![]() ![]() ![]() Having worked on the Cosmos project for nearly three years, Manian revealed that the launch of the Cosmos Hub represents only the first stage in the development of a growing ecosystem of interconnected blockchains.Īccording to Manian, Cosmos is the first blockchain network that applies classic BFT consensus and also uses a special algorithm developed by Tendermint (the company). Launched on March 13, 2019, the Cosmos Hub is the first blockchain platform which was added to the Cosmos Network.įirst Blockchain to Implement Classical BFT Interoperable blockchains are able to interact with each other - even though they might be based on two fundamentally different protocols. #OSMOS CRYPTO SOFTWARE#This, according to Cosmos’ developers, who argue that the Tendermint Byzantine Fault Tolerant (BFT) blockchain consensus algorithm resolves the scalability problem.Īs explained by Zaki Manian, Director at Tendermint Labs (an organization that is responsible for the principal development of the Cosmos Hub), the Cosmos software development kit (SDK) allows developers to implement platforms that enable blockchain interoperability. Moreover, these networks are managed using the energy-intensive mining process, which is harmful to the environment. In addition to being “unscalable”, Cosmos’ technical team notes that PoW-based blockchains are usually slow and expensive to use. A relatively large number of users currently transact on the Bitcoin and Ethereum blockchain, however Cosmos’ design team claims these networks cannot effectively scale to accommodate a growing number of network participants.Ĭosmos’ Developers: Existing Blockchains are Slow and Expensive to Use Large PoW chains including Bitcoin (BTC) and Ethereum (ETH) suffer from scalability problems as they can only process up to 20 transactions per second (TPS). These include scalability, interoperability, and usability.Ĭosmos’ Design Team: Tendermint BFT Solves Blockchain Scalability ProblemĪs a proof-of-stake (PoS)-based platform, Cosmos has been developed to solve (what its creators consider) the inherent problems in proof-of-work (PoW)-enabled cryptocurrency networks. As noted on its official website, the Cosmos ecosystem aims to be the most scalable and most “customizable” platform for building high-performance applications.Īccording to Cosmos’ developers, the “internet of blockchains” network has been designed to solve three main problems faced by DLT-powered cryptocurrency platforms. Cosmos is a distributed ledger technology (DLT)-based network that has been designed to allow different blockchain platforms to communicate and exchange data with each other. ![]()
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