Atom Cosmos: Cross-Chain DEX Rise
Good morning Lions I trust you are safe and well riding out the current market down turn which hasn't been to bad overall and slight market gains.
3Speak Stats were out a few days ago and I ranked top 5 content creators and my Tik Tok is also starting to pick up which is a great thing for Hive Blockchain with more viewers seeing the brand.
I've popped together a quick Vlog in regards to Atom and it's Cosmos eco system and IBC protocol.
But building on more questions from yesterays Blog How Big is the Cosmos we had some questions about what is unique about Inter-Blockchain Connection.
In short it takes things to a whole new level never before seen, as we covered in the previous blogs any chain is able to participate in cross chain through installing the IBC protocol. There are some discussions around double spends which Atom has developed Hubs so every transaction needs to go through a hub prior to going to the new Network to ensure double spending of tokens doesn't occur.
But beyond just swapping tokens from one chain to the next there is a real benefit of cross chain Decentralised Exchanges (DEX) which are set to make a lot more money than previous protocols.
Osmosis still remains one of my top cross chain DEX but now we are starting to see more come online with the clone of Pancake Swap launching called Burger Swap. Although I am not too sure how well it will go into the future but it should still gain some traction being built on Binance Smart Chain which has a significant amount of clients utilising the chain on a daily basis.
I'm excited to see what else comes to fruitition with cross chain development. What are some of your use cases you think it solves?
Image Sources: Hive Cosmos
This is not financial advice and readers are advised to undertake their own research
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