bitcoin (BTC), Ethereum (ETH), and other large
cryptocurrencies trend to the upside in lower timeframes. In an
official blog post, the team behind Cosmos recently announced the
new project to be release as testnets in 2022. The team celebrated
Terra, Secret Network, Osmosis, and other projects in the ecosystem
and announced others that will be introduce this year. The team
said: Many up-and-coming projects are running testnets and
incentivized testnets that will precede their debuts to mainnet
this year. A testnet, as explained by the post, are a widely use
tool for internet development. They let developers test upgrades,
products, and more before deploying on a mainnet. A test network or
testnet simulate that original environment to carry out such test
under similar conditions as if they were already deployed.
Developers and users benefit from testnets because it allows the
former to discover and fix bugs and issues, improve user
experience, and the latter to leverage a clean and battle tested
software. The Cosmos ecosystem holds over $100 billion in terms of
total value locked, testnets provide an additional layer of
development to guarantee its safety and optimal stability. The team
said: Over the years, Cosmos testnets have proven to be extensively
successful in many areas, such as uncovering issues with the
consensus engine, state machine, and even the operational setup of
validators. Top Projects To Watch On Cosmos For 2022 Amongst the
projects cited by the Cosmos team, there is Archway. This
incentivized smart contract platform will provide the ecosystem
with CosmWasm integration and enable direct developer reward into
the protocol. In that way, developers, users, and early investors
will receive a share of the rewards from launching a product.
Archway will launch “Augusta”, its first incentivized testnet in
March 2022. Users will have a chance at earning rewards during this
tesnet’s different stages. In addition, Archway will be accompanied
by Celestia, Cosmos’ first “modular blockchain network”. This
platform will allow developers to deploy their own virtual machines
without, according to the post, having to “bootstrapt their own
consensus network”. Thus, bringing new dApp possibilities into the
ecosystem. The project is currently on its devnet phase, but once
deployed it’ll let applications to maintain a high level of
sovereignty and security with a high degree of scalability.
Celestia’s public testnet is set to be rollout at some point in Q2,
2022. Moreover, the Cosmos will see the launch of Tgrade, the
“first regulated DeFi platform”, the protocol will operate with a
mix between Proof-of-Stake (PoS) and Proof-of-Engagement (PoE).
Unlike regular PoS project, Tgrade will reward all of its community
via its PoE mechanism. Related Reading | Terra (LUNA) Holders
Approve New Sports Sponsorship Deal Finally, this ecosystem will
see the rollout of Umee with an incentivized testnet for its
lending and borrowing platform. However, many more projects will be
introduced via tesnets and on the mainnet making this network one
to continue to watch on 2022 and beyond.
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