Cosmos Internet Of Blockchains

in #cosmos • 7 years ago

Building an Internet of Blockchains

Purpose
Cosmos is a project with an extremely ambitious mission: Their goal is to create a network of distributed ledgers that will solve long-standing problems in the cryptocurrency and blockchain communities.

Cosmos Hub
The first blockchain technology in the Cosmos network is the Cosmos hub. The Cosmos hub connects to zones via the novel IBC (inter-blockchain communication) protocol and keeps a record of the total number of tokens in each zone much like a ledger. Because all inter-zone token transfers go through the Cosmos hub, you can transfer tokens from one zone to another, quickly and securely, without the need for a liquid exchange or a trusted third party between zones, an amazing feat to say the least seems like a step up of BTS decentralized exchange.

Read Whitepaper

Cosmos entity

Cosmos the internet of blockchains is not just a single distributed ledger, and the Cosmos hub isn't a walled garden or the center of its universe — anyone can use this protocol to create their own hub to compete with Cosmos in a free market of blockchains

The only question is, what will you build on Cosmos?

For more information:

Cosmos project: https://cosmos.network/

#blockchain #cryptocurrency #altcoin #decentralized
7 years ago in #cosmos by
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     7 years ago 

    Very interesting
    Thanks for sharing

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     7 years ago 

    Interesting.. upvoted and resteemed .. :)

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       7 years ago 

      @minnowpond1 has voted on behalf of @minnowpond. If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.

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         7 years ago 

        How is this similar or different from ark?

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           7 years ago 

          It seems they are trying to accomplish the same thing as for ark though they are a few steps ahead.

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             7 years ago 

            O wow I thought ark was the only one currently working on this thanks for sharing.

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               7 years ago 

              Thanks for sharing @zeartul 👍

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                 7 years ago 

                Wow, talk about timing!

                I've been looking for the best ways to trade between blockchains... @kingscrown has an article somewhere on Steemit that talks about buying LTC with BTC, then sending the LTC to the desired exchange, then buying BTC back.

                I would want to know more about that Tendermint middleware, it seems to be a pretty important part of the process and the most likely element to be vulnerable if attacked.

                Regardless, if something like this can become a reality, it would be a huge step toward the general acceptance of all cryptocurrency. You've got me pretty excited with this! Followed and upvoted, for sure.

                Keep up
                @aTone

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                   6 years ago 

                  Good read! Thanks

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