Cryptocurrency News

Blockchain Firm Tendermint Is Developing A Cryptocurrency App Store

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It has been announced today by the blockchain firm named ‘Tendermint’ that it is developing an app store for cryptocurrencies, called ‘Emeris,’ to make many decentralized applications accessible by the users. The decentralized exchanges, lending protocols, and other such applications would be available for service to the consumers in one place through using ‘Emeris.’

The release of the project’s beta version is scheduled to be launched in the later period of this month, and its public launch is planned for September. Peng Zhong, the CEO of Tendermint, stated that the ‘Emeris’ was the best upgrade of the company that will serve the customers as a one-stop platform to surf the blockchain internet. He further disclosed that the beta version of the project would launch within this month. He added that the project had been designed to fulfill the purpose of presenting integrated digital finance (DeFi), which includes cross-chain networking.

Tendermint works as the central support to the network of Cosmos, which consists of multiple interconnected blockchains. The network grants blockchain software along with the development kits to be utilized in the blockchain projects working in the ecosystem of Cosmos.

Excelling over the Cosmos

Emeris’ beta version will commence as a dashboard for the decentralized applications running in the ecosystem of Cosmos, which will be non-custodial, signifying that the users themselves will be the controllers of their funds. The target for this project will be the ‘DeFi’ protocols.

The protocol of a decentralized exchange, ‘Gravity DEX,’ that trades tokens between the blockchains will be supported by the beta version. In the beginning, various blockchains of the Cosmos network, including Akash Network, Crypto.com, and Cosmos Hub, will be supported by the beta version. However, it has been intended by the firm that ‘Emeris’ will incorporate several advancements beyond the dynamics of Cosmos.

Coinbase: a parallel crypto ecosystem

Coinbase is another crypto exchange that is planning the provision of a consolidated platform for accessing the crypto ecosystem. Recently, it has revealed that it also wishes to construct an app store in which all the recognized cryptocurrencies accepted by the platform will be added.

Coinbase is already giving access to decentralized applications through its wallet app (which is non-custodial) named ‘Coinbase Wallet.’ It is a type of web browser which surfs between the decentralized apps and then takes the customers to their respective websites to approach them directly.

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