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- 1 Cosmos to help developers construct interconnected and communicative custom chains.
- 2 Cosmos also has a strategic plan to alleviate technical debt and bolster the modularity of the Cosmos SDK
In a recent development, Cosmos, the blockchain platform enabling developers to construct interconnected and communicative custom chains, has officially revealed its highly anticipated 2024 roadmap.
According to a post published on X on September 25th, this roadmap lays out a strategic vision that prominently centers around several key objectives. These include bolstering modularity, optimizing the developer experience, addressing intricate technical hurdles, and nurturing user adoption.
These strategic initiatives underscore Cosmos developers’ determined commitment to vying for market share in the competitive landscape against Ethereum, an established player in the blockchain ecosystem.
At the core of the Cosmos ecosystem lies crucial elements that power its functionality. One of these pivotal components is Tendermint, which serves as the consensus mechanism for blockchains such as BNB Chain.
Additionally, the Cosmos SDK, a versatile developer toolkit, empowers creators to fashion bespoke blockchains tailored to their specific needs. Another vital facet is the Inter-Blockchain Communication (IBC) protocol, designed to seamlessly connect and facilitate communication among diverse custom Cosmos chains, promoting a high degree of interoperability within the Cosmos network.
These foundational elements collectively form the backbone of the Cosmos ecosystem, fostering a dynamic and interconnected blockchain environment.
As outlined in Cosmos’ ambitious 2024 roadmap, the platform is poised to solidify its competitive stance by attracting developers from competing platforms and diligently tackling the challenge commonly referred to as “technical debt.” In the context of application development, technical debt emerges when extra effort becomes necessary, often due to constraints in resources or evolving code requirements.
In pursuit of its goal to alleviate technical debt and bolster the modularity of the Cosmos SDK, the platform has a strategic plan in place. Cosmos aims to expand its developer community, recognizing that a larger and more diverse pool of contributors can bring valuable insights and solutions to the table.
Although the team acknowledges that the SDK’s modularity has been a theoretical concept, they are keenly aware of the complexities involved in its practical implementation, particularly the necessity for seamless swapping and modifications. By broadening the developer community, Cosmos aims to bridge the gap between theory and real-world application, making the SDK’s modularity a tangible and effective asset within the ecosystem.
In a committed response to these challenges, Cosmos’ persistent endeavors to improve the Cosmos SDK are set to extend throughout the year 2024. The overarching aim remains to elevate the foundational modularity of the SDK, thus augmenting its ability to adapt and flexibly cater to the evolving requirements of developers.
This ongoing commitment underscores Cosmos’ dedication to refining its developer toolkit and fortifying its position in the ever-evolving blockchain landscape.
The quest to achieve these ambitious goals and challenge Ethereum’s dominance in 2024 will undoubtedly be a significant undertaking for Cosmos. Ethereum currently enjoys a prominent position in the smart contract platform arena, boasting a substantial market capitalization and a considerable total value locked (TVL) in decentralized finance (DeFi).
Additionally, Ethereum’s ecosystem has seen notable growth, with a proliferation of layer-2 solutions and various protocols and blockchains integrating with Ethereum to leverage its innovative capabilities.
Cosmos’ success in competing with Ethereum will depend on its ability to execute its roadmap effectively and attract developers and users to its ecosystem in the face of formidable competition. The outcome remains to be seen and will undoubtedly be closely watched by the blockchain community.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
