Crypto / decentralization

Learn about what the Cosmos Network is all about and what they are doing to construct a fast, secure, and diverse Web 3 community. Wikimedia Cosmos is an expanding ecosystem with almost 300 interconnected apps and services working together in order to build a decentralized Web 3 future. Cosmos utilizes an innovative Inter-Blockchain Communication protocol (IBC) which allows users to freely exchange assets and data across individual sovereign decentralized blockchains. This means that if the Scorum team moves our apps over to the Cosmos network we can retain our own tokenomics and blockchain governance while still taking advantage of the connectiveness designed into the Cosmos network. This is in contrast to some of the other Web 3 constructs where moving to another network would mean giving up all or part of our autonomy and possible having to change our tokenomics to account for fees or other expenditures. The design of the Cosmos network will also allow Scorum applications to grow and scale without being forced to compete for resources with other applications in the network. Scalability has huge implications for future adoption, and networks that are not able to cost effectively scale up to meet the rapidly growing demand that future public retail adoption will bring are doomed to fail. The fully decentralized nature of the Cosmos network will help guarantee that content creators on Scorum will be able to continue enjoying blogging and socializing together free from censorship by any centralized authority. On Scorum, content is censored by our staking community through the power of negative voting, no post can be forcibly removed, posts that receive large amounts of downvotes from the community will simply not appear on community feeds. In such cases the author remains solely responsible for the content of their own posts and any liability that may be incurred. By being on Cosmos it would be easy for us to create NFT's and move them not only between games and marketplaces on the Scorum network, but potentially into games and marketplaces on other completely different blockchain networks. There are a lot of blockchain projects already on the Cosmos network and our ability to connect with each of these networks will be much simpler than the smart contract method used by other networks with their inherent vulnerabilities that have so often been in the news. Some of the notable chains that you might be familiar with besides the top 10 listed in the graphic above include; Binance Smart Chain Crypto.com Dash Evolution KuChain THORChain Nym Protocol Just to name a few, and there are projects underway to enhance cross chain compatibility with Ethereum, Polygon, Bitcoin, USDC, and more. At the center of the network is the Cosmos Hub chain with its native coin ATOM. Those blockchain projects that connect to the hub enjoy services such as shared security, decentralized marketplaces, and bridges to Ethereum and Bitcoin. pixabay We have probably all heard by now about "The Internet of Things," Well the Cosmos Network is like "The Internet of Blockchains" because it is bringing all of the various sovereign blockchains together in a way where they can all seamlessly work together toward the goal of building a Web 3 format where users can move from one specialized type blockchain application to another in the same manner and with the same ease that we currently enjoy in Web 2. One day everyone will use a Web 3 compatible browser with a single crypto wallet built in and interact with multiple blockchains and never even have to think about the underlying technology nor about having to use passwords, encryption keys, or twenty four word phrases. They will simply move from site to site visiting financial services, social media sites, gaming sites, and more with the click of a mouse. When they reach the desired Web 3 site they will already be logged in and able to start conducting business, playing games, or interacting with their friends and family without the sign-in delays that we see in our current Internet. The chances of stolen identity will also drop dramatically since our ID and log-in information will be safely stored in our encrypted Web 3 wallet. If Scorum decides to build on the Cosmos network then they would be utilizing Cosmos SDK. This service provides a framework for building multi-asset, proof of stake, application-specific blockchains that are natively interoperable and secure. This simply means that if Aviatrix is integrated as an app on Cosmos it will be operating on a blockchain specifically designed for the specific needs of that game, the remaining Scorum apps would presumably follow in the same fashion at a later date. Wikimedia I hope this blog gives some idea of what we might expect if Scorum does make the transition to the Cosmos network. In a later blog I may return to discuss other Web 3 options so that we can view some of the differences.