A thread on $DOT, $ATOM, @cosmos, and @polkadot
Both projects are predicated on the core idea that in order to have ETH like programmability/interoperability, applications need to have separate chains, preventing congestion on the overall network.
The difference comes in how they to achieve this. @polkadot's model is that all interactions between separate chains will be intermediated through a "relay chain" via a protocol called XCMP.
$DOT is designed to manage the scarce space on @polkadot. Applications that want to use XCMP must buy $DOT to both rent out a slot on the @polkadot chain and pay fees. Many investors see this value capture as key to the value of $DOT, but it is unlikely to materialize.
The XCMP protocol is still in the specifications phase, where as IBC is complete and will be live on the @cosmoshub in early 2021. This means that @polkadot, as an ecosystem, is at least a year behind from a core technology prospective, as well as having an explicit tax on usage.
With all this in mind, why would a chain pay the $DOT tax when they can use the functioning, permissionless IBC protocol to accomplish the same thing? Here's a hint: they won't, those chains will be using IBC

github.com/cdot-network/s…
But, what about muh value capture you say? $ATOM doesn't have any use you say.

Well this is where you would be wrong. The @cosmos community has built out the core infrastructure of the platform and applications on top: @terra_money @thorchain_org @bandprotocol @OKEx etc...
On top of this core infrastructure and community we have developed and are building the $ATOM2021 roadmap to accelerate value capture for $ATOM. This roadmap has been formulated with the decentralized architecture of IBC in mind from the beginning.

github.com/cosmosdevs/ato…
By the time @polkadot chains begin adopting IBC en masse and $DOT is forced to pivot its value capture strategy, it will be too late. They will still be years behind $ATOM, with no hope of catching up.

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More from @jack_zampolin

9 Apr 20
A quick thread on the primitives that make up #ibc. There are four major ones:
1. Clients
2. Connections
3. Channels
4. Packets

🚀👨‍🚀🌔👩‍🚀👇
In IBC, a "Client" is an instance of a lite client for another chain that is committed to state. This piece is fundamental to the function of #ibc. All other primitives rely on clients to prove their data was included in the counterparty chain.

github.com/cosmos/ics/tre…
Once we have a client to prove data, we create a "Connection". This requires 4 transactions, 2 on each chain. The clients are updated throughout to prove the newly committed state on both chains.

github.com/cosmos/ics/tre…
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