Cosmos Blockchain
= blockchain network
URL = https://cosmos.network/
Description
"Cosmos is one of the most known blockchain networks. Launched in 2017, its goal since its inception has been that of connecting blockchains among each other, allowing them to communicate and exchange information with the grand vision of creating an “Internet of Blockchains”. It now counts a global ecosystem of over 250 services built and run via its protocol, through which 70 billions of dollars in digital assets are managed to date. Furthermore, Cosmos created a form of distributed governance via ATOM tokens, which allows individuals and communities to build and govern blockchains according to their needs.
Cosmos aims at minimizing its own role as an intermediary through small fees and radical interoperability by design. It’s funded and stewarded by the Interchain Foundation, a non profit contributing to a variety of foundational protocols in the blockchain space.
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The key feature of the Cosmos Blockchain is its attempt to provide a solution to one of the major challenges in the blockchain space: the lack of interoperability. Cosmos is specifically designed to enable different blockchains to communicate, share data, and transact with each other. By allowing for seamless communication and transaction between different blockchains, Cosmos enables a connected and efficient blockchain ecosystem. "
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Characteristics
The Inter-Blockchain Communication Protocol
CER:
"Inter-Blockchain Communication Protocol (IBC): This protocol connects various blockchains within the Cosmos ecosystem, allowing them to transfer assets or data. The architecture divides the blockchains into "Zones" (individual blockchains) and "Hubs" (blockchains specifically designed to connect the Zones). This structure helps manage the connections and interoperability among blockchains, with the Cosmos Hub (ATOM) being a central figure."
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Commons Orientation
CER:
"Managed by the Interchain Foundation—which also manages services such as Cosmos SDK, CosmWasm, CosmJS, IBC, and CometBFT—Cosmos is a paradigm of decentralized governance in blockchain technology. ...
By enabling different blockchains to work together seamlessly, Cosmos supports a more collaborative and less siloed blockchain ecosystem.
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Decentralization is a core aspect of the Cosmos ecosystem, profoundly influencing its structure and operations, and it is achieved through their unique consensus model and the fundamental architecture that supports multiple interconnected blockchains, each operating autonomously.
This model allows individual blockchains within the Cosmos network to maintain their own governance structures, consensus mechanisms, and economic policies while still interacting with the broader Cosmos ecosystem through the Inter-Blockchain Communication (IBC) protocol."
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Source
At present, this page is solely sourced from excerpts from CER.
The Commons Economy Roadmap explains why the Cosmos Project is important:
"Cosmos is on CER as its one of the biggest and most promising infrastructure in the context of moving internet and finance toward radical openness and interoperability on a global scale, with a well thought use of financial speculation to fund its development. It’s governed in a distributed way as few other blockchains of this size can claim, by a global community of different stakeholders united by the goal of achieving true decentralization: not one blockchain winning over the others, but a set of foundational protocols enabling individuals and communities worldwide to govern their Commons and connect with each other without banks, tech corporations and authoritarian governments in the middle."
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Status
CER:
"Cosmos has generated a huge economic impact, with a total value of 70 billion in its network. They enable different blockchain networks to transfer value and information seamlessly; this interoperability has been crucial for businesses and developers looking to leverage multiple blockchains, potentially reducing costs associated with blockchain silos and enhancing efficiencies through cross-chain applications.
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Cosmos operates in a competitive environment with other blockchain platforms like Ethereum. However, its unique focus on interoperability sets it apart and positions it as a complementary rather than a directly competing technology. In this sense, it borrows the digital platform model - understood as a multi-sided marketplace—but it aims at providing more decentralized services and decentralized governance.
However, it should be considered that while Cosmos has been designed from the outset to maximize interoperability, other blockchains like Ethereum are also moving in this direction. The trend in the blockchain industry is shifting towards interoperability, recognizing that no single blockchain is likely to dominate the entire market. This also means Cosmos might face competition from these blockchains as they enhance their interoperability features."
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