The Layer 1 blockchain Kava, which features a distinctive co-chain design, is about to get a new mainnet update called Kava 14. The new internal bridge capability will be made available with the first supported asset of ATOM thanks to the Kava 14 mainnet upgrade.
On July 12, 2023, at about 3:00 p.m. UTC, the Kava 14 upgrade is anticipated to take place at block height 5,597,000.
A Cosmos-native asset and an ERC20 representation of the asset in the EVM may now be converted, according to Github notes about the next release. Simply said, the release of Kava 14 would enable the access of native Cosmos assets on the Kava EVM.
The upgrade would enable asset conversion between the Cosmos and Ethereum ecosystems via the new internal bridge feature, which is touted as a safer alternative to third-party bridging solutions for IBC dApps and app chains, as well as EVM dApps.
The Kava (KAVA) network update will be supported, according to the Binance cryptocurrency exchange. As a result, KAVA deposits and withdrawals will be temporarily suspended starting around July 12 at 2:00 PM (UTC), but Binance trading will continue as usual. The crypto exchange says it will allow deposits and withdrawals for KAVA once the updated network is considered reliable.
May witnessed the successful deployment of the “Kava 13” mainnet update, which improved the KAVA infrastructure to provide users increased security, scalability, functionality and speed.
The co-chain architecture of the 2018-founded Kava network blends the adaptability of the Ethereum virtual machine with the interoperability of the Cosmos software development kit. Users are able to benefit from the Cosmos “zones” functionality in the Kava protocol thanks to this design.
KAVA was selected as the USDt HUB for the Cosmos ecosystem in June. Tether, the organisation behind the largest stablecoin USDT, announced the introduction of dollar-pegged Tether tokens on Kava at the same time. As a result of the connection, native USDt may now be distributed to the more than 60 Cosmos app chains.
