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Komodo’s AtomicDEX bridge will now join Cosmos to tons of of blockchains – Cryptospacey

Cryptospacey

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Komodo has Cosmos built into AtomicDEX to connect the Cosmos ecosystem to different blockchain networks. Komodo’s AtomicDEX is a cross-chain protocol, DEX and non-custodial pockets that help every UTXO and EVM based network.

The combination offers the Cosmos ecosystem a permissionless and secure solution to buy and sell with tons of blockchains, Bitcoin, Ethereum, Polygon, Avalanche and Optimism.

Komodo’s AtomicDEX leverages P2P interchain atomic swaps and removes the security threats associated with centralized liquidity pools, AMMs, and advanced smart contracts. Its current iteration supports 10,000 exchanges per minute and is ready to scale up if necessary. The AtomicDEX P2P community allows customers to carry every original ATOM token and its wrapped variants with them natively for cross-chain trading.

Kadan Stadelman, CTO of Komodo, noted that Cosmos has several of the most modern DeFi builders and tasks, all of which share the idea of ​​being multi-chain in the long run. However, despite its development, Cosmos was unable to offer its customers viable bridging options.

“When I tried to trade BTC on ATOM, the only option has been to use a centralized exchange, so it was a pure match and private has to expand interoperability between additional chains and Cosmos. AtomicDEX is compatible with 99% of existing cryptocurrencies and offers the industry’s widest cross-chain buying and sales assistance.”

As of July 2022, Cosmos had 0.82% of DeFi’s total value locked (TVL). The community hosts over 200 purpose-built native Cosmos apps and is growing all the time. While there are some bridging options built into Cosmos, they only help Ethereum and Cosmos-based blockchains.

Stadelman believes that there is a lot of room for development, and innovations are important for the development of Cosmos.

“We see Cosmos becoming a three-prime crypto mission, so we continue to monitor key metrics such as dApps, energetic clients/addresses, and energetic builder selection,” Kadelman said. “The power to launch sovereign and interconnected blockchains with Cosmos is important for expanding the entire crypto ecosystem.”

Posted by: Cosmos, Know-how

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