Comdex Partners With Cosmwasm

Introduction

Comdex has made some giant strides in its attempt to democratize the synthetics commodity market. There has been lots of partnerships and developments put in place to ensure the success of this project. The launch of the Comdex Decentralized Synthetics Exchange is around the corner and it promises to be a whole new experience to the Comdex users. The major goal of this project is to give investors access to a large range of asset classes which are synthetic assets.

One of the important attributes of synthetic assets is that they are non-inflationary and their prices are a bit stable and not prone to constant price fluctuations. This makes owning them an interesting prospect as they provide an hedge against inflation and market volatility.

To further enhance how the synthetic exchange will function, Comdex partners with CosmWasm in order to give users a seamless experience. This article will talk about this latest Comdex partnership and how it will be of benefit to the Comdex ecosystem.

About CosmWasm

CosmWasm is a smart contract platform built for the Cosmos ecosystem. CosmWasm smart contracts employ the Cosmos’ revolutionary InterBlockchain Communication (IBC) protocol. As a result of this feature, CosmWasm can execute interoperable, multi-chain contracts at once, unlike Ethereum smart contracts that can only operate on a single chain.

Features of CosmWasm

• CosmWasm incorporates a Web Assembly (Wasm) virtual machine (VM), which allows software to be written in several different languages and in a secure manner.
• The security feature of CosmWasm is one to reckon with, as there are safeguards incorporated to fend off attack from vectors. One of such safeguards is that CosmWasm ignores any smart-contract that tends to instigate integer overflows/underflows, this helps to deprive sketchy smart contracts of opportunities to retrieve excessive amount of tokens.
• CosmWasm was built using a ridiculously high performance programming language called Rust. This makes the protocol incredibly fast and versatile allowing users to enjoy a seamless experience. To demonstrate the user friendly nature of this protocol, CosmWasm users do not necessarily need to constantly upload new smart contract codes everytime, all that is needed is for the wasm code to be uploaded once and then it is gzipped into a blockchain transaction and then instantiated whenever it is needed again.

How CosmWasm Will Benefit Comdex

Interoperability is a key feature of CosmWasm and since synthetic assets allow the creation of derivatives with basis on the value of an underlying asset or group of assets, CosmWasm's integration into the Comdex ecosystem makes this process easier, as it will facilitate the activation and interactions of any smart contract-based synthetic asset from any IBC-based blockchain.

Conclusion

The Comdex Synthetic Exchange has sparked a lot of interest from investors as this provides an option to actually trade and utilize synthetic assets like oil, gold, silver etc all within a crypto portfolio without necessarily going through the hassles and complexities involved with owning these commodities in real life.

The partnership between Comdex and CosmWasm makes a lot of sense as interoperability across different chains will be guaranteed due to the amazing features of CosmWasm mentioned above. It is however important to note that CosmWasm has a proven track record of success after integrating successfully with several projects like Terra, Tendermint, Regen, Anchor and Crypto.com. It will be interesting to see how this synergy between Comdex and CosmWasm will bring about another success story to the DeFi space.

About Comdex

COMDEX is a decentralized synthetics protocol in the Cosmos Ecosystem. Comdex builds solutions to democratize finance by giving investors exposure to a large range of asset classes.

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