CHAPTER 11

Cosmos

“Transaction fees on OSMOSIS and COSMOS are going to be so

much cheaper than PoW, I’m betting that trading bots and their

market volumes will quickly move over to the Cosmos ecosystem,

once they figure it out.” - Jae Kwon, Founder and CEO of

Tendermint, co-creator of Cosmos

Launched: March 2019

Native token: ATOM

Market Capitalization: $7.7B

Smart Contract languages: Rust

In this chapter, we will explore the 2019 launched interoperable

Blockchain network Cosmos that has become a very popular option

for DApps. The goal of Cosmos is to build an “Internet of

Blockchains” platform, using which, different Blockchain protocols

can communicate with each other independently.

11.1 Consensus Model – Proof of Stake

Tendermint

The Cosmos network is composed of three different layers, namely

application, network, and consensus, which are explained as follows:

1. Application layer is the topmost layer that handles the

transactions and keeps the information updated on the network.

2. Networking connects the transactions to all the Blockchains.

3. Consensus helps all the nodes to agree on a common state of

the system.

Refer to Figure 11.1, that illustrates the Cosmos network, as follows: