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Submission: On November 09 via api from US — Scanned from DE
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Learn Build Network Community Ecosystem Launch App Menu Close Learn Discover * About UX Learn about UX and our mission * Analytics Check the platform statistics * Blockchain Basics Essential information every crypto user should know * Blog Important updates, educational content, and community events * Careers Apply to join UX Guides * Creating a Wallet Learn how to create an interchain wallet * Lending with UX Lend cross chain tokens with UX * Staking UX Secure the blockchain and earn staking yield * Funding a Wallet Fund your wallet with tokens to use on UX * Borrowing with UX Borrow cross chain tokens with UX * New Asset Listings Propose a new asset to be listed on UX Build Developers * Nebula Wallet CLI Build wallet applications on UX * UX Liquidator Toolkit A liquidator tool for UX's native leverage protocol Tutorials * Developer Docs Build in the UX ecosystem * Validator Docs Learn how to run a validator on UX Network Block Explorers * Mintscan * NodesGuru * Ping.pub * ATOMScan Testnets * Canon Testnet Website Validators * Validator Community Connect with validators on Discord * Validator Documentation Learn how to run a validator on UX Community Socials * X * Discord * Telegram * Medium * YouTube * Reddit Governance * Community Governance Learn how UX's governance processes work * Governance Forum Join the conversation to help determine UX's future * Voting Dashboard Vote on live governance proposals here DAOs * Validator DAO The DAO that governs UX's delegation decisions Ecosystem Apps * UX App The most programmable, safety-first, autonomous lending algorithm built as a blockchain * Cosmos Multisig App An ecosystem tool for multi-sig users in Cosmos Launch App September 27, 2023 WHAT IS INTERCHAIN SECURITY IN COSMOS Interchain Security, a unique tool within shared security, relies on the Inter-Blockchain Communication (IBC) protocol to monitor and manage validators. By Naman Share: TL;DR In the dynamic world of blockchain technology, security is a paramount concern. One fascinating development in the Cosmos ecosystem is the introduction of Interchain Security, a concept designed to enhance the safety and functionality of the entire network. In this blog, we'll dive into what Interchain Security means for Cosmos DeFi and explore its potential impact on the ecosystem. Video: https://youtu.be/NqLh87cr1EM LEARN THE BASICS Before delving into Interchain Security, it's important to grasp the fundamentals. In proof-of-stake networks like Cosmos, security is closely linked to the value of staking tokens. Higher token values translate into greater network security. However, smaller or newer networks often face security vulnerabilities due to limited stake participation or low value at stake. To address this challenge, some networks, including Cosmos Hub, have started collaborating to bolster their security. Cosmos Hub, for instance, shares its staking resources with other chains, creating a collaborative security ecosystem. WHAT IS INTERCHAIN SECURITY? Interchain Security allows a consumer chain to inherit the security of a provider chain, which is a more established Cosmos blockchain with a high value staked on it. This means that the consumer chain does not need to operate its own validator nodes, and it can rely on the validators of the provider chain to secure it. HOW DOES INTERCHAIN SECURITY WORK? Interchain Security, a unique tool within shared security, relies on the Inter-Blockchain Communication (IBC) protocol to monitor and manage validators. It works by enabling the Cosmos Hub to generate blocks for a Consumer Chain. Validators running nodes for both Cosmos Hub and the Consumer Chain stake ATOM tokens for participation. By approving a governance proposal, a Consumer Chain can utilize the same validator set as Cosmos Hub, thus gaining enhanced security. This integration ensures that both the Cosmos Hub network and participating Consumer Chains benefit from the staking of ATOM tokens, reinforcing security and stability. Learn more: What is IBC? CONSUMER CHAINS: A VITAL COMPONENT A critical factor in the success of Interchain Security is the commitment of Consumer Chains to share rewards with their delegators, who contribute to the security of the network by staking ATOM. This synergy creates a win-win situation: delegators support network security and reap rewards in return. Cosmos serves as the pioneer ICS Hub in the ecosystem, with Consumer Chains sending a portion of their rewards to ATOM delegators via the provider chain. Delegators simply need to choose a reliable validator, and they'll witness their rewards grow, adding value to their ATOM holdings. BENEFITS BEYOND SECURITY Interchain Security offers more than just enhanced security; it provides Consumer Chains with the advantage of utilizing Cosmos Hub's resources while maintaining their own scalability and sovereignty. This collaborative approach eliminates the need for Consumer Chains to search for validators, as Cosmos Hub validators can extend their services through governance votes. Consumer Chains also introduce new functionalities to the Cosmos Hub. Learn more: UX’s Security & Audits INDEPENDENCE IN THE ECOSYSTEM Consumer Chains retain the flexibility to become independent at any time by establishing their validator groups. Although they remain interconnected through Cosmos Hub, they also establish connections with other independent chains via IBC, expanding their reach and influence. INTERCHAIN SECURITY V2 For established blockchains on Cosmos, Interchain Security V2, known as Layered Security, combines the staking tokens of the Consumer Chain with those of the Cosmos Hub, bolstering security with increased market capitalization. In conclusion, Interchain Security promises a new dimension of security and functionality for the Cosmos ecosystem. It enhances security, fosters collaboration, and streamlines blockchain launches, making Cosmos an even more attractive environment for DeFi projects. As we eagerly await its launch, Interchain Security stands as a testament to the continual evolution of blockchain technology. Share: RECEIVE THE LATEST FROM UX, DIRECT TO YOUR INBOX One monthly digest, and nothing else - promise! Submit Join us in building the future of cross chain DeFi! Launch App Learn Discover * About UX * Blockchain Basics * Careers * Blog Guides * Creating a Wallet * Funding a Wallet * Staking UX * Transferring to UX * Lending with UX * Borrowing with UX Build Developers * Nebula Wallet CLI * UX Liquidator Toolkit Tutorials * Developer Docs * Validator Docs Network Block Explorers * Mintscan * NodesGuru * Ping.pub * ATOMScan Validators * Validator Community * Validator Documentation Testnets * Canon Testnet Website Community Socials * X * Discord * Telegram * Medium * YouTube * Reddit Governance * Community Governance * Governance Forum * Voting Dashboard DAOS * Validator DAO Ecosystem APPS * UX App * Cosmos Multisig App Support * FAQs * Brand Kit © UX 2023 Privacy Disclaimer Terms of use COSMOS NATIVE LENDING IS LIVE! A New Journey of Lending & Borrowing in Cosmos! Enter UX