In the blockchain world, scalability and interoperability have always been one of the important problems to solve. Besides, even after over 11 years starting from the primary BTC blockchain, there are various choices that have arisen with regards to interoperable blockchain networks. With regards to Cosmos, it is viewed as one of the most well-known choices with its open-source engineer apparatuses and Tender mint consensus mechanism. Today in this blog we'll explore exactly why Cosmos is considered a popular choice as well as how it allows blockchains to work together more easily. Do you know that Simplifying the Technicalities for novices is a possibility? Take this opportunity now.
What is Cosmos (Atom)?
Cosmos is in the form of a network in the blockchain network. In any case, the idea is alluded to by the developers as the “Internet of Blockchains”. The main objective of this task is to permit different blockchains to speak with one another seamlessly. Furthermore, Cosmos also enables the marketplace to turn friction into a positive driving force for growth, by allowing anyone in the market to share data, communicate across blockchains, and transact with one another. However, Cosmos turns out to be much more than a bridge between blockchains. This platform is considered to be an impressive option in the market, mainly because of its full suite of features and products.
How Cosmos (ATOM) works.
Cosmos normally utilises different exclusive open-source devices to work with interoperability between blockchains in its network. Wherein the convention independently screens the condition of each blockchain in the network to safely achieve this securely. Visually, in the Cosmos ecosystem, each network appears as a region.
Cosmos Hub is a protocol that acts as an intermediary where all the blockchains come together. Furthermore, each region of the network connects directly to the hub itself. After which a continuous record of the current status of the zone is maintained through the hub. Subsequently, when a zone is completely associated with the cosmos Center point, it becomes interoperable with each and every zone in the network during that time.
Zones are viewed with the full functionality of the network. One of the important things though is that these blockchains are completely independent networks where you can execute any transaction required to complete any kind of task.
Layers Of The Cosmos
The Cosmos ecosystem typically relies on three layers to hold the entire blockchain industry together. One of which is the application layer. Through which processing transactions are handled. Aside from this, being a decent protocol for checking the network status is likewise thought of.
Whereas the second layer of blockchain is networking through which different blockchains are allowed to communicate. Using this system as a complete consensus mechanism, different blockchains with different technologies and purposes can take advantage of each other's services. The third layer is the consensus protocol. Cosmos typically uses the Tendermint BFT engine. Through this mechanism, the network is secured and it also helps in maintaining the current state of the nodes. However, to be specific, protocols are the ones that play a vital role in validating transactions as well as adding blocks to the blockchain.
How to store cosmos (ATOM)?
When it comes to storing ATOM, it can be easily stored, for which you can choose desktop or mobile wallet options like atomic wallets. These are easy-to-navigate options that allow you to access ATOM. Also, if you are considering making a big investment in ATOM or want to keep HODLing this crypto for a long time, then a hardware wallet can be one of the best options for you. Crypto in this wallet can be stored offline in “cold storage”. With the help of this strategy, you can make it impossible for threats like online to access your holdings.