Polkadot and Cosmos linked through their respective projects, Plasma and Secret.
In one step linking the two platforms, two projects focused respectively on Polkadot and Cosmos networks, the Plasm Network and the Secret Network. This single zero-layer protocol stands for each network. This never-before-seen move meant that the Polkadot network could have access to Cosmos through Plasma.
Major Signals
- Polkadot and the Cosmos network linked by projects on their platform.
- This connects the networks to each other.
- This project could be the passageway for polka-dot projects to onboard Cosmos's network.
Launched on Tuesday, the Plasm testnet link was launched, and assets exchanged between the two networks were enabled. It also enables private transactions to be conducted. Secretswap, a self-regulatory Secret's Network market builder, can also be used by users on both networks.
Another perk that Plasm users can count on is Secret's privacy layer, backed by a trusted execution environment (TEE). This TEE allows for the performance of processes requiring privacy, bringing untraceability to these networks.
For the network's team, this is just the beginning as they expect the network to be the passageway for other Polkadot projects to onboard Cosmos. To do this, the team must make sure to cinch the parachains on Polkadot and others to become completely rooted in their domains.
The new link implementation relies on the recent security scheme from Secret, which uses multi-signature authentication and specialist validator transitions. This structure is much more common across varied links and results for interoperability, e.g., in the unity of layer-one networks, such as Ethereum links to other similar networks like Avalanche and others.
The linking mechanism has several policy suggestions, such as the carrying out of an active validator selection system. But for blockchain links, the lightweight prototype customer is a big deal. In this context, a blockchain will evaluate trade information separately and disclose the information to a smart agreement, thereby preventing an intermediary's necessity. One of the Plasm's creators said that they would likely adopt this method in the near future.
He also mentioned that they had an issue with the no_std rendition of some of the libs.
This is used to describe applications in the language of rust programming that does not utilize the standard library.
Conclusion
This connection between Plasm and Secret is the advent of this connection between the Polkadot and Cosmos network. More connections are expected from the linking of these networks, especially for Cosmos. The current link can connect the whole Cosmos system, so far as Secret is the entry point.
This marks a whole new perspective for similar networks like Polkadot and Cosmos, which are usually viewed as rivals. This interconnection could usher in a whole new era where such networks link up instead of competing with each other. DOT is currently trading above $40 currently.
Question of the day
What do you think this heralds for DOT and ATOM? Let us know in the comments.
