Sovereignty: On blockchains, all the economic activity takes place on a single chain.
Following this, Cosmos caters to three problems in the blockchain: sovereignty, scalability, and sustainability. They are hard to build and cannot handle a small number of transactions per second. The Cosmos Hub aims to provide interchain token exchange, interchain security, bridges to ETH and BTC, and interchain token custodianship.Īccording to the Cosmos whitepaper, blockchains are isolated and cannot communicate. The Cosmos Hub is a blockchain that serves as the economic center of the Cosmos platform. The Cosmos SDK is an open-source framework that aims to build multi-asset public proof-of-stake (PoS) blockchains. BFT (Byzantine fault tolerance) is a consensus algorithm of a distributed network that reaches consensus even when some of the network’s nodes respond with incorrect information or fail to respond. Tendermint BFT is a proof-of-stake consensus protocol that powers the Cosmos Hub and the Cosmos SDK (software development kit). The network functions using BFT consensus algorithms along with Tendermint consensus, which is used to power each blockchain in the Cosmos. Cosmos seeks to create an Internet of Blockchains through which blockchains can maintain sovereignty, interact with other blockchains in the ecosystem, and process transactions quickly–making it optimal for multiple use cases. The Cosmos (ATOM) network is an ecosystem of blockchains that can scale and interoperate.
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