dailyhodl.com
Leading members of the Cosmos (ATOM) community have unveiled a whitepaper for a redesigned Cosmos Hub, which is the technology at the center of its ecosystem.
According to the whitepaper, the new Cosmos Hub aims to drive the growth of the Cosmos Network as it transitions toward becoming a secure and holistic platform that allows developers to build interchain-native infrastructure and applications.
“Security is a necessary foundation to build essential components for the Cosmos Network, and the Cosmos Hub’s Interchain Security environment will be enriched with new capabilities that make it more useful, efficient, and cooperative.”
The paper also details a change in the tokenomics of the (ATOM) token, which will act as the network’s new reserve currency.
The changes are designed to give ATOM a more central and vital role in securing the greater Cosmos ecosystem. The platform will also introduce a native liquid staking model. This mechanism typically gives users who stake their assets a tradeable token in return, which can be swapped back for the original asset at any time.
Cosmos co-founder Ethan Buchman says that the proposed changes will be a major upgrade.
“In this new formulation, the Cosmos Hub ascends from its humble beginnings, and steps up more boldly to lead the interchain as it embraces new frontiers.
With the coming of Interchain Security & Liquid Staking, the stage is set for a new economy to form around the security of the Hub. The contours of that economy are outlined in the forthcoming paper & it will be up to the entire community to instantiate & evolve it over time.
But that paper is just a new beginning. A proposed new direction for the community to engage with, but by no means the final word. We have a lot of work to do together.”
ATOM is trading for $13.48 at time of writing.
Featured Image: Shutterstock/Mia Stendal