Why would a company’s stock rise 10% after laying off half its workforce? Also, this isn’t a narrative about a takeover.
As a result of Cosmos ATOM’s success, the project has developed and evolved much beyond its original team.
In the last several weeks, there have been several conflicting developments in Cosmos:
In April, Billy Rennekamp (Product Lead of Cosmos Hub) spoke on Charlie Shrem’s Untold Stories podcast and defined Cosmos as an “internet of blockchains,” where engineers “collaborate beyond team boundaries.”
Binance Smart Chain BNB and well-known DeFis and exchanges like THORChain RUNE and KuCoin KCS are among the 49 new applications and services that have been added to Cosmos today.
The developer community has shifted away from Ethereum ETH as the Cosmos ecosystem has expanded and prospered.
Since its inception in 2017, DYdX (a decentralized exchange based on Ethereum) has opted to migrate to Cosmos, a new blockchain platform launched in 2018.
When it comes to the Cosmos ecosystem vs. its central Hub, there is a lot at play.
Everyone wants to leverage the technology behind it, including Tendermint, a software and a business in its own right.
And how does the ATOM crypto fit into the “internet of blockchains”?
To get a better grasp of Cosmos, keep reading:
Developers are flocking to Cosmos SDK and Tendermint because of their better tech offerings.
It’s now possible to program without starting from the ground up or relying on a third blockchain. party’s
There is an Inter-Blockchain Communication (IBC) protocol for your project to communicate with other applications.
If you use “bridges” between chains, leave them out.)
Cosmos Hub uses the native ATOM crypto to verify network transactions, which members of the network stake.
For a more accurate analogy, consider an airport or a port city instead of Cosmos Hub’s self-described role as a “router” for the “internet of blockchains.”
Ultimately, you’re establishing a new, independent blockchain in the Cosmos ecosystem, not “on” Cosmos. (This can communicate with all of the other little chains.)
Then, when a company like DYdX decides to forgo Ethereum in favor of its own (although smaller) blockchain.
Isn’t it more vulnerable to a bad actor taking over, stealing crypto, and wreaking havoc?
In May, the ecosystem’s security was tested when Terra LUNA, the system’s most notorious member, went down.
Good news: The Cosmos Hub and other interconnected systems are unaffected by Terra’s demise. “Sovereign Cosmos chains are separate from one other – each has its own validator set and political and economic security,” explains the Hub.
There was “minimal risk exposure” to Terra’s financial plans in the Cosmos Hub. Relayers and validators continued to execute IBC transfers while the network transactions continued to be validated.
Tech stood up during this major crisis, Buchman says.
A significant improvement is in the works, with a target release date of the third quarter of 2019.
Introducing Interchain Security, it’s dubbed “Lambda” because of its “huge” new functionality.
During an appearance on Untold Stories, Billy Rennekamp outlined Cosmos’ approach to shared security.
Node operators were required for all the new blockchains, as seen by their abundance.
They’re workers in the mines. In other words, they’re responsible for building the blocks.
The Cosmos Hub, the oldest and strongest validator set in any Cosmos chain, will create your blocks with Interchain Security.
To get started, create the application you want.
If you’re using Ethereum, you don’t have to worry about protecting your network similarly.
This will be secured for you by Cosmos Hub, which has one of the greatest market capitalization security chains in the Cosmos ecosystem.
Moreover, you still receive the benefits of the high-tech tools I mentioned previously.
Like Cardano ADA, these milestone innovations may put great purchasing pressure on the crypto price, regardless of whatever Twitter squabbles the creators may create.
As a result, Cosmos is the project that deserves your attention the most, yet most other people aren’t even aware of it.