![]() ![]() It incorporates fork accountability, which means double-spending attacks and censorship can be easily handled.The network needs only light client security, making it ideal for mobile and Internet of Things-related use cases.Tendermint can handle 10,000 transactions per second.Overall, Tendermint offers four distinct benefits in its approach to reaching consensus: The Cosmos whitepaper suggests that even in adversarial conditions, with validators (Cosmos uses a proof-of-stake approach to consensus) crashing or signaling malicious votes throughout the network, the network still performs above 1,000 transactions per second, which is significantly more than Bitcoin or other competing blockchains. Tendermint can process thousands of transactions per second, and the latency of commits on the network last between one and two seconds. Tendermint is a Practical Byzantine Fault Tolerance, meaning it successfully solves this problem. Nodes need to complete transactions without all of the data and be able to validate that everything is acceptable. Nodes don’t know whether their counterparts are good or bad. They need to trust each other without having all of the information. They work to validate transactions, but they have to work in a completely trustless environment. This problem occurs in all blockchains because blockchains are made of nodes communicating with one another. They all need to attack together, but the sheer size of the castle has them so far apart that it makes a coordinated attack virtually impossible. They are trying to coordinate an attack, but there are different groups of them. Imagine for a moment that an army living in medieval times is surrounding a castle. The Byzantine Generals Problem is a common problem to solve in any decentralized technology that allows for the exchange of value for assets, however defined. Tendermint and the Byzantine Generals Problem Not only did they develop Tendermint, but they also helped get the Cosmos project started in 2016, launched an initial coin offering a year later that raised $17 million and distributed $168 million in ATOM tokens to contributors. Peng Zhong is Tendermint’s head of design and a full stack developer. Tendermint CTO Ethan Buchman is a blockchain researcher out of the University of Guelph in Canada. Kwon also worked for Yelp, Scramble.io and Flywheel Networks. Tendermint is a mechanism that mitigates the risks associated with the Byzantine Generals Problem. Jae Kwon is the CEO of Tendermint, the underlying technology that helps Cosmos function. This intermingling of operators gives the project a wealth of experience on the team. The Interchain Foundation further contracts out portions of the development of the Cosmos project to All in Bits Inc., a corporation that provides Byzantine-fault tolerant and cloud-based solutions to tech projects. The Iris Foundation is yet another non-profit organization that oversees the creation and implementation of the Cosmos Hub IRISnet. The Interchain Foundation is the top-level, non-profit organization that oversees the entire project. The Cosmos project is maintained by three different organizations. ![]() ![]() Cosmos ATOM token ranks as one of the top fifteen most valuable cryptocurrency projects on the planet. The team, an innovative roadmap, and the technical implementations that make up the Cosmos project are the fundamental reasons the network and its ATOM tokens collectively hold a market value of over $850 million. ![]()
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