The Cosmos Network is an ecosystem of blockchains all made to scale and interoperate with each other. In other words, it is a decentralised network of independent parallel blockchains. Each blockchain is powered by Byzantine fault-tolerant (BFT) consensus algorithms.
To understand the Cosmos Network, you need to have a good understanding of what blockchain is. In simple terms, blockchain is a form of distributed ledger technology (DLT). It is a database that stores and records all incoming transactions for anybody to see.
Blockchains are decentralised, meaning no singular entity can have complete control over them. For example, banks or governments may dictate and control finances, personal information, and so on, but a blockchain doesn’t. A single blockchain is spread across the world on many devices, often referred to as nodes, that come together to support an entire network that is free from central control.
The Cosmos Network
Now that you have an understanding of blockchain technology, we can delve deeper into how the Cosmos Network works and why it is so beneficial.
The Cosmos Network is an ecosystem of blockchains, and this ecosystem was created to make it easier for developers to build blockchains and break certain barriers between these blockchains. This would then allow each blockchain to transact with each other.
By using the Cosmos Network, blockchains are able to maintain sovereignty and process transactions in a timely manner whilst communicating with other blockchains.
The end goal of the network is to create an internet of blockchains that are able to communicate with each other in a decentralised manner.
How does the network work?
All of this is achieved by using a set of open source tools such as Tendermint, the software used for securely replicating an application on many devices and machines. The Tendermint Core engine reduces the development time of a blockchain from years to weeks.
However, this can be a difficult task, and this is where the Cosmos SDK comes in. It is a generalised framework that simplifies the complicated process of building secure blockchain applications on Tendermint Core.
Like all Cosmos tools, the SDK is modular, meaning it allows all developers to build on top of the Tendermint software and can also be used with any other consensus engines that implement the ABCI (Application Blockchain Interface). The ABCI is the socket protocol that connects the Tendermint Core engine to the application. It can be changed into any programming language to allow developers to choose a language that suits their needs.
All of these tools put together are designed to enable people to build secure, scalable, and interoperable blockchain applications quickly.
Why is the Cosmos Network needed?
Before the network was created, all blockchains were isolated from each other, meaning they were unable to communicate. They were also hard to build and could only handle small amounts of transactions per second.
However, Cosmos solved all of these issues with a developed technical vision. It is a network that makes all blockchains extremely powerful whilst being easy to develop. The network allows blockchains to transfer value between each other whilst letting them retain their sovereignty. Finally, the Cosmos Network allows all blockchain applications to successfully scale to millions of users through vertical and horizontal solutions.
Final thoughts
By now, you should hopefully have a clear understanding of what the Cosmos Network is and why it was created. The Cosmos Network is not just a product but an ecosystem of blockchains and tools.
Developers on the network are recommended to join all efforts in improving existing tools and to create new ones. This will then make the promise of blockchain technology a reality. These developed tools are going to be essential to create a decentralised internet and global financial system.
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Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.