What is Cosmos!

When looking into a project, a blockchain, the main question we need to ask ourselves is: what problem does the new blockchain solve and if anyone would actually need it.

HELPFUL LINKS:

✅BLOCKFI - GET UP to $250 Dollars in bitcoin when using the link:
[ Ссылка ]
_________________________________________________________

✅BINANCE - 20% off all your commissions when signing in:
[ Ссылка ]
Ref Code: Y5XZV3GV
_________________________________________________________
✅CRYPTO.COM - get 25$ when signing in:
[ Ссылка ]
_________________________________________________________

Time Stamps:

0:00 - Questions you should ask.
1:01 - What Cosmos Solves?
1:32 - Cosmos Creation.
2:23 - Like and Subscribe :)
2:46 - How Cosmos Works?
3:48 - Cosmos Open Source Tools
5:02 - Why do we need the ATOM Token?
5:27 - Should I Buy ATOM?
7:23 - Predicting Cosmos Price.


So WHAT Cosmos solves and what is it exactly:

The Cosmos Hub, is proof-of-stake blockchain and it is powered by its native ATOM cryptocurrency.
The purpose of cosmos is to be the “internet of blockchains”.
Which means that cosmos creators’ grand vision is that every blockchain will be able to interact and share date security with one another.
Instead of the concept that one blockchain that will rule them all, cosmos’s goal is to connect the crypto space together.
COSMOS CREATION
Developers Jae Kwon and Ethan Buchman co-founded the Cosmos network in 2014, at the time creating Tendermint, the consensus algorithm that would go on to power Cosmos.
Five years later, after an extensive research and development Kwon and Buchman released its white paper and lunched Cosmos officially at 2019.
And now at 2021, one of its f its more consequential updates went live. the first version of its inter blockchain communication protocol or IBC for short.

COSMOS:

Cosmos creators’ vision was to eventually power an ecosystem of blockchains designed to scale and communicate with each other in a decentralized way – The Internet of blockchains.

How is the Cosmos network function?

COSMOS hub and zones:
Cosmos works on a modular architecture with two classes of blockchains: Hubs and Zones.
Zones are regular heterogeneous blockchains and Hubs are blockchains specifically designed to connect Zones together.
The Cosmos Hub was the first blockchain to be launched on the Cosmos network. It was built to act as an intermediary between all the independent blockchains created within the Cosmos network.
In Cosmos, each zone is able to carry out its essential functions on its own. This includes authenticating accounts and transactions, creating and distributing new tokens and executing changes to its own blockchain.
The Cosmos Hub is tasked with facilitating interoperability between all the zones within the network by keeping track of their states.
Zones are connected to the Cosmos Hub via the Inter-Blockchain
Communication protocol (IBC) which was released this year.


The way this vision was achieved was through a set of unique open source tools.

1. Tendermint:

The Tendermint allows data exchange to be safe and secure between the cosmos hub and other blockchains.
The most essential element to this layered design is the Tendermint BFT engine, the part of the network that allows developers to build blockchains without having to code them from scratch.

2. Cosmos SDK – software developers kit:
The Cosmos SDK allows users to build its own independent blockchain using the tendermint consensus algorithm.
The Cosmos SDK is a modular framework that simplifies the process of building secure blockchain applications.

3. IBC - Inter-Blockchain Communication protocol
IBC can be thought of as the TCP/IP for blockchains. IBC allows fast-finality blockchains to exchange value and data with each other in a decentralized way.

So what does the ATOM token has to do with the Cosmos Space?
The ATOM token plays a key role in maintaining interoperability between all zones in the wider Cosmos network and can be used for holding, spending, sending or staking.


I think this ecosystem is one of overlooked projects out there.

*I am not a financial adviser, and I would never tell you to buy or sell anything. I am simply did a bit of research so you could make better and informed decisions.

*Music was taken from Bensound.com

свернуть