Hello everybody Welcome to Blockchain Brazil Channel. I am Douglas and I have Andre here with me and Alex He is a Cosmos Developer and he is going to talk a little bit about the project and Andre will start with some questions. First of all, thank you for taking your time here with us. It’s an honor to do an interview with you. Thank you! Can you please introduce yourself and tell us about your roll at cosmos? Yeah, so I am Alex one of the core lead engineers in the cosmos SDK team I’ve been with the company for over a year now and I I pretty much helped it make it work its way towards the mainnet launch… and now working on improving the scalability and interoperability aspects of the SDK and the developer economics as well All right, sounds good, so first of all can you give us a brief intro into Cosmos? What is Cosmos in a nutshell? Wow Cosmos in a nutshell? Yeah, of course The main Two things. I believe the cosmos SDK strives to achieve are interoperability so essentially having all these sovereign chains that exist whether it would be Pegs zones whether they would be side chains whether they would be be you know, whatever For them to interoperate and be able to talk to one another and transfer assets, exchange data and the other big part of the cosmos ecosystem is provide tooling and a framework for developers to build their software / applications on and so the Cosmos network when we are talking about Cosmos When I was Reading about it. I could it as the Internet of the blockchains right? So I see as like we had the internet, like we had local networks and then the WAN, the Wide Area Network and Cosmos is kind of that connecting all the local networks. Yeah, so we have the local networks functioning like the blockchain The separate isolated Blockchains and then we have now we have the Internet That is connecting all the local networks into one place, so they can talk to each other. Does that analogy make sense? That analogy makes sense essentially what you’re describing is kind of this hub-and-spoke model that we typically use as an analogy So you can foresee many zones I guess like you were saying many LANs Yeah, isolated networks, and they communicate to one another through this concept of the hub which is a collection of these zones that all talk to one another, so it is a good analogy. Let talk about the Cosmos SDK. What language does it use? and… What does it give to you? What fuctions does it provide? Can you explain a little bit of the SDK? The SDK, yeah… so the SDK is pivotal in cosmos ecosystem The SDK as it exists right now is written in GoLang But the cool thing about it is essentially it can be written in any language you want Javascript, there is actually a Javascript library SDK implementation out there that’s been worked on in any language you want, so what the SDK strives to achieve is if you are familiar with a framework like Ruby on Rails Gives you the building blocks to build your own sovereign application specific blockchains The use cases are essentially limitless, you can have Stable coin applications. You can have media social based applications and all these things will have some sort of common layer, like governance, staking basic asset transfer and so what we do in SDK is give you this notion of modules Modules are these things that you can kind of plug-and-play, you can choose to put in your own application Is it like Libraries? It is like Libraries, so like a staking model of governance model you find what fits your need for your application and you pick and choose those to compose your app and so the SDK provides you with these modules, but however, if something doesn’t fit your needs if something doesn’t work quite well for you We encourage you to fork it and to modify it to build your own modules so what you see In two three five years down the road is this giant ecosystem of modules that have been built on top of the SDK that what we want to provide so like Ruby on Rails you have the gems for ruby.. those are kinda the libraries that you can utilize on the rails Is there something similar in the Cosmos SDK? Those are the modules that you are talking about? Is there any packaging or something like that? so because we’re so early in the ecosystem we don’t really have anything quite yet like bundler or npm, but as that is our intention is to have ability to index and search upon all these modules In regards to integrating existing blockchains into Cosmos? How does that work? is there any existing blockchain already integrated with the Cosmos network like Bitcoin, Litecoin or Ethereum? Yeah, it’s a good question. And I think that’s one of the biggest selling points or key attributes of the cosmos ecosystem, so essentially What were the solution we are providing, you know? one of the bigger selling poits is what we call IBC, this language if you will that many cosmos zones many, you know independent blockchains can use if they so choose to implement to talk to one another so for example Bitcoin You can implement something that is called pegs zone to exchange essentially Bitcoin to another application that’s built on SDK, through IBC To answer your question. Is there anything currently existing? There are numerous projects that have taken the EVM and built it on top of Tendermint, which is our consensus layer but it’s not quite yet ready to connect because IBC is literally in the development stage as we speak I believe we will have on testnet later on this year, so you’ll start seeing something in a few months I have a question now so since we are trying to interconnect all these blockchains right? so if a company decides to create their own blockchain for their needs. If they use Cosmos The Cosmos Blockchain to create their blockchain so how that works behind the scenes? How the Cosmos will essentially speak with Ethereum blockchain? or any other blockchain? yeah so in order for something like that to work, in order for something like Ethereum to work… an ERC20 contract like Like Die or something like that, what you need to do is launch what we call it Peg Zone launch a Peg-Zone which is a zone sovereign application in the network. And what happens is you essentially have to have means that locks the ERC 20 token in Ethereum and essentially mints an equivalent amount of those tokens in the peg-zone And once those tokens are written in the peg-zone they are free to use them and to transfer them how you wish, as long as you have access to those tokens When you’re ready to transfer them back to Ethereum You burn the tokens in the Peg-zone And then you unlock the tokens in Ehtereum so the peg-zones works as a bridge? Bridge or reservoir? It acts as a bridge, the thing you have to be careful with it is because Ethereum is not Instant finality chain you have to have certain over block confirmations, typically to wait before you can safely transfer and access, with other blockchains let’s say it’s not Ethereum, but you have another chain that is Instant finality like Tendermint it would be instant Now my last question is regarding ATOM the coin is there? What is that coin actually related to What is the function of ATOM? Yeah.. That’s my main question, what is the function of ATOM? This is a question that I think comes up a lot right? What gives ATOM value? Yeah, correct. Yeah So The cosmos network is a proof of stake system The entire security model of the network Is related to that notion that’s of proof stake system. And what you need to do is essentially put up collateral in the form of ATOMs these coins that you stake that you vote on to validators, the more collateral you put on the network The more secure essentially you can kind of guarantee the network, so the ATOM is directly correlated. This is securing the network. right… the less ATOMs that are bonded the the less secure and the easier is to commit some sort of malicious Byzantine effects, right so the more stake you have bonded, with the more ATOMs you have bonded the higher the security so what gives it a value is essentially the cosmos is this hub, now as we have zones spinning up and went to communicate with one another through IBC They’re going to talk through the HUB, right? Because it like you don’t essentially have to hop You know ten different zones to talk between two points If you have an application, I have an application we both trust the hub we don’t have to talk to anyone I trust the hub and since you trust the hub we can trust one another And so in order to do that There has to be collateral… right… there has to be security in this HUB. And that’s where the ATOM comes into play. so.. The more ATOMs that are staked the higher the security there is in the system and the final security is in the system This kind of safety you have.. more trust in the network. of course you can have other HUBs spin up and we don’t need the ATOM in that case.. but we foresee that many zones will interoperate through the HUB and that’s where the value of the ATOM comes into play so now one question that I am sure the Brazilian Community would love to know is How many coins do you need to run a node to get a validator? this is a good question… I guess price the price will be changing because of the price of ATOM, right? so lets maybe just consider the amount of coins to be able to be a validator. Yeah good question… so… The network runs again through a bonded proof of stake system which under the hood runs Tendermint In Tendermint There is a fixed set of values currently a hundred This is configurable and you can change it through governance. People can say this is too low.. I want to increase it, let’s cast a vote.. increase it to say… 200.. whatever the number is There’s a finite number of values written to be producing blocks The number of tokens needed to become a validator is essentially one more than the lowest one so there’s a hundred validators and the very last one. That means the least amount of tokens to say he has thousand. You need ten thousand of one so he gets kicked out, and then you join, and so essentially that’s amount of tokens you need and like you said The value of ATOM goes up AND down. So one day maybe you need $10,000 to became a validator, but the price doubles the next day.. it is now 20 thousand dollars. So it depends… it depends on how… this is whole an open question… I get it… So basically lets see if I understood that… The more amount of coins you have on that validator The more chance you have to stay in that a hundred range yes, if you have… if you have… A hundred thousand more coins lets say than everyone else… you probably will never get kicked out And this is an open network and people are free to choose to bond to whom they may wish.. but we obviously encourage a decentralized system and we encourage delegators to choose wisely to distribute their coins because It’s in the best interest of the network to be decentralized We don’t want cartels We don’t want centralized organization to run the network. So that’s good! So we are about to wrap it up here… One final question is how you guys are doing with the roadmap and if there’s any new things that you guys are gonna be adding to the roadmap for the rest of 19 and maybe 20 yeah.. so the two kind of major camps are wrapping up finalizing IBC, you know, that’s the kind of big catalyst for the network is being able to actually communicate I have this chance to prove the case.. so IBC is our memphis to kind of test that out and once we are testing that out to also do something similar to what we did last year, which is game stakes for a IBC and the other roadmap is the Tendermint, so there’s a lot of cool improvements that we are looking to do on Tendermint to even kind of look into things like New engines like Libra and hot stuff implementing a IBC for them We want to kind of create this environment where it’s not just Tendermint but many chains That can work with the SDK and then even within the SDK our map includes things like the improving developer economics adding various integrations things of that nature so I think we can wrap it up… we want to say thank you very much for your time… we really appreciated. Folks, we are finishing up with Alex we thank him a lot for his time.. and I will see you later!


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