Cosmos Shared Node

Cosmos is a cryptocurrency that uses the BFT and Proof-of-Stake consensus protocols. Cosmos system does not provide for mining and the number of ATOM units is not limited in principle. Currently, there are over 236 million ATOMs. To create decentralized applications its own ABCI interface is used. Its use allows writing the program code of decentralized applications in such languages as Java, C ++, Go, or Solidity. The Cosmos system checks transactions with cryptocurrencies nodes validators. These cryptocurrencies nodes are rewarded with transaction fees. Technically, free blockchain nodes are remote servers running 24/7. The possibility to become one of the 100 public nodes earning on Cosmos transactions has aroused real enthusiasm. Cosmos was included in TOP-15 world cryptocurrency right from the beginning of the project.

The user of cryptocurrency Cosmos should become one of the blockchain nodes providers of validators, he should enter the top by the number of ATOM on cryptocurrency wallet. The number of public crypto nodes validators is limited by the software algorithm and is 100. For a new transaction to be approved and included into the block, it must receive at least two-thirds of the validator nodes provider votes. However, owners of small amounts of cryptocurrency ATOMs can rent out their ATOM node validators. For this, users receive a reward from the ATOM node validators proportional to their contribution. Each new transaction arrives to a new ATOM node validator and the transaction discarded by the ATOM node again becomes a total. ATOM concentration on nodes provider top wallets blocks a part of the money supply and thus contributes to rate growth. It is planned that over time the number of such nodes providers will gradually increase until it reaches 300. The algorithm provides an opportunity to deprive the blockchain nodes provider of the reward validator if such blockchain nodes provider will perform malicious actions in relation to the Cosmos network.

Thanks to the BFT and Proof-of-Stake consensus protocols, it is possible for several blockchains to work in parallel within one Cosmos ecosystem. Any user can create his own blockchain using the programming language of his choice. Calculations performed on a single blockchain are limited to its limits and do not load the Cosmos network as a whole. Public crypto nodes of parallel blockchains interact both with each other and with the public crypto nodes of the main blockchain, which is called the Concentrator. For linking two parallel blockchains, a transaction between them is "frozen" in the Concentrator blockchain until the necessary number of confirmations is obtained to avoid double spending. The tokens are then transferred to the blockchain of the coin recipient and destroyed in the blockchain Concentrator and the blockchain of the coin sender.

Cosmos blockchain elements should become connectors between cryptocurrencies of free nodes of other cryptocurrencies such as Bitcoin and Ethereum. This will allow the exchange of different cryptocurrencies without the participation of exchanges and other intermediaries. Tendermint protocol binds cryptocurrencies nodes of different blockchains, currently working in test mode. Thus, the Cosmos ecosystem becomes a decentralized exchange for the exchange of various digital assets.

In addition to the possibility of settlements between members of cryptocurrency ATOM, in the Cosmos network there is the possibility of creating decentralized applications and smart contracts. Transactions between free Cosmos nodes take place quickly, not more than 7 seconds. In order for the Cosmos network to work without problems, it is enough to keep at least a quarter of free nodes validators honest. Any public crypto nodes validator will lose its reward if it tries to cheat the system. It will also lose the ATOM deposit which is stored in the public crypto nodes wallet.