Comparing Keep ECDSA And Cosmos
As a result of the fast development of blockchain technologies, there has been an increase in the number of people deploying and running nodes on the DeFi ecosystem, which in turn runs on blockchain.
Cosmos and KEEP ECDSA are two nodes in blockchain networks that play an important role in the DeFi ecosystem, aiding the exchange of information and the operation of blockchains in conjunction with each other.
In this article, we compare these two nodes, which are concerned with the interoperability between blockchains and try to tackle the difficult task of transferring assets and data, which often results in a fractured ecosystem.
Keep And Cosmos Approach
Despite their common goal, the two algorithms make use of very different approaches. KEEP ECDSA centers data transfer through its off-chain data storage that does not have access to the data stored. This data is secured using threshold-ECDSA multi-signatures.
Cosmos, on the other hand, is focused on the transfer of assets via the integration of many different blockchains together using an overarching protocol that is very similar to web protocols of the traditional internet.
Although both approaches play important roles in the DeFi ecosystem, KEEP has the advantage of including privacy even within public blockchains. This is evident from the first application developed on the algorithm, tBTC. tBTC was designed to ensure the privacy of Bitcoin transactions.
How Are They Deployed?
KEEP ECDSA node is a lot easier to deploy compared to Cosmos. A single step from the deployment of Cosmos’ validator is way more complicated than the entire deployment process of KEEP.
Another upside of KEEP is that its tokens work in such a way that ensures a fair reward for every node and a steady increase in yield in the event that more applications begin operating on the algorithm.
Cosmos, on the other hand, has a tedious and bulky process of setting up a validator. The validator process involves setting up a full node before you set up your validator, and this does not guarantee that your node will possess any voting power.
Cosmos is more suitable for large players with a lot of skills and resources, unlike KEEP, which caters to a wider audience because of its simplicity and accessibility.
What Blockchain Do They Use?
Currently, KEEP runs on the Ethereum blockchain, one of the most reliable and well-tested blockchains offered by the industry, with its only competition being bitcoin. This means that there is a lower risk level while using KEEP.
Cosmos is deployed on a proprietary blockchain in conjunction with a group of “local” blockchains designed for interaction and exchange with other blockchain networks. This boosts the interoperability of the algorithm.
Wrapping It Up
The relevance of these two networks in developing a more mature DeFi ecosystem cannot be overstated. Although, due to user preference, we cannot pick one of these systems as better than the other, Keep appears to be more advantageous for the general audience.
