With its extensive ecosystem of interconnected applications
and services targeted towards a decentralized future.
Cosmos or Atom positions itself as the Internet of Blockchains
as the number of decentralized applications
or DApps in services on the platform has crossed 260.
While the volume of digital assets under management has surpassed $150
billion, the Cosmos IBC, or the Inter Blockchain Communication Protocol,
allows its apps and services to seamlessly connect.
As a result, users can freely exchange assets and data across
several decentralized blockchains.
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So what is the Cosmos Network?
Cosmos is a Layer Zero blockchain, which means that it does the groundwork
for the Layer One blockchains,
and it's made up of a decentralized network of independent blockchains
that are interoperable through the entire blockchain communication or IBC protocol
take take finance chain.
Not to be confused with the EVM compatible B and B smart chain.
Cosmos is the underlying blockchain over which Binance Chain is built.
Any blockchain network built on Cosmos can interact with each other, thus
allowing for cross chain into lovability.
This is powered by the Tendermint Core consensus
engine DApps are not deployed on the Cosmos network directly,
but on the independent blockchains on Cosmos.
Hence the terms applications. specifics Blockchains.
The Cosmos Network hosts
many sovereign blockchain networks all of which are scalable and can interact
with each other with the notable ones being Binance Chain or BMB,
Terra Luna Crypto.org chain or COR so What is the Cosmos Hub?
Well, the Cosmos network consists of two types of blockchains, hubs and zones.
Zones are the previously mentioned applications
Specific Blockchain and each zone is a spoke connected to hubs.
Zunes are the previously mentioned applications.
Specific Blockchain.
Each zone is a spoke connected to hubs.
Hubs can be connected to other hubs, thereby forming the Cosmos Network,
the first blockchain deployed on the network.
The Cosmos Hub is a proof of state blockchain secured and governed
by Atom holders.
Atom is the native token of the Cosmos hub.
Atom incentivizes the efforts of securing the Cosmos hub.
Cosmos validators who stake their atom tokens to secure the network receive
a part of the transaction fees and staking rewards in exchange.
And there's every reason to anticipate a significant increase in rewards
as the network keeps adding services such as the interchange,
decentralized exchange, or Dex and interchange staking.
So let's talk about the tokenomics of Atom Interchange Foundation
raise funds through both fundraisers and in ICO.
Initially it had conducted a fundraiser to raise funds, and its expected
date was supposed to be February 28th, 2017,
but it was pushed back without announcing any new dates.
Then the Cosmos team announced that the fundraiser would take place on March
31st 2017 with an announcement later, but it was again
delayed and pushed back to April six of 2017.
As for the ICO it took place in 2017
and the Interchange Foundation raised $17 million through it.
The tokenomics are as follows Interchange Foundation allocated 5%
of atom supply to initial contributors of the fundraiser.
Then 10% of atom supply went to Tendermint Inc, which is responsible
for most of the Software Development, Work and Interchange Foundation.
Was allocated
10% of the supply and the distribution for the rest of the remaining atom tokens.
75% was dependent on the success of the fundraisers.
The current supply of atom tokens is 286 million.
And as for its maximum supply, there is no ceiling to it.
It's because the number of new atom tokens created depends on the atom tokens
being state and the atom token has an estimated seven to 20%
inflation annually in the vesting period for investors is fully completed.
So what is the Cosmos software development kit or SDK?
The Cosmos SDK helps build blockchain applications in three easy steps.
First, you need to write your custom blockchain
with a mix of pre-built models and custom models.
The next step involves testing your MVP with users who will collect it, iterate
on feedback and subsequently launch on their public mindset.
Finally, the users can connected with other Cosmos blockchains,
leveraging the core interconnectivity property of the network.
It helps increase the adaptability
and liquidity of any blockchain by linking it to the Cosmos network.
Via the IBC app.
The Tendermint Core Blockchain Building Framework built on the Tendermint core.
The Cosmos SDK helps build blockchains with a 99% lower carbon footprint.
Moreover, it facilitates operations at a nominal cost only around 1%.
Actually, to be precise, the transaction confirmation happens in 7 seconds.
One of the most advanced models of the Cosmos SDK AWS, is an implementation
that helps grant arbitrary privileges from one account to another.
The stake authorization gained with AWS facilitates
authorizing another account to delegate on delegate
or re delegate to validators and approves helpful in preventing DOS attacks.
The Rest
server of Cosmos helps receive the root HTTP requests in the application itself.
The SDK comes with its REST server by default.
It makes interacting with the mode easier as there are multiple ways to leverage
a node using the CLIA, the gRPC API or the REST endpoints.
Another product developed by Tendermint would help unleash the potential
of Cosmos, further integrated with the gravity DEX Protocol.
MERS will enhance the UX and adaptability of Cosmos by a significant margin.
The Blockchain Agnostic Emirates helps users with a non-custodial dashboard
steer through the vast world of cross chain define expanding beyond
anyone's network and proving useful for all crypto applications.
So let's talk about the vision of the Cosmos network.
Cosmos wants to evolve as a full fledged free platform
that can break silos and monopolies in the decentralized space
and promote collaboration, innovation and competition.
The reason why positions itself as the Internet of Blockchains is that it
helps exchange, store and secure value in a decentralized
peer to peer mode, rather than relying solely on centralized servers.
It empowers a diverse set of stakeholders, including developers,
organizations, social networks, marketplaces, games and more.
The developers for instance, can build fully autonomous application specific
blockchains, which could be conveniently interconnected.
A dependent existence
as smart contracts on some different chain is not a compulsion anymore, resulting
in reduced transaction fees in network congestion and improved scalability.
Communities get the power to organize and allocate resources seamlessly
and with the utmost transparency standing against the regimes of filtered
and censored content.
Cosmos helps communities build autonomous social networks
wherever user has their say and can create value.
Cosmos allows building cost effective and efficient exchanges
and marketplaces that help build permissionless global trade.
Finally, for a companies in gaming in related development,
Cosmos is an ideal provision for creating unique collectibles
and character upgrades that the developers can monetize.
They don't need to depend on third parties or app stores.
So let's talk about the Atom Wallet and its compatibility.
More than 35 wallets support the Cosmos Network and its token across ecosystems.
Among hot wallets there are a token citadel, one Cosmos
station wallet and more.
The Atomic Wallet,
HUOBY wallet and Hyper pay are among some of the compatible iOS wallets
some of the compatible Android wallets include Guarda Trust, Wallet, and more.
So let's talk about Keplr wallet.
Keplr Wallet is the most popular
and the first ever IVC enabled Cosmos focused wallet.
It is amassed over a hundred thousand users, and its features include asset
management, staking and rewards DAPS Governance, Security, and IBC transfers.
The completely noncustodial Kepler wallet is available in both Android and iOS.
Besides, it also supports the popular
hardware wallet Ledger Nano, which adds a further layer of security.
So let's talk about staking in some of the yields
that you could actually have with Atom.
The typical annual percentage yield or API of staked out
is around 14.2%, although after accounting for inflation,
rewards are around 4.2% and the commission is typically 10.28%.
Although it varies between validators, let's talk about the usability of Cosmos.
The usability of cosmos is wide ranging in diverse projects can leverage
the network in ways more than one.
One can use it to expand the economy of one's chain by connecting it
to the Cosmos Hub services through the IBC protocol.
Developers can also use the protocol to earn support in bringing more users
with services such as exchanges, wallets and more individuals can also choose
to become validators in the network, helping to secure the blockchain.
So let's talk about the ecosystem of Cosmos today.
The Cosmos ecosystem accounts
for over $153 billion worth of digital assets under management.
Most of the apps and projects IT hosts are from finance and infrastructure.
Besides these, it also hosts privacy, marketplace, social impact,
games, microservice, smart contracts, enterprise apps, projects and more.
Some of the most popular projects within the Cosmos ecosystem include
Osmosis, Terra, Crypto.org chain,
Juno Network, Secret Network and Gravity Bridge Osmosis or.
Osmo is the first IBC native Cosmos interchain automated market maker
or AMM that makes cross chain trading possible within the Cosmos chain.
All user needs to do on the osmosis zone is pull their tokens in trade
against the liquidity of other token pools, and over $1.6 billion is logged on.
The Osmosis Protocol
The Terra Blockchain powers a suite of fiat paid algorithmic tokens
that aims to supercharge the DeFi ecosystem, and it takes it to the masses.
Besides, it also aims to tackle
the infamous volatility commonly associated with cryptocurrencies,
and its most prominent stable coin is Terra USD or USD.
Now let's talk about the Crypto.org chain in the driving adoption
of blockchain technology
through DeFi payments in and NFTs Crypto.org has conceptualized a tournament
based open source public blockchain that offers both high speed and low fees.
Juno Network enables developers to create interoperate smart contracts
that execute automatically if preset conditions are met.
Besides, it also has a cross chain smart contract execution compatibility
as it is built on top of the Cosmos network.
At the time of writing, 50 plus daps in $2,000 have been built on the Juno
network.
Let's talk about the Secret Network built using Cosmos SDK.
Secret Network provides smart contract development and privacy oriented features
by default
due to its unique mix of features, Secret Network opens new avenues for the Web
three space.
What Secret Network does is that it makes computation unencrypted data possible,
thus adding one more layer of privacy to public blockchains and smart contracts.
Now let's talk about the Gravity Bridge.
Gravity Bridge has connected the Ethereum ecosystem with the Cosmos
ecosystem, which has added one more brick to Cosmos, the Internet of Blockchains.
With this, all SDK chains within the Cosmos ecosystem can now
participate in Ethereum DAPs and also utilize Ethereum based tokens as well.
Let's talk about Cosmos airdrops.
There's an interesting aspect of Cosmos as there are airdrops
on almost a daily basis within this large ecosystem.
To become eligible for airdrops, users can either stake tokens
or provide liquidity.
The top tokens to stake or provide liquidity to become eligible for airdrops
are Juno. Atom Osmos, and CRT.
A user must ensure to stake a minimal amount of tokens, otherwise
they may be excluded from the list of eligible users for the airdrop.
And there are two types of airdrops the first type of airdrop.
The protocol doesn't differentiate
between users on the basis of the number of tokens staked,
but there is a minimum amount of tokens to be eligible for the airdrop.
The second type of airdrop rewards users based on the number of tokens staked
and also requires users to meet the minimum deposit requirements.
The minimum amount of stake varies.
By the token, let's talk about the future of Cosmos.
The Cosmos network is growing and you can interact with the ecosystem
in more than one way.
For instance, you can ask a question in chat with the global Cosmos community
on Instagram.
The Cosmos Twitter handle has a huge follower base of more than 370,000,
and developers can solve their technical queries
by discussing in the developer chat on the community discord.
Finally, there's always the chance to become a validator.
The Cosmos Network also helps
the contributors assemble and become a patron or cosmonaut.
It projects going to apply for micro grants
to build their products, host events, or even create media content.
Building products can be a full fledged integration
or even as basic as translating vital documents and creating tutorials.
Hosting an event
can go from being something as elementary as hosting a meetup or workshop
to hosting conferences or hackathons to create a virtual reality world in itself.
In the days to come, the Cosmos, Energy and accounts would be introduced
as a single, secure account for all the users digital assets.
The Dex facility of Cosmos would not only help swap tokens,
but collectibles to the liquidity pools once and devise liquidity providers
with rewards
and with the aforementioned Gravity Bridge bringing Ethereum dabs into the Cosmos
Ecosystems implementations with the Near Protocol Ecosystem and Layer
Zero, the DEX facility of Cosmos would not only help swap tokens,
but collectibles to the liquidity pools will incentivize liquidity providers
with rewards
and with the aforementioned Gravity Bridge bringing Ethereum taps into the Cosmos
Ecosystems implementations with the Near Protocol Ecosystem and Layer
Zero, bringing IBC to every other chain throughout Stargate
and its transport layer you should expect more adoption of Cosmos IBC.
All in all, Cosmos helps prepare the blockchain space for its future
implications in the areas of DeFi and NFTs gaming autonomous
organizations, social networks and marketplaces and more.
It frees users from the complexities of 1 million blockchain apps competing
for throughput on a single base layer by introducing 1 million
blockchain apps interconnected across 1 million sovereign blockchains.
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