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Author: Admin | 2025-04-28
In this article, we discuss Cosmos, a blockchain ecosystem that aims to revolutionise how blockchains interact with one another.Key Takeaways:Cosmos is a blockchain ecosystem with a mission to establish the ‘Internet of Blockchains’ by enabling secure communication and interoperability amongst various blockchains.The Cosmos Network features 180 active validators and hosts over 249 interchain apps and services.Key components like Tendermint and the Cosmos SDK simplify networking, consensus, and application development, making it easier to create customised blockchain solutions.The ATOM token serves as the native cryptocurrency of the Cosmos Hub, the first Cosmos-based blockchain on the Cosmos Network.Its versatile utility includes paying transaction fees, staking for network security, and on-chain governance decisions.What Is Cosmos?The Cosmos Network is a collection of interconnected blockchain ecosystems linked through the Cosmos Hub. Its core mission is to serve as the ‘Internet of Blockchains’, fostering seamless and secure communication, data sharing, and transaction execution between different independent blockchains — all facilitated by the Cosmos Hub and secured by more than 180 validators. Its native token is ATOM.The ATOM token is used to pay transaction fees on the Cosmos Network, and staking ATOM contributes to the security of the network. ATOM holders can also vote on proposals presented by the Cosmos Hub.Over 249 interchain apps and services exist within the Cosmos ecosystem.How Does Cosmos Work?By design, Cosmos allows decentralised application (dapp) developers to build their own blockchains, which enables decentralisation and interoperability throughout the ecosystem.Tendermint: Tendermint is a set of ready-made developer tools in Cosmos composed of a consensus engine (Tendermint Core) and a generic application interface, known as Application BlockChain Interface (ABCI). These tools are used to implement networking and consensus layers, simplifying the development process and offering developers prebuilt engines for applications.Cosmos SDK: Cosmos SDK is a development framework that simplifies the process of creating blockchain applications, allowing developers to build custom blockchain solutions with greater ease and flexibility. Cosmos SDK is known for its modularity and emphasis on security, with networks like Cronos, a Layer-1 blockchain, utilising the Cosmos SDK framework.Inter-Blockchain Communication Protocol (IBC): IBC is a protocol that enables communication between different blockchains within the Cosmos ecosystem. It promotes interoperability and trustless connections between blockchains.Cosmos SDK and Use Cases in the Cryptocurrency IndustryCosmos SDK is used for building blockchain applications. Launching applications in Cosmos can be done in three steps:Creating a Custom Blockchain: Developers can customise their models or prebuilt models to build a blockchain.Launching a Custom Blockchain: Cosmos SDK accommodates different use cases when it comes to launching a custom blockchain. This includes applications for gaming, healthcare, prediction markets, cross-border payments, and real estate.Connecting to the Cosmos Network: After launching an application-specific blockchain, Cosmos SDK allows for the growth of a user base and an increase in liquidity by connecting to the Cosmos Network through the IBC, opening doors to over 100 IBC-enabled chains.How does Cronos utilise the Cosmos SDK framework?Cronos is an Ethereum Virtual Machine (EVM) chain built on the Cosmos SDK framework that allows the chain to enjoy the benefit of
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