Proof-of-stake (PoS)

  • Tendermint

    • Instant finality (~1-3 seconds), cannot be uncommitted/reverted

Proof-of-work (PoW)

  • Bitcoin

    • Movement of value

    • It only gets finalized when it's deep in the chain

    • Slow finality due to non-probabilistic finality (~10 mins)

  • Ethereum

    • Smart contracts

    • Ethereum and Ethereum Classic cannot have the same validator set because fundamentally they have different philosophies

    • Cryptokitties's transactions were hogging up the Ethereum's transaction log.

Smart Contracts

  • It should be just smart contract

  • The issue comes when people create an application-based app using smart contract

  • Cosmos SDK makes it really easy to write their own application

Application-Specific Chains

  • Reduces attack surface

  • Efficiency gains due less computational overhead

  • Fine tune to optimize for your application

Hard Spoon

“A hard spoon is a meta-protocol on top of a blockchain creating a token that inherits the blockchain’s underlying token’s balances. The idea of a soft spoon would be to create two competing *branches of a protocol* within *the same blockchain.*” — Vitalik Buterin