Cosmos discovery: Quantitative assessment of Cosmos blockchain

Abstract

Blockchain technology has experienced significant advancements, with Proof-of-Stake emerging as a notable alternative to traditional Proof-of-Work blockchains. Among various PoS blockchain systems, Cosmos stands out as a prominent example due to its ecosystem designed to facilitate interoperability between different blockchains built on their platform through the Inter-Blockchain Communication protocol. What is more, Cosmos is operated by the unique consensus mechanism, namely CosmosBFT that supports multiple rounds for an agreement on block of the same height. This study examines the current state of blockchains within the Cosmos ecosystem, highlighting two major issues. First, we observe the multi-round performance in Cosmos blockchain using the process algebra tool to create our model featured non-homogeneous proposers. Second, we propose a method for determining optimal timeouts for the Propose step in any network within the ecosystem. In addition, we identify a skewed distribution of voting power among validators, favouring top-ranked members. This concentration of VP threatens the network’s decentralisation and immutability, as it allows a small group of members to potentially corrupt the consensus process. Our models, although parameterised for a particular Cosmos instance, are applicable to any blockchain that use the CometBFT protocol, offering valuable insights for enhancing efficiency of consensus mechanisms in the decentralised networks.