Crypto: Cardano (ADA) and Cosmos (ATOM) connect

A bridge between Cardano and another ecosystem has been expected for a while. It finally seems that the choice fell on Cosmos. This new bridge between Cosmos and Cardano should boost the adoption of the two cryptocurrencies, but it is not to everyone’s taste. Discover in this article, all the details of this connection between the Cosmos crypto and the Cardano blockchain.

New bridge between Cosmos and Cardano

What are the challenges of the Cosmos-Cardano connection?

The development of cryptocurrencies logically leads to changes. To remain competitive by offering better services, updates become an imperative. It is for this reason that we sometimes see connections between blockchains as is currently the case between Cosmos and Cardano. Indeed, a tweet from Cardano Daily revealed that there will soon be a bridge between Cardano and Cosmos. “Coincidentally, I mentioned in a tweet that Cardano needed a bridge to another ecosystem and Cosmos — a Sifchain-backed Cardano bridge — was released right after,” Cardano Daily tweeted.

Logically, this collaboration is welcome, because the two have many points in common. On the one hand, the same ambitions in terms of research and development, accessibility and community applications. On the other hand, the objective is to improve the interoperability between the two networks.

With the EVM compatible layer (Ethereum Virtual Machine), this cross-chain bridge technology will enable the seminal bridge deployment between Cosmos and Cardano. Both projects want to open up new cross-channel opportunities to boost their appeal. The Cosmos-Cardano bridge is in development right now. It will be powered by Peggy 2.0 and Sifchaina DEX omni-chain on Cosmos which allows exchange, staking and bridges Ethereum and Cosmos.

What will Cosmos bring to Cardano?

The Cosmos team defines its cryptocurrency as an “internet of Blockchains”. The Peggy 2.0 bridge it brings to this alliance will provide unprecedented access to decentralized governance protocols for growth and new liquidity. Cardano should therefore see its number of users and transactions increase rapidly.

Cosmos is built on interoperability, coupling with Cardano’s EVM-enabled layers. It will give access to an ecosystem of chains, DApps, assets and utilities to developers and users. All in an independent and very decentralized way. In addition, Cosmos brings Cardano an essential plus: security. With the hacking of Nomad Bridge, safety is now a priority for both projects.

The Cosmos ecosystem records some impressive numbers, including: $4.2 billion in staked crypto assets. We can also state its $200 million in cross-chain transactions per month. And finally, it has a 40 channels and thousands of DApps. Following the announcement of the future bridge between Cardano and Cosmos, Cexplorer announced a 95% jump in the Cardano network. However, despite its impressive potential, some members of the Cardano community remain skeptical.

Conclusion

For some, the timing is not good. They think that the two blockchains are too recent to think about interoperability. The priority should be on security, governance and scalability. Bridges like the ones Cosmos and Cardano want to build are a prime target for hackers. They will not hesitate to try to infiltrate wallets and rob users. We still have the Ronin hack in mind. This has allowed hackers to take away more than 550 million dollars in ether and USDC.

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