madhurim

Cosmos & Delegation - Blockchain Eco system

Nov 28, 2023 - Cosmos is a cutting-edge blockchain ecosystem designed to facilitate interoperability and scalability within the decentralized world of cryptocurrencies. With a mission to enable seamless communication and collaboration among different blockchain networks, Cosmos employs a unique consensus algorithm known as Tendermint. Cosmos Ecosystem: Cosmos is an ecosystem of interconnected blockchains, each called a "zone," that aims to solve the problem of blockchain interoperability and scalability. It allows different blockchains to communicate and share data, enabling a more interconnected and efficient decentralized world. A Cosmos validator: Validator is a key participant in the Cosmos blockchain network responsible for validating transactions and producing new blocks. Validators play a crucial role in maintaining network security and integrity by verifying the validity of transactions and proposing new blocks in a decentralized manner. They stake ATOM tokens as collateral and can receive delegations from other token holders, sharing rewards for their services. Validators actively participate in network governance, ensuring the ongoing development and stability of the Cosmos ecosystem ATOM Token: ATOM is the native cryptocurrency of the Cosmos Hub, the main blockchain within the Cosmos ecosystem. ATOM serves multiple purposes, including staking, governance, and as a medium of exchange within the network. Delegations: Delegations are a fundamental feature of the Cosmos network. Token holders can delegate their ATOMs to validators of their choice. Validators are responsible for securing the network and validating transactions. In return for their services, validators receive rewards, and delegators also earn a portion of these rewards based on their delegated stake.