The “Internet of Blockchains” for Scalability and Interoperability
It is a halal crypto currency.
Cosmos (ATOM) is a project launched in 2017, aiming to create an ecosystem of interconnected blockchains. Here’s a look at its core functionalities:
- Interoperable Blockchain Network: Cosmos enables independent blockchains to communicate and exchange data with each other securely. This fosters a more connected and interoperable blockchain ecosystem, often referred to as the “Internet of Blockchains.”
- Scalability Through Modular Design: Cosmos utilizes a modular architecture where each blockchain (zone) can focus on specific tasks, improving overall scalability and transaction processing speed.
- Tendermint Byzantine Fault Tolerance (BFT): Zones in the Cosmos ecosystem leverage Tendermint BFT, a Byzantine Fault Tolerance consensus mechanism, for secure and efficient transaction validation.
- ATOM: The Network Token: ATOM, the native token of Cosmos, is used for staking, governance, and facilitating communication between zones within the Cosmos network.
- Expanding Ecosystem: Cosmos boasts a growing ecosystem with various interconnected blockchains focusing on DeFi (Decentralized Finance), NFT marketplaces, and other innovative applications.
Revolutionizing Blockchain Interaction:
By enabling seamless communication and interoperability between blockchains, Cosmos has the potential to revolutionize how blockchains interact and pave the way for a more interconnected and scalable future for blockchain technology.