-The Internet of Blockchain-
The cosmos network
Internet: A huge network connecting people and information
around the world
It became possible that anyone can easily exchange information and
deliver a message, beyond the limits of space through the Internet
Billions of people are connected via the Internet, so every moment
a huge amount of information is created and shared on the Internet.
There are billions of users of search engines and SNS that help to
communicate and share information over the Internet.
So, highly accessible .com addresses
can be traded in millions dollars.
The price of .com domains
Also, the enormous amount of Big Data created on the Internet has
revolutionized marketing, biotechnology, and voting strategies.
This is possible because
the Internet is connecting information and people.
The synergy that arises from “connection”
is very innovative and powerful.
Can these innovative and powerful synergies occur
when blockchains are linked together?
The blockchains have their own ideal, culture and purpose, and have different
advantages and disadvantages.
The Bitcoin is useful as a means of storage and movement of value.
But, There are limitations in terms of application software development
and real-time payment.
The Ethereum makes possible to use and develop
Smart Contract and Dapps. But, there are limitations that
all developments must be based on the EVM.
The R3CEV's blockchain "Corda" is a private blockchain, which allows
only the banks subscribed to R3CEV to access and use.
Currently, most blockchains exist independently of each other
and can't interact with each other.
When these independent blockchains are connected together,
various applications can be made such as
selectively using merits of each blockchain.
Bitcoin transfer with Ethereum Smart Contract
Movement of value Smart Contract
The Cosmos Hub connects indepent blockchains using the IBC protocol.
IBC ( Inter-blockchain communication)
When these independent blockchains are 'connected', various
applications and uses that were not possible before will be possible.
The Cosmos Hub will play a role of "The decentralized blockchain
connection platform" connecting numerous blockchains.
It is time to imagine new things which will be possible
when the blockchains are connected.
The only question is,
What will you build on cosmos?
By Jae Kwon (The Founder of Tendermint)