“Each blockchain is powered by a BFT consensus algorithm”īFT is short for “Byzantine Fault-Tolerant.” A blockchain that’s Byzantine Fault-Tolerant can guarantee certain properties like “safety” and “liveness” despite having some computers in the network which are faulty and/or malicious (i.e., Byzantine). If this doesn’t make complete sense, it would be prudent for you to read up some more on the basics of blockchain before going further. Together, all of these computers form what is known as a “blockchain network.” In other words, every computer has the same exact data. The database maintains the same state across each computer. In simple terms, a blockchain is a database that’s replicated across many computers. You’re probably familiar with what a blockchain is by now, right? Of course you are! Still, let’s do a quick refresher: "Decentralized network of independent parallel blockchains" Woah, that’s more than a mouthful! Let’s break this definition down into easy-to-digest pieces. “A decentralized network of independent parallel blockchains each powered by a BFT consensus algorithm like Tendermint consensus.” It’s going to be a wild ride! What is Cosmos? I want to give readers a high-level understanding of what it is and the purpose it’s trying to serve in the crypto world.Īre you ready to begin? Clear your mind. So I’ve decided to dedicate an entire post to it.
With that being said, there’s still a ton of confusion surrounding Cosmos. (Note: I’ll write about this decision more extensively in a future post) I was so enamored by Cosmos that we decided to build the TruStory application as a Cosmos blockchain application. And I’m not just saying this for dramatic effect. When I first heard about what they were doing, I was honestly just as clueless as others about its concept.īut once I took a deeper look into it, I began to appreciate it, a lot. I’ve known the Cosmos team for almost two years now. How does it compare to Bitcoin or Ethereum? A quick glance only leaves them with more questions than answers: So it’s no surprise that many people look at Cosmos and don’t understand it. When it comes to blockchains, Cosmos is the “new kid on the block.” While it’s been around for some time now, the team has been slowly building it out in the background to get it right. This has resulted in an array of new decentralized systems and financial primitives: Ethereum, Lightning Network, EOS, Tezos, Maker… The list is now endless.
Since then, Bitcoin has become the catalyst for a much broader movement of crypto innovation.
Bitcoin circumvented this by creating the first-ever “trustless” system. What was once believed to be impossible was now real: The first ever peer-to-peer (P2P) payments network.Įven today, trust in anything remains the most elusive and rarest asset. When it first came out, everyone thought Bitcoin was the holy grail of digital currencies. It all started with the launch of Bitcoin in 2009.
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