Сosmos Works on a Cross-Chain DEX to Help Independent Blockchains Communicate
The Inter-Blockchain Communication (IBC) invented by Cosmos will help independent blockchains transfer the assets between each other without the need of converting them. To make it work, blockchains should be IBC-compatible.
They’ve been developing this feature for five years before governance voting gave it a green light. They plan to work with both fungible and non-fungible tokens and provide the connection with NFT-marketplaces.
The Inter-Blockchain standard is only a part of the developed ecosystem called Stargate. It includes new nodes that synchronize 200 times faster. However, its token, ATOM, is not doing that well. It lost 21% from its February’s ATH.