/* ---- Google Analytics Code Below */

Sunday, April 07, 2019

Cosmos, a Blockchain to connect Blockchains

Was asked to give an opinion on this approach, a 'Proof of Stake'  Blockchain approach (more below).

A Blockchain to Connect All Blockchains, Cosmos Is Officially Live   By Christine Kim in Coindesk

Cosmos, a highly anticipated blockchain itself designed to improve the interoperability between any number of other blockchains .....

With the mining of its first block at 23:00 UTC, the project has launched Cosmos Hub, the first in a series of proof-of-stake (PoS) blockchains that will be created in the Cosmos ecosystem.

At present, users of the network will not be able to swap tokens between blockchains or otherwise connect to Cosmos Hub with existing blockchain networks until validators officially vote to activate what is called the Inter-Blockchain Communication (IBC) protocol.

" ... Proof of stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e., the stake). In contrast, the algorithm of proof-of-work-based cryptocurrencies such as bitcoin uses mining; that is, the solving of computationally intensive puzzles to validate transactions and create new blocks. ... "  

 Wikipedia on Proof of Stake. 

No comments: