Kris: Welcome crypto nation to
the battle of the blockchains. I’m Kris – here with Davey Zelaya the
Slaya as we pit Polkadot against Cosmos! Davey: There’s been a lot of tension building
between these two. As we know, there are hundreds and hundreds of blockchains in existence,
but who will be the one to unite them all? Polkadot and Cosmos are both
vying for that top position to be THE ONE to connect all blockchains together.
Kris: Relay chain or hubs, bridges or pegs, Substrate or Cosmos. Let’s not get too
technical. We’re here to find out which one will win the fight. While they certainly
do it differently, both projects share one aim: to build interoperability between blockchains.
Davey: so let’s get down to what matters most: Security. Polkadot operates under a shared
security model so that new and smaller chains can basically bootstrap and outsource their
security to Polkadot instead of trying to secure their network on their own.
Kris: The downside to this is that if the Polkadot GRANDPA consensus goes down, so does
everyone in the relay chain.
And don’t you think it might give the Polkadot validators a little
too much power? How much do you think that shared premium security will cost in terms of tradeoffs?
Davey: This is where Cosmos could have an edge. Cosmos is big on sovereignty and each chain
securing its own set of validators. Chains can request for a hub to pool security,
but overall, the Cosmos framework gives individual chains more control.
Kris: But it’s each to their own here. Some networks just want to get up and running
without expending too much on security. Plus, all Polkadot chains will trust in their shared
and uniform security, ultimately enhancing interoperability with each other.
Davey: That’s a great point, Kris. It does sound more efficient but, can.
scale? How many blockchains can Polkadot support? At last estimate it’s around 100 parachains.
100 sounds like a lot, but Cosmos
essentially has no limits.
And you also have to stake a sizeable amount
of the DOT token to launch a chain on Polkadot while anyone can build on the Cosmos
network without such restrictions. Kris: Which brings us to governance.
Polkadot on-chain governance is determined by DOT holders who vote for
changes based on their staked amounts. Now, the Cosmos hub works in a similar way, with
ATOM holders allowed to vote on proposals. But, unlike Polkadot, each chain in the Cosmos
network actually follows its own set of rules. Davey: Cosmos could actually be better for
multiple blockchains wanting to maintain greater sovereignty, while still being
connected with other blockchains. Kris: But we all know that it
comes down to the network effect. Who has the biggest ecosystem and builders? Davey: The Cosmos network is already home to
many big names including Binance, BAND protocol, Bluzelle…and those are just the ‘B’s in the list!
Kris: Polkadot’s ecosystem is just as formidable. How can you look past its cousin Kusuma,
Polkadot’s canary network and testing ground enjoying great success.
mention other promising projects such as PolkaStarter and Moonbeam. In total over 300
projects are listed on PolkaProject which is nearly double that of Cosmos to date.
Davey: That’s certainly hard to beat.
Who’s going to be the reigning
ruler of blockchains? Or is the crypto universe big enough for two? One
thing is for sure…once either succeeds, it’s the beginning of a new era for blockchains. Kris: You decide who wins in the comments.
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