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Author Topic: [ANN][COS] COSMOS, network of blockchains  (Read 22320 times)
jaekwon
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September 03, 2016, 07:03:32 PM
 #1

CØSMOS

Building a network of blockchains

Purpose

Cosmos is a project with an ambitious mission: To create a network of distributed ledgers that will solve long-standing problems in the cryptocurrency and blockchain communities.

Architecture

The Cosmos network consists of many independent, parallel blockchains, called zones, each powered by classical Byzantine fault-tolerant (BFT) consensus protocols like Tendermint (already used by platforms like ErisDB). Some zones act as hubs with respect to other zones, allowing many zones to interoperate through a shared hub. The architecture is a more general application of the Bitcoin sidechains concept, using classic BFT and Proof-of-Stake algorithms, instead of Proof-of-Work (see our whitepaper for more details).

Cosmos Hub

The first blockchain in the Cosmos network is the Cosmos hub. The Cosmos hub connects to zones via the novel IBC (inter-blockchain communication) protocol and keeps a record of the total number of tokens in each zone. Because all inter-zone token transfers go through the Cosmos hub, you can transfer tokens from one zone to another, quickly and securely, without the need for a liquid exchange or a trusted third party between zones.

The Cosmos hub can connect to many different kinds of zones, as long as each zone speaks IBC. As a result, Cosmos can support a variety of currencies and scripting languages like those found in Bitcoin, Ethereum, ZeroCash, CryptoNote, and more.


  

Interoperability

Cosmos can interoperate with multiple other applications and cryptocurrencies, something other blockchains can’t do well. By creating a new zone, you can plug any blockchain system into the Cosmos hub and pass tokens back and forth between those zones, without the need for an intermediary.

For example, if you wanted to trade bitcoins for ether today, you would have to sell your bitcoins for a fiat currency on an open exchange and then use that fiat currency to buy ether on another exchange. The problem is, many of our exchanges today are plagued by hacks, theft, and cons. Two prime examples are what happened at Mt. Gox and more recently Bitfinex.


  

Scalability

Scaling is another open issue for blockchains. Both Ethereum and Bitcoin support only a fraction of the transactions seen daily on payment networks like Visa or Mastercard. In contrast, zones allow Cosmos to scale out indefinitely. If your transaction speed slows in one zone because too many people are using it, you simply add another zone to the hub and direct half the users over that zone, thereby doubling your transaction speed. Meanwhile, the Cosmos hub ensures that any zones connected to it remain in sync.


  

Upgradability

Another problem blockchains run into is how to handle upgrades when new versions come out. Getting all of the validators (“miners” in the case of Bitcoin) to upgrade to a new version of a blockchain simultaneously is tricky, and could lead to hard forks. This is exactly what happened when Ethereum hard-forked into ETH and ETC due to political/governance issues surrounding the DAO hack. With Cosmos, upgrading is not an issue. You simply plug a new zone into the Cosmos hub, and invite users to move their funds over to it at their leisure.


  

Decentralization

One of the great tragedies of cryptocurrencies today has been their failure to interoperate with existing systems — and each other. Cosmos offers a way to link them together, but without creating a new centralized clearinghouse or exchange.

Cosmos is built on principles of cryptography, sound economics, consensus theory, transparency, and accountability to serve as a new foundation for our future financial systems.

You can use Cosmos as a testing ground for a new cryptocurrency design, an upgrade to an existing cryptocurrency, as a means for decentralized exchange, or as a platform for scalable smart contracts.

Cosmos is not just a single distributed ledger, and the Cosmos hub isn't a walled garden or the center of its universe — anyone can use this protocol to create their own hub to compete with Cosmos in a free market of blockchains

The only question is, what will you build on Cosmos?

Contact

Site - http://cosmos.network
Twitter - http://twitter.com/cosmos_hq
Slack - http://forum.tendermint.com:3000/
Video - https://www.youtube.com/watch?v=b-ytzLX-2EE

Announcements

Watch the Cosmos video!  https://www.youtube.com/watch?v=b-ytzLX-2EE
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September 03, 2016, 07:13:21 PM
 #2

dev is there any bounty for translations?
if yes than i will do hindi indian translation.
and goodluck for ur project, seems like it will good

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September 03, 2016, 07:20:08 PM
 #3

Hey dev, is this a fork of Blocknet? Or are you creating your own interoperability protocol from scratch?

twitter.com/notsofastcrypto
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September 03, 2016, 07:22:06 PM
 #4

I would reserve to an Indonesian translation.
you can see : https://bitcointalk.org/index.php?topic=1562709.0
this is my testimonial and reference  Smiley
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September 03, 2016, 07:33:05 PM
 #5

Is there a bounty for posting in this thread?

suprnova pools - reliable mining pools - #suprnova on freenet
https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
jaekwon
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September 03, 2016, 07:40:00 PM
 #6

Hey dev, is this a fork of Blocknet? Or are you creating your own interoperability protocol from scratch?

It's an implementation from scratch.  I'm the one of the main devs.  We've been building http://github.com/tendermint/tendermint since 2014.  It's a high performance BFT consensus/blockchain engine written in Golang from scratch, with an eye toward good software architecture.  http://github.com/tendermint/tmsp lets us write the blockchain logic in any language.
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September 03, 2016, 07:48:34 PM
 #7

This project looks really nice. One question for you dev. Will there be any translation bounties?

We will pay for good translations.  If you want to apply, first try translating the introduction of this whitepaper.

https://github.com/cosmos/cosmos/blob/6a15f001eac3cbceb0765b5b03b28a998acdc41a/WHITEPAPER.md

Don't post it here, just email it to us at translations@cosmos.network with subject "Whitepaper intro translation in YOUR_LANGUAGE".

Cheers =J
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September 03, 2016, 07:54:10 PM
 #8

This project looks really nice. One question for you dev. Will there be any translation bounties?

We will pay for good translations.  If you want to apply, first try translating the introduction of this whitepaper.

https://github.com/cosmos/cosmos/blob/6a15f001eac3cbceb0765b5b03b28a998acdc41a/WHITEPAPER.md

Don't post it here, just email it to us at translations@cosmos.network with subject "Whitepaper intro translation in YOUR_LANGUAGE".

Cheers =J

Interested. I will translate your whitepaper now Smiley
Indonesian will be reserve to me okay  Wink
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September 03, 2016, 08:32:59 PM
 #9


And would other bounties? (Twitter, avatar)

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September 03, 2016, 08:37:24 PM
 #10

Email sent for Filipino translation work request

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T O K E N  -  A S  -  A  -  S E R V I C E

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September 03, 2016, 10:25:26 PM
 #11

where link wallet?
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September 03, 2016, 10:47:49 PM
 #12

This announcement look really simple but complex, do you have any bounty ? i cannot see any link to the wallet, have you launched or this is just a pre - announcement thread?

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September 03, 2016, 11:59:24 PM
 #13

Done and sent translation of Introduction from whitepaper to Filipino Language

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September 04, 2016, 12:03:15 AM
 #14

This project looks really nice. One question for you dev. Will there be any translation bounties?

We will pay for good translations.  If you want to apply, first try translating the introduction of this whitepaper.

https://github.com/cosmos/cosmos/blob/6a15f001eac3cbceb0765b5b03b28a998acdc41a/WHITEPAPER.md

Don't post it here, just email it to us at translations@cosmos.network with subject "Whitepaper intro translation in YOUR_LANGUAGE".

Cheers =J

I got this, tomorrow ill work on this.

Cya

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September 04, 2016, 03:17:59 AM
 #15

Very promising project.
Watch today https://www.youtube.com/watch?v=9krAQzN6tbc where Ethan start with Rap bitcoin song  Wink
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September 04, 2016, 03:20:36 AM
 #16

Very interesting concept I may say. I'll be tracking on this.

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September 04, 2016, 01:12:57 PM
 #17

Surely I'll follow

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September 04, 2016, 01:33:08 PM
 #18

Is there a bounty for posting in this thread?

lol it's fun  Grin
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TaaS is a closed-end fund designated to blockchain


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September 04, 2016, 01:36:34 PM
 #19

dev looking for more info! twitter or face bounties? thanks!

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September 04, 2016, 01:41:48 PM
 #20

Good to see a new concept after a long time. following now,waiting for some airdrop  Wink

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September 04, 2016, 01:49:04 PM
 #21

Interesting project, keeping an eye on this

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September 04, 2016, 05:02:04 PM
 #22

is this the cosmos mentioned in the par.io paper? 
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September 04, 2016, 08:27:25 PM
 #23

is this the cosmos mentioned in the par.io paper? 

Yes
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September 05, 2016, 04:56:06 AM
 #24

is this the cosmos mentioned in the par.io paper? 

Yes
I just read few pages from their whitepaper. PAR already invested in Tendermint.
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September 05, 2016, 01:31:12 PM
 #25

Looks like decentralized wallets are the hype for the last months.

Your ann need to be more attractive.

You must show your face and the face of your team if exist, man, you want a crowfund of 9 million dollars. Please show who are you.

We are tired of anonymous developers.

Watching this.





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WeTrust.io


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September 05, 2016, 01:47:02 PM
 #26

Good luck first of all for your venture. I wish to see one another successful crowfunded project from this thread. Keep going. Don't give up.

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September 05, 2016, 03:09:19 PM
 #27

Looks really interesting.

I had to read the crowdsale info page a couple of times to understand it though and just to make sure I'm clear now:

 A 'bonded atom holder' is just someone who has voted for a validator, or is a validator, and therefore gets rewards? And getting 'unbonded' just means you don't get those rewards anymore? There is no definition of these terms so its very confusing.

Also there is a section which says: "One third of the total number of atoms will be distributed back to the bonded atom holders for having a stake in consensus. This is a tax (disincentive) for not putting atoms at stake, and not participating in governance during the first two years after genesis. " I presume this actually means one-third of the block reward rather than one-third of the total number of atoms?

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September 05, 2016, 03:15:55 PM
 #28

Looks like decentralized wallets are the hype for the last months.

Your ann need to be more attractive.

You must show your face and the face of your team if exist, man, you want a crowfund of 9 million dollars. Please show who are you.

We are tired of anonymous developers.

Watching this.



You can have check their web Site
http://tendermint.com/about/
many presentations:
https://www.youtube.com/watch?v=EfFVh1DIKds
https://www.youtube.com/watch?v=lYX7VIVz578
https://www.youtube.com/watch?v=9krAQzN6tbc
and much more ...
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September 05, 2016, 03:35:24 PM
 #29

good
i will bookmarks this thread
 Wink
quehuaiknrzr602
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September 05, 2016, 03:40:03 PM
 #30

I think you should provide more imformation
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September 05, 2016, 04:01:24 PM
 #31

I think you should provide more imformation

Check http://tendermint.com/


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  æ t e r n i t y
  The Oracle Machine
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✅ Unchained Smart Contracts
✅ Decentralized Oracle
✅ Turing-Complete
✅ State-Channels
✅ Infinitly Scalable
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September 05, 2016, 04:02:29 PM
 #32

Looks really interesting.

I had to read the crowdsale info page a couple of times to understand it though and just to make sure I'm clear now:

 A 'bonded atom holder' is just someone who has voted for a validator, or is a validator, and therefore gets rewards? And getting 'unbonded' just means you don't get those rewards anymore? There is no definition of these terms so its very confusing.

Also there is a section which says: "One third of the total number of atoms will be distributed back to the bonded atom holders for having a stake in consensus. This is a tax (disincentive) for not putting atoms at stake, and not participating in governance during the first two years after genesis. " I presume this actually means one-third of the block reward rather than one-third of the total number of atoms?

Thanks for your questions.  A bonded atom holder (or bonded stakeholder) is someone who put their atoms at stake by posting collateral with those atoms.  These atoms are said to be "held in bond".  Bonded atoms can't move unless they've become inactivated, and wait the "unbonding period".  Then they become unbonded and can be moved freely.  This is partially what solves the "nothing at stake" problem.  (Bonding is not a sufficient solution to the nothing at stake problem, the other solution is "fork-accountable" BFT consensus.)

A bonded atom holder earns inflationary rewards and tx fees, in proportion to how many atoms they have bonded (compared to the total number of other bonded atom).  Getting unbonded means waiting the "unbonding period", and yes, during the wait time and afterwards you are no longer earning rewards or tx fees.  In short, you're earning rewards and fees only if you put your tokens "at stake".

Block rewards and transaction fees *only* go to the bonded atom holders.  Besides the tx fees, there are inflationary atoms that are given to the bonded atom holders.  Every year, 1/3 of the total atom supply is inflated and given to the bonded atom holders.  As you can see, atoms are not a good store of value -- if you're not using them, putting them at stake by running a validator or delegating to other validators, you're paying the inflation tax.

Atoms aren't a good store of value, but other tokens on Cosmos may very well be.  If you just want to hodl, atoms aren't for you.  Otoh, if you want to have good op-sec and help secure the Cosmos zones, or if you think you know how to determine which validators are more likely to succeed/get-hacked, then atoms are for you.

Atoms are like virtualized proof-of-work miners.  There's no point holding them if you're not going to use them.
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September 05, 2016, 04:23:24 PM
 #33

This project looks really nice. One question for you dev. Will there be any translation bounties?

We will pay for good translations.  If you want to apply, first try translating the introduction of this whitepaper.

https://github.com/cosmos/cosmos/blob/6a15f001eac3cbceb0765b5b03b28a998acdc41a/WHITEPAPER.md

Don't post it here, just email it to us at translations@cosmos.network with subject "Whitepaper intro translation in YOUR_LANGUAGE".

Cheers =J

done but have received no answer. waiting on answer Cheesy


EDIT: i got answer on email. the guys are looking into it and are validating my work Cheesy

★★★ 200+ GREEK★★★TRANSLATIONS ★★★
FAST ★★★ FLAWLESS ★★★ CHEAP ★★★ https://bitcointalk.org/index.php?topic=1175769.new#new
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September 05, 2016, 04:23:47 PM
 #34

Looks like decentralized wallets are the hype for the last months.

We're not about decentralized wallets Smiley What makes you say that?
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September 05, 2016, 04:51:47 PM
 #35

Introduction for Hindi (indian) translation has been emailed.

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?


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Discover the Unbanked

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We bring 2 billion unbanked people to Global Economy

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September 05, 2016, 05:06:01 PM
 #36

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?

The only way to make sure you get in is by bidding in the initial 24 hours.

BTW, here's an announcement related to the crowdfund.

Announcement

We are currently considering an alternative private funding plan where we start funding with non-US/accredited investors.
If you qualify and are interested in bidding over $50K, please PM me or email us, prefund@cosmos.network.
Alternatively, if you have good-standing public reputation and have excellent op-sec and sys-admin skills, and are interested in running Cosmos hub validators, please PM me.
The ideal candidate meets both requirements, and is a legal entity.
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September 06, 2016, 05:55:50 PM
 #37

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?

The only way to make sure you get in is by bidding in the initial 24 hours.

BTW, here's an announcement related to the crowdfund.

Announcement

We are currently considering an alternative private funding plan where we start funding with non-US/accredited investors.
If you qualify and are interested in bidding over $50K, please PM me or email us, prefund@cosmos.network.
Alternatively, if you have good-standing public reputation and have excellent op-sec and sys-admin skills, and are interested in running Cosmos hub validators, please PM me.
The ideal candidate meets both requirements, and is a legal entity.

Then there will be no ICO? or this is an addition to the ICO?


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  æ t e r n i t y
  The Oracle Machine
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✅ Unchained Smart Contracts
✅ Decentralized Oracle
✅ Turing-Complete
✅ State-Channels
✅ Infinitly Scalable
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September 06, 2016, 06:13:47 PM
 #38

Tendermint sounds quite similiar to Etherum's Casper https://blog.ethereum.org/2015/08/01/introducing-casper-friendly-ghost/
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Why PPL very easy to manipulated using promise?


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September 06, 2016, 07:50:40 PM
 #39

It looks like interesting project with good prospect but i don't know if is it achievable


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jaekwon
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September 06, 2016, 10:51:34 PM
 #40

It looks like interesting project with good prospect but i don't know if is it achievable

It's certainly achievable.  I have a background in programming, so for us, the software isn't the hard part.  Getting the message out is the hardest part.  We need enthusiasts who believe in the formal approach to spread the message.

Slack is our biggest active community.  http://forum.tendermint.com:3000/

Cheers -J
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September 07, 2016, 07:26:11 AM
 #41

reserve Indian translation (hindi)

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September 07, 2016, 07:50:34 AM
 #42

interesting project, watching

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rajeshgarnaik
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September 08, 2016, 05:39:34 AM
 #43

(hindi) Indian translation
https://bitcointalk.org/index.php?topic=1611046.new#new

thanks

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September 08, 2016, 10:03:55 AM
 #44


Did the dev let you translate the introduction of whitepaper? Else your work will not be consider.

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September 08, 2016, 10:20:05 AM
 #45

Sounds like an great project. Ambitious but has a purpose unlike 99% altcoins. Unfortunately looks like small investors won't be able to contribute.

And what's with all the beggjng for bounties. PM the OP, stop crapping the thread.
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September 08, 2016, 11:16:35 AM
 #46

Is this info "CROWD SALE ON OCTOBER 17TH" still valid or the route with private investors is going be taken ?


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DECENT
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[D]ecentralized application
[E]liminated third parties
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[E]ncrypted & secure
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jaekwon
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September 08, 2016, 06:00:35 PM
 #47

Did the dev give a green light on translations? I dont think he did yet...

No, and please be patient about translations.  It's going to take time to figure out how to vet everything.  Stop posting about translations here, just follow the instructions on this thread and forget about it.  We will email you back with a decision, but it will take time.

Announcement #2

If you are a non-US citizen and non-US resident, or an accredited US citizen who is interested in buying atoms or running a validator, PM me or email us at jae@cosmos.network.

* Who are you?
* Are you a US citizen or do you live in the US?
* How much do you want to buy?
* Are you interested in running a validator?
* Why do you think you'd run a successful validator?
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September 09, 2016, 06:56:05 PM
 #48

Is the CROWD SALE ON OCTOBER 17TH still valid ?
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September 10, 2016, 02:23:24 AM
 #49

Hello,

your ICO has been added on https://www.ico-list.com/ !
Our database is now listing over 40+ ICO & Crowdsales !

  • User-friendly & clean interface
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  • Tools to manage your ICOs

Thanks for contacting me if some details are wrong.

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September 10, 2016, 03:06:10 PM
 #50

Dev is having so much work in this project. It is not your everyday alt coin

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September 11, 2016, 08:05:34 AM
 #51

is this kinda of Supernet made by JL777? Grin

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September 11, 2016, 09:00:48 AM
 #52

is cosmos a decentralized network project like maidsafe?   

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September 12, 2016, 04:35:37 AM
 #53

is this kinda of Supernet made by JL777? Grin

There are some similarities in spirit, and maybe some parts of the multigateway system are similar to the pegging system, but huge differences as well.  I don't see an analog to IBC in supernet.
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September 12, 2016, 03:14:32 PM
 #54

is cosmos a decentralized network project like maidsafe?   

It is a decentralized network project, and also a blockchain project, but it's nothing like maidsafe.
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September 12, 2016, 03:26:16 PM
 #55

is cosmos a decentralized network project like maidsafe?   

cosmos is acting like it as network of blockchain.  maidsafe is pretending to be distributed internet.

little tricky words. but very easy to understand.

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September 14, 2016, 01:06:33 AM
 #56

is this kinda of Supernet made by JL777? Grin
JL777 very famous Grin

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September 14, 2016, 01:44:35 AM
 #57

Im guessing the project is as big or more than Ethereum and Nxt combined . All major crytocurrencies are going to app application platform. What else would they come up for it to be competitive? But I am excited with all those projects that are coming up.

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September 14, 2016, 12:53:11 PM
 #58

Cosmos? Roll Eyes




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BITCOINTALK THREAD


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September 16, 2016, 03:04:54 AM
 #59

is cosmos a decentralized network project like maidsafe?   

cosmos is acting like it as network of blockchain.  maidsafe is pretending to be distributed internet.

little tricky words. but very easy to understand.

Thanks.   Cheesy   Maybe they are both hype project. We need to do more research before we put money.   Cheesy

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September 16, 2016, 11:51:54 AM
 #60

is cosmos a decentralized network project like maidsafe?   

cosmos is acting like it as network of blockchain.  maidsafe is pretending to be distributed internet.

little tricky words. but very easy to understand.

Thanks.   Cheesy   Maybe they are both hype project. We need to do more research before we put money.   Cheesy

can't you see the truth? this project is actually organized by nautilus "team". lol

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September 18, 2016, 12:23:23 PM
 #61

Also, The crowdfund will be uncapped for the first 24 hours, but then capped at $9M equivalent of bitcoins after the first 24 hours. After 24 hours since the beginning of the crowdfund, when the total amount raised exceeds $9M given the price of bitcoin at 9am PDT the morning of, or after 42 days, whichever comes first, the crowdfund will immediately stop.

So the Cap amount is $9m + First 24 Hours funds collected? What is the bonus for investing in the initial 24 hours?

The only way to make sure you get in is by bidding in the initial 24 hours.

BTW, here's an announcement related to the crowdfund.

Announcement

We are currently considering an alternative private funding plan where we start funding with non-US/accredited investors.
If you qualify and are interested in bidding over $50K, please PM me or email us, prefund@cosmos.network.
Alternatively, if you have good-standing public reputation and have excellent op-sec and sys-admin skills, and are interested in running Cosmos hub validators, please PM me.
The ideal candidate meets both requirements, and is a legal entity.

Hi I did email you regarding interested being a hub validator but no reply. Are you still in process?

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T O K E N  -  A S  -  A  -  S E R V I C E

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September 25, 2016, 05:28:37 PM
 #62

I want reserve English, French, German, Spanish, Mexican and Esperanto.  I cut-n-paste into Google Translate for high quality translations! ME BEG Bounty PELASE!!!
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September 25, 2016, 07:49:24 PM
 #63

Could you please explain the attraction of private money vs ICO?  Are you looking for consult in exchange for equity?

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September 26, 2016, 04:02:28 AM
 #64

I want reserve English, French, German, Spanish, Mexican and Esperanto.  I cut-n-paste into Google Translate for high quality translations! ME BEG Bounty PELASE!!!

lol this made my day. All very first pages are all about bounty.


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Smart Contracts
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sulec70
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September 26, 2016, 05:19:15 AM
 #65

Can you introduce anyone who is a team of your current project

ETH : 0xA94e4DA7AC2b050ec8b7d7ba09F8A4EDEe3B9028
Bannedseller
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September 26, 2016, 04:29:20 PM
 #66

Can you introduce anyone who is a team of your current project

Here some info
You can have check their web Site
http://tendermint.com/about/
many presentations:
https://www.youtube.com/watch?v=EfFVh1DIKds
https://www.youtube.com/watch?v=lYX7VIVz578
https://www.youtube.com/watch?v=9krAQzN6tbc
and much more ...
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September 27, 2016, 03:12:11 AM
 #67

Does Cosmos allow apps to deploy on BTC, ETH, WAVES, etc.? Doesn't this allow all of these guys to be winners?

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September 27, 2016, 03:20:18 AM
 #68

I heard about you. So cosmos is basically a DEX or decentralized shapeshift? Seems like a novel idea, but who is doing the front end/UX for your group? Also, is it DPoS and are you still part of BlockchainOS?




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September 27, 2016, 04:03:39 AM
 #69

When do you plan to launch the ICO? How much will you think you need to collect to drive the project? What is the ETA for the launch after the ICO?

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September 27, 2016, 11:01:47 AM
 #70

Wow what a rip off of Blocknet. Even using the same tag line:  https://bitcointalk.org/index.php?topic=829576.0

  "the internet of blockchains".  

They even quote one of the Blocknet devs directly: "An ideal solution is one that allows multiple parallel blockchains to interoperate while retaining their security properties"   Shameless.
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September 27, 2016, 11:06:15 AM
 #71

Is there a bounty for posting in this thread?
any bounty for translation? i can translate into zulu Grin




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September 27, 2016, 11:09:53 AM
 #72

When do you plan to launch the ICO? How much will you think you need to collect to drive the project? What is the ETA for the launch after the ICO?
thats a good question hope the dev will give some light about this concern so we can start to invest.

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September 27, 2016, 11:32:49 AM
 #73

Wow what a rip off of Blocknet. Even using the same tag line:  https://bitcointalk.org/index.php?topic=829576.0

  "the internet of blockchains".  

They even quote one of the Blocknet devs directly: "An ideal solution is one that allows multiple parallel blockchains to interoperate while retaining their security properties"   Shameless.

They use the above quote in their cosmos whitepaper.

The blocknet dev actually said this.  They are using someone else's words because they cannot bother writing their own. Very dishonest!
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September 27, 2016, 11:40:05 AM
 #74

Guys, sorry, but its absolutely indecent of you to just copy another ones work and writings without referring to them. I will not invest in projects that are run by sneaky copycats. Furthermore, just to sum your whitepaper up for all the noobs here: Cosmos tech is essentially inferior to Blocknet. Everyone, please, do your research.
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September 27, 2016, 11:45:58 AM
 #75

Guys, sorry, but its absolutely indecent of you to just copy another ones work and writings without referring to them. I will not invest in projects that are run by sneaky copycats. Furthermore, just to sum your whitepaper up for all the noobs here: Cosmos tech is essentially inferior to Blocknet. Everyone, please, do your research.


I know right?  The blocknet devs have spent over 2 years innovating this tech and came through some terrible fud and then some selfish fools come along and try to take the credit for their own.  Intellectually dishonest.
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September 27, 2016, 12:13:52 PM
 #76

The concept is great bu they need to shed more light on the project, tedermint.com seems good and I read they won award at the just concluded Devcon in China.

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September 27, 2016, 12:16:39 PM
 #77

PLAGIARISM IS USUALLY AN INDICATOR OF A PROJECT BEING A SCAM.
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September 27, 2016, 12:56:29 PM
 #78

PLAGIARISM IS USUALLY AN INDICATOR OF A PROJECT BEING A SCAM.
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September 27, 2016, 04:22:11 PM
 #79

PLAGIARISM IS USUALLY AN INDICATOR OF A PROJECT BEING A SCAM.

Not so quick. Devs are very legit. I don't beleive it's a SCAM

http://tendermint.com/about/
many presentations:
https://www.youtube.com/watch?v=EfFVh1DIKds
https://www.youtube.com/watch?v=lYX7VIVz578
https://www.youtube.com/watch?v=9krAQzN6tbc
and much more ...

PS: I'm not involve in any way on this project.


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  æ t e r n i t y
  The Oracle Machine
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✅ Decentralized Oracle
✅ Turing-Complete
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✅ Infinitly Scalable
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truxton
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September 27, 2016, 08:13:28 PM
 #80

Then they need to explain why they have stolen verbatim the work / words of the blocknet devs.
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September 28, 2016, 10:17:36 PM
 #81

Then they need to explain why they have stolen verbatim the work / words of the blocknet devs.

I believe they will soon  Wink


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  æ t e r n i t y
  The Oracle Machine
          ██
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✅ Unchained Smart Contracts
✅ Decentralized Oracle
✅ Turing-Complete
✅ State-Channels
✅ Infinitly Scalable
     ██
 ▄██ ██ ██▄
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September 28, 2016, 10:34:01 PM
 #82

Then they need to explain why they have stolen verbatim the work / words of the blocknet devs.

I believe they will soon  Wink
still waiting for more information, i just bookmark this thread




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September 30, 2016, 05:30:36 AM
 #83

Is it true Donald Trump backs this coin?
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September 30, 2016, 07:37:00 AM
 #84

This project looks really nice. One question for you dev. How do you think about the future of Naut/Par?

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September 30, 2016, 07:42:13 AM
 #85

PLAGIARISM IS USUALLY AN INDICATOR OF A PROJECT BEING A SCAM.

Not so quick. Devs are very legit. I don't beleive it's a SCAM

http://tendermint.com/about/
many presentations:
https://www.youtube.com/watch?v=EfFVh1DIKds
https://www.youtube.com/watch?v=lYX7VIVz578
https://www.youtube.com/watch?v=9krAQzN6tbc
and much more ...

PS: I'm not involve in any way on this project.

We need their info to know more about the team, anonymity of this project is not good. I don't believe them
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September 30, 2016, 09:07:46 AM
 #86

PLAGIARISM IS USUALLY AN INDICATOR OF A PROJECT BEING A SCAM.

Not so quick. Devs are very legit. I don't beleive it's a SCAM

http://tendermint.com/about/
many presentations:
https://www.youtube.com/watch?v=EfFVh1DIKds
https://www.youtube.com/watch?v=lYX7VIVz578
https://www.youtube.com/watch?v=9krAQzN6tbc
and much more ...

PS: I'm not involve in any way on this project.

We need their info to know more about the team, anonymity of this project is not good. I don't believe them

True. its much safer to see how real the devs are. there are more projects better than this so they might as well try to publish themselves to gain trust from investors, else they may never get much funds for the project. 

To whom did they allegedly copy this project?

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September 30, 2016, 01:41:15 PM
 #87

The blocknet: http://blocknet.co/
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September 30, 2016, 02:13:12 PM
 #88

Interesting project, keeping an eye on this
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October 02, 2016, 10:37:15 PM
 #89

Any new development here ?  It is kinda silent from a potential crypto game-changer.

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October 03, 2016, 01:30:06 PM
 #90

I think their silence speaks volumes with regards to not answering why they ripped of other devs without credit.
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October 05, 2016, 12:01:40 AM
 #91

Then they need to explain why they have stolen verbatim the work / words of the blocknet devs.

We didn't steal or copy, though the tagline is coincidentally the same.  We arrived at that tagline because that's literally what we're creating -- and I like to call things for what they are.

In Cosmos, blockchains are light-clients of each other, where the light-client-SPV datastructure is included in another blockchain as a transaction, thereby allowing two blockchains to establish a virtual communication channel between each other.  It's a network of sidechains.

http://cosmos.network/whitepaper#inter-blockchain-communication-ibc

Looking into it, the best thing that I could find on what makes BlockNet an "internet of blockchains" is their XBridge, which I don't see much activity on.  It seems that BlockNet's "internet of blockchains" is about an intelligent wallet crawling blockchain nodes to coordinate cross-chain transactions.

https://bitcointalk.org/index.php?topic=829576.msg16240226#msg16240226
https://github.com/atcsecure/xbridge-old/blob/master/p2p.scm

Is there anything more to the "internet"-ness of BlockNet than what is above?  Because from what I can see, the way Cosmos is an "internet of blockchains" is completely different than how BlockNet does it.  Cosmos is a network of sidechains.

We're happy to change the tagline if BlockNet asks us to, but it's unfair to say that we copied anyone else's work.  Our work is original.  Our specification is unique, and provides uniquely competitive properties.

Also, sorry, been busy with the prefunding plan.  We'll post another update soon.
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October 05, 2016, 12:08:21 AM
 #92

I heard about you. So cosmos is basically a DEX or decentralized shapeshift? Seems like a novel idea, but who is doing the front end/UX for your group? Also, is it DPoS and are you still part of BlockchainOS?

We're not "part" of BlockchainOS.  We advise them on blockchain architecture.
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October 05, 2016, 12:12:18 AM
 #93

Wow what a rip off of Blocknet. Even using the same tag line:  https://bitcointalk.org/index.php?topic=829576.0

  "the internet of blockchains".  

They even quote one of the Blocknet devs directly: "An ideal solution is one that allows multiple parallel blockchains to interoperate while retaining their security properties"   Shameless.

Those are my words.  You'll have to post the Blocknet dev's words so we can compare the meaning behind them.  But if we're speaking of ideals, and these ideals are true, then it's not surprising that two different people describe the same thing.

By "retaining their security properties", I mean PoS allows you to do this.  Not so with a network of PoW chains, where the miners can be bribed on a whim.  Our proposed solution to that problem is BFT PoS, a constitution, and a governance system to amend the constitution.
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October 05, 2016, 12:13:33 AM
 #94

Guys, sorry, but its absolutely indecent of you to just copy another ones work and writings without referring to them. I will not invest in projects that are run by sneaky copycats. Furthermore, just to sum your whitepaper up for all the noobs here: Cosmos tech is essentially inferior to Blocknet. Everyone, please, do your research.

You'll have to justify that.  Yes, everyone, please do your research Smiley
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October 05, 2016, 07:40:30 AM
 #95

Wow what a rip off of Blocknet. Even using the same tag line:  https://bitcointalk.org/index.php?topic=829576.0

  "the internet of blockchains".  

They even quote one of the Blocknet devs directly: "An ideal solution is one that allows multiple parallel blockchains to interoperate while retaining their security properties"   Shameless.

Those are my words.  You'll have to post the Blocknet dev's words so we can compare the meaning behind them.  But if we're speaking of ideals, and these ideals are true, then it's not surprising that two different people describe the same thing.

By "retaining their security properties", I mean PoS allows you to do this.  Not so with a network of PoW chains, where the miners can be bribed on a whim.  Our proposed solution to that problem is BFT PoS, a constitution, and a governance system to amend the constitution.

Hey hey

Thanks for the response. I tweeted at you guys several times about this, to no avail. Glad to see you're around.

To be clear (to all reading), I'm not accusing you of plagiarism or of copying our code. I'm just engaging you in conversation.

Having read your whitepaper, there's no question of your copying the Blocknet's technical approach. You're using DPoS and sidechains/sharding; we're using an inter-chain network overlay, a blockchain router, p2p messaging and atomic protocols.

However, when it comes to how you represent/market yourselves, there's a striking similarity in both concept and wording.
Consider, for example, the third paragraph of your whitepaper: this echoes, almost verbatim, the following:
- a sentence in the second paragraph of our last blog post
- a sentence in our last radio interview
- many other instances, over the course of at least the past year, in which we've described our goal as preserving the security properties of blockchains in inter-chain scenarios.

The other, more obvious similarity (note I'm intentionally not using the accusatory word "copying"), is "internet of blockchains." That's effectively our slogan or descriptive title. It's been that for the past two years. If there are two "reserved terms" I'd like not to be used for other projects, they would be
- internet of blockchains
- blockchain router


I can't - and I'm not trying to - stop you from using "internet of blockchains" or phrases about "preserving security properties."
I'm not accusing you of plagiarism either.
But I request, as a matter of prior art, that you both (a) find equivalent but different ways of describing your project, and (b) that consider acknowledging - where relevant - that we precede you in pursuing the vision of inter-chain interoperability and were the first in carving out the concepts that you've arrived at.

Cheers

Arlyn

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October 05, 2016, 06:46:45 PM
 #96

Wow what a rip off of Blocknet. Even using the same tag line:  https://bitcointalk.org/index.php?topic=829576.0

  "the internet of blockchains".  

They even quote one of the Blocknet devs directly: "An ideal solution is one that allows multiple parallel blockchains to interoperate while retaining their security properties"   Shameless.

Those are my words.  You'll have to post the Blocknet dev's words so we can compare the meaning behind them.  But if we're speaking of ideals, and these ideals are true, then it's not surprising that two different people describe the same thing.

By "retaining their security properties", I mean PoS allows you to do this.  Not so with a network of PoW chains, where the miners can be bribed on a whim.  Our proposed solution to that problem is BFT PoS, a constitution, and a governance system to amend the constitution.

Hey hey

Thanks for the response. I tweeted at you guys several times about this, to no avail. Glad to see you're around.

To be clear (to all reading), I'm not accusing you of plagiarism or of copying our code. I'm just engaging you in conversation.

Having read your whitepaper, there's no question of your copying the Blocknet's technical approach. You're using DPoS and sidechains/sharding; we're using an inter-chain network overlay, a blockchain router, p2p messaging and atomic protocols.

However, when it comes to how you represent/market yourselves, there's a striking similarity in both concept and wording.
Consider, for example, the third paragraph of your whitepaper: this echoes, almost verbatim, the following:
- a sentence in the second paragraph of our last blog post
- a sentence in our last radio interview
- many other instances, over the course of at least the past year, in which we've described our goal as preserving the security properties of blockchains in inter-chain scenarios.

The other, more obvious similarity (note I'm intentionally not using the accusatory word "copying"), is "internet of blockchains." That's effectively our slogan or descriptive title. It's been that for the past two years. If there are two "reserved terms" I'd like not to be used for other projects, they would be
- internet of blockchains
- blockchain router


I can't - and I'm not trying to - stop you from using "internet of blockchains" or phrases about "preserving security properties."
I'm not accusing you of plagiarism either.
But I request, as a matter of prior art, that you both (a) find equivalent but different ways of describing your project, and (b) that consider acknowledging - where relevant - that we precede you in pursuing the vision of inter-chain interoperability and were the first in carving out the concepts that you've arrived at.

Cheers

Arlyn

I can see how the phrase "internet of blockchains" MIGHT, just MIGHT be a coincidence.  But the other examples of text from the white papers posted above are just stealing. There is zero chance that is coincidence. Its plagiarism.  Its what students do when they need to pad out an essay.
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October 05, 2016, 08:53:31 PM
 #97

Having read your whitepaper, there's no question of your copying the Blocknet's technical approach. You're using DPoS and sidechains/sharding; we're using an inter-chain network overlay, a blockchain router, p2p messaging and atomic protocols.

However, when it comes to how you represent/market yourselves, there's a striking similarity in both concept and wording.
Consider, for example, the third paragraph of your whitepaper: this echoes, almost verbatim, the following:
- a sentence in the second paragraph of our last blog post
- a sentence in our last radio interview
- many other instances, over the course of at least the past year, in which we've described our goal as preserving the security properties of
blockchains in inter-chain scenarios.

Can you please paste the sentence from the second paragraph of your last blog post that you find strikingly similar?  I just want to make sure we're talking about the same parts.

I can't - and I'm not trying to - stop you from using "internet of blockchains" or phrases about "preserving security properties."
I'm not accusing you of plagiarism either.
But I request, as a matter of prior art, that you both (a) find equivalent but different ways of describing your project, and (b) that consider acknowledging - where relevant - that we precede you in pursuing the vision of inter-chain interoperability and were the first in carving out the concepts that you've arrived at.

I have no qualms changing the phrase.  "Network of blockchains"?  We'll take that then Smiley
I didn't pursue any vision of blockchains until early 2014.  Well, even before then, if you count the fact that since 2013 I had developed exchange software for a crypto-crypto exchange to compete with Cryptsy.  I abandoned that (https://github.com/jaekwon/ftnox-backend) and started working on Tendermint because it is what enables secure PoS.  And we have to get away from PoW in order for the security of many chains to be independent of each other.

http://tendermint.com/blog/security-of-cryptocurrency-protocols/

Looking at BlockNet's vision, it seems like we're fully aligned.  We're not even competing, we're both developing toward a shared system from different angles.  To call us plagiarizing is a stretch... we've created and proposed solutions to longstanding problems in the crypto space.

Here, I've changed our tagline.  We'll update them on our website too.  I acknowledge that jl777 has had great ideas, inevitable ideas.  I'd like for us to take part in the journey.  The internet of blockchains will not be centralized, or hierarchical.  Like the WorldWideWeb that preceded it, it is connected in every possible way.
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October 06, 2016, 06:51:02 PM
 #98

Russian translation - https://bitcointalk.org/index.php?topic=1638305.new#new

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October 06, 2016, 09:31:35 PM
 #99

Network of blockchains tagline seems to be catchy and legit. Nice to see you around . No funfare here but a very huge potential for success. Still waiting for translation assignment. Already done the initial task.

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T O K E N  -  A S  -  A  -  S E R V I C E

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October 06, 2016, 10:05:57 PM
 #100

Network of blockchains tagline seems to be catchy and legit. Nice to see you around . No funfare here but a very huge potential for success. Still waiting for translation assignment. Already done the initial task.

Thanks.

Sorry about how long its taking about the translation.  We will follow through, but it will take some time to settle all the business.
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October 09, 2016, 10:22:31 AM
 #101

Having read your whitepaper, there's no question of your copying the Blocknet's technical approach. You're using DPoS and sidechains/sharding; we're using an inter-chain network overlay, a blockchain router, p2p messaging and atomic protocols.

However, when it comes to how you represent/market yourselves, there's a striking similarity in both concept and wording.
Consider, for example, the third paragraph of your whitepaper: this echoes, almost verbatim, the following:
- a sentence in the second paragraph of our last blog post
- a sentence in our last radio interview
- many other instances, over the course of at least the past year, in which we've described our goal as preserving the security properties of
blockchains in inter-chain scenarios.

Can you please paste the sentence from the second paragraph of your last blog post that you find strikingly similar?  I just want to make sure we're talking about the same parts.

Sure: "The Blocknet is an inter-blockchain application platform, devoted to creating solutions to inter-chain interoperability without sacrificing the security properties of blockchains."

Quote
I can't - and I'm not trying to - stop you from using "internet of blockchains" or phrases about "preserving security properties."
I'm not accusing you of plagiarism either.
But I request, as a matter of prior art, that you both (a) find equivalent but different ways of describing your project, and (b) that consider acknowledging - where relevant - that we precede you in pursuing the vision of inter-chain interoperability and were the first in carving out the concepts that you've arrived at.

I have no qualms changing the phrase.  "Network of blockchains"?  We'll take that then Smiley

Nice one. Sounds good :-)

Quote
I didn't pursue any vision of blockchains until early 2014.  Well, even before then, if you count the fact that since 2013 I had developed exchange software for a crypto-crypto exchange to compete with Cryptsy.  I abandoned that (https://github.com/jaekwon/ftnox-backend) and started working on Tendermint because it is what enables secure PoS.  And we have to get away from PoW in order for the security of many chains to be independent of each other.

http://tendermint.com/blog/security-of-cryptocurrency-protocols/

Looking at BlockNet's vision, it seems like we're fully aligned.  We're not even competing, we're both developing toward a shared system from different angles.  To call us plagiarizing is a stretch... we've created and proposed solutions to longstanding problems in the crypto space.

Absolutely. I'm explicitly not accusing you of plagiarism.

Quote
Here, I've changed our tagline.  We'll update them on our website too.  I acknowledge that jl777 has had great ideas, inevitable ideas.  I'd like for us to take part in the journey.  The internet of blockchains will not be centralized, or hierarchical.  Like the WorldWideWeb that preceded it, it is connected in every possible way.

Onward to a decentralised internet! For the record though, jl777 has nothing to do with the Blocknet. He's behind that SuperNET thing, right?
Anyway, yes, it's great that there are a few projects working toward "web 3.0".

All the best with the project,

Arlyn

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October 09, 2016, 11:14:57 PM
 #102

Sure: "The Blocknet is an inter-blockchain application platform, devoted to creating solutions to inter-chain interoperability without sacrificing the security properties of blockchains."

Nice, well, I think the obvious resolution to this is to cite.  I need to be clear on something though... what do they mean "sacrificing the security properties of blockchains"?  Why would chain interoperability sacrifice the security properties of blockchains?  Are they talking about, like, how metacoins sacrifice the security properties of the underlying blockchain?

Also, interesting that it's called an "application platform".  I don't think we're building the application platform, but rather the blockchain operating system itself, aka the "protocol".

Onward to a decentralised internet! For the record though, jl777 has nothing to do with the Blocknet. He's behind that SuperNET thing, right?
Anyway, yes, it's great that there are a few projects working toward "web 3.0".

Oops, yes, he's behind the SuperNET thing.  Who's behind BlockNet?  You?

All the best with the project,

Danke, to you as well.
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October 13, 2016, 03:17:12 PM
 #103

actually ,if post information of your team,maybe higher authoritative

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October 13, 2016, 03:20:36 PM
 #104

Can you explain this project in simpler terms? What are you guys trying to do and what value will come out of it? How could the world not go without this project?

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October 14, 2016, 07:45:04 AM
 #105

Can you explain this project in simpler terms? What are you guys trying to do and what value will come out of it? How could the world not go without this project?

thats why we need more information

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October 14, 2016, 09:38:08 AM
 #106

Can you explain this project in simpler terms? What are you guys trying to do and what value will come out of it? How could the world not go without this project?

thats why we need more information

some samples in real life usability 1 or 2

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October 14, 2016, 11:52:43 AM
 #107

Hi sir, i had some questiona about translation.

Pm sent.

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October 14, 2016, 01:01:04 PM
 #108

When will we see a roadmap? What is your time to revenue?

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October 15, 2016, 06:44:30 PM
 #109

                                   COSMOS: We delayed our crowdfund until Q1 2017
  The going date is now Feb 15th, 2017. That will give us time to finish the production version of Tendermint and an alpha version of the hub.

   Cheers, Jae

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October 24, 2016, 09:07:32 AM
 #110

any bounty for newsletter sub dev???

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November 28, 2016, 12:46:31 PM
 #111

It's great.


Is there any symbol or icon of cosmos yet ?


From wan.
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November 29, 2016, 02:08:52 PM
 #112

It it great project.

I think the devs need promotion and marketing specialist.

to say the potential of this amazing project to generals.


Wow.


From wan.
redhero
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🌟 SONM ICO: 25/05/17 🌟


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December 01, 2016, 12:40:33 PM
 #113

everyone need 50,000USD to attent pre-sale, it is too much

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jaekwon
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December 01, 2016, 11:44:47 PM
 #114

Hi everyone, a couple of announcements:

We will soon reach out to translators.  **PLEASE DO NOT REPLY ON THIS THREAD!  Just PM me.  Also include your price, if you want.**.  If you want to maintain translations subs, please PM me as well.  Thank you for the support and interest!

Also, check out the video: https://www.youtube.com/watch?v=b-ytzLX-2EE

And our official Reddit: http://reddit.com/r/thecosmos

We're getting more interest for Cosmos integration every week.  More announcements coming, please stay tuned!

- Jae

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December 01, 2016, 11:46:01 PM
 #115

everyone need 50,000USD to attent pre-sale, it is too much

Sorry about that, it's just too much work to handle pre-fundraiser agreements manually.  We'll open up the fundraiser to everyone though.
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December 01, 2016, 11:47:58 PM
 #116

actually ,if post information of your team,maybe higher authoritative

Jae (me) and Ethan from the Tendermint team, are two directors involved in the Cosmos Network Foundation.  There are others involved with Cosmos as well.

http://tendermint.com/about
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December 01, 2016, 11:50:29 PM
 #117

New blog post, BFT: The Most Secure Proof-of-Stake
From https://cosmos.network/blog/bft-the-most-secure-proof-of-stake

Bitcoin brought the world’s attention to the blockchain. But alas, the Bitcoin version of blockchain isn’t sufficient for the world’s blockchain needs. That is because Bitcoin’s proof of work (PoW) consensus requires an enormous amounts of energy. In addition, transactions are painstakingly slow, taking an hour or longer to commit. And because PoW miners have little incentive to be loyal to one chain or other, upgrades are difficult to coordinate.

We need an approach to manage blockchains securely that does not impose a huge energy cost on our planet. That approach is Byzantine fault-tolerance (BFT)-based proof-of-stake (PoS). We call it BFT-PoS.

Before I delve into the merits of BFT-PoS, let me first address the concept of Byzantine faults without going into confusing detail about Lamport’s General and his armies.

In a distributed system, where data is replicated across hundreds or thousands of nodes, there needs to be some type of fault-tolerance or consensus algorithm, for the simple fact that computers break down or go offline from time to time. So if a portion of those nodes fail, the system as a whole still needs to reach a consensus.

Standard fault-tolerant consensus algorithms like Raft and Paxos assume that when a node fails, it simply stops working and doesn’t send back a reply. Google, Facebook, and some existing database products already use this family of consensus algorithms within their firewalls to ensure that services remain available despite faulty computers.

But these algorithms aren’t suitable for public blockchains, because there is no firewall in a public blockchain. Anyone with mining power (in PoW) or staking tokens (in PoS) can participate, or even try to sabotage the network. To reach consensus on a public blockchain, we need Byzantine fault-tolerance. In a Byzantine fault, the faulty node can behave in a completely arbitrary manner. Nodes can even collude to try and maximize the damage they cause.

So essentially, the purpose of a BFT consensus algorithm is to establish trust between otherwise unrelated parties over an untrusted network like the Internet.

BFT is nothing new. The concept was first introduced in an academic paper by Lamport, Shostak, and Pease in 1982. But Lamport et al only demonstrated the theoretical feasibility of the algorithm in a synchronous environment, where all the messages always arrive on time.

But in the real world, you can’t really trust the Internet to deliver anything on time. So in 1988, Dwork, Lynch, and Stockmeyer (DLS) proposed an algorithm that works in mostly asynchronous environments. Later in 1999, Miguel Castro and Barbara Liskov proposed a practical solution for continuous BFT consensus that was, and still is today, the state-of-the-art in BFT algorithms.

But for a long time, the mainstream press ignored these seminal works. Nobody understood the importance of BFT outside academia and major institutions like IBM and DARPA, until 2009 when Bitcoin came along. Bitcoin was the first open decentralized application to provide BFT consensus on a global currency ledger, but using a completely novel solution to the Byzantine general’s problem: PoW.

In PoW, miners compete, based on who has the most processing power, to validate transactions. And for their efforts they are rewarded with transaction fees and newly minted bitcoins. This is how Bitcoin creates new currency. Bitcoin miners around the globe compete in a lottery-like system for these newly issued bitcoins, and the efficient market makes it so that the cost of the energy used by the global mining network is on the order of the block reward (plus transaction fees). Today, that turns out to be around $1M worth of electricity per day. In addition, Bitcoin mining is being commoditized by large data centers in places of the world where electricity is more affordable, making it difficult for laymen to participate.

PoS, on the other hand, does away with the energy dependence of PoW entirely. In PoS, miners are replaced with “validators” who have a stake in the system. Validators don’t have to invest in expensive processing systems but they do have to purchase “staking tokens.” Any normal laptop will suffice to solve the algorithm.

Peercoin, BitShares, Nxt, and others already use some form of PoS, and Ethereum is planning a move to PoS in the near future. Yet, while PoS makes practical sense, many people have rallied against the use of PoS, claiming it is impossible to secure. But that is simply not true. Using BFT, you absolutely can secure PoS. It’s just that we haven’t seen any BFT-PoS public blockchains yet.

While the theory may be difficult to explain or understand, the ultimate results provided by proper BFT algorithms are simple to grasp. Unlike PoW blockchains, BFT-PoS blockchains do not fork (i.e. get double-spend attacked) at all unless ⅓ or more validators coordinate such an attack. And, when 1/3 or more validators do cause a double-spend attack, we can computationally determine which validators were responsible for the attack, destroy their staking tokens and eject them from the network. It’s as if the staking tokens are virtualized PoW miners that blow up when used to attack the system. No other blockchain consensus algorithm, including PoW, can provide the level of collateralization that is possible with BFT-PoS.

BFT-PoS performs extremely well. Today, in global public blockchain with a few hundred validators, you can get transaction finality on the order of 3 seconds, easily – no need to wait for additional block confirmations! The theory has proven to us that these are optimal fault-tolerance thresholds for “instant-finality” blockchains. While more validators does slow down consensus, if Nielsen’s law continues to hold, we’ll even be able to support an exponentially increasing number of validators every year with the same performance.

In addition, BFT-PoS will also increase the security of mobile wallets. Few of the mobile wallets in existence today take full advantage of the security offered by Bitcoin, for the simple fact that nobody is willing to wait an hour for a transaction to clear. Instead, most wallets just assume that the person sending the money isn’t trying to double spend it. And, though we don’t have time to dive into it here, efficient mobile wallet protocols, or “light client SPV” protocols are the key to future blockchain interoperability.

While PoW worked well for Bitcoin, it’s costly, slow, and environmentally unfriendly. The best alternative out there right now is BFT-PoS. It’s an enduring, energy efficient solution that works well in asynchronous environments. And best of all, because BFT was developed by the best and the brightest in the computer science industry, it’s provably secure. You can’t do any better than that.

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December 02, 2016, 01:14:20 AM
 #118

I am looking forward to new information coming out.
Good luck on your development.

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December 02, 2016, 09:23:01 AM
 #119

New blog post, BFT: The Most Secure Proof-of-Stake
From https://cosmos.network/blog/bft-the-most-secure-proof-of-stake

Bitcoin brought the world’s attention to the blockchain. But alas, the Bitcoin version of blockchain isn’t sufficient for the world’s blockchain needs. That is because Bitcoin’s proof of work (PoW) consensus requires an enormous amounts of energy. In addition, transactions are painstakingly slow, taking an hour or longer to commit. And because PoW miners have little incentive to be loyal to one chain or other, upgrades are difficult to coordinate.

We need an approach to manage blockchains securely that does not impose a huge energy cost on our planet. That approach is Byzantine fault-tolerance (BFT)-based proof-of-stake (PoS). We call it BFT-PoS.

Before I delve into the merits of BFT-PoS, let me first address the concept of Byzantine faults without going into confusing detail about Lamport’s General and his armies.

In a distributed system, where data is replicated across hundreds or thousands of nodes, there needs to be some type of fault-tolerance or consensus algorithm, for the simple fact that computers break down or go offline from time to time. So if a portion of those nodes fail, the system as a whole still needs to reach a consensus.

Standard fault-tolerant consensus algorithms like Raft and Paxos assume that when a node fails, it simply stops working and doesn’t send back a reply. Google, Facebook, and some existing database products already use this family of consensus algorithms within their firewalls to ensure that services remain available despite faulty computers.

But these algorithms aren’t suitable for public blockchains, because there is no firewall in a public blockchain. Anyone with mining power (in PoW) or staking tokens (in PoS) can participate, or even try to sabotage the network. To reach consensus on a public blockchain, we need Byzantine fault-tolerance. In a Byzantine fault, the faulty node can behave in a completely arbitrary manner. Nodes can even collude to try and maximize the damage they cause.

So essentially, the purpose of a BFT consensus algorithm is to establish trust between otherwise unrelated parties over an untrusted network like the Internet.

BFT is nothing new. The concept was first introduced in an academic paper by Lamport, Shostak, and Pease in 1982. But Lamport et al only demonstrated the theoretical feasibility of the algorithm in a synchronous environment, where all the messages always arrive on time.

But in the real world, you can’t really trust the Internet to deliver anything on time. So in 1988, Dwork, Lynch, and Stockmeyer (DLS) proposed an algorithm that works in mostly asynchronous environments. Later in 1999, Miguel Castro and Barbara Liskov proposed a practical solution for continuous BFT consensus that was, and still is today, the state-of-the-art in BFT algorithms.

But for a long time, the mainstream press ignored these seminal works. Nobody understood the importance of BFT outside academia and major institutions like IBM and DARPA, until 2009 when Bitcoin came along. Bitcoin was the first open decentralized application to provide BFT consensus on a global currency ledger, but using a completely novel solution to the Byzantine general’s problem: PoW.

In PoW, miners compete, based on who has the most processing power, to validate transactions. And for their efforts they are rewarded with transaction fees and newly minted bitcoins. This is how Bitcoin creates new currency. Bitcoin miners around the globe compete in a lottery-like system for these newly issued bitcoins, and the efficient market makes it so that the cost of the energy used by the global mining network is on the order of the block reward (plus transaction fees). Today, that turns out to be around $1M worth of electricity per day. In addition, Bitcoin mining is being commoditized by large data centers in places of the world where electricity is more affordable, making it difficult for laymen to participate.

PoS, on the other hand, does away with the energy dependence of PoW entirely. In PoS, miners are replaced with “validators” who have a stake in the system. Validators don’t have to invest in expensive processing systems but they do have to purchase “staking tokens.” Any normal laptop will suffice to solve the algorithm.

Peercoin, BitShares, Nxt, and others already use some form of PoS, and Ethereum is planning a move to PoS in the near future. Yet, while PoS makes practical sense, many people have rallied against the use of PoS, claiming it is impossible to secure. But that is simply not true. Using BFT, you absolutely can secure PoS. It’s just that we haven’t seen any BFT-PoS public blockchains yet.

While the theory may be difficult to explain or understand, the ultimate results provided by proper BFT algorithms are simple to grasp. Unlike PoW blockchains, BFT-PoS blockchains do not fork (i.e. get double-spend attacked) at all unless ⅓ or more validators coordinate such an attack. And, when 1/3 or more validators do cause a double-spend attack, we can computationally determine which validators were responsible for the attack, destroy their staking tokens and eject them from the network. It’s as if the staking tokens are virtualized PoW miners that blow up when used to attack the system. No other blockchain consensus algorithm, including PoW, can provide the level of collateralization that is possible with BFT-PoS.

BFT-PoS performs extremely well. Today, in global public blockchain with a few hundred validators, you can get transaction finality on the order of 3 seconds, easily – no need to wait for additional block confirmations! The theory has proven to us that these are optimal fault-tolerance thresholds for “instant-finality” blockchains. While more validators does slow down consensus, if Nielsen’s law continues to hold, we’ll even be able to support an exponentially increasing number of validators every year with the same performance.

In addition, BFT-PoS will also increase the security of mobile wallets. Few of the mobile wallets in existence today take full advantage of the security offered by Bitcoin, for the simple fact that nobody is willing to wait an hour for a transaction to clear. Instead, most wallets just assume that the person sending the money isn’t trying to double spend it. And, though we don’t have time to dive into it here, efficient mobile wallet protocols, or “light client SPV” protocols are the key to future blockchain interoperability.

While PoW worked well for Bitcoin, it’s costly, slow, and environmentally unfriendly. The best alternative out there right now is BFT-PoS. It’s an enduring, energy efficient solution that works well in asynchronous environments. And best of all, because BFT was developed by the best and the brightest in the computer science industry, it’s provably secure. You can’t do any better than that.



The BFT-POS is impressive and dynamic algorithm.

It is worth to look in

from wan.
dbstmddhks
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December 08, 2016, 06:29:42 AM
 #120

The slack of cosmos and tendermint is very busy.

But this thread is some cold now.

If you want to know more about his prjoect, Go to slack.


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December 14, 2016, 10:38:39 AM
 #121

Can I get the strong points of BFT-Pos ?

and what is different points between BFT and PBFT ??


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December 18, 2016, 06:44:07 PM
 #122

 Smiley

Hello Cosmos I would like to contribute in any way, if you wish some translation in Greek Language - I would like to support@!

Next ICO ----?

X.
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December 25, 2016, 07:37:13 PM
 #123

Didnt understand the status here...is this going to an Ico or is it self funded?






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logictense
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December 25, 2016, 07:58:20 PM
 #124

Tell me brats if is it poised to reach the cosmic heights. Id love to see unimaginable galaxies, giant nebulae hidden somewhere along the central axis of universe where no human being has ever had a pleasure to travel to coz of distance barriers.

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December 26, 2016, 04:34:11 AM
 #125

waiting for ICO.

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January 01, 2017, 09:34:34 PM
 #126

waiting for ICO.

Is it going there???

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MorAltsPlease
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January 01, 2017, 09:35:41 PM
 #127

Surely there is a different main thread, can someone post a link?

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to your stations, man the pineapples!!!


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January 02, 2017, 08:31:20 AM
 #128

any new sidechain project really needs to be able to integrate existing chains,
there are a few projects that have tried to create their own closed eco system of chains, but without bringing other players in, seems like a waste of effort Sad

abc coin springs to mind
https://bitcointalk.org/index.php?topic=780422.0



YEEE F*#KIN HA BIG RED TEXT !!!           

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January 05, 2017, 09:03:03 PM
 #129

There is a new post about cosmos network written by devs

https://cosmos.network/blog/purpose-of-cosmos


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January 09, 2017, 06:46:42 PM
 #130

So is this going to be an ICO?

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meeekz
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January 16, 2017, 12:24:08 PM
 #131

Big project. Do you have a fairly detailed roadmap?

meeekz
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January 16, 2017, 12:39:01 PM
 #132

What is your primary Use Case?
Who benefits most from the proposed development of Cosmos?

sulfurtank
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January 16, 2017, 01:11:53 PM
 #133

The slack of cosmos and tendermint is very busy.

But this thread is some cold now.

If you want to know more about his prjoect, Go to slack.


From wan.

This thread is just one of the many garbage threads. I suppose there's nothing new going on in slack channel because it's empty. It's pointless to post this in every altcoin thread. Just join in to their slack and u will see that no one is sitting there.
maknyos
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January 17, 2017, 12:58:54 PM
 #134

follow thread about bounty...

Hhampuz
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January 18, 2017, 09:43:48 PM
 #135

I have not gone through all the pages here, but I heard about Cosmos the other day at a bitcoin conference in Miami. DAG - Digital Assets Group were talking about it, and they are going to back you?

That got me excited, and I think you'll have a promising future. Please let me know if this is the right one or not, would appreciate that.

Will not go through the earlier pages of this thread and will edit this post if I find anything interesting that contradicts my post.

bitcoinsforall
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January 20, 2017, 02:01:41 PM
 #136

any bounty for this project?

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jaekwon
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January 20, 2017, 05:52:29 PM
 #137

We're releasing a preliminary roadmap document soon.  Stay tuned.

Wanted: Someone to manage this community and relay w/ our Slack @ forum.tendermint.com:3000 . You will be responsible for being active on our Slack channel and asking questions, to bridge the knowledge gap.

Pay: $30/hr paid in BTC.  You will be required to document your hours worked and send us an invoice.  Mutual at-will consultation, may be terminated at any time.

To apply, please send me an email @ jae@tendermint.com w/ something interesting about Cosmos, internet of blockchains.
jwiz168
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January 25, 2017, 08:38:12 PM
 #138

Fellow bitcointalk users. Cosmos is going to have its launching soon. I am pretty sure that you are wondering what Cosmos is and how is the dynamics of its operations will affect the decentralized ecosystem. If you have further questions or clarifications, reply to this thread and we will do our best to give you knowledge about cosmos hub, atom, sharding and the other terms that are synonymous to the overall operation of cosmos.

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jwiz168
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January 25, 2017, 08:43:30 PM
 #139

Didnt understand the status here...is this going to an Ico or is it self funded?

No its not self funded. It is going to launch soon and better keep track on this thread. You might be surprise how fast the development will be.

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jwiz168
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January 25, 2017, 08:52:58 PM
 #140

Big project. Do you have a fairly detailed roadmap?


Roadmap is still in the works but the technicality of Cosmos and how it would be used are all available on its whitepaper. Go to this link https://cosmos.network/whitepaper to further understand.

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