Cosmos is a blockchain platform that allows you to create and connect multiple independent blockchains into an extensive interoperable network. It provides a comprehensive set of tools for various tasks, such as hosting a dApp in the Cosmos Hub ecosystem, building enterprise blockchains, and implementing a small mode for general use.
Blockchains were previously siloed and unable to interact with one another. Cosmos overcomes these challenges with a fresh perspective. Let’s provide a comprehensive guide to building an NFT marketplace on Cosmos SDK chains.
How does Cosmos fit in the blockchain ecosystem?
To understand how Cosmos fits into the blockchain ecosystem, we must first understand the limitations that other platforms, such as Ethereum, have been unable to overcome. The following are some of the regulations that prompted the development of the Cosmos blockchain platform:
- Scalability
- Sovereignty
- Usability
The constraints do not apply only to Ethereum, but to all blockchains that aim to create a single platform that can accommodate all use cases. This is where Cosmos enters the picture.
A glance at the Cosmos Blockchain
Cosmos allows developers to create blockchains and bridge the gap between them by allowing them to communicate. Cosmos blockchain’s goal is to build an internet of blockchains, a network that will enable blockchains to interact with one another in a decentralized manner.
Blockchains can use Cosmos to process transactions quickly, maintain sovereignty, and interact with other blockchains in the ecosystem, making it ideal for various use cases.
The goal is accomplished through open-source tools, including Cosmos SDK, IBC, and Tendermint, that enable people to create secure, custom, and scalable blockchain apps. Let’s look at some of the ecosystem’s most essential tools and learn how to build an NFT marketplace with Cosmos SDK?
How to build an NFT marketplace with Cosmos SDK?
The Cosmos SDK is a modular software suite to create blockchain apps and blockchains. The platform includes a template project that consists of the entire blockchain app source code and allows developers to focus solely on application logic. The SDK handles blocks, daemons, consensus, staking, and other aspects.
Once the code is complete and compiled, the Cosmos SDK creates a daemon with REST API access, a console line interface, and a collection of utilities for staking, running lite clients, and full nodes. You do not need to configure the network. To connect to a network, a user should launch a daemon and access it similarly to how they would access the Cosmos Hub’s Gaia.
If you need to allow staking in your blockchain, share the utility and settings and set up the ATOM wallet to pay out to the delegates. From transactions to exchanges, Cosmos handles it all.
Like other blockchain platforms, your Cosmos blockchain app can receive updates without requiring a hard fork. Furthermore, the governance mechanism is already in place on the Cosmos platform.
The difference is that you have the only valid vote if you want to update the private blockchain. The Tendermint BFT consensus ensures that the blockchain saves only valid data and that there is no conflicting evidence in high-load distributed networks.
Conclusion
Thanks to the Cosmos SDK chains, developers can now create web3 apps without starting from scratch. They can rely on the SDK, which provides a basic framework of common blockchain functionalities for building dApps with maximum composability, security, and modularity. Contact SmartOSC if you want to develop an NFT marketplace with a user-centered design and powerful features.
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