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The top 3 Cosmos projects to keep an eye on



 After the rise of Ethereum in the summer of 2020, layer 1 blockchains such as Solana, Terra, Avalanche, Fantom or Cosmos experienced an exponential growth phase. Both their network activity and their token prices went through the roof. Many investors have made fortunes. Much of this growth can be attributed to innovations in the Cosmos ecosystem.


What is Cosmos (ATOM)?

Cosmos enables the creation of customizable blockchains, all of which can communicate with each other via inter-blockchain communication (IBC). This enables near-instantaneous transfer of value and data between different blockchains, each designed for specific use cases. The big advantage of the Cosmos blockchain design is that such an ecosystem can be scaled almost infinitely and that all blockchains within this system can communicate with each other from the start. The most well-known blockchains of the Cosmos ecosystem include Terra (LUNA) and Crypto.com (CRO). For blockchain developers, Cosmos offers the ideal environment to design their own blockchains according to their individual ideas and at the same time opens the gates to a huge blockchain ecosystem.


Cosmos' modular blockchain design has a lot of potential and has spawned some mega blockchain projects in the past. In the following, therefore, three of the most promising Cosmos projects.


3. Secret (SCRT)

Market Cap: $806 million

Secret is a smart contract platform that, in the spirit of its namesake, enables the creation of privacy-oriented applications. These so-called Secret Apps can be created with “Secret Contracts” that are able to encrypt user data. The goal of Secret Network is to develop a variety of decentralized applications (dApps) that can be used completely anonymously. With its unique focus on privacy, Secret has the potential to play a valuable role as a privacy blockchain within the Cosmos ecosystem. Comparing Secret to already established projects, once fully operational, the project could be described as a combination of Monero and Ethereum.


So far, however, there are only limited applications on Secret.


For example, SecretSwap, Secret's largest decentralized exchange, only handles a volume of one to three million US dollars per day. In addition, there are just 39.67 million US dollars in Secret's smart contracts - for comparison: Uniswap has 7.41 billion US dollars.


2. Juno (JUNO)

JUNO Staking: 106 percent a year

Juno is a smart contract platform within the Cosmos ecosystem. Unlike many other Cosmos blockchains, Juno offers a particularly cost-effective environment for implementing smart contracts. Juno is also one of the few Cosmos blockchains to support the Rust programming language. Compared to Secret, Juno already has a slightly larger ecosystem of decentralized applications. It therefore already has several decentralized exchanges, an NFT marketplace and some other young DeFi applications.


Juno

Similar to many other Layer 1 blockchains, JUNO is stakeable and used to secure the network, pay for transactions, and control protocol upgrades.


1. Osmosis (OSMO)

OSMO Staking: 64 percent per year

Osmosis is a decentralized exchange (DEX) with over $1.66 billion in Total Value Locked (TVL) and over $100 million in daily trading volume. Comparing Osmosis to other DeFi protocols, it could be described as the Uniswap of the Cosmos ecosystem. However, this description alone would not do justice to the DEX, as osmosis is at the heart of all Cosmos-based blockchains. It is therefore not only possible to exchange all Cosmos tokens using Osmosis, but you can also move all your tokens between the different Cosmos blockchains using Osmosis.


Cosmos Osmosis DEX

In addition, OSMO can be staked just like SCRT or JUNO and can be used in governance votes. For example, OSMO owners can have a say in how high the DEX trading fees are or what percentage of the trading fees should be paid out directly to the OSMO stakers.


Conclusion:

While many of the Cosmos projects are still in the early stages of development, there are already numerous blockchains, protocols, and tokens worth keeping an eye on. Nevertheless, as an investor you should always be careful and not put too much money into experimental projects. On the other hand, it can of course also pay off to be one of the first supporters of a comparatively small blockchain project.

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