The Emergence of Cosmos (Atom) and it's Liberation of Blockchains From High Transaction Cost
Greetings to my esteemed Lions, it's good to know that the kingdom is doing great with all the happenings around the LeoFinance ecosystem. I pray for more wins for every Lion 🦁 on the hive blockchain.
Discovering Cosmos (Atom) most recently have overwhelmed my imagination and constantly studying about Cosmos Atom, brings me more joy as an historian by profession. This is because, evidence and documents are keys to fact findings and historical analysis.
The question is what do you know about Blockchains and blockchain technology?
Analyzing the Emergence of Cosmos (Atom) from the Historical Perspectives
Like @melbourneswest will say:
Moving away from single asset or layer 1 blockchains such as Bitcoin, although the lightning network being built on Bitcoin seems promising and building beyond smart contract blockchains such Ethereum which are layered but often experience high congestion and transaction costs due to high use.Source
The actual dream of everyone in the cryptoglobal is to acquire bitcoin and probably Ethereum in their wallets due to the profitability in owning such cryptos. But the problem emerges when one wants to make some transactions. At some point, transaction fees is just like you wanting to own a of these Blockchain Layer 1 tokens.
Everybody knows that once there's a thesis, an antithesis will emerge with solutions and new research that supercedes the former research.
Based on the above explanation, Cosmos (Atom) is developed to bring in more decentralized ecosystems with lower transaction costs as well as to create inter-connectivities among blockchains that are developed with the Tendermint BFT engine.
Inter-connectivity so far blockchain technology is concerned, is very important, because Cosmos provides more avenues to compare transaction cost and the choice to know which way to align.
Let's take the recent development on the LeoFinance ecosystem about the issue of solving the liquidity challenge facing native HBD that's now solved by the provision of liquidity pools on the Polygon network by launching pHBD-USDC vault.
It should be noted that the ability for a Hive Layer 2 tokenized community such LeoFinance to create liquidity pools on the polygon network is made possible through the inter-connectivities of Cosmos.
Just imagine the low wrapping and unwrapping fees of pHBD to and from the Polygon network and Hive blockchain respectively, is a clear indication of the good work of the emergence of Cosmos decentralized ecosystems.
I know that my post haven't done justice to the above topic, but if you crave to research further on Cosmos, just click here
Posted Using LeoFinance Beta