Cosmos competes with Ethereum: What is the outlook for 2024?

The crypto ecosystem is evolving and Cosmos does not want to stay behind. As large blockchains like Ethereum gain more and more power, the interoperable blockchain network believes it has found the solution that will allow it to rise to its level. Discover the objectives of the roadmap that should change everything.

Cosmos, towards another stage of its evolution!

Despite the uncertainty that still reigns in the crypto sector, blockchains are constantly looking for ways to become the best. In this momentum, Cosmos, whose native crypto ATOM is preparing to rebound, reveals its objectives for 2024.

In the document of 50 pages published by the Interchain Foundation, the internet of blockchains has listed its priorities for next year and these are not trivial. Indeed, it places particular emphasis on interoperability. To consolidate its position, Cosmos plans to attract developers from competing platforms while it repays its technical debt.

Since the latter entails additional work, increasing the number of developers will allow it to be reimbursed optimally. But that’s not the only advantage! A broader developer base will make the software development kit (SDK) more modular.

Remember that the SDK is only modular in theory, since the theory is a completely different matter. As a result, the work already done will continue until 2024 to make Cosmos more adoptable and flexible. But also, to better compete with Ethereum.

Ethereum, the indomitable giant of the crypto sector?

Two digital assets dominate the crypto market but in terms of network, Ethereum stands as the obstacle to overcome to reach the top. The goal of Cosmos’ roadmap is to surpass Vitalik Buterin’s blockchain by next year.

However, this might be more difficult than you think. Not only is Ethereum the leading smart contracts platform, but its layer 2 ecosystem has also grown. Thus, more and more blockchains and protocols are connecting to the network to benefit from its pioneering activity.

However, the solution appears to be within reach. According to statements by Maria Gomez, the general director of the Interchain Foundation, Ethereum is also evolving well thanks to its roadmap. So she hopes for better adoption with the 2024 roadmap.

In the meantime, even though Cosmos is still far from reaching the level of Ethereum, there is an increase in developer activity compared to July and August. In September, Cosmos Hub, the foundational blockchain of Cosmos, saw 660 changes to its code. Thus, the ATOM crypto network has not yet said its last word.

Receive a summary of the news in the world of cryptocurrencies by subscribing to our new service newsletter daily and weekly so you don’t miss anything of the essentials!

Similar Posts