Cosmos was well known as one of the few non-Ethereum chains in 2018 with strong ethos, solid builders, and a real community. Cosmos Network has the technology to power several blockchains. It is not just a blockchain, but it focuses on inter-connecting blockchains, which makes use of Inter-Blockchain communication. The IBC makes it easy for the network to pass tokens and data between each other. Cosmos is the internet of blockchains.
ROI up to +14% via ATOM Staking is an attention grabber for investors.
It just looks like ATOM the transaction token between HUBs and Zones in the Cosmos HUB is expected to explode with growth sooner in 2022. The token is expected to add value to both inside and outside the ecosystem. While the interoperability factor looks simple it takes lot of internal work in the network.
Cosmos Network is capturing the bulk of bankless activity with their network of sidechains and interlinked yet independent appchains.
The Network provides the framework for building custom-tailored independent blockchains, which are inter-operable with all other Cosmos-powered blockchains. Further, the Dapps do not directly deploy onto Cosmos like on an L1; however, they deploy as “appchains” which are application-specific blockchains deployed via the Cosmos framework. The appchains follow the Tendermint Core Consensus Engine.
The Cosmos HUB is the first blockchain that was deployed on the Cosmos Network. HUB and Zones are the two kinds of blockchains. Zone works like a shard chain and the HUB interconnects Zones. HUB is PoS governed by ATOM token holders. Thus, Cosmos Network is like L0 and the Cosmos HUB like the L1.
Cosmos Hub is not compatible with EVM. Cosmos Hub Wallets are not easy to add to network like the MetaMask. Some Cosmos Hub-compatible crypto wallets are Atomic Wallet (Desktop), Cosmostation (mobile), crypto.com (mobile), Keplr (Browser), and Ledger (hardware).
Bridging, swapping, and providing liquidity around Cosmos ecosystem blockchains is achieved by making use of Emeris, a streamlined portal. Users can stake ATOM to help secure Cosmos Hub and earn inflationary ATOM rewards. Important to note that unstaking will take 21 days – so not to stake funds needed in the immediate run.
Top Cosmos DEX are Osmosis, Sifchain, Junoswap. Some noteworthy, Cosmos projects – Akash(P2P Cloud computing marketplace), Evmos (EVM compatible Cosmos Chain), Shade Protocol (Privacy-Preserving apps built with Secret Network) , Sommelier Finance (co-processor for Ethereum Defi), Umee (Decentralized lending market).
Innovations like Gravity Bridge are underway bringing Ethereum to Cosmos and Vice-versa – creating potential for L2 activity.
The ecosystem is dynamic and growing and worth exploring.
Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9
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