Cosmos, an interoperability-based ecosystem, aims to create an internet of blockchains and connect even more blockchain projects. To accomplish this idea, Cosmos built a central Hub ledger under the Inter-Blockchain Communication network(IBC), capable of hosting other multiple blockchains dubbed as Zones.
It is important to note that most crypto ecosystems design their blockchain networks, such as Ethereum and Bitcoin blockchains. Therefore, these blockchains may not be compatible with each other, hence opting for the IBC protocol approach, which is features a primary Hub.
A Bridge for Blockchains
Similar to other blockchains, the Hub contains decentralized validators who maintain the ledgers overall security. The validators safeguard the Hub from threats such as a nation-state-sponsored attack or a continental network partition. Moreover, a Zone itself contains validators who stake a particular amount of ATOM (Cosmos native token) within the Hub.
Any dishonest validator will automatically force the Cosmos blockchain to cancel their staked ATOM. The exchange of tokens between blockchains presents a trust issue whereby zones remain hesitant of the token source and the validators as well.
Nevertheless, leveraging the hub ledger will ensure trust levels are maintained as it works as the primary source between other chains. It also eliminates the trust obligations that the zones will be forced to agree on if they acted independently. Whats more is that by leaving the zone connections to one central ledger, instances of double spending or unfreezing of tokens should decrease considerably.
The Cosmos Hub is a PoS blockchain itself running under the Tendermint algorithm. Functioning through a Byzantine Fault Tolerance, Tendermint core enables the Cosmos ecosystem to bring together two or three blockchain layers without undergoing complex development procedures.
The Need for IBC
The IBC protocol serves as a significant development breaking the barrier between blockchains. For TCP/IP protocols, connecting computer servers from different geographical locations with different hardware and operating systems is easier.
IBC strives to meet the same goal as TCP/IP, only that IBC merges different blockchains with completely different consensus mechanisms. Furthermore, the innovative protocol also supports the development of applications such as decentralized oracles, cross-chain token transfers, and multichain smart contract applications.
Cosmos Blockchain Solution
The Cosmos network hopes to address specific weak points affecting blockchains and introduce effective solutions to the issues. A Software Development Kit is in place for developers who wish to build a blockchain within the shortest time possible.
Interestingly, developers have an immense advantage as the SDK solution offers the most straightforward procedure to develop a blockchain from scratch. As a general objective, the Cosmos network merges blockchains to solve scalability, interoperability, and usability issues.