Friday, December 8, 2023

What is Interchain Security, and why is it crucial to the Cosmos (ATOM) ecosystem?

Informal Systems developing core software and protocol for Cosmos released the preview of its new shareable security model “Interchain Security.” This feature will improve the security of Cosmos blockchains and make it easy to launch a new blockchain.

Shared Security on Cosmos

Proof of stake feature has revolutionized blockchains. A network can be secured only with token stake and there is no need to use the hash rate. Bigger networks with more valuable tokens are more secure. The security increases as more values are staked.

Difficulty for Blockchains with Low Market Capitalization

Emerging and small blockchains have struggled when they have low market capitalization and fewer resources. These shortcomings make their network vulnerable to attacks and it affects their market position. Cosmos was developed as a blockchain Internet – a large network of interoperable and interconnected blockchains. The security features of Cosmos Hub are shared with other blockchain systems. Its capital can be used to validate blocks on the smaller and less resourceful chains.

Different shared security setups have been adopted by different blockchain networks. Interchange Security is specific to the Cosmos network. It has been built with IBC (Inter Blockchains Communication Protocol). This launch is the most important update for Cosmos. It will allow the building of blocks for consumer chains securely at Cosmos Hub. This goal is achieved by allowing the validators to execute 2 nodes, one for its Cosmos Hub and another for the consumer chain.

Validators wanting to participate in a consumer chain stake its ATOM tokens. Any misbehavior or downtime on a consumer chain ends up at the source chain where “slashing” technique is used to destroy the staked tokens of ATOM. Different blockchain networks use different shared security systems, including sharding, zk-rollups and optimistic rollups.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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