Interconnected Blockchains Grow and Create New Pathways

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Interconnected Blockchains Are the Future of the Decentralized Web.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.

CryptoMode Cosmos Zones IBC Transfers

It is fascinating to see how interconnected blockchains can quickly change the landscape. Various projects use Cosmos’ IBC solution to create pathways to other ventures. The following four projects have the highest IBC transfers for the past month, but competition keeps heating up.

Osmosis 

The Osmosis project introduced a decentralized P2P blockchain to create liquidity and trade IBC-enabled tokens. It is crucial to connect Osmosis to as many other blockchains within the IBC sphere as possible. It has the highest number of IBC transfers in the past month – 3.63 million – nearly half of its overall transactions. Moreover, Osmosis has almost 259,000 monthly active addresses, confirming more people explore what this blockchain offers.

Cosmos

One would think Cosmos has more IBC transfers than any other blockchain on this list, but that isn’t the case. Even so, its IBC transfers stand at over 1.3 million this month, which is still impressive. More importantly, that number represents more than 75% of all Cosmos transactions this past month, highlighting the importance of the IBC technology. Its MAU sits at 174,490, hinting at room for future growth.

Juno

Juno is the cross-chain smart contract zone of the Inter-Blockchain Communication protocol. Developers can create and use interoperable applications on Juno through a decentralized, public, and permission-less network. With well over 915,000 monthly IBC transfers, Juno has climbed the overall rankings rather quickly. Moreover, its MAU of 83,368 is more than sufficient to confirm interest in cross-chain smart contract execution.

Terra

While Terra has a native ecosystem, it also leverages Cosmos’ technology. By extension, that includes IBC to forge connections to other zones using the same technology. Terra has over half a million IBC transfers this month and nearly 16 million TXs in total. Additionally, it notes just under 174,000 monthly active addresses, which is rather impressive. It will be interesting to see if Terra can claim a top-three spot for IBC transfers in the coming months.

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JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

 

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