Cosmos is a decentralized digital currency and blockchain network designed to increase interoperability, scalability and independence in the blockchain market.
Many cryptocurrencies use the Workload Proof [PoW] protocol.
PoW works with a decentralized mining network that requires a lot of energy to confirm transactions and protect the network. The PoW protocol is slow, expensive and non-scalable. Cosmos used an error-tolerant Byzantine consensus engine called Tendermint BFT to solve these problems. With this Proof-of-Stake [PoS] consistency algorithm, the goal is to become more scalable and efficient.
Cosmos uses then a consensus protocol called Tendermint. Tendermint allows to have non-negative voting rights and other nodes with positive voting rights. Their job is to transmit cryptocurrency signatures and votes to agree on the next block. Cosmos uses a partially synchronized BFT consensus protocol which is simpler and offers better performance.
Tendermint requires a fixed set of validators that have their own public key. The verifier then attempts to obtain consent on one block at a time. To reach a consensus, it is necessary to vote in several rounds and analyze the proposals made by the leaders. Then the certifier will gradually vote to decide whether to accept the block.
Tendermint is implemented in a program called Tendermint Core. Using the Application Blockchain Interface [ABCI] defines the boundaries between blockchain and applications. This is done through a socket protocol that allows a consensus engine to manage applications running in other processes.
Cosmos also wants to tackle the blockchain application. Even for blockchain developers, these applications are complex and difficult to understand. Cosmos has developed for this a solution called Cosmos SDK (modular framework that allows interested developers to create interoperable and application-specific blockchains).
Cosmos developed the IBC protocol through a messaging protocol called Blockchain Communication [IBC] to improve interoperability.
The Inter-Block Communication [IBC] protocol works through two different types of transactions.
- IBCBlockCommitTx: allows the blockchain network to demonstrate its latest blocking hash transaction.
- IBCPacketTx: allows the blockchain to demonstrate that the sender's application has published a package.
This can be demonstrated using Merkle-proof.
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