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AltcoinDecember 10, 2021

Understanding Cosmos - The Internet of Blockchains

Shubham Goyal
Product Specialist
December 10, 2021

What is Cosmos?

Cosmos is a technology that seeks to enhance how different blockchains operates. By creating an open-source network, Cosmos seeks to ensure that different networks are able to communicate, share data, and streamline transactions without a third party. Each crypto network cannot make any transactions on the Cosmos ecosystem without being connected to the Cosmos hub model. While it seeks to create an ecosystem of networks, Cosmos speeds the development processes of new blockchain and how they are built on the network. With its credible features, Cosmos authorizes different blockchains to customize their network, remain autonomous, operate their validators, govern, and secure their network

How does Cosmos work?

Cosmos operates an open-source network which enable developers to create blockchain applications. Cosmos serves three purposes which includes; application, networking, and consensus.

While Cosmos aims to improve communication and transaction between blockchains, it keeps the state of each network updated. It is only able to achieve interoperability of blockchains by creating a consensus between nodes on the system of network. Cosmos have different layers through which it operates. They include;

Cosmos Hub and Zones

Blockchains are able to communicate on the Cosmos technology through hub. This hub was the first blockchain to be launched on Cosmos. While there are different blockchains on the Cosmos network, the hub serves as an intermediary between them.

Zones are made up of different numbers of independent blockchains. In Cosmos, each zone is allowed to authenticate accounts, execute transactions, create and distribute new tokens, and modify its own system. Each zone is to carry out its functions without any interference.

However, Cosmos hub helps to enhance interoperability between different zones in the Cosmos network through Inter-Blockchain Communication (IBC) protocol.

Inter-Blockchain Communication Protocol

Cosmos also operates through the IBC protocol. This protocol connects the entire zone to the Cosmos hub. Since the hub enhances communication, the Inter-Blockchain Communication protocol ensures that it is done securely and fast. It allows zones with different applications, validators, and consensus mechanisms that are connected to the hubs to share data. This is to ensure that each zones are able to operate inter-dependently without any interference by a third party.

Cosmos SDK

Cosmos SDK enables developers to develop new applications on Tendermint. Cosmos seeks to help developers create a fast, scalable, and secure blockchain by providing Software Development kit (SDK). The software development kit allows developers to build blockchains through the Tendermint consensus algorithm.

SDK has made it less complicated for developers by providing the important elements of blockchains which include staking, tokens, and governance mechanisms. With its customizability feature, developers can modify the blockchains by adding new features and create plugins.

Tendermint

The Cosmos decentralized network relies on an open-source software like Tendermint which allows secure operations and attain consensus on the state of the network. Just like other blockchain developed on the BFT engine, Cosmos enhances how blockchain are created by enabling developers to create blockchains without coding them from the scratch. The Cosmos network works with Tendermint BFT to create a more secured network, authenticate transactions, and assign blocks to the blockchain.

Tendermint has a proof-of-stake known as Tendermint Core. It serves as a governance system by keeping network of computers operating on the Cosmos hub are in accord. There are validator nodes that help operate the blockchain and vote for change. However, these governance mechanisms are determined by the amount of ATOM.

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