Cosmos Ecosystem
Cosmos is a decentralized network of independent blockchains that aims to create an "Internet of Blockchains." It is designed to facilitate the interoperability of multiple blockchain networks, allowing them to communicate with each other in a seamless, scalable, and efficient manner. This page provides a table listing projects within the Cosmos ecosystem, including project names, descriptions, and interest levels as calculated by the CryptoTotem algorithm. Learn more ↓
What is Cosmos network
Cosmos is an entire environment with a decentralized infrastructure where blockchains interact with each other in parallel.
Cosmos Network promotes the concept of the “Internet of Blockchains” by creating an entire network of blockchains where participants interact with each other, according to decentralized principles.
The Cosmos ecosystem started in 2017 and raised $17.3 million in ETH and BTC during its first ICO. A little earlier, in 2014, the project Tendermint Inc and its Whitepaper emerged under the leadership of Jae Kwon.
In 2016, thanks to funding raised, several other developers joined Tendermint. Then team started the first Basecoin framework for cryptocurrencies based on Golang language. Then came the first iteration of Cosmos Hub.
Cosmos core team
Jae Kwon is credited as the creator of Cosmos, but co-founders include:
- All In Bits Inc
- Interchain Foundation
- IRIS Foundation Limited
Investors and partners
- Paradigm
- 1confirmation
- IOSG Ventures
- Pantera Capital
- DragonFly Capital
- Polychain Capital
- HashKey Capital
How does Cosmos work
To put it factually, The Cosmos is the first blockchain based on protocols, truly advanced technologies such as Tendermint Core, and backed by the BFT (Byzantine Fault Tolerant) algorithm, which endows the ecosystem with the property of scalability.
Thanks to the universal language of the IBC (Inter Blockchain Communication) protocol there is interaction of blockchains with each other in Cosmos.
Notably, Cosmos has two types of blockchains:
- Hubs, which link blockchains together.
- Zones, which include blockchains with fast transaction finalization.
Cosmos ecosystem open up a unique opportunity for developers to create chains that are interoperable with other blockchains. For this purpose, the ecosystem has implemented the entire Cosmos SDK. In addition, the ecosystem implements an entire library for creating Cosmos-based smart contracts, CosmWasm.
Since its existence, the Cosmos ecosystem has attracted more than 250 projects, including Celestia, dYdX, Metamask, Akash Network, Keplr, Injective and others.
Key benefits of Cosmos blockchain
- Modular architecture with readily available tooling
- Interoperability
- Cross-chain functionality
- High scalability thanks to Tendermint
- Transactions reliability and security
ATOM token
ATOM is a proprietary token in Cosmos that is used to pay fees, votes for proposals that affect the development of the Cosmos network and distribute rewards for users, validators and delegates. Cosmos used PoS, so the ATOM is used in staking, among other things.
Conclusion
We can definitely say that Cosmos introduces an innovative ecosystem that is highly visible in crypto space and in demand among developers. Though the Cosmos blockchain is developing not so fast, it is developing thoroughly. And the project’s extensive range of tools forces competitors to take Cosmos Hub into consideration, while investors are closely following its development.