In today’s time, cryptocurrency and blockchain technology is growing rapidly. However, a major problem has also come to light, that is the lack of communication in the middle of the blockchain network. COSMOS HUB (Atom) is a project that offers a solution to this problem. In this blog, we will tell you in detail about Cosmos Hub, which will help you understand its importance and way of working.
Cosmos hub What is atom
Cosmos Hub is presented as a project that solution some of the most difficult problems in the blockchain industry. Its main objective is “Slow, expansive, scalable and change the proof-of-worek protocols that damage the environment. COSMOS constructs a network that connects various blockchains and provides the ability to communicate them among themselves.
In addition, the purpose of Cosmos Hub is to simplify Blockchain Technology, making it easier for developers to use it. This also makes the process of creating a dysented application (DApps) by modular framework. In addition, various blockchain networks get the ability to communicate from each other through the Inter-Government Communication (IBC) Protocol. If you want to get complete information about Blockchain What are blockchain Read this blog.
Cosmos hub Start and history of
The history of COSMOS begins in 2014, when a company called Tendermint was established. Tendermint was an important contributor of this network. In 2016, a white paper of COSMOS was published and in 2017 its token sold. Atom tokens are earned through a hybrid proof-of-stake algorithms and these help to protect cosmos hub. Another important role of Atom Token is also in the governance of the network.
Cosmos hub Who is the founder of?
CO-founder of Cosmos’s founder tendermint was Jae Kwon, Zarko Milosevic and Ethan Buchman. Kwon resigned as CEO in 2020 and has now continued to work as the main architect in the project. Tendermint’s new CEO Peng is Zhong. Their purpose is to improve experience for developers, create an anthusiast community for COSMOS and make people aware of this network.
Cosmos hub How does it work?
Cosmos Network is divided into three main layers, let’s know how this work does.
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Application layer: It processes layer transactions and updates the situation in the network.
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Networking layer: This layer makes communication possible between various transactions and blockchain.
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Consensus layer: This helps the layer nodes to make consultations on the current status of the system.
COSMOS uses various open-source tools, which help to add these layers and make developers Dapps.
Cosmos hub Characteristics of
Interblockchain Communication: The biggest feature of cosmos is that it allows blockchain networks to communicate from each other, which can prevent spread in the industry. This function is seen as “Blockchain 3.0” of cosmos.
Modularity: COSMOS provides a modular framework for developers, which makes the new network easier using already existing code pieces. With this, hard applications can be made in a simple way.
Scalability: The purpose of cosmos is to handle more and more transactions, making it more capable than old blockchains such as bitcoin and ethereum.
Cosmos hub safety
COSMOS HUB is protected from proof-of-stake algorithms. In this, those validator nodes do more atom tokens stake, which gives them a chance to verify transaction and earn prize. If a node frauds, it is punished and may have to face the problem of losing stake tokens. If you Cosmos hub price If you want to know about the link given, click on the given link.
Cosmos hub and zones
The cosmos hub was the first blockchain installed on the Cosmos Network. It acts as a mediator between all other blockchains (called “zones”) of Cosmos Network. Cosmos Hub has a native token atom. COSMOS HUB’s validators maintain a consent among the zones and they get fees in return.
Conclusion
COSMOS (ATOM) can bring a revolution to the world of blockchain technology. This provides the ability to connect blockchain networks to each other, causing solution of traditional blockchain problems. COSMOS aims to promote scalability, simplicity and unity, so that the use of cryptocurrency and blockchain technology can be more simplified for users. The future of COSMOS looks bright and it can create an important place in the blockchain industry.
