Development of Mesh Security
Cosmos (ATOM), which promotes interoperability between blockchains, has started efforts to introduce “re-staking” on the 18th.
The new solution “Mesh Security” aims to strengthen the security of each chain by enabling mutual protection between each block chain built with Cosmos SDK.
A specific example of this is the method of re-staking derivative tokens obtained by staking on Osmosis on Juno. This is expected to provide greater economic security than when each chain operates independently. Sunny Aggarwal, co-founder of Osmosis Labs, said:
Introducing Mesh Security enables a two-way approach to security, allowing two chains like Osmosis and Juno to provide protection to each other.
The proposal is similar to EigenLayer’s policy of generating derivative tokens from ETH staked on Ethereum and making them re-stakeable on other protocols. EigenLayer leverages ETH’s staking security to enable verification work on sidechains, rollups, dApps, oracles, bridges, and more.
connection:Ether “Re-Staking”, EigenLayer Launches Testnet
The development of Mesh Security is funded by major projects within the Cosmos ecosystem: the Osmosis Grants Program (OGP), Axelar, Akash Network, ATOM Accelerator, and the Osmosis Foundation. The mainnet launch is set for the first quarter of 2024.
Mesh Security’s design is said to be adaptable to blockchain across the Cosmos ecosystem. The initial implementation stage will support chains powered by CosmWasm (smart contracts written in WebAssembly), with plans to eventually support all Cosmos SDK chains.
The Cosmos ecosystem consists of independent blockchains that are interoperable. osmWasm-enabled networks include the privacy-focused Secret Network (SCRT), the community-driven L1 chain Juno (JUNO), and the decentralized transaction-optimized network Osmosis.
Mesh Security is designed for application-specific blockchains protected by “validators” that require staking of their own tokens. According to the official website, there are currently 72 applications and services on the Cosmos platform with a total market capitalization of approximately 8 trillion yen ($59.9 billion).
“It targets application chains that already have a set of stakeholders and have enough market size to protect themselves, providing additional security,” Aggarwal explained.
Last month, the security-as-a-service “Replicated Security” that allows chains developed with the CosmosSDK to leverage the security of the Cosmos Hub went live. Cosmos Hub is the largest blockchain in the ecosystem maintained by validators staking Cosmos (ATOM).
Replicated Security has the advantage of ensuring the strong security of Cosmos Hub from day one for projects that build their own chains. Using this mechanism, Neutron, a smart contract platform, has been launched.
What is a validator
A validator is a node that participates in a consensus algorithm and verifies the validity of data recorded on the blockchain. Secure capital in the form of “staking” by locking the native tokens of the network. Validate your trading history and be rewarded in cryptocurrency for fulfilling your role.
▶️Cryptocurrency Glossary
connection:To expand the practicality of ATOM token Cosmos starts security sharing
