The trend in bear markets is often one of introspection for projects that still have the chance to be in the running. This in order to adjust a strategy sometimes built or modified in a hurry in a period of speculative euphoria. But with a lack of long-term vision and shaky provisions that rarely go beyond the course of a sudden descent. Provisions that sometimes require a return to basics, as in the case of the project Cosmos. This in order to โreinventingโ its Cosmos Hub to make it a more interoperable, decentralized and secure โInterchainโ ecosystem.
The Cosmos project is developing according to a principle of interconnected networks, but independently. This is to allow effective communication between โthousands of blockchainsโ, historically difficult for security reasons. With as a central point of its development the Cosmos Hub network, the very first of them to have seen the light of day. But since abandoned in favor of the development of its Cosmos Network.
A vision enunciated in 2016, which has now been โrealizedโ as a โthriving ecosystem of sovereign interoperable communitiesโ. It is in any case the terms used in the introduction to his brand new white paper, made public yesterday. Because the Cosmos project has decided to get a facelift. With a thorough overhaul of its Cosmos Hub spine. But also a revisit of the initial tokenomics of its ATOM cryptocurrency.
Cosmos Hub โ An โInterchain Securityโ network
All this was officially announced during the conference Cosmoverse which just took place in Medellin, Colombia. With many strategic changes made to different areas of the Cosmos project. And a brand new white paper whose provisions are for the moment presented only as “proposals”. Even if the timetable for their effective implementation seems already fixed, since this must obviously take shape on October 3rd.
With the main objective, the transformation of the current Cosmos Hub network into an โInterchain Securityโ version. That is to say with the brand new possibility for blockchains connected to the Cosmos Network to use its pool of validators. This is to be able to secure their networks without having to recreate this infrastructure on their side. And as a benefit, increased safety and a โlegally decentralizedโ Cosmos networkin the words of Billy Rennekamp, โโCosmos Hub Product Manager.
” In this new role, Cosmos Hub becomes a secure platform for others to build the next generation of interchain native infrastructure and applications, opening up new opportunities for coordination. (โฆ) The Cosmos Hub will secure and capitalize critical applications for the ecosystem, while serving as an entry point for new participants and a coordination center for infrastructure and administrative concerns. ยป
Cosmos, white paper
This new version of Cosmos Hub will also allow it โto host a new category of applications with additional functionalitiesโ. With in the viewfinder of its developers, an openness to “commercial applications whose management is presented as simpler, faster and less expensive.
ATOM โ A new monetary policy
All this is also an opportunity toa revamp of the tokenomics ATOM cryptocurrency, native to the Cosmos project. The latter is included in the new version of its white paper, in the form of a new issue model. With the stated goal, a better monetary balance between the growth of its ecosystem and the adoption of its interchain formula. But while at the same time guaranteeing the “preservation of the security offered by the original regime”.
A new monetary policy which will be spread over two distinct periods separated between โtransitionโ and โstable stateโ. With a first phase which should begin with the issuance of 10 million units of the ATOM cryptocurrency in the first month. And then a gradual decrease until the stability phase expected after 36 months. All complemented by a brand new option of ” liquid staking with leverage, touted as as easy as classic staking. That is to say with the possibility of withdrawing the funds committed without a complex procedure, going through the next ” liquid staking module ยป waiting for effective activation.
” Full economic integration of the interchain principle requires liquid staking. The user experience and capital efficiency improvement offered by liquid harassment is so substantial that liquid staked assets are expected to become the dominant transactional medium, especially for use cases external to the original chain.. ยป
Cosmos, white paper
Changes whose implementation should not take too long. But whose effective consequences will be measured over months, even years. Because it is on this kind of unit of time that the Cosmos project seems to be projected with the publication of this new white paper…
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