https://ift.tt/O4pD2xA to Cosmos Bridge – How To Send Crypto From ETH To Cosmos Blockchain

Ethereum to Cosmos Bridge – How To Send Crypto From ETH To Cosmos Blockchain

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ETH to Cosmos bridge

The existence of bridges in the crypto world serves to transfer tokens and other data between blockchains. Both chains are separate, have their own protocols and smart contracts that help to securely conduct transactions.

In this article, we will discuss cross-chain bridges used for Ethereum and Cosmos blockchains transactions.

Intro

Ethereum is a decentralized finance platform based on blockchain technology that provides security and safety. Transactions are made through smart contracts, which are actually the central component of this platform. Ethereum has its own cryptocurrency, ETH, and it is in 2nd place on market value right after Bitcoin.

Cosmos is an entire ecosystem of DeFi blockchains that exchange cryptos and some other data by using the IBC protocol. It’s a proof-of-stake kind of chain. The first chain of the Cosmos network is Cosmos-Hub which connects to other blockchains through an inter-blockchain communication protocol. Cosmos Hub has its primary token called ATOM, and by staking (by locking them up), users can earn rewards in the form of new ones. Still, staking isn’t risk-free.

Best Ethereum to Cosmos bridges (many still work in progress)

In the text below is a list of the best bridges between Ethereum and Cosmos blockchain bridges.

e-money.com

E-money is a Danish blockchain platform for payment based on Cosmos technology. Supported currencies by e-money currently are CHF, EUR, DKK, NOK, and SEK. In addition, it is planned to add GBP, USD, and JPY. Furthermore, E-money has its own token called Next Generation Money – NGM.

It is a rewarding and staking token, and with staking them, users can make the network safe and secure. The features that e-money has are fast transactions, near-zero fees, interoperable communication between blockchains, easy to use, reliable, and compliant payment protocol.

Aioz network

Aioz network blockchain is an interoperable layer-1 blockchain that works based on IBC protocol, allowing connection and exchanging data and tokens with other chains based on Cosmos. Aioz is also compatible with Ethereum Virtual Machine (EVM). Smart contracts supported by the Aioz network are WASM and based on Solidity. $AIOZ is a native token by the Aioz network.

Gravity Dex

Gravity DEX protocol is the 1st cross-chain protocol on Cosmos Hub. It is secured by 3 billion USD in cryptos. It allows swaps and a pool of digital assets between Cosmos Hub-connected chains, including Ethereum. It has low fees between 0.01% and 0.1%.

Sifchain

Sifchain is a DEX omni-chain platform built with Cosmos SDK. Sifchain prides itself on fast transactions and low fees. Sifchain will support cross-chain transfers for up to 25 blockchains such as Binance Chain, Bitcoin, EOS, and Polkadot, which are leading in trading volume. The goal of Sifchain is that all cryptocurrency’s liquidity can be accessed on-chain which allows DAOs to allocate all capital. Rowan (RWN) token of Sifchain network.

Every swap brings swap fees for RWN holders, and also, there are rewards for staking in the VS and providing liquidity in the LPS. Also, Sifchain has two-sided pools of liquidity – in one of them are Rowan tokens, and the other is an equal amount in external tokens (ETH, BTC, XLM, etc.).

Evmos

Evmos is a proof-of-stake IBC protocol-based blockchain totally interoperable with Ethereum. IBC is, for now, the safest way to transfer assets between blockchains on DeFi. Evmos is built by Cosmos SDK. The important thing about Evmos is that it allows its users to use all the benefits of the Ethereum blockchain and also has benefits using Tendermint’s Core. Apart from these, the most important characteristics are his compatibility with Web3 and EVM and fast execution of transactions.

Demex

Demex is layer-2 DeFi cross-chain exchange. Its main features are no third-party involvement in custody, no KYC required, and a low chance of hacker attacks. Demex is powered by Carbon protocol (a layer-2 trading protocol that powers cross-chain trade markets and infrastructures). Supported wallets on Demex are MetaMask, Ledger, Keplr Wallet, and Encrypted Key.

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Centralized exchanges

Binance

Over 30 million users worldwide and more than $15 billion in daily trading volume make Binance the world’s largest centralized cryptocurrencies exchange. Binance offers an impressive number of cryptocurrencies that you can buy, sell, and trade with low trading fees.

It supports spot trading, futures, P2P trading, margin trading, earn (locked and fixed savings, DeFi staking, and yield farming), mining and staking pools. You can trade more than 350 cryptos and over 1300 trading pairs. Binance is supported in more than 60 countries (excluding U.S. residents).

Binance is also available for both iOS and Android devices. It also offers, maybe the best, free learning platform in the industry.

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Kucoin

Founded in 2017 and with H.Q. in Singapore, KuCoin is among the leading cryptocurrency exchange platforms on the market. It has 10+ million users worldwide and 6+ billion in 24h trading volume. KuCoin offers an impressive number of cryptocurrencies that you can buy, sell, and trade with one of the lowest fees in the crypto industry.

Today, KuCoin is available in more than 180 countries around the globe. KuCoin supports buying, selling, spot trading, margin trading, futures, leverage, spot grid trading, staking, lending, OTC trading, P2P trading, earn, and pool.

KuCoin currently supports more than 500 cryptos, including the most popular ones like BTC, ETH, LTC, XRP, ADA, etc., and over 1000 trading pairs. In addition, you can choose 25 different fiat currencies for deposits, including USD, EUR, GBP, AUD, CAD, JPY, and 20 more.

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Kraken

Kraken is one of the oldest and biggest centralized cryptocurrency exchanges on the market. It was founded in San Francisco, California, the United States, in 2011. It has over 4 million users all over the world. Kraken offers 90+ cryptocurrencies that you can buy, sell, and trade.

Kraken is available in more than 170 countries around the world. It is registered under FinCEN in the U.S., but residents from New York and Washington aren’t allowed to use it.

This exchange currently supports 90+ cryptocurrencies, including the most popular ones like BTC, ETH, LTC, XRP, ADA, etc. Besides buying and selling crypto, this exchange also supports margin trading, OTC trading, market, and stop-loss limit order, staking, limit, futures, take profit market order, and more. It is an easy-to-use exchange and an ideal platform for secure, safe, and fast transactions.

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FAQs

Is Cosmos compatible with Ethereum?

Yes, Cosmos and Ethereum are compatible.

Is Cosmos an ERC20?

Cosmos tokens are represented as ERC20 tokens on the Ethereum blockchain when transferring assets from Cosmos to Ethereum.

Is Cosmos The Next Ethereum?

Given that Ethereum is second on the list in terms of market value, financial crypto analysts and forecasters predict an increase in the value of ATOM from year to year in the coming period. From that aspect, it can be said that Cosmos is the next Ethereum.

Is Cosmos on Ledger?

Ledger Hard Wallet supports Cosmos (ATOM), but version 2.23 of Ledger Live doesn’t support Cosmos (ATOM) anymore. Therefore, it is necessary to update the Ledger Live app.