In its core essence, Cosmos can be described as an “internet of blockchains” connecting a whole host of decentralized ecosystems, thereby allowing for the seamless exchange of data between different chains without the need for a central supervisory authority.
To elaborate, the platform’s main blockchain is referred to as the ‘Cosmos Hub,’ which is responsible for noting all of the system’s internal activities (such as transactions, gas fee payments, etc.) while peripheral ones — referred to as “Zones” — are connected to the central module and are capable of performing independent actions.
Akin to other blockchains in the market, Cosmos allows developers to devise a host of novel decentralized applications (dApps) atop it. Furthermore, the fact that the Cosmos Hub is interoperable with a wide range of other networks, it is able to provide utilitarian benefits that most of its contemporaries cannot.
Lastly, it should be pointed out that the Cosmos ecosystem is highly scalable and comes replete with a digital framework that supports smart contracts and dApp development.
This article will list the five most useful apps that every Cosmos user should check out. So, without any further ado, let’s jump straight into the heart of the matter.
Five Useful Apps and Services for Cosmos Users and Developers
Fetch.Ai
In its most basic sense, Fetch.AI can be described as an open-source decentralized machine learning platform that uses a blockchain framework, enabling users to access a wide range of AI-derived secure datasets. On a technical note, it should be pointed out that the Fetch.ai network is composed of several software agents, each of whom is represented by an external agency.
To elaborate, each of these autonomous agents deliver an optimized service across various ecosystems, thus allowing network participants to accrue various benefits. Fetch.Ai’s vision is to help devise a digital framework capable of hosting many Internet of Things (IoT) devices that can process data transactions with one another in an automated manner — all while delivering an extremely high level of security. Lastly, from a functional standpoint, the platform’s autonomous agents are capable of performing a wide array of actions, including trade predictions, and crypto value estimations, among other things.
Akash Network
The Akash Network is a Web3-centric project affording developers the ability to deploy a variety of novel dApps without having to perform complex configurations and setups. To put it more simply, the project can be viewed as a decentralized, open-source cloud computing ecosystem that is permissionless in nature. Compared to its centralized counterparts, such as Amazon AWS, Akash is exceptionally well priced, offering similar services at just ⅓ the price.
Osmosis
Osmosis is one of Cosmos’ zones — i.e. blockchains connected to the central hub — making use of a proof-of-stake (PoS) consensus mechanism. From the outside looking in, it is a decentralized exchange (DEX) protocol that harnesses the power of smart contracts to determine the value of various digital assets in real-time, generate liquidity using a peer-to-peer (P2P) module, and facilitate trades between users.
Regen
The Regen Network is a proof of stake (POS) blockchain that allows participants to communicate and transact with one another using its native marketplace that focuses primarily on disseminating ecological data. The project aims to help farmers and cultivators become land stewards by removing the monopoly of various middlemen and intermediaries. Furthermore, the platform serves as an advanced accounting system that can be used for unique purposes, including legal claims verification, validation of user agreements, consensus-related matters, etc.
Persistence
Persistence is best described as a DeFi+ and NFT-focused project featuring an infrastructural design allowing users from the realm of traditional finance to connect with the DeFi market seamlessly. To elaborate, it allows for the tokenization of physical assets (such as real estate, invoices, etc.) as well as their trade against stablecoins.
Furthermore, the project affords users the ability to process loans that have been accumulated into pools and are capable of delivering fixed income streams. To put it another way, the Persistence ecosystem ensures that sizable capital continues to make its way into the digital asset market.
