A new and revised version of the white paper of the Cosmos Hub was published on the 29th of this month. At present, the community is preparing to cast voting over the respective document. As per the project, the apprehensions dealing with the Cosmos’ (ATOM) issuance model were handled in the latest revision, along with the other problems.
Voting for Cosmos Hub Gets Delayed following White Paper’s Revision
The initial version of the paper was issued in the previous month, proposing the establishment of a redesigned Hub that would be devoted to fortifying the security as well as the interoperability, in addition to the chief modifications to the native token. It was kept in view that the latest issuance model will target making a good balance between the advancement of the ecosystem as well as the interchain adoption, as per the white paper.
Along with the provision of these services, the white paper also mentioned that the ecosystem still preserved the security afforded on the behalf of the previous regime. The members of the community highlighted the apprehensions related to the latest issuance model that has been proposed on the behalf of the strategy chief at the Cosmos Hub – Sam Hart.
On proposing it, it was asserted that minting a huge number of ATOM tokens would pave the way toward decreased inflation levels. The phase of transition would witness the issuance of 10,000,000 ATOM tokens in the initial month. This would reduce over time till reaching a stable state after a period of up to thirty-six months. On the other hand, according to the updated version, the proposal takes into account the minting of up to 4,000,000 ATOM tokens.
Cosmos to Become an Infrastructure Services Provider and ATOM to Turn into Preferred Collateral
In the words of Hart, the document points toward the Cosmos Hub’s shift to the further level of having the status of a venue offering infrastructure-related services. In line with the respective document, the role of ATOM would be that of preferred collateral operating under the Cosmos Network.
Apart from that, the white paper pointed toward a couple of functionalities, taking into account Interchain Allocator and Interchain Scheduler, in addition to mentioning an exclusive optimized issuance system to deal with liquid staking. As the document puts it, Cosmos Councils would manage the proposed strategy through the domain-specialized entities having the responsibility to carry out operations and development.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
