Learn about the Cosmos ecology that is about to explode in 2022

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D-Tiger Research
3 years ago
This article is approximately 4890 words,and reading the entire article takes about 7 minutes
Cosmos is known as the Internet of Blockchains and is also considered to be version 3.0 of the Blockchain.

Learn about the Cosmos ecology that is about to explode in 2022

Foreword:

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Foreword:

Cosmos is known as the Internet of blockchains and is also considered to be the 3.0 version of the blockchain. It aims to solve the problems of blockchain interoperability and scalability. Its inter-blockchain communication protocol can realize blockchain Interconnection, supporting asset transfer between different blockchains. It aims to solve the interoperability and scalability problems of blockchain and improve transaction speed. In a way, become the Internet on the blockchain.

This report will discuss the Cosmos ecology starting from the macro cross-chain technology, and interpret the Cosmos white paper and economic model, and then combine the Cosmos team development, key projects in the ecology, and track competition to conduct a specific analysis of the Cosmos ecology.

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1. Research status of cross-chain technology

The interoperability between blockchains limits the application space of blockchains. Cross-chain technology is considered to be the key technology to realize the interoperability of ten thousand chains. It is a bridge for the expansion and connection of blockchains.

With the development of the blockchain industry, various public chains continue to emerge, but due to technical, ecological and some problems, most chains cannot be connected and interoperated, which makes the users data, assets, and applications fragmented, forming an island effect . In order to solve this problem, the industry has actively explored cross-chain technology.

1.1. The origin and development of cross-chain technology in the blockchain industry

Cross-chain is to allow value to cross different chains through technology, so that the value originally stored on a specific blockchain is converted into the value on another chain, thereby realizing the circulation of value. In essence, it is the same as currency exchange, instead of changing the value, it is just value exchange.

For a long period of time in the early days of the industry, blockchain technology was based on the development of a single chain. At that time, it was generally recognized that the performance optimization and technical upgrade of the blockchain can be completed on a single chain. Once the members of the chain cannot reach an agreement on the development direction of the project, it can only be solved by hard forking or redesigning a chain.

Until 2012, Ripple Labs proposed the Inter Ledger protocol to solve the coordination problem between different blockchain systems; in 2013, Herlihy proposed the atomic transfer (atomic transfer) scheme on the forum, which became a One main cross-chain mode, namely the hash lock mode.

Learn about the Cosmos ecology that is about to explode in 2022

In 2017, cross-chain projects Polkadot and Cosmos proposed a plan to build a cross-chain basic platform. The basic platform can be compatible with all blockchain applications. Currently, these two projects are still under development.

Figure 1-1 Blockchain cross-chain technology development map

Although cross-chain technology can promote the significant development of the existing blockchain ecology, cross-chain technology is still in the preliminary exploration stage, has not yet formed a stable system, there are uncertainties in technological development, and there are still many problems to be solved. The development of cross-chain technology is closely related to the application mode of cross-chain technology. With the gradual landing and continuous enrichment of blockchain industry applications, the demand for cross-chain will no longer be limited to transactions.

Advantage:1.2. Advantages and disadvantages of Cosmos cross-chain technology

Advantage:

1. Technological innovation:

Chain creation - Tendermint

Cosmos can effectively address the existing problems of Bitcoin and Ethereum, and Cosmos proposes targeted solutions.

Bitcoin: The code base is very monolithic. All three layers — network, consensus, and application — are mixed together. And the Bitcoin scripting language is limited and user-unfriendly.

Ethereum: By turning the application layer into the Ethereum Virtual Machine (EVM). The virtual machine is capable of processing smart contracts, and any developer can deploy smart contracts to the open system of the Ethereum blockchain to build decentralized applications (dApps). But it does not simplify the development of the blockchain itself. It also has the disadvantages of limited scalability, relatively low flexibility granted to developers, and limited sovereignty per application.

Therefore, Cosmos proposes Tendermint, which is a solution that packages the network and consensus layers of the blockchain into a common engine, allowing developers to focus on application development rather than complex underlying protocols, making it easy to get started.

While Tendermint is ready for public or private blockchains and proposes POS, it has instant finality: as long as more than one-third of validators are honest (Byzantine), forks will never be created. Users can be sure that their transactions are completed immediately after the block is created (something that cannot be done in proof-of-work blockchains such as Bitcoin and Ethereum) and with high security.

Cosmos is not limited to the Tendermint chain. In fact, any type of blockchain can be connected to Cosmos. This is due to the fact that Cosmos utilizes two types of scalability: vertical scalability and horizontal scalability.

Cosmos will offer very good vertical scalability at launch, which will be a significant improvement over current blockchain solutions themselves. Later, after the completion of the IBC module, the scale-out solution will be implemented.

The Cosmos SDK simplifies the process of building top secure blockchain applications built on top of Tendermint BFT. It is based on two main principles: modularity and function-based security.

shortcoming:

Another advantage of the Cosmos SDK is that its modularity allows developers to port any existing blockchain code base that already exists in Golang, which is convenient and simple.

shortcoming:

1. Whether the rising star can regain the recognition of the market and strengthen the inclusion and inclusiveness of the ecosystem

2. The technical level is more complicated, and whether it can be fully implemented. Cosmos is committed to technological innovation. In order to reduce the difficulty for developers to develop applications on the chain, the Cosmos SDK framework has been built. With the Cosmos Hub as the center, other chains are linked to form a blockchain Internet. The overall technical structure is mostly new, and the main development team has not so much experience in the industry, and there are not many masterpieces. In the initial stage of construction, a lot of manpower and material resources need to be invested, and in the later stage, it needs to be interconnected with other chains to complete practical applications. The difficulty is indeed not small, and the time line needs to be longer to complete. At that time, whether it can still occupy a place in this rapidly developing market with constantly changing hot spots, only time can answer all this.

3. Whether flexibility and security can coexist, Cosmos focuses on how to reduce the difficulty of asset transfer and pay attention to efficiency. But at present, its cross-chain design is more like a set of framework models, which is idealized. Its sub-chain only needs to pledge a certain number of Atoms, that is, to connect to the Cosmos Hub, the process is simpler, faster, and the cost is lower. This also means that it is more vulnerable to varying degrees of attack. Its security is relatively low, but its level of flexibility is higher.

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Learn about the Cosmos ecology that is about to explode in 2022

As of 2022-01-05, there are 8 top 300 projects in the Cosmos ecosystem, among which the top 100 projects include Terra ($LUNA), Crypto.com ($CRO), Terra USD ($UST), Cosmos ($ATOM) and Secret ($SCRT). There are 4 chains in the top 20 by market value built using the Cosmos SDK (Binance Chain, Terra, Cosmos Hub, Crypto.com Chain). There are more than 260 projects built on the Cosmos ecology, second only to the Ethereum ecology.

Figure 1-2 Market Value Ranking of Cosmos Ecological Projects

The performance of Cosmos ecology in 2021 is relatively quiet, but many people think that Cosmos will have a better performance in 2022, because recently there have been more and more discussions about Ethereum and modular blockchains, and Cosmos The ecosystem has been designed from the beginning based on the core ideas of decentralization and modularity. Some people even think that the Cosmos ecology is more likely to coexist with the ETH ecology in the future than to seize share with the ETH ecology. Evmos, which Cosmos is preparing, allows users to seamlessly exchange assets in two completely different layers (EVM and Cosmos), and will also bring a certain amount of traffic to the Cosmos ecosystem.2021 is the year when IBC (Inter-Blockchain Communication) enters the market, and the Cosmos main chain gradually forms a thriving interconnected economy. In 2022, the adoption of IBC will really come into its own, thanks to Cosmos’ robust tech stack and developer-friendly blockchain frameworks like Starport, with IBC interoperability built into it.

The vast majority of developers prefer Ethereum, Cosmos, and Polkadot: Ethereum has a strong developer community, Cosmos is more independent, and Polkadot is more operable and secure. Developers will choose among them according to their application needs. make a choice.

At present, among the three, Ethereum has the largest ecology, but its bottlenecks and limitations can already be foreseen. The subsequent ecological development and trend of the industry will be more and more inclined to Cosmos and Polkadot. However, the relationship between these three mainstream ecological platforms should be more complementary rather than competitive, and the structure and goals of the platforms should also be explored and developed for the realization of a larger and better Web 3.0 vision.

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Learn about the Cosmos ecology that is about to explode in 2022

Figure 1-3 Introduction to the Cosmos White Paper

2.1.1. TENDERMINT BFT

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blockchain2.1.2. Inter-Blockchain Communication (IBC)blockchainThe connection between the

(IBC) protocol implementation. IBC leverages the instant finality property of Tendermint consensus (although it can be used with any fast finality blockchain engine) to allow heterogeneous chains to transfer value (i.e. tokens) or data to each other.

How IBC works: The principle behind IBC is fairly simple. Lets take an example, an account on chain A wants to send 10 tokens (lets call them atoms) to chain B.

2.1.2.1. Tracking

Chain B receives the head of chain A and vice versa, allowing each chain to track the validator set of the other chain. Essentially, each chain runs one light client another.

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Learn about the Cosmos ecology that is about to explode in 2022

Figure 2-1 IBC transfer diagram

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Learn about the Cosmos ecology that is about to explode in 2022

Figure 2-2 Illustration of binding proof

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Learn about the Cosmos ecology that is about to explode in 2022

The proof is verified on the B chain against the header of the A chain, and if valid, 10 ATOM certificates are created on the B chain.

A similar mechanism is used to unlock ATOMs when they are returned to their original chain. For a more comprehensive description of the IBC protocol, you can check thisspecification

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2.2. Network Governance

2.2.1. Validators

Nodes with voting rights are called validators. Validators participate in network governance and produce blocks by propagating encrypted signatures or votes.

2.2.2. Light clients

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2.3. Application

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2.3.1. Distributed exchange

Just like Bitcoin is more secure as a ledger, transactions are protected from internal and external hackers by running on the blockchain, called a distributed exchange.

For example, two users can exchange bitcoin for ether using an AXC transaction, even though bitcoin and ether are not connected to each other. The benefit of running an exchange on AXC Exchange is that users do not need to trust each other or trade matching services. The downside is that both parties need to be online to conduct the transaction.

In view of this situation, an important application of Cosmos is Cosmos DEX. With the help of Tendermint, Cosmos Center and IBC, traders can quickly transfer funds in and out of the exchange and into and out of other areas.

2.3.2. Ethereum expansion

Solving the scaling problem is an open question for Ethereum. Since Tendermint can submit blocks faster than Ethereums proof-of-work, EVM zones powered by Tendermint consensus and running on bridged ether can provide higher performance for the Ethereum blockchain.

2.3.3. Multi-application integration

Cosmos regions run arbitrary application logic that is defined at the beginning of the regions lifecycle and may be updated by governance over time. This flexibility allows Cosmos zones to act as bridges to other cryptocurrencies such as Ethereum or Bitcoin, and also allows derivatives of these blockchains, using the same codebase but with different validator sets and initial distributions.

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3. Cosmos Economic Model Analysis

3.1. ATOM Tokens

$ATOM is the governance token of the Cosmos Hub (Cosmos Center), a multi-asset distributed ledger, with an initial supply of 200 million pieces, and the current total circulation of 226 million $ATOMs, with a total market value of $7,949,573,541. (as of 2022-01-08)

Learn about the Cosmos ecology that is about to explode in 2022

Learn about the Cosmos ecology that is about to explode in 2022

Figure 3-1 Distribution Mechanism of ATOM Tokens

Figure 3-2 Distribution mechanism of ATOM tokens

Learn about the Cosmos ecology that is about to explode in 2022

The model adopted by $ATOME is inflation-increasing, with an increasing rate of 7% to 22%, and the specific ratio depends on the current amount of Atom Staking. When the number of stakes is greater than 1/3 of the total amount of Atoms, the increase rate is 7%, and when it is less than 1/3, the increase rate is 20%~22%.

  • Figure 3-3 Mortgage Inflation Ratio Chart of ATOM Tokens

  • 3.4. Incentive mechanism

  • Staking $ATOM through Staking can get newly generated $ATOM token rewards and some transaction fees.

Stake $ATOM to vote in Cosmos Hub governance decisions. (It takes 21 days to unbind)

  • Purchase via centralized/decentralized exchanges.

  • 3.5. Ecological model

  • Transaction fees in the Cosmos ecosystem

  • Staking $ATOM can improve the security of Cosmos Hub.

  • Participate in community governance

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4. Development Status of Cosmos

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4.1. Team Development

Learn about the Cosmos ecology that is about to explode in 2022

The Cosmos development company is Tendermint, the original core development team behind the Tendermint consensus protocol and the Cosmos Hub.

Learn about the Cosmos ecology that is about to explode in 2022

Powered by Interchain Foundation, core organization:

Figure 4-1 Cosmos development company ecological map

Learn about the Cosmos ecology that is about to explode in 2022

Investment agency:

Learn about the Cosmos ecology that is about to explode in 2022

Investment agency:

Figure 4-3 Cosmos Investment Organization Chart

Learn about the Cosmos ecology that is about to explode in 2022

Table 4-4 Cosmos development roadmap

first level title5. Analysis of key Cosmos ecological projects

There are more than 260 Cosmos ecological projects, and the total market value has exceeded 70 billion US dollars, second only to the Ethereum ecosystem, ranking second in the blockchain industry.

Learn about the Cosmos ecology that is about to explode in 2022

The core products of Cosmos are Tendermint consensus mechanism, Cosmos SDK and cross-chain IBC protocol. As long as the project adopts one of the above three categories of products, it can be classified as a Cosmos ecological project. At present, the prosperity and implementation of the Cosmos ecology is second only to the Ethereum ecology.

Learn about the Cosmos ecology that is about to explode in 2022

5.1. DeFi,Figure 5-2 Overview of some Cosmos ecological projects

5.1.1. Band Protocol (BAND)

oracle, basic chain

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Band Protocol is a Cosmos-based cross-chain oracle that provides real-world data and APIs to blockchain smart contracts.

Learn about the Cosmos ecology that is about to explode in 2022

It can be seen from this that band is a design that really considers developers, and it meets the needs of the entire blockchain ecosystem for off-chain data.Crypto.com,OKEX,The current market value of $Band is 220 million USD, and the price is 5.42$/BAND. The circulation is 41 million pieces, and the total amount is 100 million pieces. On-line exchanges:

5.1.2. Kava (KAVA)

Gate.io etc. (as of 2022-01-08)

Learn about the Cosmos ecology that is about to explode in 2022

Kava is the first DEFI platform based on Cosmos cross-chain, with an over-collateralized credit mechanism similar to MakerDAO, and a local cross-chain currency market called Hard Protocol. Kava focuses on lending and cross-chain interoperability.

Figure 5-4 Kava network structure diagram, source: kava white paperGate.io, Crypto.com,OKEX,The current market value of $KAVA is 670 million US dollars, and the price is 4.58$/BAND. The circulation is 140 million pieces, and the total amount is 150 million pieces. On-line exchanges:

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5.2.1. Osmosis (OSMO)

Osmosistext

Features:

Designed to be cross-chain native. Built-in IBC, enabling it to connect to the entire Cosmos chain ecosystem and its over $20B of native assets. After integrating native Cosmos assets, Osmosis will integrate with non-IBC-enabled chains, including various chains including Ethereum-based ERC20s, Bitcoin-like chains, and alternative smart contract platforms by utilizing custom hooks. In October 2021, it received $21 million in financing led by Paradigm. This is Paradigms first investment in an AMM-based DEX project outside the Ethereum ecosystem.

Learn about the Cosmos ecology that is about to explode in 2022

Cross-chain assets (native to cross-chain), customizable curves, fees and other parameters, LP governance, liquidity provider incentives.

  • Figure 5-5 Osmosis cross-chain interface preview

  • The OSMO token is a governance token that provides token holders with a decentralized, coordinated method to decide on the strategic direction and all future changes to the Osmosis protocol. It is expected that OSMO will primarily be used for the following functions (although governance may choose to add or remove some):

  • Vote on protocol upgrades

Allocate liquidity mining rewards for liquidity pools

5.2.2. Sifchain (ROWAN)

Learn about the Cosmos ecology that is about to explode in 2022

The current market value of $OSMO is 2.2 billion USD, and the price is 8.53$/OSMO. The circulation is 260 million pieces, and the total amount is 1 billion pieces. The release of tokens decreases by 1/3 every year, and about 870 million pieces will be released in 10 years. Online exchanges: Osmosis, Coin.EX, etc. (as of 2022-01-08)

Figure 5-6 Sifchain interface preview

Sifchain is a cross-chain (full-chain) exchange inspired by THORchain full-chain exchange. In August 2021, it received US$3.5 million in seed round financing from Alameda Research and other institutions. Its token is $ROWAN, with a total circulation of 1 billion pieces and a current market value of about $68 million. (as of 2022-01-08)

After Terra was connected to IBC, Sif chain immediately provided support for LUNA and UST assets, and also increased the mining of LUNA-ROWAN and LUNA-UST trading pairs.

The method of mining LUNA and UST assets in Sifchain

1. Switch the chain of Keplr wallet to Sifchain

2. Enter dex.sifchain.finance and enter the Balances column

3. Search for LUNA or UST, click Import to import assets

4. Connect the Terra Station wallet and authorize it, and confirm the amount deposited in UST or LUNA in the pop-up window

5. In the Swap column, replace a part of ROWAN with UST or LUNAhttps://dex.sifchain.finance/#/balances/get-rowan 

6. Enter the Pool column, Add Liquidity, add ROWAN-LUNA or ROWAN-UST trading pair when using Sifchain for the first time, you can receive free Gas (ROWAN),

The above tutorials are provided by the DeFi100 community. For the detailed usage guide of Sifchain, seeOfficial website document

5.2.3. Emeris

Learn about the Cosmos ecology that is about to explode in 2022

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Figure 5-7 Emeris interface preview

In September 2021, Emeris launched its testnet, a one-stop portal for crypto applications built on Tendermint. What Emeris wants to achieve is to provide access to various decentralized applications scattered across various blockchains in one easy-to-use interface. At present, Emeris has not yet issued tokens, and the project party has not yet announced detailed financing information, but the beta version of Emeris has been released.

How to participate in the Emeris beta program

1. Open the Keplr wallet setting, click show advanced IBC Transferapp.emeris.com2. Click and add New IBC transfer channel, select Osmosis chain, and fill in channel-141 for channelID

3. open

, connect the wallet in the upper right corner and click Authorize

4. Open Swap, select the target token, such as Osmo and other value exchanges, and click confirm5. Choose to send Osmo

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5.3.1. Terra USD (UST)

5.3. Stablecoins

Terra is designed as a cross-chain stablecoin to build financial infrastructure for the next generation of dapps. Currently, Terra has tens of thousands of active users and a turnover of hundreds of millions of dollars. The Terra blockchain offers two types of tokens called Luna and Terra. Luna is the native token of the Terra blockchain, and users are rewarded for staking. Terra, on the other hand, is a family of stablecoins that are pegged to fiat currencies used by payment apps.

5.3.2. e-Money(NGM)

The current market value of $UST is 10 billion US dollars, and the price is 1$/UST. The circulation is 10.4 billion, and the total amount is 10.4 billion. On-line exchanges: Kucoin, Binance, MEXC, etc. (as of 2022-01-08)

The creators of e-Money promote their project as the next generation of money, arguing that cash cannot keep up with the pace of innovation in the digitization of financial services. The e-Money project was thus developed to solve the cash problem in digitized banking and finance. Designed to provide users with easy access, speed and transparency, e-Money is designed to enable instant transactions.

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5.4.1. Akash (AKT)

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Features:

Akash Network is a decentralized cloud platform specially designed for DeFi, and it is the worlds first decentralized cloud computing market. Akash DeCloud is a faster, better, lower-cost cloud built for DeFi, decentralized projects, and high-growth companies, offering unprecedented scale, flexibility, and price performance. At 90% lower cost, our serverless computing platform is compatible with all cloud providers and all applications running on them.

Features:

(1) Serverless, simplifies code deployment, and dynamically distributes management resources;

(2) Interoperability, joint control plane of multi-cloud, multi-chain and multi-token;

(3) Security privacy, fault tolerance, expansion and management of workload;

(4) Hybrid cloud, physical servers provided by cloud service providers and organizations with spare capacity.Gate.io,The current market value of $AKT is 290 million USD, and the price is 2.35$/OSMO. The circulation is 120 million pieces, and the total amount is 170 million pieces. On-line exchanges:

5.4.2. IRISnet (IRIS)

BitMax and others. (as of 2022-01-08)

Learn about the Cosmos ecology that is about to explode in 2022

IRISNET is the first cross-chain hub (Hub) in the Cosmos ecosystem. It supports cross-chain services and focuses on promoting the construction of decentralized business applications, so that it can support complex distributed application development and allow application developers to use services quickly. An underlying platform built. It can provide cloud-based services, some functions of public chains or alliance chains, to the Cosmos world in the form of services, so that everyone can call this service across chains.

Figure 5-8 Iris ecological structure diagram, source: IRIS white paper

The founder of IRIS is Harriet Cao, the head of Cosmos China. IRIS uses the Cosmos SDK modularization and has launched the mainnet on 2019-03-01. As of 2022-01-08, IRIS Hub has generated 467,715 transactions And 8,305 areas, the average block generation time is about 6.5s, the number of NFTs generated is as high as 87,867+, and the number of serious network nodes is about 115.

The current market value of $IRIS is 135 million US dollars, and the price is 0.113$/IRIS. 1.19 billion pieces in circulation, 1.99 billion pieces in total, listed on exchanges: Binance, Huobi, Gate.io, etc. (as of 2022-01-08)5.5. NFT ecologyCosmos completed the pioneering work in the NFT field in 2021, and successfully realized the NFT of Chinese traditional cultural artworks from BSNWenchang Chain IRITA OPBto Ethereum

The first cross-chain transfer

Stashh by Secret Network

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6. Competitive Analysis

6.1. Competitive ecology

Polkadot (Poca)

Polkadot is a scalable heterogeneous multi-chain system. This means that unlike previous implementations of individual blockchains that focus on varying degrees of potential application functionality, Polkadot itself is designed to provide no inherent functional application.

Learn about the Cosmos ecology that is about to explode in 2022

  • 6.2. Comparative analysis

Learn about the Cosmos ecology that is about to explode in 2022

  • Application ecology

Table 6-2 Comparison of basic information between Cosmos and Polkadot

Learn about the Cosmos ecology that is about to explode in 2022

In terms of overall protocol development activities, whether it is Ethereum, Sol, Cosmos, or Polkadot, they are all positive. Polkadot is on an upward trend in 2021. From this perspective, Polkadot has surpassed Cosmos since Q1 2021 and is on par with Solana since Q3 2021. The uptick in Polkadot protocol development activity appears to be happening within the launch timeframe ahead of the first parachain slot auction in November 2021. Meanwhile, Cosmos appears to be maintaining a long-term steady pace of development.

  • Figure 6-4 ETH, Polkadot, Cosmos and Solana ecological development agreement scale

Active developer communities for each of the four protocols continue to rise. Ethereum has already approached 250 monthly active developers, while Cosmos, Polkadot, and Solana are relatively flat at around 50. But Polkadot, Cosmos, and Solana have all managed to attract more and more monthly active developers recently. This is consistent with the current migration of capital and talent from Web 2 to Web 3

development level

  • In order to reduce the difficulty for developers to develop applications on the chain, Cosmos built the Cosmos SDK framework, which simplifies the process for users to develop top-level and secure applications, and also enables developers to develop applications or blockchains without implementing all from scratch. The interconnected consensus code can be packaged directly using the SDK module.

Polkadot also has its own Substrate technology in this regard. Compared with the Cosmos SDK, it has more innovations and visions in WASM, more consensus algorithms, and out-of-the-box modularization.

Architecture Details

  • The Cosmos Hub uses the Tendermint consensus algorithm (inspired by the Practical Byzantine Fault Tolerant Algorithm), created by Jae Kwon in 2014. This means that once the block is completed, the process is irreversible, that is, as long as the transaction is in the finalized state, instant mobile IoT payments can be realized. Since no confirmation is required, it is called fast finality.

Polkadots consensus mechanism consists of two parts: GRANDPA and BABE. GRANDPA is a finalization tool, borrowing some ideas from GHOST (such as Ethereums Casper). BABE is a Ouroboros block generation mechanism similar to Cardano. The introduction of the former allows a part of the chain to be finalized and irreversible. It separates the finalization tool from the generation block and allows the less efficient finalization tool to generate blocks. The different processes of the blockchain take effect, which means that the generation of blocks can be scaled and adjusted, which is different from the PBFT-based Cosmos Tendermint algorithm.

Security Level/Flexibility Level

  • The Cosmos sub-chain only needs to pledge a certain amount of Atoms (Cosmos parent chain token) to connect to the Cosmos Hub. The process is simpler and faster, and the cost is lower. But at the same time, the security framework used by the sub-chain is different from Cosmos, which also means that it is more vulnerable to attacks of varying degrees. Its security is relatively low, but its level of flexibility is higher.

However, Polkadots application projects need to participate in the card slot auction when accessing the parachain, which has a longer operating cycle and higher costs. But the advantage is that Polkadot application developers do not need to maintain security by themselves, but the unified security framework of the main network, which is more secure but less flexible.

Cross-chain layer

  • Cosmos focuses on how to reduce the difficulty of asset transfer, but at present, Cosmos cross-chain is more like designing a framework model, allowing other blockchains to add applications under the premise of satisfying the Cosmos SDK and BFT consensus algorithm. This framework model is It is idealized, so it is still working hard to develop in the light node mode.

Polkadots cross-chain communication is easier to solve under the shared security model, and it focuses more on unlimited types of information transmission. At present, other cross-chain methods, whether they are public chains or consortium chains, have limitations, and they need to really bear the burden. The way of chain interconnection is definitely not just one chain, but the connection and transmission of thousands of chains. Therefore, the cross-chain method and technology of polkadot finally forms an Internet composed of many blockchains to meet this standard.

In general

Learn about the Cosmos ecology that is about to explode in 2022

Figure 6-5 Polkadot VS Cosmos

The launch time of the Cosmos mainnet is relatively longer, and the development of the application ecology is more complete, while Polkadot is still somewhat lacking in actual operation. And also as a heterogeneous cross-chain Cosmos and Polkadot, for developers, the permission-free joining method is more suitable for the spirit of blockchain decentralization. Generally speaking, each has its own advantages and disadvantages.

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7. Summary and opportunities

There are more and more projects based on COSMOS technology. If you are an investor who pays attention to early investment opportunities, you may wish to experience more star projects and cross-chains in the new multi-chain ecosystem. As long as you have experienced the IBC function in Cosmos, you may never use the cross-chain bridge again. Let us wait and see whether COSMOS will become the top leading protocol of Web3.0 in the future.

references

  1. first level titlehttps://cosmos.network/

  2. referenceshttps://v1.cosmos.network/resources/whitepaper

  3. Cosmos official website address:https://discord.com/invite/cosmosnetwork

  4. Cosmos white paper:https://twitter.com/cosmos

  5. Cosmos Discord Community:https://coinmarketcap.com/zh/currencies/cosmos/

  6. Cosmos official Twitter:https://t.me/cosmosproject

  7. Coinmarketcap website $ATOM information:https://docsend.com/view/gwbwpc3

  8. Cosmos Telegram community:https://www.jianshu.com/p/4558dd396ed9

  9. Cosmos Roadmap:https://github.com/cosmos/gaia/blob/main/docs/roadmap/cosmos-hub-roadmap-2.0.md

  10. Cosmos profile on Messari :https://messari.io/asset/cosmos/profile

  11. Kava white paper:ttps://blog.cosmos.network/whats-coming-to-cosmos-in-2022-ce8e48d383ab

  12. Detailed Explanation of Cosmos - Short Book:

  13. Guo Chao, Guo Shuaiyin, Zhang Shengli, Song Lingyang, Wang Hui.Analysis of Blockchain Cross-chain Technology[J].Journal of Internet of Things,2020,4(02):35-48.

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Certain statements involved in this article may be assumptions about future expectations and other forward-looking opinions, and known and unknown risks and uncertainties may cause actual results, performance or events to be different from opinions and assumptions in the statements There are substantial differences.

Any projections, forecasts and estimates contained in this report are speculative in nature and based on certain assumptions. These forward-looking statements may prove to be wrong and are subject to incorrect assumptions or known or unknown risks, uncertainties and other factors, most of which are beyond our control. It is anticipated that some or all of such forward-looking assumptions will not materialize, or will differ materially from actual results.

Certain statements involved in this article may be assumptions about future expectations and other forward-looking opinions, and known and unknown risks and uncertainties may cause actual results, performance or events to be different from opinions and assumptions in the statements There are substantial differences.

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Any projections, forecasts and estimates contained in this report are speculative in nature and based on certain assumptions. These forward-looking statements may prove to be wrong and are subject to incorrect assumptions or known or unknown risks, uncertainties and other factors, most of which are beyond our control. It is anticipated that some or all of such forward-looking assumptions will not materialize, or will differ materially from actual results.

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