Crypto ATOM Takes off as Cosmos Welcomes Major Network Upgrade

  • Rho upgrade paves the way for Replicated Security, another Cosmos update expected this year.
  • The network is also introducing interoperability for non-fungible tokens. 

Cosmos hub, the proof of stake interoperability network, launched a significant upgrade on February 16 at block height 14099412, causing a surge in its native ATOM token by 7% to trade at $14 Thursday.

Rho comes ahead of the Replicated Security release, another upgrade in the Cosmos network set to happen in the year’s first quarter. According to the developers, some of the new system’s benefits include an enhancement to the testing infrastructure and the introduction of a global fee software module that allows for the distribution of transaction fees in the hub.

New update targets network security and more interoperability

The Rho upgrade aims to improve Cosmos’ network security by reducing the chances that validators could collude and compromise the platform. It lays the foundation for the Interchain Security update for release in the first quarter of 2023, per the announcement.

Interchain Security allows the more than 200 blockchains in the Cosmos ecosystem to benefit from the Security of the validators that run the underlying Cosmos hub. Initially, new projects launching on the Cosmos network required finding their validators. One of the shortcomings is the lower total value locked in the smaller networks than that of the Cosmos hub.

Cosmos is a network of independent blockchains connected through the Inter-Blockchain Communication protocol (IBC). The network aims to be a decentralized protocol of proof of stake networks that are interoperable, scalable and secured with the Byzantine Fault-Tolerant consensus.

Cosmos is also working on IBC interoperability for non-fungible tokens with the ICS-721 update, a publicly incentivized testnet in the Cosmos hub, which opened registrations on February 15. The testnet allows users to test interchain NFTs across IBC-enabled networks like Juno and OmniFlix.

“The interchain NFT module for IBC brings the connectivity and interoperability already enjoyed by fungible tokens to NFTs, creating all new surface areas for developers and artists to unleash their creativity,” Cosmos wrote in a blog post.

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