As 2023 draws to a close, Istanbul has cemented its position as a vibrant hub for crypto conferences. The city will host several major crypto events this November, including Binance Blockchain Week and the Ethereum-centric DevConnect. Cosmoverse, now in its third year, is an appetizer to these main events, offering a unique glimpse into the Cosmos ecosystem.
The community-driven event was bustling with teams showcasing their latest projects and seeking mindshare from attendees. Despite the ongoing bear market, the conference mood was decidedly upbeat. Attendance was up year-over-year, with estimates coming in at over 2,000.
A Bridge Between East and West
Istanbul’s strategic location at the crossroads of Europe and Asia makes it an ideal venue for Cosmoverse. The city’s Bosphorus bridge symbolically connects the East and West, attracting attendees from both continents.
A Compact and Spacious Venue
Cosmoverse was held at the Swisshotel Bosphorus, a spacious venue with a compact layout. Most of the action took place across three floors, offering spectacular views of the city’s harbor from the rooftop restaurant.
Participants could easily navigate between the main stage, showcasing a packed schedule of keynotes and panels, and the adjacent lounges. These lounges provided opportunities for networking, coffee breaks, and media interviews.
Special Purpose Conference Rooms
Cosmoverse also featured a handful of special purpose conference rooms. These rooms hosted side events, such as Agoric’s AppJam and live-streamed talks for guests unable to attend in person.
Exhibition Hall and Networking Opportunities
The exhibition hall on the upper floor of the hotel provided a hub for conference participants to connect with peers, meet users, and engage in informal discussions.
Governance Proposals and Merger Intrigues
On the sidelines of the conference, stakeholders of the Cosmos Hub and other key infrastructure projects discussed governance proposals for unifying the ecosystem. The first formal proposal came from the Stride Labs team, who proposed the integration of their protocol into the Hub.
The proposal sparked discussions in community forums, with some early reactions expressing skepticism. STRD holders voiced concerns that an exchange for ATOM tokens could undervalue their independent liquid staking protocol.
Bringing Bitcoin to Cosmos
Several developer teams showcased new products that could provide fresh impetus to the Cosmos ecosystem.
For example, Bitcoin holders will soon have a new option for earning yield on their assets through Nomic’s nBTC. This decentralized solution eliminates the need for centralized custodians and allows users to deposit Bitcoin directly into the Nomic protocol. nBTC is IBC-compatible, enabling its use throughout the Cosmos ecosystem.
Matt Bell, CEO of Turbofish Software Development, believes that Nomic’s features, based on Bitcoin’s Taproot upgrade, will allay the concerns of Bitcoiners.
Bell also highlighted the security measures implemented in Nomic. With only 10% of the validator set required to be honest, the safety of the bridge remains intact.
Osmosis, a decentralized exchange on the Cosmos network, demonstrated how users can deposit and withdraw Bitcoin directly within its application, further enhancing the interoperability of Bitcoin with the Cosmos ecosystem.
Bell expressed optimism that a significant portion of Bitcoin holders will find Nomic appealing, providing a new avenue for them to earn yield on their digital assets.
