- Enables blockchains to transfer the value with each other through IBC and Peg-zones while letting them hold their freedom
- It was designed to be an ecosystem of exchange but at the same time to be autonomous.
- Cosmos allows the developers to build a new chain at any time and then launch it according to their wish.
An Atom with Sovereignty
Cosmos or Atom is an internet of blockchains as the number of decentralized applications services have crossed 260 over the platform. Whereas the volume of digital assets under management has been suppressed $150 million. These are also known as open sources managed operating systems.
Cosmos is an independent parallel blockchain. It was developed to facilitate communication among the distributed ledger without the interference of a centralized server. In 2016 white paper on Cosmos was published.
The Inter Blockchain communication protocol allows its applications and services to connect seamlessly. It results in the free exchange of data and assets across different decentralized blockchains.
It is a layer Zero blockchain and it does the groundwork for layer one blockchain and is made up of a decentralized network of independent blockchains. They are hard to build and can handle some amount of transactions per second.
How does the cosmos work ?
Cosmos have an ever expanding ecosystem of applications and services interconnected. Its networking facilitates communication between zones and hubs whereas Census Mechanism has proof of stake which executes the authentication of transactions.
Instead of sending the bitcoins to the different platforms it makes it lock it in a functional blockchain which provides the service. It offers an open source tool that allows the developers to help to build decentralized and free blockchain applications that can be termed ad zones. The zones are cosmos smart contracts.
It offers common functions within blockchain and lesser the complexity. In order to built the zones faster, simpler and cheapers. It provides the Software Development Kit to the developers.
The Cosmos Ecosystem
Has managed a stable ecosystem, rounds arounds the Cosmos Hub and gets charged by its Native Atom token. In order to gain the reward users can stake in the cosmos Hub.it host around 265 applications that worth around $65 billion of digital assets.
In future it wishes to expand its ecosystem and collaborate with Myrids of interconnected chains. And use the applications until it develops it own internet of blockchain. Its current price lies at $10.56.whereas it has the social dominance of around 9.99 thousands. It also have the social dominance of 0.05010% within the week.
