JULY 16, 2021
Cosmos vs Ethereum vs Polkadot: Internet of Blockchains? A Conversation with Tendermint’s CEO.
We had the pleasure of speaking with Peng Zhong, CEO of Tendermint, a core contributor to the Cosmos Network. With a background in interaction design and front-end engineering, he focuses on guiding blockchain technology across the chasm to the mainstream. On the side, he mentors a world-class team that builds applications to improve the usability, accessibility, and safety of blockchain for developers and end-users.
What differentiates Tendermint from other blockchain companies is their futuristic and community centric approach, as Peng would say. Their vision: “to empower people to create a transparent and accountable world through open, distributed, and interoperable networks.”
In our conversation with him (back in April 2021), we spoke about three significant topics: firstly, the relationship between video games (his long-term passion) and cryptocurrencies, what makes a quality blockchain, and the next steps for Ethereum in 2021.
The gamification of tokens
Speaking with the mastermind of Tendermint, we learned about the networking effect, and it’s relation to blockchain technology. If you are new to this term, it represents the phenomenon whereby increased numbers of people or participants improve the value of a good or service, just like The Internet and it’s evolution. The special part about gaming for Peng, is that so much of it’s value can be compared to holding tokens. In other words: “The gamification of tokens, and the ability for people to earn online, which is reminiscent of role playing games.”
What makes a quality blockchain?
Decentralisation is a key aspect within this industry. At Cosmos, it’s all about “delegated proof of stake”, where 100 validators are able to validate particular chains. According to Peng, this means that each chain is siloed in terms of security from every other chain. So if a 100 chains are taken down, the other thousands of chains will still live and won’t be affected.
ETH and what to expect for ETH2.0?
The topic is unavoidable when speaking with Blockchain experts in the industry. Ethereum 1.5 has been in the news lately, and we asked Peng how optimistic he feels about this transition this year from a tech standpoint: Besides the ever growing competition with new projects coming out, “I’m optimistic that Ethereum 1.0 or 1.5 will be out there, but I don’t know if it will be out by the end of the year. Nonetheless, I am incredibly Bullish on Ethereum as a whole. There is so much mind power behind it, and they will solve problems no matter how long it takes”.
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