Interoperability-oriented blockchain platform Cosmos has unveiled a new whitepaper proposing a Cosmos hub intended at strengthening interoperability and security, along with making changes to its native ATOM token, as reported by Cointelegraph.
According to Cointelegraph, the new Cosmos whitepaper was released recently at the Cosmoverse conference in Medellin, Columbia. Technically, the upgrades mentioned in the whitepaper are yet to be implemented but changes are expected to done on-chain in the first week of October. Reportedly, Cosmos is an infrastructure of blockchains created to scale and interoperate with eachother. Cosmos Hub was the first blockchain to be developed on Cosmos, which initially served as an intermediary between other interconnected blockchains.
On the basis of information by Cointelegraph, the ATOM token is used for transaction purposes within the Cosmos ecosystem, which can also be utilised for governance and staking purposes. As stated in the proposed changes, Cosmos will become a more interoperable, decentralised and secure ecosystem. Billy Rennekamp, product lead, Cosmos Hub, added that the value proposition behind this transition to Interchain Security would also make the Cosmos Network decentralised.
“Interchain Security gives consumer chains a faster, easier, and cheaper path to market [and] the development platform afforded by Interchain Security allows […] third parties to utilize the Hub’s essential infrastructure to build commercial applications,” a whitepaper stated.
Moreover, Cointelegraph noted that the whitepaper drafted a plan to to further accrue more value to the ATOM token by allowing leveraged liquid staking. This will permit ATOM holders to unstake ATOM tokens the way they were staked, which will be enabled by Cosmos’ liquid staking module. The release of the whitepaper happened a few weeks post research and investment firm Delphi Labs announcing a shift of its R&D efforts to emphasise on the Cosmos ecosystem. The research firm also outlined factors such as network speed, chain liquidity, decentralisation, cross-chain interoperability, among others.
(With insights from Cointelegraph)