One Blockchain to rule them all, One Blockchain to find them, One Blockchain to connect them all and in network bind them.
We got used to the idea, that separate blockchains are siloed. They do not cooperate. They do not communicate. Each of them is a sealed ecosystem of its own.
But after the boom in ICOs and cryptocurrencies, resulting in mass production of hundreds of solutions, there comes this natural urge for unification and making them all interchangeable.
Last week we’ve witnessed a breakthrough in this process – the launch of Cosmos Hub.
What is Cosmos?
In short, Cosmos is an and open source technology that creates the Internet of Blockchains. They can connect, interoperate, transact and scale together. You can use that to develop custom blockchain solutions in an easy and secure way.
After 3 years of planning and development, and collecting $16 million thorough their ICO, the first Cosmos Hub went live on 13th of March 2019. Although it does not have the full functionality yet, we can expect that soon it will enable the Inter-Blockchain Communication feature, allowing to swap tokens between blockchains.
Cosmos contains a set of modular and interchangeable tools, including Cosmos-SDK – a framework for building custom blockchains.
What’s next?
The goal of Cosmos is to assure interoperability between the networks in its ecosystem. The result will simplify the interactions and basically create a whole alternative universe, that you can easily join to build a complex custom distributed ledger systems.
It will help to adjust the solution to business needs, simplify the whole flow of transactions and increase their safety.
Blockchain developers that can help you with your project
At 4soft we deliver custom blockchain and web solutions. Let’s talk about software development.
