Cosmos sees 1 million transfers a month through the ecosystem

The interconnect protocol on which Cosmos runs has been growing steadily over the past 6 months.

The Cosmos Inter Blockchain network has been steadily growing along with the projects that run on top of it, and has just reached an important milestone in terms of activity.

The Inter Blockchain Communication (IBC) protocol, which is the backbone of the Cosmos ecosystem, has seen a surge in activity in the last month, with over one million transfers registered.

Cosmos launched IBC in March to provide interconnected decentralized funding and interoperable non-functional token transfers. It has grown significantly over the past six months, incorporating new projects and blockchains into the ecosystem.

Other notable projects working on the protocol include Terra, Band, Kava and Chaosnet by THORchain.

In the Mapofzones ecosystem, a researcher shows Cosmos , that there have been 1,071,132 transfers in the last 30 days and 45,738 IBC transfers in the last 24 hours.

Automated market maker Osmosis is responsible for the lion's share of these IBC transfers, accounting for 44% of the total, with Cosmos chains recording 307,855 transactions, or 29% of total IBC transactions, in the past 30 days.

The IBC standard provides a secure method of exchanging data between independent blockchains while scaling by segmenting and sidechaining for different applications. Cosmos is just one of many networks operating on the IBC protocol.

Digital asset payments and wallet provider also operates on the Cosmos network. In late September, it launched its own NFT platform and trading platform, which gave it new momentum.

In June, Cosmos launched its Kava DeFi platform, which allows Binance Coin deposits into secured credits in its USDX Stablecoin.

Cosmos is also working on aggregation scaling technology to allow developers to create Cosmos-based blockchains as aggregations that can be deployed as clusters in IBC zones. In his Oct. 6 tweet, he explained that the scaling technology, called Optimint, would be a "replacement" for the current Tendermint platform on which it is built.

Cosmos has its own token called ATOM, which has fallen 5.1 percent in the past 24 hours and trades at $35.39, according to CoinGecko . However, the token is up 37% in the last month and just 19% below its record high of $44.42 from Sept. 29


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