Get to know COSMOS Interoperability Ready to Become the Blockchain Internet.

Get to know COSMOS Interoperability Ready to Become the Blockchain Internet.

What's up dude.
On this occasion I will give a brief scribble about COSMOS, where their project is ready to become the blockchain internet.

On this occasion I will raise about the Cosmos project, what is the history of the Cosmos price. What is the vision of the project Cosmos, what are the Cosmos features and functions and what are the strengths and weaknesses of Cosmos.

So, is Cosmos a project worth holding on to..? Let's find out okay let's go.

In 2008 Bitcoin introduced blockchain technology to the world, since then the blockchain technology which has been adopted by some of the world's largest companies has neglected the financial sector.

Therefore I believe, it will continue to destroy the traditional banking system. As more and more people used to understand and use blockchain technology, but with its rapid adoption came the problems that come from the current limited scalability and interoperability part.

Scalability and interoperability are a big issue that many crypto projects have sprung up, what makes the Cosmos network unique. According to Whitpaper the Cosmos network can fix the following issues, scalability, interoperability, usability and sovereignty.

Let's find out what all that means and if it's true that they can fix it. Nowadays a blockchain tends to act as its own universe with almost no way to communicate with the outside world, this network is a potential problem and raises questions.

Can there be one blockchain that unifies all blockchains, now the Cosmos network is working very hard to prove that is the answer to solving this problem.

What is the price history of Cosmos.
Today Cosmos sits around $27.18 and is ranked 22nd with a marketcap of 4.75 Billion US Dollars when you look at the annual price chord, you can see that the Cosmos price has gone up very aggressively since 2020 compared to now.

Even with market corruption pushing the price of Cosmos down, investors still making profits in a very short time, I think that the Cosmos network has made a huge profit. That's because of the fact that they provide important solutions to real problems.

What is the vision of the project Cosmos..
Cosmos' vision is simple to allow any blockchain to communicate, share data and transact with one another, by allowing many different blockchains to work with each other without the need for merciless competition from a single blockchain to rule everything.

Instead, many of these different blockchains can coexist in harmony, with their own particular uses and benefits, so let's see how Cosmos seeks to address those issues.

First scalability problem for bitcoin and ethereum can compete with more popular systems like visa and paypal, they need to seriously up their game in terms of transaction time while paypal takes care of 163 transactions per second and visa takes care of 1667 transactions per second.

Ethereum is only capable of 20 transactions per second, while bitcoin 7 transactions per second. The only way those numbers can be improved is they can improve on scalability and the answer is Cosmos hubs, they are powered by the leading BFT.

Cosmos are connected to many blockchains or other zones as they call them, Cosmos hubs track different types of tokens and keep records of the total number of tokens. In each connected zone, tokens can be transferred from one zone to another safely and quickly without the need for a liquidity market between zones.

This is because all coin transfers between zones go through Cosmos hubs, these zones allow Cosmos to scale infinitely to meet Global transaction demands in a perfect world. According to Cosmos all blockchains will be the pages of Cosmos' book and its network of books binding them all together.

The second problem is interoperability.
Let's look at the current ecosystem in the crypto world, we have different coins, just like in the financial world we have systems like traditional banking that use Swift, Key and others.

The problem lies in the fact that it is very difficult for the individual entities to communicate with each other, difficult for bitcoin to know what is going on on ethereum and vice versa more often than not these blockchains rarely share any information with each other.

This becomes doubly difficult when banks try to communicate with crypto, this is why crypto exchanges that provide portals between crypto and banks are so powerful and important. But we must also remember that with exchange centers al, there are issues too like being more vulnerable to hacking or hijacking and also there are outages for a long time, when the system needs upgrading or maintenance.

So what is Cosmos' approach to interoperability.

In February 2021 Cosmos launched the stargate which included the first common premise of the communication protocol between blockchains. Stargate is a set of enhancements that complements the original roadmap planned in Cosmos wallpaper for the first time in its lifetime, Cosmos blockchains will be able to connect with each other using the first standardized protocol for communication between blockchains.

Cosmos Coin.
What is atomic token...? Originally the Cosmos network was called atomic or gave its holders the ability to plug in and authorize blogs, vote on governance issues and pay transaction fees, atoms were also issued as a reward to validators.

What network you can do with the Cosmos atom.
Operating on a proof-of-stage consensus mechanism that means atomic holders are able to earn a portion of their blog, network and transaction fees through stakes, either by running their own validator nudes or by delegating their or her coins to a validator.

If they choose for those coin holders to delegate Atom coins to validators instead of running their own validator software, it allows them to receive a portion of the stake reward, just keep in mind any improvement changes or feature activations in Cosmos' protocol are subject to atomic holder approval.

Dapps built on Cosmos.
Cosmos is most like a polka-dot projector, which also seeks to create an intro-problem blockchain network ecosystem. This means that they can operate with each other as a network of blog engine troubles that can scale up and are able to accept smart contracts.

Cosmos has become popular among Dapps developers looking to build efficient cross-blockchain decentral applications, some of the most prominent tips operating on Cosmos today include Anchor. Anchor is a financial platform that offers low volatility interest rates on stable coin deposits. Flash is a payment network that supports multiple assets and payment systems including games and defi.

The Cosmos network has some real value, some strengths and weaknesses.

For strength, they are designed to address scalability issues, interoperability issues, usability issues and sovereignty issues. As for the downside, which the Cosmos network is trying to achieve is difficult and won't happen quickly, it will require a lot of trial and error even though it's a great idea in theory.

Only time will tell whether the project team's experts and developers will deliver on their promises and goals within the promised time frame or not. The stargate network just launched in February 2021, so only time will tell if it's effective or not.

The Cosmos network will undergo a major upgrade in 2022. Deployment of Theta enhancements will bring liquid staking, intechain security, interchain accounts, and a blueprint for creating NFTs to the Cosmos ecosystem.