The Cosmos ecosystem is teeming with life

The Cosmos ecosystem is teeming with life

The Cosmos ecosystem is teeming with life

“The Cosmos is teeming with life” - so says Cosmos community member @Thyborg_ who regularly updates a curated list of active projects that are building on the Cosmos blockchain.

We’ve decided to review some of the leading projects among those 75 listed, to get a sense of what is being built within the Cosmos ecosystem.

Here is just a sample of some of the projects built on Cosmos, listed by category.


Smart contracts

Fetch.ai : This smart contract platform uses AI to provide for digital twins that interact and trade autonomously in the digital space on behalf of the user. A Digital Twin is a digital version of a real world person, business or item. Combined with blockchain and machine learning, a digital twin can be used to predict performance, run simulations and optimize processes, leading to improved decision making.

Cronos: Cronos is the first Ethereum Virtual Machine (EVM)-compatible blockchain built on Cosmos. EVM compatibility means that the platform provides developers with the ability to easily migrate smart contracts originally built on the Ethereum blockchain (or contracts built on other blockchains that are EVM compatible). Projects that choose to build on Cronos can leverage funding grants of up to $1 million per project.

Chronic Chain : Chronic Chain told Exodus News & Insights that it plans to be “an interchain compatible smart contract platform for empowering cannabis culture”. The original intention was to build on Ethereum but it switched to Cosmos in an effort to establish the project on a foundation that is “flexible, scalable, immutable and interoperable”.


DeFi

Thorchain: A decentralized liquidity protocol that helps users to swap assets in a permissionless environment, Thorchain has been built on top of the Cosmos SDK. Its ability to swap assets does away with the need to use cross chain bridges - which are prone to hacking. In facilitating native swaps, it also does away with the need for pegged or wrapped assets.

In March 2022, the trading of synthetic assets went live, adding another string to Thorchain’s bow.

Umee: A DeFi platform that allows the inter-connection of crypto markets across networks. It facilitates multi-chain staking and cross chain interest rates. In June 2022, we reported on Umee’s plans to bring MakerDAOs DAI stablecoin to the Cosmos ecosystem.

The borrowing and lending platform announced plans to launch the first price oracle service for Cosmos’ inter-blockchain communication protocol (IBC) in June 2022. IBC  allows independent blockchains to communicate directly and trade assets.


Gaming

Passage3d: The passage chain provides a customizable 3D world for video chat and gaming, with a focus on NFTs. Strange Clan is the first NFT gaming project built on Cosmos via Passage3d. The passage chain has specialized in providing a platform for these gaming worlds - of which Strange Clan is the first to emerge.

Passage3d on Cosmos IMG Source


Social

BitSong: Styling itself as “a new chain of sound”, BitSong plans to decentralize the music industry in order to create a transparent and intermediary-free earning model for artists. Meanwhile, users are being offered a new way to listen to music and be rewarded through tokens at the same time.

The platform allows users to buy and sell NFTs, mint and trade fan tokens and access exclusive content. Meanwhile, artists can avail of royalty payments in real time.

Decentr: Decentr is an internet browser that empowers users by making them owners of their data. Unlike the Brave browser which uses a centralized wallet, Decentr is Web3 native with its own in-built wallet. Users can also benefit from AdBlock and VPN functionality which are incorporated within the application.


Decentralized exchange (DEX)

Osmosis: As the largest DEX and automated market maker (AMM) in the Cosmos ecosystem, as of August 2022 Osmosis achieved $13.4 million in daily trading volume with $167 million in Total Value Locked (TVL) in the protocol. Curiously the Osmosis team refuses to have its OSMO token listed on centralized exchanges, preferring instead that users go to the Osmosis DEX to buy or sell OSMO.

As has happened with so many projects in crypto, Osmosis did experience a temporary setback in June 2022 when the chain was halted to address a critical exploit which it subsequently recovered from.


Internet of Things (IoT)

Althea Network: Althea is a decentralized internet service provider harnessing blockchain to incentivize the build out of community-run mesh networks. Althea’s home-installed consumer routers trade tokens between them based on the level of usage. Rural areas where current coverage is poor and users have fewer options are being targeted by the service.

Althea is transitioning from using DAI on the Ethereum platform to a dedicated blockchain built on Cosmos, which is expected to launch in Q4, 2022. Deborah Simpier, Co-founder and CEO of Althea told Exodus News & Insights that “Althea is quickly outgrowing its current use of xdai (last year we were over 71% of the transactional volume) and need a sovereign blockchain which fits the needs of telco, not financial transactions”.

Althea built and supported the Gravity Bridge ( a decentralized evm<>Cosmos bridge) which is the most widely adopted bridge in Cosmos.


How to buy Cosmos

These examples just provide a taste of the innovation that is emerging on the Cosmos Blockchain. Development on Cosmos may still be at an embryonic stage but it is showing all the signs of advancing towards an established ecosystem of innovation

You can buy Cosmos (ATOM) and other cryptocurrencies in Exodus, in any way you prefer:

This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

Get insider crypto knowledge and product updates from the world’s leading crypto wallet
Sign me up