Hello, nice to meet you all. I am Jay, a blockchain programmer.
To begin with, Delio is being developed based on Cosmos. So I would like to take this opportunity to introduce you about the Cosmos project prior to developing a simple application using SDK, one of the features of Cosmos.
Cosmos launched its main-net, Cosmos Hub, on March 14 and claims to become the ‘internet of Blockchain’ with its innovative technoliges such as IBC(Inter Blockcahin Communication),SDK, and Tendermint. Delio is being developed as an independent one-Dapp Main-net with the support of Cosmos. So, today I am going to introduce you a little about Cosmos.
1. Brief of Cosmos
Cosmos which is being led by a Korean-American named, Jae kwon drew a lot of attention after it raised the targeting funds worth of $9.7 million in just one minute upon the opening of ICO in April, 2017. One of the main features of Cosmos in pursuit of becoming the Internet of Blockchain is the concept of ‘Interchain’ which provides interoperability by connecting various blockchains.
Up until now, blockchain has existed independently with the absence of interoperability. Because of that, each blockchain network was not only unable to exchange data but was also not able to trade different cryptocurrencies each other. However, now it is no problem thanks to Cosmos’ interchain technology.
2. Features of Cosmos
1) Interchain-Connecting different blockchains
In order to enable interoperability or ‘Interchain’ among other blockchain networks, Cosmos ecosystem consists of two types of blockchains: Hub and Zone.
Zone is an independent blockchain which owns its own token and data; and has the authority over them. Simply put, it is pretty much the same as the preexisting concepts of blockchain.
Hub is a especially designed blockchain in order to connect these zones; and is connected to different zones through IBC(Inter Blockchain Communication) which allows communications among various blockchain networks.⠀⠀
This not only enables tracking the tokens possessed by each zone but also transferring tokens to the zones via the hub.
2) Instant Fianlity- Creating blocks with no forking
Cosmos has another great strength in addition to the interchain technology fo connecting different blockchain networks. Another is the instant finality driven by the Tendermint consensus algorithm.
Tendermint consensus algorithm requires no forking since it induces consensus before producing blocks. In nut shell, blocks get confirmed instantly; this is called, ‘instant finality’.
Currently, the average block generation time of the Cosmos Hub, its mainnet, is about 6 or 7 seconds which means the time it takes for payment. In case of Bitcoin or Ethereum, it takes quite a lot of confirming time to confirm the transaction. This duration of time was the one which has made cryptocurrency difficult to be used for daily payments in life. However, thanks to its instant finality, transaction gets confirmed upon the block’s generation, and this leads to a great usability for payment.⠀
3. The reaon why Cosmos was chosen by Delio
We have learned briefly about Cosmos platform so far.
To sum up, while Cosmos boasts of interchain, IBC, SDK, Tendermint and etc, the biggest reason why Delio, commercial payment platform chose Cosmos is its instant finality. When it comes to SSC(Stable Stake Coin), the commercial payment token, the most important factors are its transaction speed and stability. Therefore, we believe this instant finality of Cosmos is a perfect match match with the Delio project.
What’s more, Cosmos provides the powerful tool, SDK(Software Development Kit) for developemtn. Ethereum’s Solidity is too simple enough to provide only the limited functions proving hindrances for development. On the other hand, Cosmos’ SDK offers so many different functions that the current programing languages do since developments can take place on top of the SDK. Therefore, Delio is able to enjoy this powerful and yet diverse functions it has to offer in during development.
Cosmos, with the vision of ‘Internet of Blockchain’ backed by its remarkable technology, is surely a very promising project. Next time, I will be posing about setting up the development environment before the actual application development steps.
Cosmos and Delio, to the moon!
delio | Croschain Technology
[Delio Official Social Media Platforms]
Facebook [EN]: https://www.facebook.com/delio.global
Facebook [KR]: https://www.facebook.com/delio.io/
Medium [EN]: https://email@example.com
Medium [CN]: https://medium.com/cn-delio