Hub History
The Cosmos Hub Blockchain was launched in March 2019 after a successful Initial Coin Offering (ICO) that raised $17 million in funding. The Cosmos project was started by Jae Kwon, who is also the CEO of Tendermint, and Ethan Buchman.
Since its launch, the Cosmos Hub has seen steady growth in its ecosystem. As of April 2023, there are over 200 projects built on the Cosmos SDK, the main development framework for building blockchains like the Cosmos Hub. These projects include blockchain-based games, decentralized finance (DeFi) applications, and social media platforms.
Hub Technical Facts
The Cosmos Hub is built on Tendermint, a consensus engine that uses a Byzantine Fault Tolerance (BFT) algorithm. Tendermint provides a high level of security and reliability to the Cosmos Hub Blockchain, enabling it to process thousands of transactions per second.
The Cosmos Hub uses a Proof-of-Stake (PoS) consensus algorithm, where validators stake their ATOM tokens to participate in the consensus process. Validators are responsible for validating transactions and adding blocks to the blockchain. The Cosmos Hub Blockchain has a block time of five seconds, allowing for faster confirmation times and reducing the possibility of double-spending attacks.
One of the unique features of the Cosmos Hub Blockchain is its ability to communicate with other blockchains through the Inter-Blockchain Communication (IBC) protocol. IBC allows different blockchains in the Cosmos ecosystem to exchange value and data securely and efficiently. The Cosmos Hub acts as the center of the network, facilitating communication between different blockchains.
Hub Tokenomics
The native token of the Cosmos Hub Blockchain is called ATOM, and it is used for staking, transaction fees, and as a means of exchange between different blockchains in the Cosmos ecosystem. The total supply of ATOM is capped at 236,173,406 tokens, and the current circulating supply is around 190 million tokens.
ATOM holders can stake their tokens to participate in the consensus process and earn rewards for validating transactions. The current annual yield for staking ATOM on the Cosmos Hub is around 10%.
Atom Economic Zone (AEZ)
The Atom Economic Zone (AEZ) is a transformative initiative within the Cosmos ecosystem, aiming to foster a symbiotic relationship between various blockchains and the Cosmos Hub. Blockchains within the AEZ maintain partial sovereignty while also benefiting from the security and infrastructure of the Cosmos Hub. This relationship is facilitated through the innovative Interchain Security mechanism.
Interchain Security
Interchain Security is a groundbreaking mechanism that allows validators of a provider chain, such as the Cosmos Hub, to use their stake (e.g., staked ATOM) to concurrently participate in the consensus of a Consumer Chain. The introduction of Interchain Security has been a significant milestone for the Cosmos community, promising to expand the interchain ecosystem by providing a robust security framework. This framework is meticulously designed to ensure the utmost protection of both new and existing sovereign app-specific blockchains.
Benefits for Chains and ATOM Stakers
Chains that join the AEZ primarily benefit from enhanced security. The Cosmos Hub, being a top-tier blockchain in terms of market capitalization, offers security levels that would typically be associated with much larger chains. In return for this security, ATOM stakers receive the new chain’s native token as a reward, in addition to ATOM. This base-level trade-off involves chains compensating with their native token, while the Hub reciprocates with security. However, individual arrangements often extend beyond this base level, with unique value propositions negotiated between the Hub and the joining chain.
Future Prospects
The AEZ represents a paradigm shift in how blockchains interact and collaborate. By offering shared security and fostering mutual growth, the AEZ is set to play a pivotal role in the evolution of the Cosmos ecosystem and the broader interchain universe.
$ATOM Wallet Support
There are several wallets that support ATOM, including Keplr, Cosmostation, Leap and Ledger. Keplr is a multi-chain wallet that supports ATOM and other cryptocurrencies on the Cosmos network. Cosmostation is a mobile wallet that allows users to send and receive ATOM and other cryptocurrencies on the Cosmos network. Ledger is a hardware wallet that supports ATOM and other cryptocurrencies, providing users with an extra layer of security for their digital assets.
Conclusion
The Cosmos Hub Blockchain is a decentralized network of independent parallel blockchains that allows for highly interoperable custom-built blockchains. The Cosmos Hub Blockchain is built on Tendermint, a consensus engine that provides high security and reliability. One of the unique features of the Cosmos Hub is its ability to communicate with other blockchains in the Cosmos ecosystem through the Inter-Blockchain Communication protocol. The native token of the Cosmos Hub is ATOM, which is used for staking, transaction fees, and as a means of exchange between different blockchains in the Cosmos ecosystem. There are several wallets that support
