• The Internet of Blockchains – Cosmos – has been a standout performer boosted by its recent developments
• Cosmos already supports 28 chains. In 2022, Cosmos will integrate 200 chains in to its ecosystem.
• Cosmos is pleased to announce the highly anticipated Theta Upgrade. It will add interchain accounts as well as NFT modules into the ecosystem.
• This will allow users to leverage the value of staked assets elsewhere in the Cosmos network through liquidity staking.

Cosmos (ATOM), one of many projects that launched 2022 in the right direction, facilitates communication between different networks. This has made it one of most popular crypto projects just one week into the year.

Presented as “the internet of blockchains” to facilitate the development of an interconnected decentralized economy, Cosmos has seen explosive growth at the start of 2022. How has Cosmos performed in recent years?

Prices Updates

While the cryptocurrency market is struggling for gains, Cosmos has been steadily on an uptrend and closes in on its September record high. ATOM has seen a 9% increase in value over the past 24 hours. This is the highest-performing crypto among the 30 green.

Cosmos’ 24-hour price chart (ATOM). Source: Tradingview

ATOM has experienced a steady increase in value over the past 30 days. It is now worth approximately 90%. ATOM is currently trading at $40.220. With a market cap $1.908 billion, it ranks 25th in crypto.

Cosmos (ATOM) 30-day price graph Source: Tradingview

Latest Developments

Cosmos saw the most growth in cryptoverse 2022 and it’s for good reasons. Cosmos’ growth and ATOM price rise are largely due to the expansion of its ecosystem.

Cosmos, which announced its expansion to 28 interconnected and live blockchains on December 30th, also supports 262 Cosmos services and dApps.

The expansion brought the digital asset shared by Cosmos’ internet of blockchain to an estimated $68 billion. Cosmos hosts the likes of Osmosis and Secret, Crypto.com, Osmosis Network, Oasis Network and Kava.

Cosmos is an interoperable network but has been made power-efficient by being proof-of-stake. The annual report states that Cosmos’s power consumption in an average year is about half the amount of energy used by one day.

The launch of the Gravity bridge on December 15th is another important milestone for Cosmos. While the Gravity bridge is currently a standalone chain, it serves to link assets across Cosmos. In Q1, the project plans to move the bridge to its mainnet.

Future Events

One of the most anticipated events in the Cosmos ecosystem is the protocol’s upcoming Theta upgrade. It is set for March 31, and it has been a great deal of anticipation regarding the exciting new features that the upgrade will bring the network.

The Theta upgrade brings liquidity staking to network. This will allow users to use the value of staked assets within other parts of Cosmos ecosystem. In February 2022, the first version will come with liquidity staking.

The Another intriguing addition is the Function of interchain accountsThis feature will allow Cosmos users to control their accounts on multiple blockchains and not transfer tokens between chains.

The upgrade will include NFT modules. This allows for easy management of NFT credentials and owners as well as associated data. This upgrade will allow meta transactions to be conducted using the Cosmos ecosystem.

Cosmos’ grander vision includes Emeris being launched in the spring of 2022. Emeris will provide advanced capabilities in portfolio visualization, asset management and service discovery.

Cosmos is not yet available for release, but it plans to include staking and auto-compounding reward, cross-chain DEX accumulation, and an Emeris browser extension. Cosmos will be an ecosystem consisting of 200 chains by 2022.

Flipside

• Cosmos’ foray into the DeFi world may be faced with stiff competition

• Cosmos would have a difficult time breaking into the DeFi space with Terra, Terra and Ethereum.

The Community

Cosmonauts are the name given to members of this community. Cosmos has built a strong community thanks to community involvement and constant updates on the project’s progress.

Cosmonauts believe in this project, as it’s primarily built from the community. One Cosmonauts identified as, Jøhnnie, wrote;

If you take profits now or leverage trade, traders/speculators will regret it. You’ll be bitterly disappointed not to hold on to your $ATOM. You will never be able to get the $ATOM amount you currently have. Hold & stake if you want to make it. Also: Airdrops > profits.@cosmos pic.twitter.com/rA79nQ41C0

— Jøhnnie (@johnniecosmos) January 7, 2022

Mason Nystrom was a MessariCrypto researcher and wrote Cosmos.

.@cosmos Theta Upgrade (Scheduled for Mar 31, 2022) is going to be absolute Cosmos Theta Upgrade will *potentially* enable:1. Meta-transactions2. Modules NFT3. Interchain accounts4. Liquid staking5. CosmWASM instance available on the Hub6. Upgrades to Gravity Bridge pic.twitter.com/Te0mVdaDzC

— Mason Nystrom (@masonnystrom) January 4, 2022

Youssef amrani, a Twitter user (NYSE:), wrote about Cosmos

As I continue to research @cosmos, I become more impressed by the ecosystem’s quality. Thread

— Youssef Amrani (@youssef_amrani) January 6, 2022

Why you should care

It is easy to see how Cosmos has performed in an extremely bearish market, based on its developments and future plans. Cosmos may be the greatest, if perhaps the largest, surprise of the year, if they achieve all their goals in 2022.

EMAIL NEWSLETTER

You can also join the crypto-verse

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7]
It takes just 1 click to unsubscribe.

Continue reading on DailyCoin