Fork “Cosmos Hub” Cosmos development company AiB plans to launch governance chain

Fork Cosmos Hub

All in Bits (AiB), the developer of the crypto asset (virtual currency) Cosmos (ATOM), plans to launch a blockchain specialized for governance use, “GovGen'', at 11:00 pm on the 27th Japan time.

GovGen will build to design a new blockchain called “AtomOne”. AtomOne is a fork of Cosmos's blockchain “Cosmos Hub.''

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The reason behind forking Cosmos Hub and launching AtomOne is the difference in direction from the current Cosmos. AiB co-founder Jae Kwon says he has been at odds with the Cosmos community for the past few years.

GovGen issues and distributes the token “GOVGEN” used for governance, but the target of this distribution is the members selected from among those who voted against Cosmos' proposal “848.” 848 is a proposal to reduce the inflation rate of ATOM tokens to 10%.

The proposal, which was approved by vote last November, passed by a narrow margin with 41.1% in favor and 38.5% against. Those selected from among those who voted against the proposal will become the founding members of AtomOne.

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Please note that GOVGEN is only used for governance and cannot be sent or traded.

Purpose of AtomOne

The purpose of creating AtomOne is to maintain the vision when Cosmos Hub was founded. The company has made it clear that it is not trying to conflict with Cosmos, and has launched a new proof-of-stake (PoS) blockchain, AtomOne, to discuss the design and support the Cosmos ecosystem. There is.

AiB found that the results of the Prop. 848 vote indicate that many in the minority of the Cosmos community believe that Cosmos Hub is vulnerable to disagreements over core topics such as mission, token design, and security. claims.

He also pointed out that the approval of 848's proposal represents a significant departure from the initial design of “maintaining the security of the ecosystem through ATOM staking.” He also states that ATOM has become stronger as a currency.

AiB hopes to serve as a bridge to maintain the safety of Cosmos Hub and provide technical support to guide future development.

When 848 was approved, there were objections such as, “Due to a reduction in funding due to inflation, the validator community may become less diverse and more concentrated in a few groups.''

Kwon explained to The Block that GovGen's purpose is to “provide a forum for public discussion to fork the blockchain based on governance.”

AtomOne will be launched once the design is finalized.

connection: Proposal to reduce Cosmos (ATOM) inflation rate to zero is rejected by node operators