Team Tendermint Inc. officially announced the launch of Cosmos Hub – the first of a series of the block chain Proof-of-Stake, which in the future will become part of the ecosystem Cosmos. Work on the project, which sought to ensure the compatibility of different blockchains – first Ethereum and bitcoin, was conducted over the last three years.
The production of blocks Cosmos Hub was launched on Wednesday, 13 March at 23:00 UTC, and as representatives of the project, since the process is in a stable mode.
Welcome to the dawn of the Space Age of Blockchains.@cosmos hub mainnet is steadily making blocks. #cosmoslaunch #internetofblockchains pic.twitter.com/JOSjqSotMZ
— Chjango Unchained ⛓ (@chjango) March 14, 2019
Project launch also was broadcast online on Youtube.
Representatives Tendermint note that at the moment, users can’t exchange the tokens between blockchains or some other way to connect the Cosmos to the Hub to outside the block chain the validators have to vote for the activation of the Protocol Inter-Blockchain Communication (IBC).
In comments to CoinDesk Director Tendermint by Zaki Manian noted that in February 2018, the set of development tools (SDK) is already used in the cryptocurrency industry, in particular, by the exchange Binance.
He also said that another important element that will help “at a fundamental level to remove obstacles to innovation” is the underlying Cosmos Hub mechanism consensus Tendermint Core.
“Of all of these structural elements can be assembled completely open financial system, which will be able to scale and will include separate specialized blackany to solve different problems,” said Zaki Manian.
The transaction with private token ATOM Cosmos network users is not yet available. These tokens will serve as collateral for validators, and currently they are used as a mechanism of choice of membership in Cosmos Network.
As soon as the system itself and a set of validators will be deemed stable enough, the token holders can vote for the start date of the transfers to the ATOM. Also after this we will conduct another vote regarding the connection to the Cosmos Hub of new blockchains and run swaps between RA cryptocurrency and are not interchangeable tokens.
Security Cosmos Hub currently provides about 70 validators. Also at this stage, all rewards are paid in ATOM, but in the future this may be used for other cryptocurrencies, in particular bitcoin or Ethereum.
We will remind, last year the Cosmos project has joined the initiative of the Ethereum Community Fund, which established a special Fund designed to accelerate the development of the blockchain infrastructure and decentralized applications.