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What is Cosmos?
Before learning about Umee, it's important to have a basic understanding of the Cosmos ecosystem.
Cosmos is an ecosystem of interoperable and sovereign blockchains, often referred to as "The Internet of Blockchains." Cosmos users enjoy fast and inexpensive transactions combined with smooth instant transfers between blockchains. Cosmos builders are provided with the tools they need to deploy a blockchain optimized for their specific needs. The future is multi-chain, and Cosmos is building out the infrastructure needed for web3 to achieve mass adoption.

What Makes Cosmos Unique?

Cosmos doesn't compete with other blockchain ecosystems, but rather complements them.

In other blockchain ecosystems like Ethereum:

  • Apps are built and deployed on top of a common blockchain or layer 2 sidechains that rely on a main blockchain, making all applications limited by the main chains capabilities;
  • As more is built on a single blockchain the user experience typically deteriorates due to the need for higher transaction fees to compete for limited block space;
  • Everything built on top of a single blockchain is affected by the success/failure and governance decisions and changes made to the main blockchain;
  • Moving funds across different blockchains can be challenging and often relies on centralized bridge providers.
With so many builders creating different products with different goals in mind, it's not efficient for builders all to rely on a single blockchain.

In the Cosmos Ecosystem:

  • Most applications are built as their own blockchains which allows for better latency, enhanced scalability, less concentration of risk, and more customizability so builders can make adjustments to optimize chains for various use cases;
  • Blockchains are interoperable by default;
  • The success or failure of one protocol or blockchain is less likely to have a major effect on others, making web3 safer for users and builders alike;
  • The Inter-blockchain Communication Protocol (IBC) allows users to easily and instantly move funds across blockchains without being exposed to a centralized bridge provider;
  • In the near future, shared security technology will allow Cosmos blockchains to rent security and consensus through the Cosmos Hub or other chains with large market caps for stronger network security.

Common Misconceptions

"Cosmos is the ATOM blockchain"
"Cosmos is an Ethereum competitor"
"Staking rewards are a form of income in the Cosmos Ecosystem"
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What Makes Cosmos Unique?
Common Misconceptions