Why is ixo built on Cosmos?

First one must understand that when building a blockchain project, there are 2 ways you can take: build your own blockchain or simply run on top of an existing blockchain. Building your own blockchain - a custom chain - that is more advantageous to use than the ones already available is a tremendous task and the blockchain industry has only seen a handful of projects delivering on such promise.

As a result, as of writing (Jan 2020) Ethereum still is the dominating Smart Contract platform with over 80% of the DApps created on the Ethereum network (DApps stands for Decentralized Apps).

Ethereum has an incredible developer community & ecosystem. However we needed to make sure (i) our network is energy efficient [sustainable], (ii) our app can scale [performance], (iii) transactions fees stay low [cost] and (iv) ixo validators can be vetted and become key stakeholders of the network.

TLDR: Cosmos ticks all the boxes for the points mentioned above & has many more features on top.

Cosmos Hub is the “first public BFT blockchain powered by proof-of-stake”, it has an incredible track record & has consistently delivered on its promises. Sending Atoms - name of the Cosmos’ cryptocurrency - is very cheap (under 1c), energy efficient & extremely fast (under 1s). As of writing (Jan 2020) there is over 400M USD worth of staking (73.37% of the circulating supply) done across 100+ validators to secure the cosmos network, 80+ projects building on top of the Cosmos SDK and its 15+ modules. The Cosmos SDK simply allows us to build on top of the same technology that powers the Cosmos Network and while customizing for the need of the sustainability space at the protocol & application levels.

You can read more about the Cosmos project in this exclusive report.


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