• Sun, 24 Mar 2019, 07:04 AM
  • All times are UTC
  • Edition:
    International
Link copied

The Interchain Foundation announces launch of “Internet of Blockchains” Cosmos Network

Fri, 15 Mar 2019, 10:57 am UTC

The Cosmos Network, a decentralized network of independent, scalable, and interoperable blockchains, has been officially launched this week.

The Interchain Foundation, a Swiss nonprofit funding the development of the Cosmos Network technology, appointed software development company Tendermint to develop the Cosmos Network. The Cosmos initial coin offering (ICO) raised $17 million in 2017.

In an online post dated March 14, the Interchain Foundation announced the Mainnet Launch of the Cosmos Hub – the first hub among many hubs that will launch within the Cosmos Network of sovereign blockchains.

The Cosmos Network has been launched with a significant number of partners on board, including the largest cryptocurrency exchange in the world by trading volume, Binance; gaming platform Loom; Interledger solutions provider Kava; and news validation social media platform TruStory.


According to the official release, the Cosmos Network focuses on scalability and usability, and enables developers to quickly and easily build reliable, efficient, and interoperable blockchain applications. It is built on Tendermint Core, a solution that packages the networking and consensus layers of a blockchain together, allowing developers to focus on application development as opposed to the complex underlying protocol.

The Cosmos Network enables blockchains to transact with one another, thereby creating an ecosystem in which blockchains can maintain sovereignty, process transactions quickly, communicate, and have fast finality.

Tendermint Inc.’s Founder and CEO, Jae Kwon explained that Cosmos aims to overcome a number of limitations currently associated with blockchain technology such as scalability problems, lack of usability, governance and environmental issues, among others.

“The vision of Cosmos is to overcome these limitations and break down barriers to innovation, ultimately creating an Internet of Blockchains: a decentralized network of independent, scalable, and interoperable blockchains,” he said.

“The launch of the Cosmos Network is the first major milestone in the development of this network and represents the culmination of 40 years of computer science research, with a Byzantine Fault Tolerant (BFT) Proof of Stake (PoS) consensus mechanism being deployed live for the first time. Now we’re encouraging developers to develop applications that take full advantage of the promises of this powerful ecosystem.”

Following the launch, developers can now use the Cosmos Software Development Kit (SDK), to build applications on the Cosmos Network. Application-specific blockchains that are built using the Cosmos SDK will have the functionality of interoperability, bringing an end to the current siloed nature of blockchains.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $4,024.62 (-0.43%)
  • Ethereum (ETH) $137.44 (-0.74%)
  • XRP (XRP) $0.310400 (-0.77%)
  • Litecoin (LTC) $60.41 (-1.15%)
  • EOS (EOS) $3.65 (-1.40%)
  • Bitcoin (BTC) $4,024.62 (-0.43%)
Mar 22, 2019 (Friday)
10:46
SBI Group partners with U.S.-based semiconductor firm to manufacture crypto mining hardware
10:03
Square seeks engineers for new crypto-related initiatives
09:02
Cardano Foundation joins European Commission’s blockchain initiative INATBA as founding member
07:09
Blockchain smartphone maker Sirin Labs partners with MyEtherWallet
06:21
Alibaba, Aerospace Information partner to foster blockchain development
05:30
UPS partners with blockchain startup Inxeption for B2B e-commerce platform
04:36
Financial market veteran Rob Catalanello to lead crypto liquidity provider B2C2’s US expansions
03:44
Numerai secures $11M from Paradigm and Placeholder via token sale
Mar 21, 2019 (Thursday)
11:49
Former Prime Minister of Denmark joins blockchain firm Concordium as strategic advisor
11:00
North Korean dissident group CCD to issue blockchain-based post-liberation visas
10:03
Switzerland inches closer to cryptocurrency regulation
09:07
Huobi Global to launch token sale platform “Huobi Prime”
07:21
Asia Pacific Leaders Malaria Alliance’s M2030 partners with Dragonchain for blockchain-based services
06:10
CoinMarketCap launches of crypto indices on Nasdaq, Bloomberg, Reuters
05:09
seriesOne, Polymath partner to simplify security token issuance
04:13
Binance launches cash-to-crypto brokerage service in Australia
03:45
IoT startup Filament joins Enterprise Ethereum Alliance
Mar 20, 2019 (Wednesday)
11:43
Wirex launches crypto-friendly business accounts
10:43
Ground X to launch public testnet of blockchain platform 'Klaytn’ on March 29
10:08
Seoul Medical Center, Korean Ministry of Science and ICT collaborate on blockchain project
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft