What is Cosmos?

Cosmos is a decentralized network of independent, scalable, and interoperable blockchains, aiming to create an "Internet of Blockchains" where multiple networks can communicate seamlessly. Launched in March 2019 by developers Jae Kwon and Ethan Buchman, Cosmos addresses scalability, usability, and interoperability challenges in blockchain technology. Its native token, ATOM, is used for transaction fees, staking, and governance within the ecosystem.

How is Cosmos useful?

Cosmos enables interoperability between different blockchain networks, allowing them to exchange data and assets without intermediaries. This fosters innovation by letting developers create custom, sovereign blockchains that interconnect seamlessly. ATOM tokens help secure the network through staking and give holders governance rights, allowing them to vote on upgrades and protocol changes.

How does Cosmos work?

Cosmos operates using a modular architecture that includes Tendermint Core, the Cosmos SDK, and the Inter-Blockchain Communication (IBC) protocol. Tendermint Core ensures secure and high-performance consensus, while the Cosmos SDK simplifies blockchain development with pre-built modules. The IBC protocol allows seamless communication between independent blockchains within the network. Validators secure the Cosmos Hub by staking ATOM tokens and verifying transactions, while delegators stake their ATOM to validators, earning rewards in return.

Cosmos milestones

• Mainnet Launch: Introduced in 2019, enabling blockchain interoperability through the Cosmos Hub.

• IBC Protocol Activation: Launched in 2021, allowing seamless cross-chain asset and data transfers.

• Expanding Blockchain Ecosystem: Hundreds of chains, including Terra, Osmosis, and Secret Network, now interoperate through Cosmos.

• Governance and Upgrades: Continuous enhancements, including Cosmos 2.0 proposals, focusing on scalability, security, and economic sustainability.

Cosmos’s focus on interoperability and scalability has positioned it as a major force in blockchain innovation, promoting a more connected and efficient decentralized ecosystem.

Buy Cosmos (ATOM) on BITmarkets.