Interoperability-focused blockchain network Cosmos has dropped a brand new whitepaper proposing a revamped Cosmos Hub targeted at strengthening interoperability and security, together with key changes to the native ATOM token.
The brand new Cosmos whitepaper was launched on Monday in the Cosmoverse conference in Medellin, Colombia. The upgrades outlined within the whitepaper continue to be technically in “proposal” status but changes are anticipated to make on-chain on March. 3.
Cosmos is definitely an ecosystem of blockchains made to scale and interoperate with one another. Cosmos Hub was the very first blockchain to become built on Cosmos, which initially offered being an intermediary between other interconnected blockchains.
The ATOM token can be used to transact inside the Cosmos ecosystem, which may also be used for governance and staking purposes.
Underneath the suggested changes, Cosmos will end up a far more interoperable, decentralized, and secure ecosystem.
Among the changes outlined may be the reinvention from the Cosmos Hub because the “Interchain” web, that will enable other Cosmos blockchains to gain access to the Hub’s validator pool to secure its network instead of getting to locate their very own.
Billy Rennekamp, the Cosmos Hub Product Lead added the value proposition behind this transition to Interchain Security would also result in the Cosmos network “legally, defensibly decentralized.”
Based on the whitepaper, Interchain Security may also enable Cosmos Hub to “host a singular group of applications with complementary functionality,” stating:
“Interchain Security gives consumer chains a quicker, simpler, and cheaper road to market [and] the event platform afforded by Interchain Security enables […] organizations to make use of the Hub’s essential infrastructure to construct commercial applications.”
The whitepaper also proposes a brand new issuance model for that native ATOM token, for the exact purpose to strike a much better balance between ecosystem growth and interchain adoption “while still preserving the safety afforded through the original regime,” based on the whitepaper.
The brand new financial policy might find two phases: “transition” and “steady condition.”
The transition phase might find 10,000,000 ATOM issued within the first month, that will then decrease in a declining rate until it reaches the steady condition phase 36 several weeks later.
Cosmos co-founder Ethan Buchman stated this latest token issuance model would enable other Cosmos blockchains to get more interconnected using the Cosmos Hub and ATOM.
The whitepaper also outlined an agenda to help accrue more quality towards the ATOM token by enabling leveraged liquid staking.
This allows ATOM holders to unstake ATOM tokens as quickly because they staked them, that will soon be enabled through the Cosmos “liquid staking module.”
“The consumer experience and capital efficiency improvement provided by liquid stalking is really substantial” it needed “full economic integration” in to the new Cosmos interchain-oriented ecosystem, based on the whitepaper.
Intern notes on Cosmos’ new 27 page whitepaper
– Secure economic scaling ⛓
– $ATOM as reserve currency
– New economic engine
Certainly worth a read!
— (Delphi, Intern) (@delphiintern) September 26, 2022
The discharge from the whitepaper comes a couple of days after research and investment firm Delphi Labs announced a shift of their R&D efforts to pay attention to the Cosmos ecosystem.
The study firm outlined network speed, chain liquidity, sufficient decentralization, and mix-chain interoperability because the important aspects behind its decision to supply R&D efforts to assist further the development of Cosmos.