Cosmos 2.0, the countdown is on!
Atom 2.0 will be revealed in 3 talks at Cosmoverse from 26th to 28th September. On Day 1, @buchmanster will unveil the atom 2.0 paper & the vision, and @zmanian will explain Atom tokenomics that determine whether Atom token could catch more value in its system.
Cosmos is known as one of the leaders in the field of Cross-chain. It is a system that contains different independent distributed ledgers like bitcoin and Ethereum, while all these ledgers can easily connect with each other in order to achieve its goal- creating an internet of Blockchains.
There are three core technologies behind the scene- Tendermint Core, Cosmos SDK, and IBC.
Tendermint Core is a blockchain application platform; it provides the equivalent of a web server, database, and supporting libraries for blockchain applications written in any programming language. Like a web server serving web applications, Tendermint serves blockchain applications. More formally, Tendermint Core performs Byzantine Fault Tolerant (BFT) State Machine Replication (SMR) for arbitrary deterministic, finite state machines.
Cosmos SDK is the framework and the industry standard for building application-specific blockchains. Anyone can create a module for the Cosmos SDK, and integrating already-built modules is as simple as importing them into your blockchain application.
IBC is the standard protocol for inter-blockchain communication, IBC allows blockchains in the ecosystem to connect so that they can transfer tokens and other data between each other frictionlessly and seamlessly.
ATOM is the digital asset in the Cosmos Hub. For now, the main use for it is staking. It helps secure the chain. As a staker, you can earn rewards from staking and vote on proposals. The staking rewards come from transaction fees and the newly created ATOM. Many people think ATOM is lack the ability to absorb values in the Cosmos system, and the new tokenomic is worth attention when Cosmos 2.0 comes.
With interchain security, the developers will be secured by the validator set of the Cosmos Hub and $ATOM’s $4.3B market cap. new appchains will no longer have to boost the value of their token or secure their own validators set to get their app off the ground. Cosmoshub will do it for them — with fast transactions and predictable fees for consumer chains. 75% of the gas fee will be charged by appchains and 25% will be charged by Cosmos Hub. As a result, for stakers, if you stake ATOM on the hub, you can earn staking rewards on many chains.
Other topics would appear in the New Roadmap
The new roadmap contains many other details like Muti-Hop routing, a New incentive plan, Protocol Controlled Value, and so on.
ATOM’s inflation has a floor of 7% and a ceiling of 20%. It is a quite simple one and was designed to help the early stages of the network. The new design of the tokenomic might be the change of the Max supply or Burning mechanism. Anyway, it would be exciting.
Let’s wait for the Cosmoverse in Medellin Sep 26–28, to see the future of Cosmos!