Difference Between Cosmos and Polkadot, Explained By Senior Developer
Cosmos (ATOM), a leading cryptocurrency platform focused on enhancing blockchain interoperability, has been developed so that software engineers can create scalable and customizable, high-performance applications.
Like Cosmos, the proof-of-stake (PoS)-based Polkadot (DOT) platform also allows independent blockchain networks to communicate with each other. Developed by Parity Technologies, the creator of the leading Ethereum client, Polkadot uses a relay chain as its base chain on which several different parachains (short for parallel chains) are hosted (bonded).
Chains on Polkadot May Use Their Own Consensus Algorithms
Parachains on the Polkadot network use GRANDPA as their default consensus protocol, however other chains like Ethereum can use their own consensus algorithm - after connecting with Polkadot through the Bridge.
As explained by Gaurav Agrawal, the Founder of CryptoFi (a platform for creating invoices and getting paid in cryptocurrencies), all parachains on Polkadot have their own local state, rule, consensus mechanism, and block producers (referred to as collators).
Meanwhile, Polkadots Relay Chain allows the network to maintain a global state that is secured by the platforms transaction validators.
Interoperability: The Main Value Proposition
Agrawal, a computer science graduate from Banaras Hindu University, notes that interoperability is the main value proposition for both the Cosmos and Polkadot platform. He explains that both networks provide a communication mechanism between independent permissioned (private) and public blockchains that may have different state machines and consensus protocols.
Agrawal adds that Polkadots Relay Chain handles inter-messaging between different networks via arbitrary message passing (such as calls made to smart contracts).
Polkadot Uses Shared Security Model
According to Agrawal, the main challenge is securing the communication process that occurs between separate chains - in the event of chain re-org and/or fork.
These issues are addressed through Polkadots shared security model, which allows the same group of validators to secure multiple blockchains connected to the interoperability platform.
Providing Security Through the Relay Chain
Large and established blockchain networks such as Bitcoin (BTC) and Ethereum (ETH) have the greatest level of security when compared to smaller caps coins. This, as a large group of network participants, including miners, are helping to secure the BTC a ...Read full story on CryptoGlobe