Cosmos Adds Interoperability, Sending ATOM Higher

Cosmos has expanded interoperability with other blockchains, pushing the price of ATOM through a crucial resistance barrier.  
Cosmos Opens the Interoperable Era
In a nearly unanimous vote, ATOM token holders have enabled Cosmos’ Inter-Blockchain Communication (IBC) protocol. 
The new feature will allow the Cosmos blockchain to work in conjunction with other networks that have upgraded to the IBC standard. Essentially, it makes it possible for independent blockchains to transfer digital assets and data between one another.
According to Tendermint CEO Peng Zhong, the passing of Proposal 41 marks a momentous milestone in the evolution of the Cosmos ecosystem as it builds the foundation for interoperability. 
“The permissionless transfer of tokens value across chains is a historic moment on the timeline … We will continue to focus on building the Cosmos Hub as the heart of the interchain — enabling trade and connecting politically sovereign chains to create a new paradigm for economic exchange,” said Zhong.
The blockchains built on Cosmos’ native consensus model—including Kava, Agoric, Foam, and—will likely be the first to adopt the IBC standard, putting an end to network tribalism. This protocol’s flexibility and open nature might foster economic collaboration to build a robust ecosystem of networks. 
IBC token transfers are expected to bring a significant amount of visibility to the Cosmos Hub, and ATOM will likely benefit from it. 
ATOM Slices Through Resistance
ATOM, the native token of the Cosmos blockchain, rose by more than 7.60% upon the announcement that IBC will soon be activated.
The …
Story continues on Crypto Briefing

Related posts
ArbitrageBitcoin OptionsBTC priceCointelegraph.comMarketsParadigm

Do $100K–$300K Bitcoin call options signal a bullish BTC price path?

Derivatives exchanges now offer $100,000 to $300,000 Bitcoin call options but how keen are pro traders to take the bait? The open interest on Bitcoin (BTC) Dec. 31 call options between $100,000 and $300,000 reached an impressive 6,700 contracts, which…
ark investment managmentBitcoin PriceCathie Woodmarket capMarkets

ARK Invest CEO Cathie Wood On Bitcoin: "$1 Trillion Is Nothing"

During a recent panel discussion, Ark Investment’s Cathie Wood said that “$1 trillion is nothing compared to where [bitcoin] will ultimately be.”During a panel discussion hosted by the Chicago Board Options Exchange (CBOE) last week, CEO of investment management firm…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTMarketsNewsxbtusd

Why Whales’ Movements Have Yet to Fully Reflect on Bitcoin’s Price Action

It is valid to be confused by the pace at which Bitcoin’s price is accelerating, despite whale activities intensifying over the past months. While it’s commendable that Bitcoin’s price has doubled since entering the new year, concerns as to why…