Optimized around blockchain interoperability, the Cosmos Network is set to become a chain of chains. The project will be the latest high-profile play to land in the cryptoeconomy, as its mainnet is prepped for launch on March 13th. Here’s what those unfamiliar with the upstart should be looking for.
Strictly speaking, Cosmos will not be one blockchain but rather many parallel chains.
“Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus,” the project’s website reads.
BFT stands for Byzantine Fault Tolerance, as a consensus mechanism is secure if it maintains such tolerance. While Bitcoin and Ethereum presently leverage Proof-of-Work (PoW) to achieve consensus via mining, Cosmos leverages a version of Proof-of-Stake (PoS) that involves staking ATOM governance tokens.
Tendermint refers to two things, Tendermint Core and Tendermint consensus. The former is open-source blockchain infrastructure that pre-packages its…