Ethereum Vs Cosmos: Which blockchain wins?
As users and newcomers discovered during the 2021 bull market, monolithic blockchains are not fit for meeting the shooting demands in Web3.Sky-high gas prices, congestion, or stability difficulties posed serious questions. Thus, catering to the demands of billions of people worldwide seemed like a distant dream.
Fortunately, many forward-thinking developers have long foreseen these issues. They have been working on roadmaps to establish a network of modular blockchains, the two most notable of which being Ethereum and Cosmos.
In this blog post, we’ll take a close look at Ethereum vs Cosmos; breaking down their features in terms of performance, scalability, security and cost efficiency and see which one wins.
Ethereum is an open source technology that revolutionized how we create and utilize blockchain applications. Ethereum uses self-executing smart contracts to build Decentralized Apps (Dapps).
Ethereum also calls itself the “internet of assets.” The blockchain offers a robust platform to power decentralized finance applications, non-fungible tokens, and more — making it one of the leading blockchain networks.
However versatile the chain might be, it couldn’t escape the blockchain trilemma, a term coined by Ethereum founder Vitalik Buterin himself.
- The blockchain Trilemma: The Blockchain Trilemma is the bottleneck developers face in creating a blockchain that is scalable, decentralized, and secure — without compromising on at least one of the aspects.
- Interoperability: The new Ethereum 2.0 seeks to address the scalability by making the main chain congestion free enabling higher throughput. Having said that, Ethereum users faces another hurdle. To move their Ethereum based assets to other chains, they need to rely on bridges since Ethereum doesn’t “communicate” with other blockchains. In other words, Ethereum is not interoperable with other chains.
Cosmos has solved the issue of interoperability that has plagued second-generation blockchains for a long time by employing a modular architecture and other layer 1 solutions, and a proof of stake consensus system.
Cosmos has been dubbed the “internet of blockchains” due to its ability to provide an interoperable environment for decentralized applications, services and assets. Cosmos facilitates communications among multiple independent blockchains.
Its architecture is designed to seamlessly connect to a wide range of dApps and protocols, making Cosmos the platform for developers and entrepreneurs looking to leverage blockchain technology.
Ethereum Vs Cosmos : A comparison
The first thing to realize is that, unlike other big chains such as Solana, Avalanche, and Polkadot, the Cosmos blockchain is not a rival to Ethereum. Cosmos does not intend to replace Ethereum, nor is its infrastructure meant to foster such a goal.
Instead, it provides complementary blockchain development frameworks designed for the network’s developers, allowing them to construct their own blockchains.
However, Ethereum and Cosmos both offer distinct benefits that set them apart. Some of them are discussed below:
Ethereum (ETH) Vs Cosmos (ATOM)
Finally, we can say that Cosmos is a more efficient and cleaner approach, albeit Ethereum may still be successful if it were more scalable. The so-called Ethereum 2.0 seeks to address the problem, but it will take time to be truly effective.
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