Cosmos and Its Vision of Inter-Blockchain Communication in 2022

Challenges Faced by Cosmos in 2022

The year 2022 brought significant challenges to Cosmos, particularly in its pursuit of inter-blockchain communication (IBC). The collapse of the Terra Luna ecosystem, once the largest protocol on Cosmos, posed a substantial setback. This event, coupled with internal tensions between co-founders and a decline in the token's price, cast doubts on the future of Cosmos and its IBC vision.

Resilience Through Key Projects

Despite these hurdles, Cosmos continues to be a robust platform for projects committed to its IBC vision. Notable among these are dYdX and Seda, a cross-chain oracle protocol. These projects remain steadfast in leveraging the unique capabilities of Cosmos, highlighting the network's ongoing relevance in blockchain developments.

The Role of Seda in Cross-Chain Communication

Seda, formerly known as Flux, plays a crucial role in enhancing cross-chain communication. It currently supports over 12 million data feeds across 24 networks, underscoring its significance in the ecosystem. The protocol's co-founders emphasize the importance of oracles in cross-chain bridges, which are instrumental in safeguarding the value these networks aim to create.

The Future of Cosmos

While 2022 was filled with obstacles, the dedication of projects like Seda and dYdX to Cosmos's IBC vision illustrates the network's potential for recovery and growth. As these projects continue to innovate and expand, they contribute to the resilience and advancement of Cosmos in the blockchain landscape.

By focusing on overcoming past challenges and leveraging its strengths, Cosmos aims to solidify its position as a leading platform for inter-blockchain communication.