![]() Each zone is connected to central blockchains that are referred to as hubs. These blockchains are referred to as zones. The network of Cosmos is constructed out of parallel blockchains. ![]() Peng Zhong stepped into his place as the CEO of the project.īesides, Jae Kwon, Zarko Milosevic, and Ethan Buchman also developed the Interchain Foundation, which is a non-profit organization that’s in charge of the development of the Cosmos network. Jae Kwon was the CEO of Tendermint, however, he gave away his position in 2020, remaining only the principal architect of the project. ![]() Tendermint is an open-source blockchain launcher that enables you to create applications in any language. They are also the founders of Tendermint, which is the main contributor to the Cosmos network. The founders of Cosmos are Jae Kwon, Zarko Milosevic, and Ethan Buchman. A year later, the initial token sale was held. The Cosmos whitepaper was released in 2016. It provides the Cosmos ecosystem with a strong interchain infrastructure, linking various blockchains and enabling transactions amongst a web of interconnected chains. In order to simplify communication between blockchains within Cosmos, it employs the Inter-Blockchain Communication (IBC) protocol. Exactly for this reason Cosmos is often referred to as Blockchain 3.0. However, the major goal of the project is to create a network of as many blockchains as possible which would allow them to easily communicate with each other. It achieves that by providing them with a modular framework. In addition to that, the Cosmos crypto project aims to simplify blockchain technology for developers. This involves slow and costly transactions as well as networks that are not environmentally friendly or scalable. If you’re wondering about the current Cosmos price, check out the ATOM price chart above.Ĭosmos is aimed at solving issues created by the Proof-of-Work consensus mechanism. ATOM is the native token of Cosmos, which is a network of independent blockchains.
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