Komodo’s AtomicDEX bridge will now join Cosmos to a whole lot of blockchains

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Komodo has built-in Cosmos on AtomicDEX to attach the Cosmos ecosystem to different blockchain networks. Komodo’s AtomicDEX is a cross-chain protocol, DEX, and non-custodial pockets that helps each UTXO and EVM-based networks.

The combination will present the Cosmos ecosystem with a permissionless and safe answer for buying and selling with a whole lot of blockchains, together with Bitcoin, Ethereum, Polygon, Avalanche, and Optimism.

Komodo’s AtomicDEX makes use of P2P cross-chain atomic swaps, eradicating the safety threats related to centralized liquidity swimming pools, AMMs, and sophisticated good contracts. Its present iteration helps 10,000 swaps per minute and is ready to scale upwards if essential. The AtomicDEX P2P community allows customers to carry each the native ATOM token and its wrapped variations to commerce natively cross-chain.

Kadan Stadelman, the CTO of Komodo, stated that Cosmos has a number of the most modern DeFi builders and initiatives, all of whom share the assumption that the longer term is multi-chain. Nonetheless, regardless of its development, Cosmos failed to offer its customers with viable bridging options.

“Whereas I used to be attempting to commerce BTC for ATOM, the one choices had been to make use of centralized exchanges, so it was a pure match and private have to increase interoperability between extra chains and Cosmos. AtomicDEX is appropriate with 99% of cryptocurrencies in existence and gives the widest cross-chain, cross-protocol buying and selling assist within the business.”

As of July 2022, Cosmos held 0.82% of the entire worth locked (TVL) in DeFi. The community hosts over 200 purpose-built Cosmos native dApps and is rising frequently. Whereas there are some bridging options constructed on Cosmos, they solely assist Ethereum and Cosmos-based blockchains.

Stadelman believes there may be a lot room to develop, with innovation being the important thing to Cosmos’ development.

“We see Cosmos turning into a high three crypto challenge, so we are going to proceed to look at key metrics such because the variety of dApps, energetic customers/addresses, and energetic builders,” Kadelman stated. “The power to launch sovereign and interconnected blockchains with Cosmos is crucial to the expansion of the entire crypto ecosystem.”

Posted In: Cosmos, Know-how

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