$ 23,342
$ 1,720.1
$ 61.90

Cosmos (ATOM) Set for Stargate Inter Blockchain Communication (IBC) Upgrade

Cosmos (ATOM) has announced that its Stargate upgrade will go live on February 18, 2021, at exactly 6:00 UTC. The team says the much-anticipated Stargate upgrade will take the project a step closer to launching its inter-blockchain communication (IBC) protocol which will bring interoperability to all Tendermint-powered blockchains.

Cosmos (ATOM) Upgrades Network 

Cosmos (ATOM), a decentralized network of independent parallel blockchains powered by Tendermint’s Byzantine Fault-Tolerance (BFT) consensus algorithm, is set to roll out its Stargate upgrade today, to take the network a step closer towards its mission of becoming the ultimate interoperable and scalable blockchain network.

Specifically, the team has hinted that the Stargate upgrade will set the stage for the launching of Cosmos’ inter-blockchain communication (IBC) protocol, which will, in turn, make it possible for all the independent blockchain networks in the Cosmos ecosystem to be interoperable.

What’s more, the team has made it clear that in addition to laying the foundation for IBC, the Stargate upgrade will make Cosmos more efficient, make upgrades faster, while also enabling full node on the network to sync up more quickly.

Commenting on the upgrade, Zaki Manian, founder of Iqlusion, a proof-of-stake (PoS) validator company in the Cosmos ecosystem hinted that the team will need to take a look at a particular governance proposal after a successful Stargate launch, before finally launching the IBC protocol. In essence it could take another two weeks before IBC goes live.

A Steady Progress 

Launched in 2019, Cosmos has been making significant progress in its journey towards becoming an internet of blockchains. Presently, there are more than 200 projects in the Cosmos ecosystem, including decentralized applications, wallets, blockchains and more.

Also commenting on the Stargate roll out, Brian Kerr, CEO of Kava (KAVA), a multi-chain decentralized finance (DeFi) lending platform, that’s part of the Cosmos ecosystem, reiterated that his team will need to carry out extensive testing of the IBC to ensure it operates smoothly with the Kava platform before integrating it.

In his words:

“Before the adoption of IBC can happen, we need to do a robust set of internal testing and review to ensure it interacts with the Kava blockchain as intended. Once this is done, Kava is excited to integrate IBC.”

At press time, Cosmos’ native crypto, ATOM, is up by 49.69 percent in the weekly timeframe, trading at $24.07, with a market capitalization of $5.06 billion.

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