It solves the problem of creating a blockchain from scratch by combining the networking and consensus layers into an engine. The first layer is called Tendermint BFT (Byzantine Fault Tolerant). Therefore, it tries to solve the problem through the IBC protocol that functions as a messaging network for blockchains.The Cosmos network is made up of two key layers. The Cosmos (ATOM) platform understands that the lack of interoperability is an issue that blockchains face today. Furthermore, the Tendermint BFT uses the Application Blockchain Interface to link to applications. The extensive network of computers that operates Cosmos also utilizes this essential algorithm to secure the entire system and verify transactions. With it, developers can comfortably create blockchains without necessarily building them from scratch. This is indisputably the most critical aspect of the Cosmos network’s layered design. The Consensus layer, which is the last layer, allows nodes to agree on the Cosmos ecosystem’s current state. Its primary role is to enable blockchains to communicate. The second one is known as the Networking layer. The first one is the Application layer tasked with processing the network’s transactions and updating its state. The Cosmos ecosystem comes with three layers, and it depends on them to maintain cohesiveness within the blockchain industry. Issue/distribute new tokens within their specific networks.These blockchains within the ATOM network also have the power to do the following things: This enables the networks to execute the necessary transactions to finish their assigned tasks. In addition, the network keeps track of all the blockchains or zones within the ecosystem.įundamentally, zones are designed to be independent. To promote interoperability between different blockchains, Cosmos leverages a plethora of proprietary, open-source tools. Users can also use the token for staking, sending, spending, and holding. It sees to it that there is interoperability between all the network’s zones. Today, ATOM is a precious token, especially for the Cosmos network. Less than four months after the GoS release, Cosmos launched its official mainnet. It was also the first creation of its kind, boasting incentivized adversarial conditions, various slashing penalties, and 195 validators distributed worldwide. Intriguingly, it only took 28 minutes to do that! It is crucial to note that the Interchain Foundation (ICF) played a vital role in the launch and development of ATOM since it’s the one that held the two-week fundraising.ĭecember 2018 saw the Cosmos network released the Game of Stakes (GoS), the platform’s first incentivized testnet. In 2017, the network raised more than $17 million during the ATOM token’s initial coin offering (ICO). That was back when Kwon developed Tendermint. The Cosmos network was founded in 2014 by two of the most talented developers today: Ethan Buchman and Jae Kwon. The latter is a project abandoned by its developers back in 2018, and it is entirely different from the Cosmos network’s ATOM.Īre you ready to learn more about ATOM? Let’s set to it. If you have just be introduced to the world of cryptocurrencies or blockchain protocols, you might confuse ATOM with the Atomic Coin (ATOM). One of its major roles is to aid scaling, interoperation, and communication between various independent chains. Vital Details Regarding This Cryptocurrencyĭesigned to solve some of the most challenging blockchain problems today, Cosmos (ATOM) is the Cosmos network’s native cryptocurrency.
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