Switcheo’s Era Of Interoperability With Cosmos Stargate
Switcheo TradeHub is one of many projects that utilise Cosmos-SDK as an underlying technology and is currently in the midst of completing the Stargate upgrade.
A key component of Stargate is the Protobuf Migration. The Migration improves the core encoding format of Cosmos SDK based blockchains like Switcheo TradeHub, and will bring huge improvements in the form of faster transactions, lower gas costs, and more transactions per block.
With this change, transaction throughput and TPS is expected to increase by 10x to 100x! This is a key improvement for Switcheo TradeHub, allowing platforms like Demex to handle the growing volume of cross-chain transactions. The increased efficiency brought to Switcheo TradeHub will also lower the hardware requirements for validators securing the protocol. With a lower entry bar, we foresee more validators joining in, further decentralizing the protocol.
Stargate will also bring Ethereum Virtual Machine (EVM) compatibility to Switcheo TradeHub, whereby users will be able to connect their Metamask wallets directly with the protocol. This removes the need for a separate mnemonic and key to be generated for Switcheo TradeHub. Instead, a single address can be used for both Ethereum, BSC and Switcheo TradeHub wallets, allowing for transactions to be signed directly using Metamask or other Web3 wallets. Very soon, you’ll be able to deposit and trade directly from your wallet, as if you are using a native Ethereum or BSC dApp!
The Stargate Upgrade marks the realization of the original Cosmos vision and presents newfound possibilities for Switcheo TradeHub with its promise of greater interoperability, heightened performance and improved developer ease-of-use. It brings a whole new dimension to participating protocols and has the potential to reshape the DeFi landscape as we know it. Landing on Switcheo TradeHub soon, read more on the Cosmos Stargate Upgrade here.
What is Switcheo?
Switcheo is a protocol and software development entity focused on building groundbreaking platforms and blockchain solutions that pave the way for a decentralized future. Its flagship protocol, Switcheo TradeHub, is a layer 2 cross-chain protocol designed for high-performance trading of any asset, at scale. Traders can deposit tokens from various L1 chains to trade on Demex, a 2nd-generation DEX powered by the Switcheo TradeHub protocol.
What is Cosmos?
Cosmos is an ever-expanding ecosystem of interconnected apps and services, built for a decentralized future.
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