Cosmos, often hailed as the “Internet of Blockchains,” is a transformative blockchain platform designed to address one of the most significant challenges in the blockchain industry: interoperability. By enabling different blockchain networks to communicate, share data, and transact seamlessly, Cosmos is paving the way for a more connected and efficient decentralized ecosystem. At its core is the ATOM token, which powers the Cosmos Hub, the central blockchain facilitating these interactions. This educational guide explores the history of Cosmos, highlighting key milestones that have shaped its development and its role in the blockchain landscape.
Understanding Cosmos and Its Vision
Cosmos is a decentralized network that connects various blockchain networks, known as zones, through its innovative Inter-Blockchain Communication (IBC) protocol. Unlike traditional blockchains that operate in isolation, Cosmos allows these zones to exchange tokens and data securely without relying on third parties. The Cosmos Hub, the first blockchain in the network, is powered by the ATOM token, which serves multiple purposes: paying transaction fees, staking for network security, and participating in governance decisions.
The platform’s core components include the Tendermint consensus algorithm, which ensures fast and secure transaction processing, and the Cosmos Software Development Kit (SDK), a modular framework that enables developers to build custom blockchains tailored to specific needs. By combining these technologies, Cosmos creates a flexible and scalable ecosystem that fosters collaboration among blockchain networks.
The Genesis of Cosmos (2014–2016)
The story of Cosmos began in 2014 when developers Jae Kwon and Ethan Buchman co-founded Tendermint, a company dedicated to advancing blockchain technology. They developed the Tendermint consensus algorithm, a proof-of-stake (PoS) mechanism designed to be fast, secure, and scalable. Unlike traditional proof-of-work systems used by Bitcoin, Tendermint offered a more efficient way to achieve consensus, laying the foundation for Cosmos.
In 2016, Kwon and Buchman authored the Cosmos white paper, outlining their vision for a network of interconnected blockchains. The white paper introduced the concept of the Cosmos Hub, a central blockchain that would connect various independent zones using the IBC protocol. This vision aimed to create an ecosystem where blockchains could operate autonomously yet communicate seamlessly, addressing the fragmentation prevalent in the blockchain industry.
Funding and Early Development (2017–2018)
To bring their vision to life, the Interchain Foundation (ICF), a Swiss non-profit organization supporting open-source blockchain projects, conducted an initial coin offering (ICO) for the ATOM token in April 2017. The ICO was a remarkable success, raising over $17 million in just 29 minutes, reflecting strong community support and interest in Cosmos’s interoperability goals.
Following the ICO, the Cosmos team focused on developing and testing the network. In December 2018, they launched the Game of Stakes, a competitive testing environment that allowed participants to act as validators and delegators. This event was instrumental in stress-testing the Cosmos Hub, ensuring its stability and security before the official launch.
Mainnet Launch and Ecosystem Growth (2019)
A pivotal moment in Cosmos’s history came in March 2019 with the official launch of its mainnet, introducing the Cosmos Hub and the ATOM token to the world. This marked the beginning of a new era in blockchain interoperability, as developers could now build and connect their own blockchains within the Cosmos ecosystem.
In the same year, Tendermint Inc., the company behind the Tendermint algorithm, secured $9 million in Series A funding to support further development and expansion of the Cosmos network. Additionally, in November 2019, Kava Labs became one of the first projects to launch its mainnet using the Cosmos SDK, demonstrating the platform’s practical utility for building custom blockchains.
Leadership Transitions and Continued Progress (2020–2021)
The year 2020 brought both challenges and opportunities for Cosmos. In February, co-founder Jae Kwon stepped down as CEO of Tendermint Inc., though he remained involved as the principal architect. Peng Zhong took over as CEO, bringing new leadership to guide the project’s growth.
Despite this transition, Cosmos continued to advance its mission. In February 2021, the project launched Stargate, a significant upgrade that included the first public release of the IBC protocol. This protocol enabled secure and efficient communication between different blockchains within the Cosmos ecosystem, fulfilling a core promise of the project. The Stargate upgrade marked a major step toward realizing the vision of an “Internet of Blockchains”.
Recent Milestones and Ecosystem Expansion (2022–2025)
Since the Stargate upgrade, the Cosmos ecosystem has grown significantly, attracting numerous projects that leverage its interoperability features. For example, Osmosis, a decentralized exchange built on Cosmos, has become a popular platform for trading assets across different blockchains. As of December 2023, the Cosmos Network hosted over 249 interchain apps and services, a number that has likely increased since then.
In April 2025, Cosmos achieved another groundbreaking milestone with the launch of IBC Eureka, a transformative upgrade to the IBC protocol. Developed by Interchain Labs, IBC Eureka enabled native interoperability between Cosmos and Ethereum, eliminating the need for traditional bridges and facilitating direct, secure, and low-cost communication between these major blockchain networks. This upgrade has positioned Cosmos as a leader in Web3 interoperability, with projects like Babylon, dYdX, MANTRA, and Injective integrating for applications such as Bitcoin staking and decentralized finance.
The History of Cosmos
| Milestone | Date | Description |
| Founding | 2014 | Jae Kwon and Ethan Buchman founded Tendermint, creating the Tendermint consensus algorithm. |
| White Paper | 2016 | Cosmos white paper published, outlining the vision for an interoperable blockchain ecosystem. |
| ICO | April 2017 | Raised over $17 million in 29 minutes for the ATOM token. |
| Game of Stakes | December 2018 | Competitive testing phase to stress-test the Cosmos Hub. |
| Mainnet Launch | March 2019 | Official launch of the Cosmos Hub and ATOM token. |
| Series A Funding | 2019 | Tendermint Inc. raised $9 million for ecosystem development. |
| Kava Labs Mainnet | November 2019 | One of the first projects to launch using Cosmos SDK. |
| Leadership Change | February 2020 | Jae Kwon stepped down as CEO; Peng Zhong became CEO of Tendermint Inc. |
| Stargate Upgrade | February 2021 | Introduced the IBC protocol, enabling blockchain interoperability. |
| IBC Eureka | April 2025 | Enabled native interoperability with Ethereum, enhancing cross-chain capabilities. |
Conclusion
From its inception in 2014 to the transformative IBC Eureka upgrade in 2025, Cosmos has consistently pushed the boundaries of blockchain technology. By focusing on interoperability, Cosmos has created a platform where diverse blockchain networks can collaborate, fostering innovation and efficiency in the decentralized world. With a growing ecosystem and ongoing advancements, Cosmos continues to play a pivotal role in shaping the future of blockchain technology.