Latest Cosmos Hub updates on March 28th

Cosmos is a cryptocurrency project that is making its way into the enterprise world. On March 28th, Datachain, an Interchain project, revealed their technology that is enabling simultaneous execution of transactions on two blockchains: Corda and Hyperledger Iroha. The initiative is set to launch in Japan in accordance with the Payment Services Act that was revised in 2022. On March 27th, Noble was welcomed to Cosmos, a generic asset issuance chain that is aiming to bring a new wave of native assets. On March 25th, a new protocol was announced that allows different blockchain networks to communicate, and on March 24th, the mainnet was launched with a game of NFTs. On March 23rd, Babylon was seamlessly integrated with 12 leading Cosmos SDK chains, bringing Bitcoin-level security.

What is Cosmos Hub ?

Cosmos is an ambitious project, with the goal of creating an “Internet of Blockchains” to help achieve true interoperability between various blockchains. It is a project of the Tendermint team, and is an open source, decentralized technology that allows for the development of distributed applications, or dapps, and secure, inter-blockchain communication.

At its core, Cosmos is designed to be an ecosystem of independent, interoperable blockchains that can communicate with one another in a secure, trustless manner. In essence, Cosmos allows for different blockchains to communicate with one another, and also for developers to create their own custom blockchains that are interoperable with the main Cosmos network.

Cosmos is built on a consensus algorithm called Tendermint, which is an improvement on the popular Proof-of-Stake consensus algorithm. With Tendermint, validators are required to stake a certain amount of their own tokens before they can participate in the system. This helps ensure that the network remains secure and prevents malicious actors from taking control of the network.

The Cosmos network also utilizes a Byzantine Fault Tolerance (BFT) mechanism which allows for the secure transmission of information between nodes. This helps to ensure that all of the nodes in the network are operating in a secure and trustless manner.

The Cosmos platform also provides developers with a range of tools and services to help them create their own custom blockchains. Developers can use a variety of programming languages to create their own dapps, and can even deploy their own tokens and smart contracts on their own custom blockchains.

Overall, Cosmos is an ambitious project that seeks to revolutionize the way that blockchains interact with one another. It is a project that has the potential to revolutionize the way that we interact with blockchains, and could be a major breakthrough in the field of blockchain technology.

This article was published on 2023-01-29 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.