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Cosmos Blockchain Network is a scalable ecosystem that aims to build interoperability between different blockchain protocols. Cosmos is loaded with blockchain tools that will lead to application-specific interoperability between the blockchains.
Some of the components of the Cosmos ecosystem are discussed below:
- Cosmos Software Development Kit or SDK: This framework helps developers to create and release blockchains added to their applications.
- Tendermint: Implementation of the Tendermint kernel, the BFT consensus protocol.
- IBC: IBC helps blockchains communicate and relate to each other.
- Cosmos Hub: Cosmos Hub is a blockchain that is part of the entire Cosmos Network ecosystem. Keeps a record of the total number of nodes in each region.
Cosmos Blockchain Features:
- Cosmos is highly scalable. The Tendermint core can speed up transactions to about a thousand transactions per second and at the same time allow interaction between multiple threads through IBC.
- The IBC protocol enables interoperability or interaction between specialized chains and helps them communicate with each other.
- All blockchains in the ecosystem will retain their own governing authority and set of rules. This will prevent conflict between the blockchain communities. Cosmos Hub will also be controlled by ATOM token holders through voting rights.
- Tendermint Core saves hours of development time and helps developers easily build and publish their apps. Developers can write their own consensus protocol in their preferred language and can build private and public blockchains.
- Cosmos is very safe. Tendermint immediately terminates each transaction. Furthermore, malicious verifiers are eliminated.
- Cosmos Hub is maintained by a Bonded Proof-of-Stake consensus mechanism through which users can earn additional tokens based on stakes. Auditors and Commissioners can also earn benefits 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:
wallet keeper
Protect It is a multi-signature HD wallet that supports multiple cryptocurrencies. It currently supports 45+ staking coins and 10k+ tokens and offers staking option for CLO, KMD and XTZ. Guarda Wallet comes in web, mobile, desktop, and Chrome versions. Users can buy and sell cryptocurrencies with the help of the bank card. Provides complete user control over the private keys.
Kobo – Android and iOS
the Kobo wallet It is an all-in-one mobile wallet available for both Android and iOS phones. HD Wallet supports multiple currencies. Supports over 20 series and 700 tokens. There are also reward schemes for Cobo wallet holders through PoS and PoW coins. Cobo also hosts some of the world’s most powerful 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 very secure and all passwords and PIN codes are saved in your device only. The passphrase is encrypted on your device with a secret password for your safety. The wallet does not store any user data or information.
Huobi Wallet – Android and iOS
Huobi is mobile wallet It can be easily downloaded on Android or iOS phones. The wallet is a multi-currency wallet and supports coins like BTC, EOS, ETH, LTC, ONT, and TRX as well. Professional and secure, users retain full control over the private keys. The interface is very simple with the ability to exchange in one click. The wallet supports browsing dApps and allows multiple access facilities.
imToken – Android and iOS
imToken mobile wallet Supports multiple currencies and allows for multi-chain asset management. You can easily exchange your tokens through the wallet. All your funds are stored in cold storage. Developers can choose from a wide range of dApps available in the wallet itself including the TokenIon SDK and DApp SDK.
Looney – Web
the Lunie web wallet Allows authorization of ATOM and token rewards to be easy and convenient. You are now in complete 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 setup the Ledger Cosmos app first.
Math Wallet – Android, iOS, and Web
Mathematics portfolio Supports Android, iOS and chrome browser extensions. The wallet supports multiple currencies such as BTC, ETH, and EOS. The wallet is also highly secure and relies on biometric technology to protect your funds.
Trust Wallet – Android and iOS
Trust Wallet It is a mobile wallet and can be downloaded on Android and iOS phones. Trust is also the official cryptocurrency of the Binance platform. The wallet is protected by multiple layers of protection. Trust supports many cryptocurrencies such as ETH, ETC, POA, Go, etc. All your data and information is stored securely inside your device and none of it is accessed by the wallet. Web3 browser will help you to access dApps through wallet.
Wetez – Android and iOS
wet It is a multi-chain mobile wallet that supports PoS tokens. You can now earn by staking through blockchain PoS networks. The wallet has a verification marketplace where certified validators can participate thus offering multiple options for getting rewards.
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