3 reasons for the record-breaking price of Kazmas
The Cosmas ecosystem has recently had a successful period with the launch of the Intercity Intermediate Bridge and the imminent upgrade of Theta, and these factors have accelerated the 75% increase in the price of an ATOM token.
To Report Kevin Telegraph, In 2022, interoperability between the Chinese bloc will become a major issue in the digital currency ecosystem. New users continue to enter the world of digital currencies, and new projects try their best to meet the needs of this community.
One of the projects that will have a growing trend in 2022 due to its focus on facilitating communication between separate networks is Kazmas. The project introduces itself as the “Internet of Things blockchain” and seeks to facilitate the development process of a decentralized but interconnected economy.
Since December 30, when Casmas was at its lowest price level at $ 25.06, its price has risen 75 percent to $ 43.98 on January 4 and its 24-hour trading volume has been around It has reached $ 2.54 billion.
Reasons for the Kazmas price increase include launching a mid-range bridge to increase compliance with the Atrium Virtual Machine (EVM) protocol, as well as upgrading theta in the near future to rapidly expand the blockchain and app ecosystem.
Kazmas is gaining compatibility with the Atrium Virtual Machine
The most important reason for the rise in the price of Kazmas is the supply of “Evmos”. Evmos is an Atrium Virtual Machine compatible protocol that allows assets and projects operating on the Atrium network to migrate to the Kazmas ecosystem.
Until now, there was no way for atrium-based projects to interact with the Kazmas ecosystem, which significantly limited the number of projects and tokens that could interact with the Defi and NFT tokens in the Casmas ecosystem. .
Launched on December 15, Gravity Bridge is another project dedicated to facilitating the connection of assets in Atrium and Kazmas, and currently operates as an independent chain. Migration to the Cosmos Hub blockchain in early 2022 is currently being planned.
Advance to upgrade theta
The second project that is blowing like the wind on the sails of the Casmas ship is the upgrade of the Theta protocol in the near future. This update is scheduled for March 31 (April 11).
One of the features that this update brings is the ability to take advantage of meta-transactions; A model in which several different accounts can verify a set of transactions. The mentioned accounts will receive a reward for confirming the transactions. There is also a new concept called “intermediate chain accounts” that allows users to manage their accounts across different networks. Another new feature of this update is the liquid staking scheme, which allows users to use the assets shared in the protocols in other parts of the Casmas ecosystem.
Finally, there is the issue of modules for unique tokens that help users easily manage the identities of these tokens, their owners, and other related data.
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Developing ecosystems will also see rising prices
The third reason for predicting the upward trend in Kazmas prices is the continued expansion of the ecosystem into 28 active and interconnected chains, valued at more than $ 68 billion.
Some of the sustainable chains that have joined the Kazmas ecosystem include Terra, Bainance Smart China, and Crypto.com (Crypto.com). Also for the biggest projects that use the Kazmas Software Development Kit (SDK) are Osmosis, Secret, Oasis Network and Kava.
By creating intermediate chains that connect Casmas to other networks compatible with the Atrium Virtual Machine, the number of blockchain blocks connected to the Cosmos Hub is expected to increase, which will also increase the value of the entire ecosystem.