Cosmos has a grand plan for 2024: Will it crush Ethereum? cryptoforbs

Cosmos, a blockchain where developers can create custom chains that interconnect and communicate, has revealed its roadmap for 2024. mail On September 25, the roadmap focuses on increasing modularity, improving the developer experience, addressing “technical debt,” and increasing user adoption. With this, Cosmos developers are planning to take over the most established platform, Ethereum.

At the heart of Cosmos are features like Tendermint, a consensus system that validates blockchains like the BNB chain; Cosmos SDK, a software development kit that allows programmers to build custom and flexible blockchains; and Inter-Blockchain Communication (IBC), where all published custom Cosmos chains can connect and communicate, effectively enhancing interoperability.

Cosmos wants to pay off technical debt and make its SDK more modular

In 2024, reading from the roadmap, Cosmos aims to strengthen its position by attracting developers from competing platforms while paying down “technical debt.” In application development, technical debt results in additional work and can be caused by resource constraints and changing code requirements.

Therefore, to address these challenges, the work already done on the Cosmos SDK will continue until 2024. After that, the goal will be to make the suite more modular at its core. This will make it more adaptable and flexible, meeting developers’ requirements.

Ethereum is still king

It is not yet clear whether this will be achievable in 2024 and whether Cosmos will grow to be as dominant as Ethereum. Ethereum is currently the leading smart contract platform, based on its market capitalization and total value locked (TVL) in decentralized finance (DeFi). Additionally, its layer 2 ecosystem is growing, with more protocols and blockchains connecting to Ethereum to leverage the network’s leading activity.

DeFiLlama Data On September 29 it appears that all top 10 bridges are connected to Ethereum. To clarify, Stargate – by Cosmos, is connected to Ethereum and several blockchains, including Avalanche and BNB Chain.

Besides Stargate, the other bridges are compatible with the Ethereum Virtual Machine (EVM) and mostly connect to the Ethereum-2s layer and Polygon, the sidechain. For example, zkSync Era, Base, Arbitrum, Polygon, and Optimism Gateway are connected to Ethereum. Cumulatively, these bridges move millions of dollars worth of tokens to and from Ethereum in any instance.