Network

【Network Introduction】Cosmos

7 Mins read

Basic Information

Established Time:2016(Mainnet launched March 14, 2019)

Issue Time:April 6, 2019

Country:Zug, Switzerland

Coin:ATOM

Market Value:$7,916,980,669

Current Price:$27.03

Raise Situation

The foundation categorized recipients of these minted ATOMs into four different blocks: Private Contributors, Public Contributors, All in Bits Inc (AiB), and the Interchain Foundation (ICF).

(Details can be check in the below introduction: Economic Model-Distribution)

Circulating Supply:292,184,523 ATOM

Total Supply:

Max Supply:

Explore:https://atomscan.com/

All-Time High:$44.45 (Jan 17, 2022 )

All-Time Low:$1.16 (Mar 13, 2020)

Network Detail

  • Brief Introduction

Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.

Cosmos is not a product but an ecosystem built on a set of modular, adaptable and interchangeable tools. Developers are encouraged to join the effort to improve existing tools and create new ones in order to make the promise of blockchain technology a reality. These tools are the foundation needed to create the decentralized internet and global financial system of tomorrow.

Cosmos is designed to operate as a network of zones and hubs. Zones are application-specific blockchains with sovereign security and governance models while hubs are intermediary blockchains that observe the state of connected zones and facilitate asset transfer between them. Cosmos is not a blockchain but a toolbox to design new blockchains. However, Cosmos Hub is the first PoS blockchain that works as a hub between zones and contains a multi-asset ledger, and lets other subsequent zones interact with each other through the inter-blockchain communication protocol, IBC. Their interaction is powered by Tendermint Core, a secure consensus protocol that provides fast finality and is easily adaptable with Proof-of-Stake (PoS) blockchain. Interacting with the IBC protocol requires chains to have a consensus mechanism that offers fast finality, meaning that Cosmos cannot use IBC for asset transfers between proof-of-work blockchains like Ethereum and Bitcoin. In order to bypass this shortcoming, Cosmos introduces account-based blockchains called peg zones (Peggy) and offers fast finality through implementing finality thresholds to blockchains with probabilistic finality.

  • Feature

The vision of Cosmos is to make it easy for developers to build blockchains and break the barriers between blockchains by allowing them to transact with each other. The end goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way. With Cosmos, blockchains can maintain sovereignty, process transactions quickly and communicate with other blockchains in the ecosystem, making it optimal for a variety of use cases.

  1. Staking
  2. Voting
  3. Interchain Accounts
  4. Gravity DEX
  5. Gravity Bridge
  6. Interchain Security

More details can be checked here: https://cosmos.network/features

  • Network Status

https://www.mintscan.io/cosmos

  • Roadmap

In 2016, Tendermint co-founders Jae Kwon and Ethan Buchman released the white paper “Cosmos: A Network of Distributed Ledgers” describing a new protocol for connecting blockchains. Later that year, they launched the Interchain Foundation to shepherd development of Cosmos.

In 2019, Cosmos launched an initial version of the project as well as the Cosmos Hub, the first blockchain operating on the protocol.

Kwon and early Cosmos contributor Zaki Manian went through a highly publicized feud, leading the members of Cosmos’ founding team to go their separate ways with three companies.

In early 2021, Cosmos launched the Stargate upgrade, activating IBC, a critical piece of the project that connected hundreds of Cosmos’ blockchains together for the first time.

More information and planning can be check here:

https://hub.cosmos.network/main/roadmap/cosmos-hub-roadmap-2.0.html

  • Staking Pool

Mintscan – Chain explorer by COSMOSTATION

Cosmos chain explorer powered by Cosmostation, Block explorer for Cosmos-SDK based networks made with love &…

www.mintscan.io

Creator Team

Ignite ((formerly Tendermint) is the creator team of the Cosmos Ecosystem.

Founders: Ethan Buchman, Jae Kwon

Cosmos LinkedIn Home:https://www.linkedin.com/company/ignt/

Details of Employees

https://www.linkedin.com/search/results/people/?currentCompany=%5B%226639645%22%5D&origin=COMPANY_PAGE_CANNED_SEARCH&sid=yAm

Main office location:Nevada,Las Vegas

Main office mode:Remote Distributed Office

Over 20+ open positions: https://www.linkedin.com/company/ignt/jobs/

Funding

  • Investors

https://messari.io/asset/cosmos/profile/investors

  • Founding Rounds

https://messari.io/asset/cosmos/profile/launch-and-initial-token-distribution

  • Founding Details

https://www.crunchbase.com/organization/cosmos-network/company_financials

  1. Cosmos Network has raised a total of $17M in funding over 7 rounds. Their latest funding was raised on May 27, 2021 from a Venture — Series Unknown round.

2. Cosmos Network is funded by 6 investors. 1confirmation and Paradigm are the most recent investors.

3. Cosmos Network has invested in Forte on Nov 12, 2021. This investment — Series B — Forte — was valued at $725M.

Technolgy

  • Code

GitHub:https://github.com/search?q=cosmos

Repositories:9K

Submit language:C# ,JavaScript,Java,Go,Python,HTML,TypeScript,CSS,Shell,Jupyter Notebook

Cumulative submitted code:106K https://github.com/search?q=cosmos&type=commits

Total number of contributors:2K https://github.com/search?q=cosmos&type=users

  • Tech Knowledge

Tendermint BFT

Tendermint BFT is a solution that packages the networking and consensus layers of a blockchain into a generic engine, allowing developers to focus on application development as opposed to the complex underlying protocol.

ABCI

The Tendermint BFT engine is connected to the application by a socket protocol called the Application Blockchain Interface (ABCI). This protocol can be wrapped in any programming language, making it possible for developers to choose a language that fits their needs.

Cosmos SDK

The Cosmos SDK is a generalized framework that simplifies the process of building secure blockchain applications on top of Tendermint BFT.

Tendermint Core

Tendermint is the open-source base layer that acts as a blockchain development platform. Anyone with an application can use this blockchain-in-a-box implementation to integrate their own decentralized/distributed network, along with their own BFT-compatible consensus model.

Inter-Blockchain Communications (IBC)

The next layer is the interconnectivity layer that enables communication between all the individual chains. This creates a series of interconnected zones and hubs that act independently, yet share a common system architecture. This is the key layer for token, data, and digital asset exchanges across chains.

  • Tech Advantages

Modularity

The goal of the Cosmos SDK is to create an ecosystem of modules that allows developers to easily spin up application-specific blockchains without having to code each bit of functionality of their application from scratch. Anyone can create a module for the Cosmos SDK, and using ready built modules in your blockchain is as simple as importing them into your application. For example, the Tendermint team is building a set of basic modules that are needed for the Cosmos Hub. These modules can be used by any developer as they build their own application. Additionally, developers can create new modules to customize their application. As the Cosmos network develops, the ecosystem of SDK modules will expand, making it increasingly easier to develop complex blockchain applications.

Capabilities-based Security

Capabilities constrain the security boundaries between modules, enabling developers to better reason about the composability of modules and limit the scope of malicious or unexpected interactions.

Ecosystem

  • Technologies

https://www.crunchbase.com/organization/cosmos-network/technology

  • Ecosystem Programs

There exists more than 70 programs in the cosmos ecosystem: https://coinmarketcap.com/view/cosmos-ecosystem/

Economic Model

  • Distribution

The Interchain Foundation ran multiple private investment rounds, and a public fundraiser event ended on April 6, 2017. The foundation categorized recipients of these minted ATOMs into four different blocks: Private Contributors, Public Contributors, All in Bits Inc (AiB), and the Interchain Foundation (ICF).

The strategic and early adopters received 7.1% of the initial supply equivalent to 16,856,718.97 ATOMs, in exchange for their contribution of $1,329,472.3.

The seed contributors received 5% of the initial supply, equivalent to 11,809,947.91 ATOMs in exchange for $300,000.

The public contributors received 67.9% of the initial supply, equivalent to 160,293,050 ATOMs, in exchange for $16,029,305.06 collected in BTC or ETH.

All in Bits Inc (Tendermint Inc.) received 10% of the initial supply equivalent to 23,619,895.81 ATOMs for developing the open-source IP that is used in Cosmos Network.

ICF received 10% of the initial supply equivalent to 23,619,895.81 to pursue their R&D activities for Web 3.0. In total, 236,198,958.12 ATOMs were allocated at genesis to 984 accounts.

  • Token Functions

ATOM is the native token of Cosmos Hub, the PoS blockchain that constitutes one of many hubs on the Cosmos network. Since the PoS consensus mechanism requires validators to own ATOM to participate in the validation process, the main purpose of ATOM is the security and sustainability of the Cosmos Hub network. ATOM owners can stake their tokens to ensure network security, and in return, get a portion of the network transaction fees and block rewards distributed for validation. The token is also necessary for taking part in Cosmos Hub governance. ATOM owners can delegate their tokens or actively take part in governance by holding ATOM in their wallets.

  • Inflation Rate

Atom’s targeted annual inflation rate is recalculated every block. The inflation is also subject to a rate change (positive or negative) depending on the distance from the desired staking participation ratio, currently fixed at 67%. The annual inflation is capped as between 7% and 20%. If more than ⅔ of the Atoms are being staked, atom block rewards decrease gradually down to a floor of 7% annualized inflation. If less than of the Atoms are being staked, atom block rewards increase gradually up to a ceiling of 20% annualized inflation.

  • Where to buy ATOM

Cosmos (ATOM) is currently available for purchase on the following exchanges:

Uphold — This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.

Binance — Best for Australia, Canada, Singapore, UK and most of the world. USA residents are prohibited from buying most tokens. Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

KuCoin — This exchange currently offers cryptocurrency trading of over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens. This exchange currently accepts International & United States residents.

Gate.io — This exchange was established in 2013, and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia, Canada, & the UK. USA Residents are prohibited.

Huobi Global — Established in 2013, Huobi Global has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion. It should be noted that Huobi Global currently does not accept USA or Canadian residents.

WazirX — This exchange is part of the Binance Group, which ensures a high standard of quality. It is the best exchange for residents of India.

Competition

https://www.crunchbase.com/organization/cosmos-network/org_similarity_overview

Validator

Official Docs Description

The top 150 holding addresses can become its validators: https://hub.cosmos.network/main/validators/overview.html

As of 2022–4–8, the last verified ATOM number of active nodes is 68,264 (US$27.03/ATOM). https://www.mintscan.io/cosmos/validators

  • Validator Docs

Validators Overview

Validator FAQ-Cosmos Hub

Running a Validator

Validator Security

  • Reference

Join the Cosmos Hub Mainnet

Join the Public Testnet

Upgrade Your Node

Deploy Your Own Gaia Testnet

Related Readings

  • Selected Media Articles

What’s Coming to Cosmos in 2022?-2021.12.23

COSMOS: THE FUTURE OF BLOCKCHAIN INTEROPERABILITY-2022.1.3

Why I Am Investing In Cosmos In 2022, And Why An “ATOMic” Explosion Is Incoming-2022.1.11

Cosmos HUB and the Future of Shared Security-2022.1.12

What’s Happening in the Cosmos Ecosystem?-2022.3.24

  • Research

https://messari.io/asset/cosmos/research

____________________________________________________

About BlockPower

Our Staking Services

Why Choose Us to Manage Your Assets

  1. We have started 7/24 staking services since 2018, and have managed over $100 million assets.
  2. We run highly available and redundant nodes in different data centers to achieve continuous operations.
  3. We are actively participating in community and governance, disclosing information frequently.

Website 丨MediumTwitterDiscord

Leave a Reply

Your email address will not be published.