Expanding the practicality of ATOM
The crypto asset (virtual currency) Cosmos (ATOM) project announced on the 12th that “Replicated Security”, a mechanism for sharing security within the network, has started operation.
Blockchain “Neutron”, which provides smart contract functions, has started block generation on the Cosmos network and uses the security of “Cosmos Hub”. The Cosmos project explained that the launch of shared security will usher in a new era of utility for ATOM tokens.
Replicated Security brings a new era of utility for #ATOM ⚛️
— Cosmos – Internet of Blockchains ⚛️ (@cosmos) May 11, 2023
Cosmos is a project that realizes interoperability between different blockchains. A blockchain called “Cosmos Hub” plays a central role among these blockchains.
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When a new project develops a blockchain and provides services, one of the first challenges is ensuring security. Resources must be allocated not only to core operations such as product development, but also to ensuring security.
“Replicated Security” is the means to solve this problem. Shared security means that Cosmos Hub validators validate blockchain transactions that join the Cosmos network.
Replicated Security was formerly known as Interchain Security (ICS). Blockchains that share security with Cosmos Hub are called “Consumer Chains”.
In exchange for verifying transactions, Consumer Chain shares revenue with Cosmos Hub. The shared revenue will be distributed to ATOM token validators and delegators.
What is a validator
A node that verifies the validity of data recorded on the blockchain. A delegator is someone who delegates validation to a validator.
What is Neutron
Neutron is the first Consumer Chain to leverage Replicated Security. From now on, we will start full-scale operation while utilizing the security of ATOM token staking.
The official website describes Neutron as “a smart contract platform for DeFi (decentralized finance).” It is a secure smart contract platform built on Cosmos’ development kit “Cosmos SDK” and protected by staked ATOM.
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Neutron has just launched, and the plan is to gradually ramp up operation, with the first two weeks being the preparation period.
Next, as the second Consumer Chain, the DeFi project Stride is scheduled to start operation. On the 12th, it also announced that Stride has been approved by the community to go live.
1/ Cosmonauts, Stride is coming 🌊
Prop #794 is approved ✅
The community confirmed support for Stride to adopt #ICS
A proposal to onboard Stride is coming!
— Cosmos Hub ⚛️ (@cosmoshub) May 12, 2023
connection: Cosmos staking protocol Stride, raises about 900 million yen