The Cosmos Foundation is a non-profit organization that aims to promote decentralized networks, blockchain technology, and inter-blockchain communication. Their goal is to create a decentralized internet that expands beyond the borders of individual blockchain platforms.
The technical description of the process involves the use of the Cosmos Network, which is a decentralized network of independent blockchains that operate using a unified framework. This framework includes the Tendermint consensus algorithm, which ensures fast and secure transaction processing among the Cosmos blockchain ecosystem.
The Cosmos Network uses a unique architecture that allows different blockchains to communicate and transact with each other using Inter-Blockchain Communication (IBC) protocols. This interoperability enables seamless transfer of assets and data across different chains, creating a multi-chain internet of blockchains that allows developers to build scalable and decentralized applications. The Cosmos SDK is the main software development kit that facilitates the creation of new chains on the Cosmos Network.
Additionally, the Cosmos Hub is a blockchain designed as a hub for the Cosmos Network, connects all the different blockchains together and serves as the main entry point for users and developers to access and interact with the Cosmos ecosystem.
Overall, the Cosmos Foundation’s technical process involves creating a new internet ecosystem that empowers developers to build scalable and decentralized applications by providing a unified framework for blockchain interoperability.
