Cosmos Community To Vote On The Network’s New Security Model

The Cosmos community is expected to vote on governance proposals made by developers to bring forward changes to its ecosystem. The proposal includes changes to the interoperable blockchain’s security mechanism and native asset – ATOM.

Cosmos Community To Vote On The Network’s New Security Model

Interoperable blockchain network Cosmos will decide on introducing a new security protocol for the Hub, its central blockchain, in a governance vote which will be held today. Cosmos is an interoperable network of chains that uses the Inter Blockchain Communication (IBC) protocol to interact with one another and the central blockchain.

In September, Cosmos developers released a whitpaper document proposing new security functionality for the Hub. This proposal also contained an interchain security mechanism that would allow certain chains on the blockchain ecosystem to secure themselves using the Cosmos Hub. There was also a proposal to bring changes to the platform’s native asset, ATOM, to make it the collateral asset of choice for the entire network. The idea for ATOM 2.0 is also put for a governance vote today. According to developers, Cosmos will transform into an infrastructure service platform if the proposals are approved by the community.

At the time of writing, ATOM is trading at $14.22, rising 3.14% in the last 24 hours.

Related News

Blockchain News Projects

Gucci Is Bringing Luxury Fashion To The Metaverse

Gucci Is Bringing Luxury Fashion To The Metaverse

Luxury Italian fashion house Gucci has launched ‘Gucci Vau...

Binance Will Assist Elon Musk In Fighting Twitter Bots

Binance Will Assist Elon Musk In Fighting Twitter...

Crypto exchange Binance, an equity investor in Elon Musk’s...

Blockchain Association Files Amicus Curiae In Ripple Case

Blockchain Association Files Amicus Curiae In Ripple Case

The Washington-based crypto advocacy group has requested to ...

Matter Labs Releases zkSync 2.0 Mainnet In “Baby Alpha” Testing Phase

Matter Labs Releases zkSync 2.0 Mainnet In “Baby...

Ethereum scaling solution provider Matter Labs has released ...

El Salvador And Lugano Sign Economic Agreement To Cooperate On Bitcoin Awareness

El Salvador And Lugano Sign Economic Agreement To...

El Salvador and the city of Lugano have signed an agreement ...

THORChain Back Online After Halting Services For 20 Hours

THORChain Back Online After Halting Services For 20...

The decentralized cross-chain exchange is back online after ...

Are you a journalist or an editor