"Polkadot and Cosmos: The Interoperability Leaders"
Blockchains today are like isolated islands, which are great in themselves but can't communicate with others.
Blockchains are great databases, but they are dumb at communicating with each other and lack interoperability.
1/n
Blockchains today are like isolated islands, which are great in themselves but can't communicate with others.
Blockchains are great databases, but they are dumb at communicating with each other and lack interoperability.
1/n
To transfer assets across chains, we have to use bridges, which come with inherent risks. According to @Cointelegraph more than $2.5 billion worth of assets have been lost in bridge hacks.
To solve this serious problem, developers around the world are building robust solutions.
To solve this serious problem, developers around the world are building robust solutions.
In this thread, we will learn about the two interoperability leaders Polkadot and Cosmos point by point.
Link to the detailed article:
prophetdotsama.medium.com/the-rise-of-po…
Link to the detailed article:
prophetdotsama.medium.com/the-rise-of-po…
1⃣ Architecture
@Polkadot uses a relay chain–parachain model. The relay chain is central hub whose job is to secure and enable interoperability among the parachains.
#Parachains are application-specific chains that communicate with other chains in a trustless manner using XCM.
@Polkadot uses a relay chain–parachain model. The relay chain is central hub whose job is to secure and enable interoperability among the parachains.
#Parachains are application-specific chains that communicate with other chains in a trustless manner using XCM.
@cosmos uses a "hub and zone" model. There can be multiple hubs with their own set of interconnected chains called "Zones."
Zones are independent application-specific (similar to parachain) chains that use the IBC protocol to communicate with each other seamlessly.
Zones are independent application-specific (similar to parachain) chains that use the IBC protocol to communicate with each other seamlessly.
2⃣ Security
Polkadot offers shared security. This means all parachains gets the multibillion-dollar security of Polkadot, regardless of their market cap.
Outsourcing security allows the blockchains to be highly scalable and decentralized, thus solving the blockchain trilemma.
Polkadot offers shared security. This means all parachains gets the multibillion-dollar security of Polkadot, regardless of their market cap.
Outsourcing security allows the blockchains to be highly scalable and decentralized, thus solving the blockchain trilemma.
The interconnected blockchains, called Zones in Cosmos, have to bootstrap their own validator set and are responsible for their own security.
However, Cosmos is dedicatedly working on implementing shared security with its Interchain Security Protocol.
However, Cosmos is dedicatedly working on implementing shared security with its Interchain Security Protocol.
3⃣ Validator Selection
Polkadot uses nominated proof of stake, where the dot holders nominate the validators by backing them with dot tokens to participate in consensus and get rewarded.
Out of 1000 validators, the top 297 are selected into the active set every 24 hours.
6/
Polkadot uses nominated proof of stake, where the dot holders nominate the validators by backing them with dot tokens to participate in consensus and get rewarded.
Out of 1000 validators, the top 297 are selected into the active set every 24 hours.
6/
Cosmos uses a delegated proof of stake consensus mechanism. Validators backed by a higher amount of ATOM tokens have higher chances of being selected to verify transactions, produce blocks, and earn rewards.
4⃣ Decentralization
Polkadot Relay chain currently has 297 validators and are backed by 21,570 nominators.
All validators receive equal rewards, irrespective of their stakes. This encourages the dot holders to nominate the validator with lower stakes to maximize their rewards.
Polkadot Relay chain currently has 297 validators and are backed by 21,570 nominators.
All validators receive equal rewards, irrespective of their stakes. This encourages the dot holders to nominate the validator with lower stakes to maximize their rewards.
As a result, the validators are equally staked and have nearly equal voting power.
This makes the network highly decentralized, and it requires 82 validators to acquire one-third of network power.
Thus, the Nakamoto coefficient of Polkadot is 82.
This makes the network highly decentralized, and it requires 82 validators to acquire one-third of network power.
Thus, the Nakamoto coefficient of Polkadot is 82.
Cosmos supports a maximum of 175 validators.
Holders delegate their tokens to validators, and validators get to produce blocks and earn rewards proportional to their stakes.
To acquire one-third of the network power, it requires only seven validators. Thus, the N.C Cosmos is 7.
Holders delegate their tokens to validators, and validators get to produce blocks and earn rewards proportional to their stakes.
To acquire one-third of the network power, it requires only seven validators. Thus, the N.C Cosmos is 7.
5⃣ Trustless Communication
@Polkadot is a shared-state machine where all the parachains share state with the entire system.
The state transition proofs of all parachains are finally verified by the relay chain validators. Thus, the "trustless" communication becomes possible.
@Polkadot is a shared-state machine where all the parachains share state with the entire system.
The state transition proofs of all parachains are finally verified by the relay chain validators. Thus, the "trustless" communication becomes possible.
On the other hand, Cosmos chains don't share state with the entire system. Consequently, the asset and message transfer is not trustless by nature and involves some trust assumptions.
6⃣ Onboarding barrier
In Polkadot, projects have to win a parachain auction to obtain a parachain slot and leverage the security.
However, there is another category called "parathreads," which are technically the same as parachains but will only pay on a per-block basis.
In Polkadot, projects have to win a parachain auction to obtain a parachain slot and leverage the security.
However, there is another category called "parathreads," which are technically the same as parachains but will only pay on a per-block basis.
There is no entry barrier in the case of Cosmos chains. The only requirement is that chains have to arrange for their own validator set.
7⃣ Limit on connected chains
The Polkadot relay chain has a capacity of 100 parachain slots.
There are slots reserved for nested relay chains (with their own network of chains) and parathreads.
A single parachain slot will be shared by 50 parathreads.
The Polkadot relay chain has a capacity of 100 parachain slots.
There are slots reserved for nested relay chains (with their own network of chains) and parathreads.
A single parachain slot will be shared by 50 parathreads.
On Cosmos, there is no limit on the chains that can be connected to the Cosmos Hub. Likewise, there is no limit on the number of zones or hubs.
8⃣ Project lifetime
Parachain slot could be leased for a maximum of 96 weeks. When a project loses its slot, it will automatically downgrade to a parathread.
It would now have to pay on a per-block basis temporarily until it gathers funds to win the parachain slot again.
Parachain slot could be leased for a maximum of 96 weeks. When a project loses its slot, it will automatically downgrade to a parathread.
It would now have to pay on a per-block basis temporarily until it gathers funds to win the parachain slot again.
Cosmos, on the other hand, does not involve any similar scenario. The chains could continue to interoperate with other Cosmos chains indefinitely.
Learn more about Parathreads here:
prophetdotsama.medium.com/what-are-parat…
Learn more about Parathreads here:
prophetdotsama.medium.com/what-are-parat…
9⃣ Developer activity
This is an essential metric for finding out the amount of development happening on the network. Having a higher level of development activity is positive for the project's growth and reputation as well.
This is an essential metric for finding out the amount of development happening on the network. Having a higher level of development activity is positive for the project's growth and reputation as well.
Polkadot and Cosmos both have significantly higher developer activity compared to other projects.
According to @MessariCrypto , the weekly commits in Polkadot and Cosmos are in 2nd and 3rd position respectively, with Polkadot having almost three times the dev activity of Cosmos.
According to @MessariCrypto , the weekly commits in Polkadot and Cosmos are in 2nd and 3rd position respectively, with Polkadot having almost three times the dev activity of Cosmos.
Conclusion
I hope the point-by-point comparison helped you understand Polkadot and Cosmos.
Interoperability is going to be the next big thing in crypto, and developer activity gives a clear understanding of which projects will dominate the sector.
I hope the point-by-point comparison helped you understand Polkadot and Cosmos.
Interoperability is going to be the next big thing in crypto, and developer activity gives a clear understanding of which projects will dominate the sector.
That’s a wrap!
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> Help me out with a Like/RT on the linked tweet.
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