Let us learn what is cosmos and how is it different from the other blockchain projects.
COSMOS (The Internet Of Blockchain) is basically an ecosystem of blockchain that are both scalable and interoperable with each other. Before Cosmos, blockchains were isolated and not communicable with each other, Also they were hard to build and could handle only a small amount of transactions per second.
Cosmos aims to solve these problems with a new technological vision.
Speaking in scientific terms, Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.
Cosmos thrives to make it easy for developers to build things on the blockchain by breaking the barriers between the blockchain which allows them to transact with each other. Their ultimate goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way.
They use a set of tools to achieve their vision and goals which are :
Tendermint BFT (Blockchain Engine)
Tendermint BFT is a solution that packages the networking and consensus layer of a blockchain into a generic engine, allowing developers to focus on application development as opposed to the complex underlying protocol. As a result, Tendermint saves hundreds of hours of development time.
The Tendermint BFT is also fast and open source.
The Tendermint BFT engine is connected to the application by a socket protocol called the Application Blockchain Interface (ABCI). This protocol can be wrapped in any programming language, making it possible for developers to choose a language that fits their needs.
The Cosmos SDK is a generalized framework that simplifies the process of building secure blockchain applications on top of Tendermint BFT. It is based on two major principles that are :
Modularity: the goal of the Cosmos SDK is to create an ecosystem of modules that allows developers to easily spin up application-specific blockchains without having to code each bit of functionality of their application from scratch.
Capabilities-based security: Capabilities constrain the security boundaries between modules, enabling developers to better reason about the composability of modules and limit the scope of malicious or unexpected interactions. For a deeper look at capabilities click here.
Build your blockchain applications using Cosmos in 3 steps :
Write your custom blockchain: Compose your blockchain application with a mix of prebuilt modules and your own custom modules.
Launch your brand-new blockchain: Test your MVP with users, collect & iterate on feedback, and then launch your public mainnet.
Connect to other Cosmos blockchain: Increase adoption and liquidity of your blockchain by connecting it via IBC to Cosmos Network.
Learn more by viewing the Cosmos SDK Docs and the Developer Portal.
It’s not over yet, there are still two more main features of the cosmos network yet to be understood, that are:
The Cosmos Hub
The Cosmos Token (ATOM)
The Cosmos Hub is the first of thousands of interconnected blockchains that will eventually comprise the Cosmos Network. The primary token of the Cosmos Hub is the ATOM, but the Hub will support many tokens in the future.
Cosmos Hub Explorers :
These block explorers allow you to search, view and analyze Cosmos Hub data—like blocks, transactions, validators, etc.
Atom token lets users contribute to the security and governance of the Cosmos Hub. users can delegate their atom tokes to one or more of the 100 validators on the Cosmos Hub blockchain to earn more ATOM through Proof-of-Stake. the proof of stake mechanism allows the ATOM token holders to vote with the tokens to influence the future of the Cosmos Hub through on-chain governance proposals.
Cosmos Hub Wallets:
Atomic Wallet – Android, Linux, macOS, WindowsCobo – Android, iOS
Cosmostation – Android, iOS
Huobi Wallet – Android, iOS
imToken – Android, iOS
Lunagram – Android, iOS
Lunie – Web
Math Wallet – Android, iOS, Web
Rainbow Wallet – Android, iOS
Qbao Wallet – Android, iOS
Trust Wallet Android, iOS
Wetez – Android, iOs
These are the lists of web and mobile wallets that users can use to store, transfer, and vote on the on-chain governance proposals.
note: These are community maintained wallets.