How does the Cosmos whitepaper propose to solve the scalability issues faced by cryptocurrencies?

3 answers

• Nov 26, 2021 · 3 years ago
  The Cosmos whitepaper proposes a solution to the scalability issues faced by cryptocurrencies through the use of a technology called Inter-Blockchain Communication (IBC). IBC allows different blockchains to communicate and transfer assets between each other, enabling scalability by creating a network of interconnected blockchains. This approach differs from existing solutions that focus on scaling a single blockchain, as Cosmos aims to create an ecosystem of interoperable blockchains that can scale collectively. By enabling communication and asset transfer between blockchains, Cosmos aims to overcome the limitations of a single blockchain's scalability and create a more scalable and efficient cryptocurrency ecosystem.
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• Nov 26, 2021 · 3 years ago
  In the Cosmos whitepaper, the proposed solution to scalability issues in cryptocurrencies is achieved through the use of a hub-and-spoke model. This model involves a central hub blockchain, called the Cosmos Hub, which acts as a bridge between different blockchains. The Cosmos Hub facilitates the transfer of assets and information between blockchains, allowing for scalability by distributing the workload across multiple interconnected blockchains. This approach differs from traditional scaling solutions that focus on increasing the block size or implementing off-chain solutions. Instead, Cosmos aims to create a scalable and interconnected network of blockchains that can work together to overcome the scalability challenges faced by cryptocurrencies.
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• Nov 26, 2021 · 3 years ago
  The Cosmos whitepaper introduces a novel approach to solving scalability issues in cryptocurrencies by utilizing a technology called Tendermint. Tendermint is a consensus algorithm that allows for fast and secure transaction processing across multiple blockchains. By utilizing Tendermint, Cosmos aims to achieve scalability by creating a network of interconnected blockchains that can process transactions in parallel. This approach differs from traditional scaling solutions that rely on increasing block size or implementing layer 2 solutions. Cosmos aims to create a scalable and efficient ecosystem by leveraging Tendermint's consensus algorithm and enabling interoperability between blockchains.
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