Underscoring the fact that blockchain development takes time, after five years of work, Cosmos launched its mainnet yesterday. This leads to an important question–what is Cosmos anyway?
What Is Cosmos?
A project developed under the premise that there should be as many blockchains as there are internet applications.
The focus is on delivering the industry a network of interoperable blockchains that are independent and scalable. Through this, Cosmos claims to solve the “hardest blockchain problems.”
The team believes that blockchains should no longer be “siloed” or unable to communicate with each other. Their network does away with this issue and provides the foundation of the new token economy. How?
5 Years in the Making
Cosmos was conceived in 2014 when Jae Kwon noted that the:
Safety-favoring nature of classical Byzantine Fault Tolerant (BFT) consensus algorithms would allow us to use Proof of Stake (PoS) for Sybil resistance in a public blockchain context without the need for external sources of…