Dora Dōjo · 2023/08/28
Cosmos: Blockchain 3.0 #699
#Bitcoin is referred to as Blockchain 1.0 and is valued for its decentralization. #Ethereum , on the other hand, represents Blockchain 2.0 and is known for the development of applications. #Cosmos , known as Blockchain 3.0, is a modular blockchain network that is scalable. Here are some of the reasons why Cosmos is called Blockchain 3.0:
1. Internet's basic state: Cosmos aims to build an exchangeable network ecosystem instead of creating its own blockchain. It does so by providing tools, such as the Tendermint consensus engine and Cosmos SDK modules, that lower development barriers. This feature allows different blockchains to connect and exchange information with each other, much like the infrastructure of the Internet.
2. Cross-chain interoperability: Cosmos achieves cross-chain interoperability through its core protocol Inter-Blockchain Communication (IBC). This means that different blockchains can communicate and interact with each other in the Cosmos ecosystem, enabling cross-chain transfer of assets and data. This cross-chain interoperability is one of the key features of Blockchain 3.0.
3. Multi-chain ecosystem: Cosmos builds a multi-chain ecosystem in which different blockchains can exist in parallel and cooperate with each other. This multi-chain architecture allows each blockchain to focus on specific functions and uses, thereby improving the flexibility and scalability of the entire ecosystem.