Cosmos is the blockchain protocol that creates a new web in the ecosystem. It has some similarities to Ethereum with its Turing-complete clever contract language. It focuses on building decentralized applications, but it also aims to be a platform for business collaboration with faster transactions, cheaper fees, and less energy consumption. The proposed governing system is called the ‘Polkadot network’, consisting of various layers and benefits from native interoperability with other blockchains. What is Polkadot and Cosmos? Cosmos is the blockchain protocol that creates a new web in the ecosystem. The proposed governing system is called the ‘Polkadot network,’ consisting of various layers and benefits from native interoperability with other blockchains. It has some similarities to Ethereum with its Turing-complete imaginative contract language. It focuses on building decentralized applications, but it also aims to be a platform for business collaboration with faster transactions, cheaper fees, and less energy consumption. Why do you need them? The idea behind Polkadot is that the blockchain ecosystem is becoming a cluttered jungle of systems, which in turn creates severe obstacles to interoperability for various projects. The Polkadot (or ‘parachain’) project proposes to solve this problem by creating a hub that can merge and reconcile different blockchains, providing a better way of token exchange. Instead of asking each bl...
