Official website: https://cosmos.network/
Cosmos describes itself as a project that s solving some of the “hardest problems” that the blockchain industry faces. The project aims to provide a remedy to the “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like the one used by Bitcoin, by providing an ecosystem of connected blockchains.
The project has additional goals, which include making blockchain technology less complicated and tricky for developers which they will do through a modular framework that demystifies decentralized apps. Finally, they would like to implement an Interblockchain Communication protocol that would make it easier for blockchain networks to communicate with on another which would prevent fragmentation in the industry.
The beginnings of Cosmos can be traced to 2014. This was when Tendermint was founded which is a core contributor to the network. Back in 2016, the white paper for Cosmos was issued, following this a token sale was held the following year. ATOM tokens can be earned by using a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub secure, which is the project’s flagship blockchain. ATOM also has a part in the governance of the network.
Tendermint is the gateway to the Cosmos ecosystem, its co-founders consist of Jae Kwon, Zarko Milosevic and Ethan Buchman. Kwon is still listed as principal architect, however he stepped down as CEO in 2020. He does still maintain that he is a part of the project but is mostly concentrating on other initiatives. He has now been replaced as by Peng Zhong as Tendermint’s CEO. Further to this, the whole board of directors were given quite a significant refresh. The goals they have outlined include the enhancement of the experience for developers, establishing an enthusiastic community for Cosmos and creating educational resources so larger numbers of people are aware of the capabilities of the network.
Stargate is a collection of upgrades that intend to finalise the original roadmap that was presented in the Cosmos Whitepaper. For the first time, Cosmos blockchains can connect with one another using the first standardized protocol for inter-blockchain communication (IBC).
These upgrades will bring substantial performance enhancements to the blockchains that are built with Cosmos SDK. The features of the Stargate upgrade are listed below.
Cosmos SDK-based blockchains will be able to incorporate the Inter-Blockchain Communication (IBC) Protocol to communicate with any other compatible blockchains. The Cosmos Hub will be the first blockchain to support IBC in production.
The full-node synchronization process will be reduced from 2 days to just 30 mins or less for blockchains built on top of Tendermint Core.
The upgrade module enables the upgrade process of the chains that are created with Cosmos SDK. Migration from one version to the next will take minimal time as opposed to the hours it took before.
Full-featured Light Clients
Light clients were created as the lightweight alternatives to a full node. This will allow a wide range of devices to receive blockchain data securely and effectively for new network nodes and inter-blockchain communication.
Transition from Amino to Protobuf
Protobuf delivers the performance upgrades and developer acceleration to Cosmos SDK-based blockchains with efficiency gains of between 10-100x, with additional language support.
Trust wallet is a wallet that can hold a wide variety of cryptocurrencies such as Cosmos making it highly desirable for users who wish to have a varied portfolio. Being owned Binance, it also a very trusted wallet in the crypto community.
Leading hardware wallet providers such as Ledger are integrated with Cosmos and ATOM wallets will come as standard on their devices.
You can store your Cosmos in Exodus along with various other cryptocurrencies. Exodus is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus will then be tied to whichever device it has been downloaded to which will also be the device you will use to access and manage your crypto assets.
You can Buy & Sell Cosmos (ATOM) by heading over to the Buy Coins page of our website. Cosmos (ATOM) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Tether has never been easier, simply place your order and provide your wallet address.
Once your payment arrives Cosmos will be sent directly to your wallet. If you choose to Sell Cosmos (ATOM) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.