Cosmos (ATOM) surges 30% in past week on ‘Stargate’ launch – CryptoSlate

Cosmos, the high-speed interoperability platform, launched its much-awaited upgrade today. Here’s what it means.

Stargate is here

The much-awaited inter-blockchain communication (IBC) protocol launched on Cosmos today, as per an official tweet. Prices of ATOM, the project’s native token, bumped to over $24 in anticipation.

“Stargate,” as it is dubbed, contains a set of upgrades and a toolkit for developers that complete the original roadmap laid out in the Cosmos Whitepaper. Following the launch, various Cosmos blockchains will be able to “connect” with each other using the first standardized protocol for inter-blockchain communication (IBC).

“It gives birth to the Internet of Blockchains and the start of a new paradigm in the cryptospace. The upgrade comes with many great features, with the main one being Inter-Blockchain communication, which enables blockchains to talk to each other,” explained the project in a post.

Such upgrades bring significant performance improvements to blockchains built with Cosmos SDK. These include bringing so-touted 100x efficiency to the IBC protocol, a faster full node syncing process, and over 20 times faster upgrades on the mainnet.

The Cosmos surge

As per a post, Cosmos SDK-based blockchains can incorporate the Inter-Blockchain Communication (IBC) Protocol to communicate with other compatible blockchains. The Cosmos Hub is the first blockchain to support IBC in production.

In addition, for blockchains that built on top of Tendermint Core, the