Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus. In other words, Cosmos is an ecosystem of blockchains that can scale and interoperate with each other. Before Cosmos, blockchains were siloed and unable to communicate with each other. They were hard to build and could only handle a small amount of transactions per second. Cosmos solves these problems with a new technical vision. In order to understand this vision we need to go back to the fundamentals of blockchain technology.
Cross-chain networks will play a decisive role in the development of DeFi and decentralized applications, and the most applicable rival to Polkadot in this battle of cross-chain environment is Cosmos.
Investors and the media have focused on selected DeFi projects because of their volatile rise in valuation. The likes of Compound are expected to remain at the center of discussion.
Ethereum 2.0 which is built to work on the Proof of Stake Network has been facing delays and postponement in going live as attributed to bug fixing. The developers planned the upgrade of the proof-of-stake algorithm for June.
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