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For example, it is not possible to implement automatic execution of code on an Ethereum virtual machine.

What you end up doing is limited by the functionality baked into Ethereum’s smart contracts.

This sounds great because all the blockchainy stuff happens in the background (validators, security, consensus etc.) while you can focus on building your dapp.īut there are few problems with this Ethereum drawbacks vs. On Ethereum you can build a decentralized application using its smart contract functionality. Why Cosmos claim they are better than Ethereum This is very different to Ethereum’s proposition. The Cosmos SDK contains all the tools you need to build a blockchain. Think of it as a collection of ready-made tools for the specific type of app you want to build. When building an e-commerce store you can either get someone to code everything up from scratch or you can open a Shopify account and, hey presto, your e-commerce site is good to go.Īt the heart of the Cosmos Hub is the Cosmos SDK. Think of it as the equivalent to Shopify for someone who wants to build an e-commerce site. The Cosmos Hub wants to be the one-stop shop for all things blockchain. If you have read about Polkadot, it is similar to Polkadot’s Relay chain. You can think of the IBC interoperability protocol as being equivalent to tcp/ip.Īt the core of the Cosmos Network sits the Cosmos Hub. IBC effectively allows blockchains to connect to each other. It will therefore be critical there be some protocols that establish a common language between blockchains.Ĭosmos’s Inter-Block Communication (IBC) protocol is one such effort that is already making this become a reality. Like many others, Ethan believes that the crypto industry has yet to fully manifest. What is Cosmos crypto and how does it work?

#Osmos crypto full#

It is only over time that they moved away from that paradigm and started using the new production means to its full capacity.Ī’s first rendition of their site. He draws similarities with how TV originally tried to adapt theatre to TV.Īt the time, the camera was static and filmed actors as if they were in a theatre play. To make this all happen people came to agreement to use certain protocols such as SMTP for email and TCP/IP for sending data packages over the internet.Įthan claims that we are still very early in the whole Web3 and crypto evolution.

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It became this distributed ecosystem of powerful computers in people’s homes.Įach person can customize their hardware and software how they see fit. Yet the internet evolved quite differently. IBM thought there would be one mainframe super computer in some basement somewhere to which terminals would connect. How Cosmos is like the internetĬosmos’s co-founder Ethan Buchman compares the Bitcoin / Ethereum maximalist stance to that of IBM’s in the internet’s early days. Cosmos calls itself “The internet of blockchains”.