The Cosmos Blockchain network is a scalable ecosystem that aims to build interoperability among different blockchain protocols. Cosmos is loaded with blockchain tools that will bring about application-specific interoperability among the blockchains.
Some of the components of the Cosmos ecosystem are discussed below:
- Cosmos Software Development Kit or SDK: This framework helps developers to build and launch their own application-added blockchains.
- Tendermint: Implementation of Tendermint core, a BFT consensus protocol.
- IBC: IBC helps blockchains to communicate and relate to each other.
- Cosmos Hub: Cosmos Hub is a blockchain that is part of the whole Cosmos network ecosystem. It keeps a record of the total number of nodes in each zone.
Features of Cosmos Blockchain:
- Cosmos is highly scalable. The Tendermint core can speed up the transactions to about thousand transactions per second and at the same time allows interaction of several chains through IBC.
- The IBC protocol allows interoperability or interaction between specialized chains and helps them to communicate with each other.
- All blockchains in the ecosystem will retain their governance power and their own set of rules. This will prevent conflict between the blockchain communities. Cosmos Hub will also be controlled by the ATOM token holders through voting rights.
- The Tendermint Core saves hours of development time and helps developers to create and deploy their applications easily. Developers can write their own consensus protocol in their own preferred language and can build both private and public blockchains.
- Cosmos is highly secure. Tendermint instantly finalizes each transaction. Moreover, malicious validators are eliminated.
- Cosmos Hub is maintained by the Bonded Proof-of-Stake consensus mechanism through which users can earn additional tokens on the basis of the stakeholding. Validators and delegators can also earn interests on the basis of their service. BPoS also ensures energy efficiency throughout the network.
- ATOM is the official token of the ecosystem.
Best Cosmos Wallets:
Guarda Wallet
Guarda is a multi-signature HD wallet which supports multiple cryptocurrencies. Currently it supports 45+ chain coins and 10k+ tokens and provides staking option for CLO, KMD and XTZ. Guarda wallet comes in Web, Mobile, Desktop and Chrome extension versions. Users can buy and sell crypto coins with the help of bank card. It offers full user control over private keys.
Cobo – Android, iOS
The Cobo wallet is an all-in-one mobile wallet available both for Android and iOS phones. The HD wallet supports multiple currencies. It supports more than 20 chains and 700 tokens. There are also reward schemes for Cobo wallet holders through PoS and PoW coins. Cobo also hosts some of the most powerful global dApps.
Cosmostation – Web, Android, iOS
The Cosmostation wallet supports Android OS 6.0 devices. The wallet supports ATOM, IRISnet, Terra, and Tendermint-based blockchains. The wallet is highly secure and all your passwords and PIN codes are saved in your device only. The passphrase is encrypted in your device through a secret password for your safety. The wallet does not store any data or information of the user.
Huobi Wallet – Android, iOS
Huobi is a mobile wallet that can be downloaded easily into your Android or iOS phones. The wallet is a multicurrency wallet and supports coins like BTC, EOS, ETH, LTC, ONT, and TRX as well. Professional and safe, the users maintain full control of the private keys. The interface is very simple with a one-click exchange facility. The wallet supports dApps browsing and allows multiple access facilities.
imToken – Android, iOS
imToken mobile wallet supports multiple currencies and allows multi-chain asset management. You can seamlessly exchange your tokens through the wallet. All your funds are stored in cold storage. Developers can choose from a wide range of dApps that are available in the wallet itself including TokenIon SDK and DApp SDK.
Lunie – Web
The Lunie web wallet allows ATOM delegation and token rewards easy and smooth. You can now have full control of your funds and private keys. Lunie never stores your private keys or seed phrase. To use this wallet, users need to download and set up the Ledger Cosmos App first.
Math Wallet – Android, iOS, Web
Math wallet supports Android, iOS, and chrome browser extensions. The wallet supports multiple currencies like BTC, ETH, and EOS. The wallet is also highly secure and is based on the biological recognition technology for protecting your funds.
Trust Wallet – Android, iOS
Trust Wallet is a mobile wallet and can be downloaded into your Android and iOS phones. Trust is also the official crypto coin of Binance platform. The wallet is protected by multiple layers of protection. Trust supports multiple cryptocurrencies like ETH, ETC, POA, Go, etc. All your data and information are stored safely within your device and none is accessed by the wallet. The Web3 browser will help you to access dApps through the wallet.
Wetez – Android, iOS
Wetez is a multi-chain mobile wallet that supports PoS tokens. You can now earn through staking through PoS blockchain networks. The wallet has a validator market where authorized validators can take part thus offering multiple choice for staking rewards.
