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Osmosis

Polymer

• Cosmos is an interoperable blockchain platform that allows different blockchains to communicate with each other.
• Cosmos uses a hub-and-spoke architecture, where the Cosmos Hub acts as a main hub for communication between different blockchains.
• Blockchains that want to connect to the Cosmos Hub must first become Zones. Zones are independent blockchains that use the Cosmos SDK and can communicate with each other through the Cosmos Hub.
• IBC: The Inter-Blockchain Communication protocol that allows different blockchains to communicate with each other, that is interoperability between Zones
• Cosmos SDK: A software development kit that makes it easy to build blockchains on the Cosmos platform.
• ATOM - token of cosmos, governance token of cosmos, can be staked to earn staking rewards. Unlike ETH projects have their own token,. Eg Osmosis has Osmo coin
• Tendermint - consensus algorithm used by Cosmos, it is a Byzantine Fault Tolerance (BFT) algorithm that ensures that all nodes in the network agree on the state of the blockchain.
• Interchain Security for an opt-in model of Shared Security
• Application Blockchain Interface (ABCI) - socket protocol connects the Tendermint BFT engine to the application.
• CosmWasm for deploying smart contracts
• Interchain Foundation (ICF) main cosmos steward
• Co-founded by software developers Jae Kwon and Ethan Buchman

High-level on how it works

• Any chain on Cosmos should be able to secure itself with a native token and bootstrap a diverse validator set. But this creates contagion risks with issues in one chain spilling to others.
• Contagion risk - Any chain that decides to be connected via IBC is inherently trusting the security assumptions of each new chain it connects to. If a chain is corrupted, then the synthetic representations of the native assets are worth nothing on the destination chain. For example, if the Chihuahua chain is corrupted, then the Chihuahua tokens on Osmosis are worth nothing.