Some of the drawbacks of blockchains like Bitcoin and Ethereum, are their scalability, processing speed and complex governance. During Bitcoin Wednesday on 2 November 2016, founder Jae Kwon presented his answer to those problems, Cosmos and its related technology, Tendermint.
Cosmos is a decentralized network of blockchains that eliminates the need for third party exchanges to convert cryptocurrencies of one blockchain to that of another. In this network, each blockchain is known as a Zone, which is fast and scalable. The zones connect to a central blockchain known as the Cosmos Hub, which is managed by a technology known as Tendermint. This framework enables interoperability, resulting in faster transactions and efficient exchange between cryptocurrencies.