With the implementation of ATOM 2.0, the "Internet of blockchains," which has been the overall goal, is becoming a reality.
One prominent example of a blockchain with a DEX is Osmosis, which can potentially be connected with other protocols and lets you swap different Cosmos assets that have been sent in from other Cosmos chains. Mars Protocol, a lending platform for the entire Cosmos ecosystem that makes use of the interoperability and composability features offered by Cosmos, is another illustration.
What Is ATOM 2.0 Whitepaper?
The Cosmos Hub is transitioning to a new role - assisting a growing ecosystem of interoperable blockchains to flourish while remaining relevant - now that the foundations of the internet of blockchains have been established with multiple blockchains live for quite some time and working together, and billions of capital locked across multiple chains.
Interchain Security (ICS), Liquid Staking, Interchain Scheduler, and Interchain Allocator—four new technologies that sit on top of the Cosmos Stack—will be used to do this. Let's go over each one one by one.
In order to create the next generation of interchain-native infrastructure and decentralized applications (dapps), Interchain Security will upgrade the Cosmos Hub into a safe platform, opening up new cross-chain options and stimulating innovation.
With the help of Interchain protection, a larger chain—known as a provider chain—can provide protection to a smaller chain—known as a consumer network—in exchange for a portion of the gas costs and staking rewards from the consumer chain.
For instance, the interchain security mechanism can be used to protect a more recent chain like Quicksilver from an older chain like the Cosmos Hub. As a result, blocks for the Quicksilver chain might be created by the validator installed on Cosmos. Additionally, it employs ATOM as a staked asset, meaning that if a user engages in bad behavior on the Quicksilver chain, their ATOM will be immediately destroyed on the Hub.
When Did ATOM 2.0 Come Out?
In a fiercely disputed referendum, the Cosmos Hub community rejected the ATOM 2.0 proposal; the initiative failed despite receiving support from the majority of voters. The Cosmos Hub community chose to reject Proposal #82, "ATOM 2.0: A new vision for Cosmos Hub , " earlier this morning after weeks of discussion and a heated two-week voting session.
Summary
The fact that ATOM 2.0 was such an ambitious and intriguing project might have contributed to some of its issues. The community had anticipated that the 26-page whitepaper would only make minor changes to the ATOM token.
