Assertion Supported
Kwon: Tendermint Secures Distributed Ledgers Without Energy-Intensive Mining
“Tendermint, Tendermint is a replacement. It's an alternative to proof of work. It's a way to have a secure distributed ledger without having to Burn energy to try to win a lottery ticket.”
Disclosure
Kwon: Cosmos avoids the term 'ICO' to sidestep securities classification
“You know, we avoid the term ICO precisely because we don't want to associate it with a security offering.”
Assertion Supported
Kwon: Bitcoin Miners Burn Energy Because Block Rewards Dwarf Transaction Fees
“You see that the block reward is a hefty, like, hundreds of millions of dollars a year, if not a billion at this point, of rewards. And the transaction fees, In comparison, are much smaller. That's why Bitcoin miners don't care about the transaction fee right …”
Assertion Supported
Kwon: Cosmos reached its $17 million fundraising cap in 29 minutes
“We raised we had a cap of seventeen million. At USD? USD. So we filled that cap in 29 minutes, so we had to stop accepting funds.”
Insight
Kwon: Blockchains derive security from being lightweight enough for users to audit locally
“Everyone gets security from the fact that they know that they can download the blockchain around themselves. They can audit it themselves. It's accessible. So, it's good that a blockchain is a small machine, but replicated all around the world so that it's not…”
Disclosure
Kwon: Cosmos is building an interoperable network of blockchains
“We use this to create a network of blockchains that can talk to each other and interoperate, and that's called Cosmos. That's the project we're building.”
Disclosure
Kwon: Cosmos contributors will receive Atom staking and governance tokens at Genesis
“And on Genesis Day, all the contributors are going to get, on that Genesis block Atom tokens. They are staking tokens. They're tokens that allow you to vote on the blockchain, participate in consensus, you know, make governance governance decisions about where…”
Assertion Supported
Kwon: Tendermint functions as an engine for secure state machine replication
“Tendermint is the engine Or it is one of the many engines that enable the creation of blockchains which is synonymous to replicating state machines in a secure way.”
