Cosmoverse Conference 2021 inaugurated in Lisbon
Cosmoverse Conference, organized by the team behind interoperable blockchain network Cosmos (ATOM), has kicked off the event in Portugal’s Lisbon.
At the two-day event, a discussion on technologies under development by the Cosmos network has initiated, the talks led by Zaki Manian. Manina is the Co-founder of DeFi, project Sommel and also former lead developer at Cosmos and Tendermint.
According to Manian, a development dubbed as ABCI ++ would enable adding consensus events on other blockchains to the existing block production process, hence improving the efficiencies of cross-chain bridges and oracles on the ecosystem.
Next, developers would also be able to use dynamic IBC (dIBC) functionality for introducing governance proposals across different blockchains instead of only IBC token transfers. Liquid staking would enable users to stake their ATOM while simultaneously receiving a derivative of the asset that can be utilized in DeFi applications.
Interchain accounts, further, are meant for helping to build multichain applications, where decentralized autonomous organizations, or DAO, would on one chain be able to directly control accounts or wallets on another.
Co-founder of Osmosis, a decentralized exchange, Sunny Aggarwal, also has in one of the talks elaborated on the concept of liquidity staking. Aggarwal has also explained that coin holders could soon be able to earn better yields by simultaneously having access to multiple DeFi pools within the same underlying tokens.
Aggarwal also raised the example of users who are pledging their Osmosis (OSMO) tokens for providing trading liquidity for the exchange, and to receive OSMO liquidity provider tokens, and finally to deposit the same OSMO LP tokens back into a staking pool. Likewise, coin holders would be able to harvest the yield in the LP pool and the staking pool all at once.
In another panel, Co-founder of Commercio.network, Enrico Talin has claimed of having created their first legally-binding blockchain in the world. Its infrastructure reportedly stores encrypted versions of users’ personal data, including vaccine records, passports, driver’s licenses, etc.
Now, theoretically speaking, users would be able to send their electronic signature and proof of identity over the blockchain, such as during sign-ups for new bank accounts. The verifier would then confirm via a decentralized consensus, whether the signature is genuine and the documents are from a valid issuer or not.
One must, however, note that no personal data is exchanged via the blockchain, but only their proofs are. Talin had noted in the panel discussion the possibility of the creation of a legally binding nonfungible token, or NFT, or contracts that can properly confirm the ownership of real-world assets.
Later towards the end of 2021, privacy-broadcast features, legal document NFTs and IBCs would all be available on Commercio.network.