The growth cosmos ecosystem is experiencing at this moment reveal a huge future attachment to this ecosystem. The discovery of Persistence one some few months ago drew my attention to the cosmos ecosystem and since then, this has opened multiple Opportunities lockup in the cosmos ecosystem.
A close look at Cøsmos blockchain, it's an amazing network that set to pull all the other blockchains together in its blockchain interoperability platform and since the launch of IBC (Inter-Blockchain Communication Protocol), the progress has been amazing.
Let's have a look at Cøsmos basics!
Cøsmos is known as the internet of Blockchain and belief to be the most customizable, scalable, powerful and interoperable ecosystem of connected blockchains. Its decentralized network is powered by Tendermint and other Byzantine Fault Tolerant algorithms which allows it allows its blockchain to achieve consensus even in an environment that potentially contains malicious nodes.
The birth of its hub on its blockchain start connecting other zones in the network and it has over 100 hubs on its blockchain. When considering its consensus, Cosmos uses delegated Proof of Stake (DPoS) which organize the stakers into groups of validators and groups of delegators. The working principle of the system gives power to delegators to decide which validators will participate in consensus and the validators work to validate transactions and add new blocks to the blockchain.
Unique Feature About Cøsmos
Two important features make Cøsmos unique.
- Solving scalability
- Solving usability limitations in blockchain technology.
The greatest issue among the blockchains over the past few years is scalability and the implementation of solutions to tackle this is yet allowed many to get anywhere near the scale they still need to accommodate mainstream adoption rates.
When checking through some blockchains, there is a lack of flexibility in application creation which reduces developers and user limitation to usage. With Cøsmos, the is solution through the use of the Go programming language and a multi-layer structure.
List of some Cøsmos Ecosystem
The solution provided by Cøsmos makes the network attract partners to its ecosystem. So far, I've interacted with about 5 projects under the Cøsmos ecosystem and there is a huge number of projects already developing on top of the Cosmos technology and part of its ecosystem. Let's have a feel of some of them:
This is a protocol that enabled exposure to multiple asset classes. This project focuses on liquidity staking, NFTs & synthetic. This is my first project on the Cøsmos ecosystem based on engagement, interaction with the network and getting value and passive returns on my investment. Persistence has three major products which are pStake Finance Liquidity Staking, Comdex Synthetic Trading Platform, and AuditOne Staking-As-A-Service and AssetMantle Inter-change NFT Marketplace. The major purpose of Persistence on Cosmos network is to build an ecosystem of multi-chain Web3 products for both retail and institutional users.
Osmosis is an automated market maker (AMM) protocol built for liquidity providers. As of the time of writing this article, Osmosis has liquidity of $615,962,747 with $28,165,893 volume. It also has 20 tokens listed on the App with $OSMO being the utility token of the App topping the token listing based on liquidity and volume followed by $ATOM, $AKT, $DVPN, $JUNO, $XPRT, and so on. Check out the App and enjoy over 200% APR on your staked LP
This is a token emitting platform of the decentralized Binance Launchpad project. This is built on the Cøsmos ecosystem by use of a forked version of Tendermint and the Cøsmos SDK, as well as Cosmos SDK features such as bank which is used for basic token transactions.
This is a blockchain that serves as the backbone to empower the development of user-centric social networks. as different projects emerge with different blockchains, developers are to set up their profile on each project they are working on before using the network, but via Desmos a decentralized social identity for the interchain across different block explorers, wallets, as well as Desmos specific social networking dapps with customized tokenomics powered by CosmWASM smart contracts, Desmos profile become a common reference of a user profile. That sound interesting. Check the website for more detail. Desmos Network
With these three features Censorship-resistant, permissionless, and self-sovereign Akash Network reveals itself as the world’s first open-source cloud which brings serverless computing to Cosmos that functions as a peer-to-peer supercloud for serverless computing. This provides developers with an open, secure, permissionless marketplace for unused compute cycles. This solution is set to reduce cloud computing resources by about 90% if compared to services such as Microsoft Azure, AWS, and Google Cloud.
There’s a more complete list of over 100 projects building on top of the Cøsmos Network and Tendermint technology, check out some of them Here.
On Nov 5, 2021, Cøsmos hosted the stakeholders, Cøsmos enthusiasts, and developers in Libson as they experience an event known as Cosmosverse Conference.
As Cosmonauts revealed,
This event is 100% from the community to the community, and we are proud to have our Cøsmos Hub Community Pool as the main sponsor!
A readthrough of day 1 of the event documented by ZHIYUAN SUN one of the writers on Cointelegraph can tell how huge the event was and the huge effect Cøsmos Network had on blockchain technology.
In conclusion, $ATOM has been the utility token of Cøsmos ranked 24 on coingecko and since the launch of Cøsmos mainnet so many projects enacted by Cøsmos. Interaction with the Cøsmos ecosystem has brought in multiple benefits, like pStake Airdrop, Comdex Airdrop, Desmos Airdrop, these can only be claimed if you are a holder or stake on Cosmos Network. There are still more benefits attached to this great network as it's known as the internet of blockchain, take your time to check the ecosystem and do ask questions for direction, if you think the space is not clear to you.
Disclaimer: I am not a financial advisor, see this as a step for you to do your research.
Posted Using LeoFinance Beta
cosmos ecosytem has been doing abruptly well and together with all other ecosystems within it.
It has huge use-case and it's an ecosystem to interact with
I am hoping there is eventually some connection between Hive and Cosmos.
Posted Using LeoFinance Beta
You can have a look at Cøsmos Ecosystem and if you have question on it, you can drop them and lets check them out together.
I have been watching Cosmos because the Crypto.org CRO coin is based on Cosmos. Once Cosmos is fully built, it will be easy to swap between blockchains. However, I haven't read any posts by Hive developers about connecting to Cosmos.
Your article about persistence got me into cosmos and I will be looking at other project under its ecosystem for more interaction. Thank you for sharing.
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
Yay! 🤗
Your content has been boosted with Ecency Points
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for Proposal
Delegate HP and earn more, by @samest.