Cosmos (ATOM)

Cosmos is a decentralized network of independent parallel blockchains, each with its independent consensus, connected through the Cosmos Hub, a central blockchain that allows them to function interoperably. The Cosmos Network is a decentralized ecosystem of blockchains that can interact with each other through the Cosmos Hub, which serves as a hub for communication between different blockchains. The main goal of Cosmos is to enable interoperability between different blockchains, so they can communicate and exchange data and assets with each other.

The Cosmos Network uses a proof-of-stake (PoS) consensus algorithm, which means that block validation is performed by a group of validators who stake their tokens as collateral to be eligible to participate in the validation process. The Cosmos Hub uses a variant of PoS called Tendermint, which allows for fast and secure block confirmation times.

The native token of the Cosmos Network is ATOM, which serves as a means of exchange and a tool for governance within the network. ATOM holders can participate in the governance of the Cosmos Network by voting on proposals that affect the direction and development of the network.

In addition to the Cosmos Hub, the Cosmos Network also includes several other independent blockchains, called “zones,” which are connected to the Cosmos Hub through the Inter-Blockchain Communication (IBC) protocol. These zones can be used to build decentralized applications (DApps) and perform other functions within the Cosmos ecosystem.

The Cosmos Network was founded by the Interchain Foundation (ICF), a non-profit organization based in Switzerland. The ICF is responsible for the development and maintenance of the Cosmos Network, as well as the promotion of research and development in the field of decentralized technologies. A team of experienced professionals in blockchain technology, cryptography, and software engineering leads the ICF.

In summary, Cosmos is a decentralized network of independent parallel blockchains that allows for interoperability between different blockchains and enables the creation of decentralized applications and services. Its native token, ATOM, serves as a means of exchange and a network governance tool. It is used to participate in the decision-making process that affects the direction and development of the Cosmos Network.

Read all about Cosmos in our Cosmos flagship outpost.