Cross-chain bridge technology would serve as seminal bridge deployment between Cosmos and Cardano
cosmos-cardano bridgePowered by Peggy 2.0 and Syfchain, an omni-chain DEX on Cosmos that allows swapping, staking and bridging between Ethereum and Cosmos is currently in development.
The cross-chain bridge technology will serve as the seminal bridge deployment between Cosmos and Cardano (via its EVM-compatible layer), and it hopes to unlock new cross-chain opportunities between these two ecosystems. Cosmos is often dubbed the ”internet of blockchains,” hence the move for its interoperability with Cardano.
As it stands, it seems as though “security” will be at the forefront of the project’s mission following the recent Nomad Bridge hack.
Cardano’s network usage spikes
According to Cexplorer, network usage for Cardano spiked by as much as 95% on Aug. 3, following the utilization of its blockchain capacity. This may be due to several addresses interacting with the network following recent events in the crypto space, such as the latest Solana multi-million wallet hack.
Cardano has faced significant criticism in the past, most of which stemmed from its comparisons to the Ghost chain. However, Cardano continues to post ghost chain-rejecting numbers.
In a bid to increase transaction throughput, IOHK has increased the block-size limit twice this year to enable more transactions per block. The block size increased from 64KB to 80KB, and then further to the present 88KB. Larger block sizes might mean that more transactions can fit into a block, thus increasing user capacity.
According to data from Cardano Blockchain Insights, the number of Plutus scripts on Cardano has crossed the 3,000 mark.
