Tech Dev Now Blog

Cosmos is an evolving ecosystem of connected applications, services, and products that are geared towards a decentralized future. It is an open-source, community-owned, and managed network of connected services. Cosmos' apps and services connect through Inter-Blockchain Communication protocol (IBC). It allows you to exchange assets and data across sovereign blockchains. What problem does Cosmos solve? Scalability The shared transaction rate of 15 transactions a second prevents decentralized applications on Ethereum Blockchain from operating. This is because Ethereum continues to use the Proof-of-Work mechanism and its Decentralized Applications compete for limited resources of one blockchain. The problem is not just Ethereum. Every blockchain can create a single platform to suit all use cases. Cosmos' Solution Cosmos utilizes two types scalability: Vertical Scalability It provides methods to scale blockchains. Tendermint BFT handles thousands of transactions per...

What is a Stablecoin, and what are its benefits? Stablecoins can be described as a cryptocurrency that has a value associated with tangible assets such as gold, real estate, or US dollars. This association of a stablecoin with a tangible asset serves to stabilize the price and protect against fraudulent activities within the cryptocurrency ecosystem. Different types Stablecoins Fiat-Backed These stablecoins can be backed up with fiat currencies. Fiat-Backed stablecoin tokens keep their value at a ratio 1:1. Non-collateralized Non-collateralized stabilitycoins can be those that are not secured by collateral. These stablecoins will be those that are based on the Seigniorage Shares fundamental. The difference in the printing cost of the money versus its value can be explained using the Seigniorage concept. Cryptocurrency-backed The crypto-backed, stable currency functions in the same manner as the legal-backed stable currency. It prohibits the use crypto as collateral, inste...