The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred?

3 month 14 day as early as 7, with the first official launch Hub, Cosmos in the two years after the end of the line network delay.

At present, Internet users will not be able to block chain exchange between token or otherwise with the existing block chain network connected to the Cosmos Hub, until a formal vote called verifier activation block communication protocol (IBC).

In the official broadcast, members wearing a spacesuit to celebrate Cosmos (the universe) the high light moment, V God also expressed congratulations to this project by Jsh Stark retweeted tweets. At present still Everfount mining block, as of press time ago, the block height has reached 4022.

 The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred?

The main line is a programming and development of painting in recent three years Cosmos paragraph period.

Before the cross chain, each chain chain block is a public Island, unable to communicate with each other, and only a small number of things per second. And by supporters as the blockchain 3 version of the Cosmos is aimed at the heterogeneous network located in a cross chain interaction, to break the chain between the public closed and fragmented state, realize the tenet “blockchain value of Internet”, has been regarded as a representative of the cross chain technology project.

The concept of the summer of 2016, Cosmos launched the blockchain interoperability platform, the Tendermint team in June 2017 through the ICO raised $about 16000000 (250 thousand ETH and 4870 BTC); February 2018 launched Cosmos software development kit (SDK); the latest Cosmos figure, is the currency of public security chain Binance Chain announced will be built on the Cosmos Tendermint protocol, using DPoS and BFT consensus, the center will be based on the cross chain exchange DEX protocol Cosmos.

GitHub active on the doomed its not a flower shelf in the GitHub Consensys project, according to the data collected, this month Cosmos GitHub updated 5763 times in the code, update the GitHub block chain project second times, before the project code were also maintained a new high frequency.

Then, the head block chain technology 3 “aura, V focuses on design idea of the Cosmos God is what? How to realize the interconnection between the public chain? It is necessary to explain one by one.

Why is the blockchain 3?

Cosmos believes that a block chain should have three aspects of network consensus and application.

Let’s go back to the beginning: bitcoin blockchain story, Nakamoto created this point to point digital currency in 2008, and used a method called proof of work (PoW) of the new consensus mechanism. This is the first application to the center of the block chain. Soon, people began to realize that to the center of the application (DApp) potential, and in the community to build new applications come up.

At that time, the development to the center of the application has two options: bifurcation bitcoin code library or build on top of it. However, bitcoin code is very simple, including the network, three levels of consensus and application of mixed together. In addition, bitcoin scripting language is limited, is not friendly to developers.

The etheric Fang came into being. 2014, Ethernet Fang put forward new advocates the establishment of decentralized applications. Ethernet through application layer changes the name of Fang Fang for Ethernet virtual machine (EVM) to achieve this goal. The virtual machine can be called intelligent contract processing procedures, any developer can deploy custom logic. This new method allows thousands of developers to build distributed applications. However, its limitations are also highlighted, and very similar to bitcoin, Go-Ethereum is still a monolithic stack, it is difficult to bifurcation and customization.

  • 1: Scalability

The first limitation is scalability, in the construction of the etheric Fang DApp over limited sharing rate is limited to 15 transactions per second. This is because the etheric Fang still use POW, and Ethernet Fang DApp competition is a limited resource of single chain block.

  • 2: limited availability

The second limitation is granted developers relatively low flexibility. Because EVM is a need to adapt to all cases sandbox, so it is optimized in the average case. This means that the developers have to compromise design and efficiency in its application on (for example, require the use of the account model, in which the preferred payment platform in may UTXO model). In addition, they are limited to a programming language, automatic execution cannot achieve code.

  • 3: Sovereignty

A third limitation is the sovereignty of each application are limited, because they all share the same underlying environment. Essentially, this creates a management layer: the application layer and the bottom layer of the environment. The former is the limit. If there is an error in the application, there is no need to approve the etheric Fang platform itself is unable to complete any operation management. If the application needs the new features of EVM, it must rely entirely on the Ethernet management platform to accept it fang.

These restrictions are not specific to the etheric square, but all are trying to block chain for the creation of a single platform for all cases. This is the Cosmos work.

Cosmos’s vision is to make it easier for developers to build block chain, and by allowing the blockchain trading with each other to break the barriers between the chain block. The ultimate goal is to create a block chain of Internet, this is a block chain network can communicate with each other in a decentralized manner. This vision is through a series of open source tools to achieve the Tendermint, Cosmos, SDK and IBC.

 The main line on the first day, and EOS for 3.0 by the V block chain, God is concerned of the Cosmos project is where sacred?

Cosmos Tendermint, Core BCI, Cosmos SDK

As a key tool in Cosmos, it is necessary to know the use of these three tools.

  • Tendermint Core

Tendermint Core is a kind of solution, it will block the chain network layer and layer packaged into a general consensus engine that allows developers to focus on the underlying protocol in the application layer rather than complex.

The Cosmos layer is one of the characteristics of consensus. Tendermint Core uses the Byzantine consensus algorithm + POS. This idea in 2014 by founder Jae Kwon – the earliest study – published Byzantine fault tolerant “Tendermint:” the non mining consensus.

In Tendermint, nodes can verify the dynamic change, and the creation of the occasion of verification of 100 nodes, the selection criteria for the top one hundred node ATOM pledge, the annual rate of increase to 13%, after 10 years of stability for 300 nodes, ensure the performance optimization.

Cosmos believes the advantages of Tendermint Core is that public or private chain chain can be deployed on the Tendermint; Tendermint can handle tens of thousands of transactions per second; once the block is created, the user can rest assured to confirm the block to reach a consensus, more than 1/3 of the verification is honest (Bai Zhanting), will never create a branch; in addition Tendermint, the bifurcation can let us clear accountability responsibility branch.

  • Cosmos SDK

Tendermint Core will block the chain from a few years to shorten the development time for several weeks, but from the beginning to build secure ABCI applications is still an arduous task. This is the reason for the existence of Cosmos SDK.

Cosmos SDK’s goal is to create a module ecosystem, each function allows developers to write applications without starting from scratch, but you can create a new module from the definition of its application. These modules cover most of the application layer required functions, such as: staking (mortgage mechanism) and slashing (penalties) and IBC (cross chain function), account accounts, governance, reward & fees.

The advantages of Cosmos SDK is its modularity allows developers on Golang transplantation basically any existing block chain code library. For example, Ethermint is a virtual machine to transplant Ethernet Fang SDK module project, Ethermint and Ethernet square is exactly the same, all the properties but also benefit from Tendermint Core. All the existing Ethernet square (Truffle, Metamask) tools are compatible with Ethermint.

  • IBC

The connection between the chain block is called a block through the communication protocol (IBC) protocol implementation. The end of the IBC using Tendermint instant consensus to allow heterogeneous chain token or data transfer.

For example, a chain on the A account you want to send 10 token (called Atoms) to start the chain B, IBC transmission, Atom is locked in a chain A (binding).

 The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred?

Then, the lock will be 10 token evidence from A to B. forwarding chain chain

 The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred? The evidence is verified in B chain if effective, creating 10 token documents in the B chain. The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred? Note that B token created in the chain is not the token, because token only exists in the chain A. They are from the chain A token was frozen in the A chain of evidence. When Atoms returned to the original chain, will use a similar mechanism to unlock Atoms.

How to create a block chain network?

IBC is a heterogeneous block chain allows two token transfer protocol. So how do we create the blockchain network?

One idea is through direct IBC connection will each block chain in the network connected to each other. The main problem with this approach is the number of connections in the network as the number of blocks is two way chain growth. If there is a 100 block chain network, and each block chain need each other to keep the IBC connection, which is the 2 of 100, namely 4950 connections, it is easy to control.

In order to solve this problem, Cosmos proposes a modular architecture: Center Network (Hub) and regional spatial network (Zone). Hub is a cross link in the center of all cross chain transactions are unified by Hub; Zone is a different sub chain. Zone connected together through IBC protocol and Hub, different to each other across the chain chain transactions, only through the Hub proxy can be completed.

 The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred?

Hub first launched in Cosmos in Network will be Cosmos Hub. Cosmos Hub is a public POS block chain, the native token called Atom, the launch of the Hub will also mark the launch of Cosmos network.

Above, the show is based on how the Tendermint engine block chain Internet consensus. Cosmos but not limited to. In fact, any type of chain blocks can be connected to Cosmos.

Cosmos distinguishes two types: chain with a real-time deterministic chain (FAST-FINALITY CHAINS) and the concept of chain end (PROBABILISTIC-FINALITY CHAINS)

As long as the former adaptation of IBC can access the Cosmos network ecosystem; the latter to the POW consensus chain as the representative, the situation is relatively complex. Cosmos for the cross chain demand, on the basis of the Zone launched a new Peg-Zone component. Peg-Zone is actually a proxy chain, used to track the state of the original chain.

Peg-Zone need to set a rule, use this rule to confirm the certainty of the block, which added 100 new blocks in the current block, the current block is stable, can be regarded as deterministic guaranteed, no splitting.

Suppose you want to make a Peg-Zone Ethernet square, you need to first in the etheric workshop deploys a smart contract. The user wants to turn the etheric Fang 100 token to Cosmos, the token is turned into the inside of the intelligent smart contracts, contracts will freeze the 100 token, guaranteed in the deterministic (i.e. the current block adds 100 new blocks) after the agent chain on Peg-Zone began to release 100 agent token.

Interestingly, Peg-Zone also allows the user to exist on Cosmos any token sent to the Ethernet square chain (Cosmos token will be denoted as ERC20 in the etheric Fang chain). The Tendermint team is currently working on the etheric Fang chain Peg-Zone, called Peggy.

 The main line on the first day, with EOS for 3 V block chain, God is concerned of the Cosmos project is where sacred?

summary

In general, Cosmos 3 points:

The modular function of 1, Cosmos Core and Cosmos SDK Tendermint, the powerful and easy development of chain block.

2, Cosmos block chain can through the IBC and Peg-Zones transfer value, while allowing them to maintain sovereignty.

3, Cosmos allows block chain application by the vertical and horizontal scalability solutions are extended to millions of users.

The most important thing is that Cosmos is not a product, but a module based on a series of ecological system, adaptability and interchangeable tools.

economic model

Here we understand the basic structure and characteristics of the COSMOS project, now let’s talk about the Cosmos key token.

Compared to the EOS mortgage tokens can only get the blockchain resources (RAM, GPU, NET), Cosmos (Atom) holds the token holding money can generate additional revenue through the pledge pledge period Atom Atom, into the locked state to transaction time is about 3 weeks. After unlocking Atom will restore liquidity.

Atom uses the inflation model, the first year of 7% for additional nodes and other types of rewards, placement ratio will be based on the annual 2/3 mortgage equity Volatility: if the total mortgage equity less total supply of Atom 2/3, the inflation rate will rise to 20%; if the total mortgage equity supply more than Atom of the total 2/3, the inflation rate will be reduced, until 7%.

The pledge of the former 100 star Atom the number of nodes to gain, become verified, which is divided into holding gains and transaction income.

Holding gains: Atom will continue the issuance, distribution and verification in accordance with the node holding agent ratio of Atom. In addition, verification of the node can be set as a percentage of agency fee, to more Atom from the total dividend income.

Trading revenue: Cosmos on Hub transfer with transaction costs. These transaction costs can pay in any currency on the list of approved white governance. According to the cost of mortgage equity ratio is assigned to the Atom holder. The main line, the cost of token white list choice for the Atom and Photon (double token model Cosmos. Photon is a function of token except Atom).

In addition to Atom, the Cosmos space can issue their own tokens. The space inside the nodes can also go to the distribution of tokens according to the POS model of fees and dividend income.

At present, Atom is not trading, according to the official Cosmos announcement, Cosmos network in phase two was officially opened trading function. Cosmos network at the start of the first stage is to maintain stability, because the main unstable when Cosmos have some fatal flaws, can rollback way to fix vulnerabilities before returning to a block, even back to the creation of blocks, the transaction for the effect is that the number of transactions of any chain according to the in phase one may disappear because rollback.

Reference material´╝Ü

1. “ What is Cosmos”? ?

Two Cosmos white paper

3. “ A Blockchain to Connect All Blockchains, Cosmos Is Now Officially Live

4. dialogue Cosmos: the future is all in a chain or public, everyone has their own chain?

5, Cosmos main line Trilogy

6, Cosmos / ATOM Staking Guide

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