- Cosmos has unveiled their new whitepaper with major changes in the functionality.
- The move comes following Delphi Labs’ announcement to focus their research and development on Cosmos.
- ATOM, the native token of Cosmos, was trading at $14.45 currently.
What is The New Whitepaper Holding For Users?
As Web3 development is gaining pace globally, several ecosystems around the world are joining this race to flourish the fascinating concept of user-owned internet. Recently, Cosmos, a system powering blockchains to create a decentralized network, has rolled out its whitepaper for the users again, this time with a refined functionality for the ecosystem.
Intern notes on Cosmos’ new 27 page whitepaper
TL;DR
– Secure economic scaling
– $ATOM as reserve currency
– New economic engineDefinitely worth a read!
(1/2) pic.twitter.com/OseBg1kBYp
— (Delphi, Intern) (@delphiintern) September 26, 2022
ATOM, the indigenous token of the ecosystem, fuels the blockchains operating on Cosmos and can be used for staking and governance purposes on the network. The proof-of-stake network functions with a mission to give the folks and the applications an environment where they can communicate in a decentralized way.
The whitepaper offers a refurbished Cosmos Hub as an interchain web. It will allow the Cosmos blockchains to borrow Hub’s validators, eliminating the need to secure their own. It provides Hub’s layered architecture including Liquid Staking and Interchain Security alongside Interchain Allocator and Interchain Scheduler.
While Security and Staking will offer high economic scaling to the platform, Scheduler and Allocator will contribute to the growth of a more resilient interchain. The Allocator serves as a platform enhancing the ATOM-based markets and the Scheduler focuses on asynchronous markets. The latter will put a large number of MEV (Maximum Extractible Value) opportunities on the table.
It may prove helpful in providing a more flourished market for the Cosmos ecosystem.
The news comes after Delphi Labs announced that they will be porting their research and development in the Cosmos ecosystem. Previously, they were concentrated on the Terra ecosystem, but they retreated as soon as they realized the network was in peril. LUNA collapsed during May 2022, giving rise to the liquidity events and eventually the crypto winter.
According to the reports Delphi’s research and development teams includes around 50 members focused towards the Web3 development. The team said that they analyzed several ecosystems but Cosmos network fits the bill for their case.
The Cosmos ecosystem is building a network of blockchain offering an interconnected universe to applications to develop a decentralized future. Eventually, Web3 serves the same motive, to offer a user-owned space without any command of central entities on their data.
Source: https://www.thecoinrepublic.com/2022/09/27/cosmos-comes-up-with-major-changes-in-the-whitepaper/