Tendermint Completes Work On Cosmos Hub Blockchain
Tendermint has announced on Twitter the official launch of Cosmos Hub, the first of a series of blockchains on the PoS consensus algorithm, which will enter the Cosmos ecosystem.
The Tendermint experts completed the work, which lasted for the past three years. Their main task was to ensure the compatibility of various blockchains, mainly Bitcoin and Ethereum. The release of the Cosmos Hub blocks has been going on for several days without any visible problems. Those interested could watch the launch of the project online on the YouTube channel.
The services of Cosmos Hub are still limited. Clients do not have the ability to exchange tokens between different blockchains yet. To activate this function, validators need to vote on the start of the Inter-Blockchain Communication (IBC) protocol.
Zaki Manian, the head of Tendermint, stated in an interview with CoinDesk that the Software Development Kit (SDK) introduced in Q1 2018 began to be used in the cryptocurrency sphere. For instance, it is applied by the Binance trading platform. Manian claims that another necessary component for promoting innovation is Tendermint Core, a consensus mechanism which underlies Cosmos Hub.
The internal ATOM tokens were developed in the Cosmos network, but users are not able to use them yet. ATOM is created to serve as collateral for validators. When the system is finally recognized as stable, owners of the tokens will be able to vote for the start of their transfers.
Earlier, several experts suggested that it is too early to talk about the widespread introduction of blockchain technology.