Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Polygon and Cosmos blockchains to be connected by Union Labs, MATIC, ATOM react positively

Source Fxstreet

Polygon and Cosmos blockchain ecosystems will be connected by a layer, Union Labs.
Union Labs will connect Polygon’s AggLayer with Cosmos ecosystem’s Inter-Blockchain Communication Protocol.
MATIC and COSMOS price added nearly 2% gains on Thursday.

Polygon blockchain’s aggregation layer (AggLayer) and Cosmos’s Inter Blockchain Communication (IBC) will be connected via Union Lab’s proposed solution. The modular interoperability layer is expected to ensure a smooth flow of liquidity between the two large blockchain ecosystems.

Union Layer could connect Polygon and Cosmos in this manner

DeFi users and traders using Layer 2 scaling solutions could benefit from a greater access to liquidity and movement between projects like Polygon and Cosmos.

Union Labs plans to power one such integration through a modular interoperability layer. The solution will ensure a smooth flow of liquidity between the two chains and maintain a unified architecture. It will offer a simple user experience (UX) for traders.

Polygon’s AggLayer is a bridge that unifies liquidity across projects and Cosmos’ IBC handles the authentication and movement of data between blockchains. Connecting the two chains is set to unlock a useful solution for web3 users and unlock greater freedom and flexibility in the ecosystem.

In a real-world use case, traders use AggLayer to buy NFTs or swap tokens in an easy manner, without additional steps of connecting to bridges and IBC allows traders to improve their trading strategies across various blockchains, ensuring smooth communication between different chains.

Marc Boiron, CEO of Polygon Labs, told FXStreet, “Union’s integration into the AggLayer is a significant milestone for both the Polygon and Cosmos ecosystems leveraging the AggLayer’s unique architecture to unlock modular and monolithic benefits for both ecosystems. It streamlines liquidity flow for current projects and users while catalyzing innovation.”

MATIC and COSMOS prices surged nearly 2% in the past day.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold posts first weekly gain in three weeks — can $4,200 hold through CPI?Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

Author Irene Q.

16 hours ago

Spot gold closed at $4,194.645, up 1.47% — its first weekly gain in three weeks — and COMEX futures settled back above $4,200 at $4,220.30. Here are the drivers, the levels and the scenarios into Wednesday's CPI.

US September CPI preview: inflation set to hit 3.7% — will the Fed hike in December?US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Author Irene Q.

18 hours ago

US September CPI lands Wednesday with headline inflation seen at 3.7% y/y and core at 0.2% m/m. December hike odds sit near 70% — here are the scenarios, the calendar and the key levels.

Gold Price Forecast: Gold Rebounds Above $4,200, Can Falling Oil Prices Drive Another Rally?As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra

Author TradingKey

Yesterday 09: 23

As of Friday (October 9), gold prices (XAUUSD) rebounded noticeably after consecutive declines. During today's Asian session, gold prices briefly rebounded above $4,200, reaching an intra

Hurricane Isaias has shut in a quarter of Gulf oil output — can WTI clear $92 before Thursday's EIA report?WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

Author Irene Q.

Yesterday 06: 38

WTI trades at $90.80 after rebounding roughly 3% from Wednesday's $87.96 low as Hurricane Isaias — the Atlantic season's first — forces producers to shut in about 25% of US Gulf of Mexico output. Brent holds at $103.41. The first official read on the disruption arrives with the EIA weekly petroleum report on Thursday 15 October — here are the key levels and both scenarios.

【Daily Brief】Gold rebounds 1% off a two-month low, Nasdaq drops 1.25% and yields ease — the storm premium keeps WTI near $91 Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.

Author Irene Q.

Yesterday 06: 28

Gold trades at $4,174 after rebounding from Wednesday's $4,090 two-month low, the Nasdaq fell 1.25% while the Dow edged higher, and the 10-year Treasury eased to 5.23% from the week's highs. Hurricane Isaias keeps about 25% of Gulf output shut in with WTI near $91, and bitcoin holds below $82,000. The next scheduled tests are the EIA report on 15 October and the FOMC on 27-28 October.

Popular Symbols