Let's Discuss About Cosmos (Atom): the power of blockchain inter-connectivities - An avenue for global crypto revolution
The emergence of Blockchains is triggered by Cosmos, which means that Cosmos is the idea of inter-blockchain activities that has helped the cryptoglobal to move as fast as it is today.
Many a times, I've pondered about what gave rise to various blockchains coming together in terms of transactional contracts between Blockchains and smart chain networks. This became more realistic when I read about Cosmos.
What's Cosmos (Atom)?
Cosmos is a decentralised network or ecosystem of blockchains that are all linked back to a central hub and acts as an intermediary.
While each running independently of one another, each blockchain (or zone as they are known) is tethered back to the Cosmos Hub where an overall record of their state is maintained.Source
For me, Cosmos is defined as a point where all blockchains meet and it's activities recorded and maintained.
It's very important that every blockchain remain independent to avoid returning a blockchain back to a central ecosystem.
The idea of decentralized ecosystem is to encourage utmost freedom for users to express themselves and still earn in crypto. Although, it's very necessary to have a unified platform where all Blockchains meet.
One of the ingredients to keep the inter-blockchain activities going is communication. Cosmos offers various blockchains the ability to communicate through what's known as: Inter-Blockchain Communication (IBC) protocol.
This protocol can be used and implemented by other blockchains and app developers to solve the problem of interoperability.Source
What each blockchain developer does is to connect to the protocol in order to access and solve the problem of interoperability. This is the reason why one can swap from one blockchain to the other, without getting stocked on the way.
What's the role of Cosmos (Atom) in fighting to take over the financial world?
To me the best way to fight for supremacy in the financial world between fiat money and crypto is through blockchains activities and transactions.
The conglomeration of these Blockchains, which is the purpose of Cosmos (Atom) is targeted towards helping the cryptoglobal to create awareness and the need for the entire world to accept and embrace cryptocurrencies as a legal tender as well as the means in attaining that financial freedom the world is looking for.
It should be noted that governments across the world have failed it's citizens in terms of fulfilling their responsibilities of providing employments, infrastructural development as well as quality education. This on its own can be fulfilled by the various blockchains across the world.
The world needs borderless financial hub to connect to entire world together, and crypto through it's blockchain technologies is actualizing this.
With the presence of Cosmos (Atom) through blockchain activities, more cryptocurrencies are mined on a daily basis, increasing the chances of people getting to know about crypto and it's technology.
Remember, the more the people becomes familiar with crypto and blockchain technology, the more they drift away from fiat and traditional banking transactions. I can strongly say that there's more digital banking transactions than traditional banking transactions. This is because of Cosmos.
Finally, the hope of world economy and finance is tied to crypto and blockchain activities and it's for everyone member of the cryptoglobal to create more awareness of crypto in their locality to increase the chances of crypto revolution across the world.
Posted Using LeoFinance Beta