Hassan Maishera
The Cosmos team announced via X on Friday that Cosmos has joined the LF Decentralized Trust alongside 14 new members, bringing their work in digital assets and interoperability to the community.
LF Decentralized Trust is the neutral home for the open development of blockchain, ledger, identity, cryptographic, and related technologies.
Cosmos is a network connecting many independent distributed ledgers (e.g., Ethereum, Bitcoin) to achieve interoperability across blockchains.
In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable, and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.
The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.
Cosmos’ origins date back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, Cosmos published a white paper — and held a token sale the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.
ATOM, the native token of Cosmos, is up 0.7% in the last 24 hours and is trading at $1.83 at press time.
