Five Reasons Why Provenance Blockchain was Built with Cosmos SDKs

Provenance Blockchain was built using Cosmos SDKs (Software Development Kits) and is part of the Cosmos ecosystem. Cosmos SDK is a modular framework designed to simplify the development of blockchain applications.

Here are five of the reasons why Cosmos SDK was selected for building Provenance Blockchain:

1. Interoperability: Cosmos SDK enables blockchain interoperability, allowing Provenance to connect and communicate with other blockchain networks in the Cosmos ecosystem. This interoperability is crucial for Provenance Blockchain's goal of creating an open and inclusive financial system. The Cosmos ecosystem leverages IBC (Inter Blockchain Communications) protocol, which is a set of standards that enables communication and interoperability between independent blockchain networks. IBC is a fundamental component of the Cosmos Network, a decentralized ecosystem of interconnected blockchains.
2. Customizability: Cosmos SDK offers a high degree of flexibility and customizability. It provides developers with a modular architecture that allows them to choose and implement the specific features and functionalities they require for their blockchain application. Provenance Blockchain leveraged this flexibility to build a blockchain specifically tailored to their needs.
3. Developer-Friendly: Cosmos SDK is designed to be developer-friendly, with comprehensive documentation, helpful tools, and a supportive community. By using Cosmos SDK, Provenance Blockchain benefits from the robust developer ecosystem and takes advantage of the available resources, which accelerated their development process. Cosmos also leverages WASM (WebAssembly), actually CosmWasm to be precise, a binary instruction standard for programming languages, enabling execution in sandbox environments and virtual machines. And unlike EVM, WASM is a far more common standard, also used for web browsers and applications. More information on how EVM compares to WASM can be found in this Introductory Guide on EVM vs. WASM.
4. Security and Stability: Cosmos SDK is built on the Tendermint consensus algorithm, which offers a high level of security and stability. The Tendermint consensus algorithm provides Byzantine fault tolerance, ensuring the immutability and security of the Provenance Blockchain. Recently, Cosmos SDK has migrated to CometBFT as a default, an implementation of the Tendermint consensus algorithm.
5. Scalability: The Cosmos SDK architecture is designed to support scalability. It employs a modular approach that allows for horizontal scaling, meaning that multiple independent blockchains can run in parallel, each handling a subset of the overall workload. This scalability feature aligns with Provenance's objective of building a blockchain that can handle a large volume of transactions efficiently.

The Cosmos SDKs bring key foundational attributes necessary for an institutional-grade and enduring blockchain, such as interoperability, customizability, security, stability, and scalability. These attributes coupled with the core capabilities engineered specifically for Provenance Blockchain have enabled an ideal network for regulated financial services. Provenance Blockchain is where financial services builds and issues digitally-native financial assets.