Cosmos’ ‘Cosmoverse Conference 2021’ begins in Lisbon

Cosmos, one of the most promising DeFi projects in the crypto space, saw widespread adoption in the year 2021. The native token of the platform, ATOM, rose by more than 2000% in a span of 52 weeks. To discuss the future potential and further plans for the token, the Cosmoverse Conference 2021 was held on Nov. 5th, 2021. 

In a recent tweet, the Cosmos Foundation revealed that the Conference would be hosted live for every community member in Lisbon, Portugal. 

“This event is 100% from the community to the community, and we are proud to have our Cosmos Hub Community Pool as the main sponsor!” the tweet said.

Zaki Manian, the co-founder of the DeFi project Sommel and former lead developer at Cosmos and Tendermint (Cosmos network’s core contributor), was responsible for kicking off the event, which will last for two days. He talked about a number of projects that Cosmos was working on. 

Cosmos blockchain set for an upgrade

The Cosmos blockchain is ready for an upgrade, as announced by Manian. A development titled ABCI ++ will enable the integration of consensus on other blockchains to the block production process, enhancing the efficiency of cross-blockchain bridges. This would make it easier for developers to access different blockchains from the native blockchain. 

Furthermore, the developers will be able to use the dynamic IBC (dIBC), which will further allow them to integrate governance proposals across multiple blockchains as compared to the limitations revolving around the IBC token transfers. 

Moreover, the users will be able to take advantage of liquidity staking. During this staking process, the users will receive a derivative of the ATOM token, which can be used in other DeFi applications. Another update involves the interchain accounts, which will enable developers to build multichain applications wherein DAOs or decentralized autonomous organizations on one chain can access the account and wallets on another blockchain. 

The co-founder of a decentralized exchange Osmosis, Sunny Aggarwal, further explained the process of liquid staking, which will enable users to earn more by simultaneously accessing multiple DeFi pools with the same underlying tokens. 

As previously reported by TheCoinRise, it seems that this year is the year of Decentralized Finance.