Cosmos can interoperate with multiple other applications and cryptocurrencies, something other blockchains can’t do well. By creating a new zone, you can plug any blockchain system into the Cosmos hub and pass tokens back and forth between those zones, without the need for an intermediary. Scaling is another open issue for blockchains. Both Ethereum and Bitcoin support only a fraction of the transactions seen daily on payment networks like Visa or Mastercard. In contrast, zones allow Cosmos to scale out indefinitely. Another problem blockchains run into is how to handle upgrades when new versions come out. Getting all of the validators ('miners' in the case of Bitcoin) to upgrade to a new version of a blockchain simultaneously is tricky, and could lead to hard forks. Cosmos offers a way to link them together, but without creating a new centralized clearinghouse or exchange.
- A PoS consensus algorithm called Tendermint - Cosmos network consists of many independent, parallel blockchains, called zones, each powered by classical Byzantine fault-tolerant (BFT) consensus protocols like Tendermint - The Cosmos hub connects to zones via the novel IBC (inter-blockchain communication) protocol and keeps a record of the total number of tokens in each zone - Cosmos can support a variety of currencies and scripting languages like those found in Bitcoin, Ethereum, ZeroCash, CryptoNote, and more
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The Cosmos Blockchain Network is a highly innovative solution that aims to catalyze powerful and significant change in the blockchain ecosystem. By allowing disparate blockchain networks to communicate with each other while at the same time arming users with the ability to create their own hubs, the Cosmos Blockchain Network makes it possible to create a global interconnected blockchain network free from a “centralized decentralized” intermediary.
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