Launched in 2021, Osmosis (OSMO) is a decentralized blockchain dedicated to the Cosmos ecosystem (ATOM) and its tokens. It has recently added the features of the Axelar interblock communication protocol and the Moonbeam network to its ecosystem. With this addition, Osmosis increases its ability to process transactions across different blockchains.
Osmosis (OSMO) powers Polkadot (DOT) and Ethereum (ETH)
Osmosis (OSMO) has made further changes to its ecosystem by partnering with blockchain interop startup Axelar and the Moonbeam network.. With these changes, the Osmosis Decentralized Ecosystem (OSMO) is expanding its services to the Polkadot (DOT) blockchain and Ethereum (ETH) network-based tokens. And now the Cosmos, Polkadot and Ethereum blockchains can communicate with each other through osmosis.
Osmosis Labs co-founder Sunny Aggarwal said his company wants offer the best DEX (decentralized exchange) for the entire crypto ecosystem and the cross-chain world becomes reality. Our plan is to continue connecting all possible ecosystems, ”she stressed.
Separately, Aggarwal said he doesn’t consider competitors Polkadot and Cosmos, although many people think so. According to the co-founder of Osmosis Labs, the two networks simply provide different frameworks for developing decentralized finance (DeFi) applications. He added that Polkadot is a large network with many interesting resources.
Aggarwal also talked about how Akselar’s UX was what his company was looking for while developing the Osmosis ecosystem. He explained that this UX is much more cohesive than many others. According to him, the Axelar platform offers better connectivity and is more secure.
Recent changes to the osmosis ecosystem (OSMO) have improved its performance. The network can now act as a communication bridge between the Cosmos, Polkadot and Ethereum blockchains. Additionally, developers can use the Osmosis ecosystem to power their decentralized finance (DeFi) applications.
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