Regarding views on the COSMOS ecosystem

I probably discussed more about the COSMOS ecosystem in 2019. At that time, I held ATOM and was optimistic about the cross-chain ecology.

In the cross-chain ecological field at that time, COSMOS and Polkadot were hailed as the top projects of the same year. Therefore, whenever I talk about cross-chain ecology, I often compare these two ecosystems together.

However, as my understanding of Ethereum gradually deepened, I began to realize that at that time, there was only a real cross-chain need between Bitcoin and Ethereum.

Whether it is COSMOS or Polkadot, they have not been able to effectively solve the cross-chain problem between Bitcoin and Ethereum. Rather than adopting a decentralized approach, they prefer to create new blockchains, or provide tools (such as COSMOS's SDK and Polkadot's Substrate) to enable users to easily build new blockchains.

At that time, I firmly believed that we did not need a large number of main chains. What we needed was to expand Bitcoin and Ethereum. This is what we now know as the second layer expansion system.

After this cognitive change, I gradually looked down on the development of COSMOS and Polkadot.

In 2019, the COSMOS founding team had internal disagreements. I think this will have an extremely serious impact on the long-term development of the project.

Under the influence of these factors, I cleared ATOM without hesitation.

Since then, I have not paid special attention to the development of COSMOS and Polkadot because I think the scenes they depict are pseudo-demands.

Last year, COSMOS caught my attention again because of another project: Celestia, a modular blockchain built with the COSMOS toolkit.

The reason why I pay more attention to Celestia is that it targets a difficult problem that needs to be solved in Ethereum: data availability.

With the current design of Ethereum, as the transaction volume increases dramatically, when more and more data is stored on Ethereum, Ethereum will be overwhelmed.

Celestia attempts to create a blockchain dedicated to data availability, stripping the function of data availability from Ethereum.

I am cautiously optimistic about this idea.

I still think that for some projects with high security requirements, data availability must still be placed on Ethereum, but for some projects with less high security requirements, data availability may be placed here. Modular blockchain is a solution worth trying.

So I have been paying close attention to the development of Celestia, and learned that it used the COSMOS toolkit to build this solution.

This made me start paying attention to the development of COSMOS again.

Later, Celestia very generously issued an airdrop. The scope of the airdrop covered not only users of the Ethereum ecosystem but also users of the COSMOS ecosystem. And after the airdrop, the price of the token was not only strong, but also rising.

This move has created quite a good buzz and atmosphere for the entire encryption ecosystem.

With Celestia as an example, many modular blockchains that are in progress or are about to be launched have also adopted COSMOS toolkits to build their own solutions and are planning generous airdrops.

I estimate that these upcoming airdrops will also benefit users who hold and stake ATOM.

It is conceivable that the airdrops of projects based on the COSMOS toolkit starting from Celestia and the upcoming ones will not only benefit these projects themselves, but also benefit ATOM.

But all these factors that are good for ATOM do not come from the "cross-chain" business originally designed by COSMOS, but the new businesses related to the Ethereum ecosystem derived from its toolkit.

Perhaps this is the best explanation of "the flowers planted intentionally will not bloom, but the willows planted unintentionally will be shaded" in the crypto ecosystem.

Regarding the future of COSMOS, I am still not very optimistic about its "cross-chain" main business. Instead, I will pay attention to how its toolkit will be used to build other applications, and what applications ATOM tokens may be used for. Price support factors obtained from.

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