After two respective adjournments, the Cosmos vote date to approve the proposed changes in the Network Hub has now been set for October 31.

The changes proposed by the Cosmos developers are said to mark Cosmos Hub’s transition to the next phase as an infrastructure services platform and a renewed role for ATOM as a preferred collateral within the Cosmos Network.

According to the proposal In this document, the Councils of the Cosmos, formed by entities specialized in domains, would be in charge of the proposed plan and would also be responsible for the execution of the development and operations.

The chain vote on the proposal was initially scheduled for October 3, before the updated version of the project’s white paper, the initial version of which was presented in September.

the White paper proposed the project’s plan to rebuild its Hub to be more interoperable and secure with a mechanism called cross-chain security. This mechanism allows application-specific chains in the Cosmos ecosystem to be secured using the Cosmos Hub.

The whitepaper also included critical changes to the Cosmos (ATOM) token, with a new issuance model focused on achieving an improved balance between growth and cross-chain adoption in the ecosystem while maintaining the security provided by the original regime, according to the whitepaper. technical.

Another area the whitepaper focuses on is two functionalities, namely Interchain Scheduler and Interchain Allocator, including a new issuance regime optimized for liquid staking.

Cosmos is an interoperability ecosystem of various blockchains that can scale and interact with each other using Inter Blockchain Communication (IBC) protocol via Cosmos Hub.

Cosmos Hub is the first blockchain built on the Cosmos ecosystem; it initially acted as an intermediary between other interconnected blockchains.

Along with Cosmos’ updated version of its white paper, the ecosystem has thus far proven to be developing. It has a total of 14 chains inhabiting the ecosystem, with the Cronos chain being the most dominant with a total closed value of approximately $810.71 million, according to data from DeFiLama.

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