Crypto space is dynamic and ever-evolving. Heard of Cosmos? No. Well, Cosmos is a decentralized network of parallel blockchains where the primary blockchain is called Cosmos Hub. While the Hub resides at the center and records all activities, there are multiple blockchains attached to it known as “Zones”.
DeFi applications can be built and deployed on the Cosmos network. What makes Cosmos stand out is that it offers interoperability with other blockchains that use a common protocol. The primary objective of Cosmos is to tackle the issue faced by other popular networks - scalability.
In this article, we delve into some of the important Cosmos projects that you must follow in 2023.
Let’s get started.
With the crypto frenzy on, more people are shifting to their traditional financial institutions, asking them to make crypto services available. This introduces the concept of the intersection of Decentralized Finance (DeFi) with Traditional Finance (TradFi). One such initiative is from the cosmos project, Rebus. It is a decentralized investment platform with its native coin $REBUS, that lets asset managers sell and manage DeFi along with TradFi instruments.
While Rebus will be launching its first DeFi products, the platform is available for third parties, who are their partners, to build on the Rebus Chain. Rebus provides the autonomy to the partners to vet each and every investment instrument before they showcase it to their customers. This offers dual benefits. First, investors don’t need to diversify into a new digital asset category. Second, investors can rely on the advice of financial advisors and, therefore, will be protected from any fraudulent activity.
Juno, a cosmos project, serves as an interoperable incubator and is a decentralized, public, permissionless network for cross-chain smart contracts. The ecosystem offers over 50+ Dapps, smart contracts and tools, and 2000+ DAOs supporting various functionalities. Some of these include Decentralized Finance which provides lending/borrowing, derivatives and staking, gaming, and gamification on metaverses, non-fungible tokens offering marketplaces, inter-NFT applications, and more.
Juno paves the way for ensuring rapid development and iteration, which helps engage with the active communities within the interchain. It is supported by incubation tools that projects can use, providing them with all benefits of native L1 without worrying about independent app-chain security. The key initiatives of the Juno ecosystem include mesh security, governance enhancement, and a technical roadmap.
Mesh security focuses on making Juno more secure, letting users stake Juno to earn other tokens within the interchain. Governance defines the ways to protect the Juno constitution outlining the powers, responsibilities, limitations, and obligations.
Regen network is an initiative to invest in high-valued carbon and biodiversity credits from ecological regeneration projects. Stressing the importance of reducing carbon footprints, Regen offers a marketplace where corporates can buy and trade digital carbon credits to meet their climate-oriented initiatives. These nature-centric services help restore biodiversity and remove carbon.
Regen marketplace serves as an interface between project developers and buyers by allowing the developers to sell their ecological credits to buyers worldwide. There are multiple reasons to invest in the Regen network.
First, it is community-oriented and brings together several scientists, project developers, and climate researchers. Second, Regen helps with carbon credit tokens that let mint and transfer ecological assets using Regen Registry and Regen Marketplace. Finally, it offers a blockchain-enabled toolkit to govern modern ecological credit standards.
Sentinel ecosystem offers a global network of decentralized Virtual Private Network (VPN) applications that provide secure and censorship-resistant internet access. Some examples of dVPN built on the Sentinele cosystem are Solar Labs and Meile.
SOLAR dVPN allows you to use your desktop and mobile apps to reach thousands of community servers worldwide and use them as a secure gateway to access the internet. Meile is yet another dVPN application residing on top of Sentinel and uses blockchain-based technology together with decentralized nodes to create the option of a safe and private internet for all.
Osmosis, built on Cosmos, is an automated market maker (AMM) which supports cross-chin transactions through Inter-Blockchain Communication (IBC) which provides an extra layer of interoperability. In comparison to several other AMMs, Osmosis is highly customizable and lets developers build amazing and unique AMMs that are capable of accomplishing varied goals.
It lets developers design and develop AMMs that can adapt to changing market conditions and offer liberty to the market players to decide which options to choose instead of relying solely on the protocol.
Cosmos is a blockchain with immense potential and holds great opportunities for the future. Some of the key Cosmos projects to watch out for in 2023 are covered here. However, this is not the complete list, and with the capabilities of Cosmos, there are many more projects with divers equalities to come in the future.