Layer-0 blockchain community Cosmos has launched a brand new whitepaper to replace its Cosmos Hub and ATOM token.
The whitepaper was launched on Sept. 26 in the course of the Cosmoverse convention in Medellin, Colombia.
Cosmos Hub
Cosmos Hub is the blockchain on the middle of the Cosmos ecosystem and first served as an middleman between all the opposite interconnected networks. Prior to now, the blockchain had served as a mannequin for different interconnected networks within the ecosystem.
Different blockchains on Cosmos use the Hub code as a template and enhance it for a selected use case.
The brand new whitepaper will see Cosmos Hub develop into the Interchain internet by including Interchain safety as its core characteristic. Different blockchains within the ecosystem can borrow its validator pool to safe their networks.
The blockchains within the Cosmos community all use Proof-of-Stake however with particular person validators for every community. Cosmos 2.0 whitepaper needs to alter that, permitting different Cosmos chains to make use of validators from the Hub.
The change will give entry to a extra intensive and various validator pool, making the community safer and decentralized. It is going to additionally publish its interoperability.
New plans for ATOM
The brand new whitepaper additionally mentioned plans to enhance the utility of the Cosmos ATOM token and increase its worth. ATOM is the native token for the ecosystem. Past being the governance token, it’s also what validators on Cosmos Hub stake to safe the community.
With the plan to make the Cosmos Hub validator pool accessible to different chains, ATOM use will improve on the opposite chains.
Moreover, the proposal will add liquid staking to the community code in order that even when ATOM is locked to offer safety, it could possibly nonetheless serve different functions.
There are additionally plans to scale back the token issuance price. The brand new method will are available in two phases, the “transition” and “regular state.” The essence of that is to steadiness Interchain adoption and ecosystem development.
In the meantime, the whitepaper is at present a proposal. However the upgrades really useful in it are anticipated to occur on-chain subsequent month.
ATOM up 3.4%
ATOM’s value has reacted positively to information of the brand new whitepaper, rising 3.4% throughout the final 24 hours to $14.57, in response to CryptoSlate knowledge.
The asset is performing poorly on the seven days metrics because it has misplaced 7.1% of its worth. Throughout this era, it traded for as little as $13.15.
