Cosmos Blockchain
Last updated
Last updated
Cosmos is a decentralized network of independent parallel blockchains, each powered by. BFT. consensus algorithms like Tendermint consensus. In other words, Cosmos is an ecosystem of. blockchains.
The Cosmos Hub, a proof-of-stake blockchain, is powered by its native ATOM cryptocurrency. Users seeking to stay connected on the current development status of Cosmos can follow its roadmap through the website.
The IBC is an open-source protocol used to relay messages between independent distributed ledgers, linking one blockchain to another. Simply put, they act as “relays” for data to be transmitted to blockchains, which then creates a whole blockchain network.
The native currenct of the Cosmos Blockchain is the ATOM token. ATOM is used to perform transactions on the Cosmos Inter-Blockchain(IBC).
The Cosmos Blockchain uses the IBC protocol to build chains that can communicate with each other.
The Cosmos Hub is based on Tendermint (opens new window)that relies on a set of validators that are responsible for committing new blocks in the blockchain. These validators participate in the consensus protocol by broadcasting votes that contain cryptographic signatures signed by each validator's private key.
Validator candidates can bond their own ATOM and have ATOM "delegated", or staked, to them by token holders. The Cosmos Hub has 175 validators (opens new window), but over time the number of validators can be increased with governance proposals. The validators are determined by the total number of ATOM tokens delegated to them — the top 175 validator candidates with the most voting power are the current Cosmos validators.
People that cannot or do not want to operate validator nodes can still participate in the staking process as delegators. Indeed, validators are not chosen based on their self-delegated stake but based on their total stake, which is the sum of their self-delegated stake and of the stake that is delegated to them.
his is an important property, as it makes delegators a safeguard against validators that exhibit bad behavior. If a validator misbehaves, their delegators will move their Atoms away from them, thereby reducing their stake. Eventually, if a validator's stake falls under the top 125 addresses with highest stake, they will exit the validator set. Delegators share the revenue of their validators, but they also share the risks.
