Cosmos founding team described the Cosmos ecosystem as the “Internet of blockchains”. Cosmos’ goal is to develop an ecosystem of crypto networks bridged by open-source tools, which streamlines transactions between them.
What makes Cosmos (ATOM) token more unique is its customizability and interoperability features. Unlike other crypto projects that prioritize their network, Cosmos fosters an ecosystem of networks. This way information, data, and tokens can be shared programmatically with no central authority in control.
Cosmos aims to be that bridge that connects blockchains, enabling easy communication, data transfer, transactions between blockchains. The interoperability feature is what keeps the interoperation between various blockchains going and effective. Cosmos believes different blockchains can exist and grow together with their specialized use cases and benefits.
Cosmos technology does not only allow interoperability between various blockchains but also enables developers to build custom blockchains in a matter of weeks or months. A new blockchain developed on Cosmos chain is called a Zone, which is then linked to the Cosmos hub. The Cosmos hub manages the record and conditions of each Zone. Furthermore, its native token “ATOM” powers the Cosmos hub, which is a Proof-of-Stake blockchain.
ATOM is the native cryptocurrency of the Cosmos network. It serves as a utility token within the ecosystem, allowing users to participate in various activities such as staking, governance, and transactions across different interconnected blockchains within the Cosmos network. ATOM plays a crucial role in securing the network, incentivizing validators, and facilitating interoperability between different blockchain applications within the Cosmos ecosystem.
The primary objective of ATOM is to ensure the security and upkeep of the Cosmos Hub network. Visualize the ATOM token as the foundational pillar that upholds the seamless interoperability between all Zones, which function as mini-blockchains under the Cosmos hub. ATOM is poised to gain greater value compared to many other blockchains as additional blockchains are created within the Cosmos hub. These newly developed blockchains will depend on the Cosmos hub to manage their transaction histories and accounts, further solidifying the importance of the ATOM token.
In the bid to understand what is Cosmos, we will take a look at the creators of the project. Developers Jae Kwon and Ethan Buchman both founded the Cosmos network, backed by the Interchain Foundation (ICF). The ICF is a Swiss non-profit organization that majors in funding open-source blockchain projects. They helped develop and launch the Cosmos ATOM crypto in 2014.
In 2019, Jae Kwon and Buchman decided to author the Cosmos white paper and release its software. Initially, ICF launched a two-week Initial Coin Offering (ICO) of ATOM tokens in 2017, which raised about $17 million in sales. Also, in 2019, Tendermint Inc. was able to raise $9 million for the continuation of the project via a Series A round funding. As of November 17, 2021, Cosmos is priced at $28.38 with a daily trading volume of $538,112,217.
As of writing, it is ranked #22 on CoinMarketCap, with a live market cap of $3,533,423,626. Even though it doesn’t have a max supply, Cosmos’s circulating supply is 384,006,995 ATOM coins.
The Tendermint Core functions with a Byzantine Fault Tolerance (BFT) consensus engine. BFT features a 1-second block time, which has a theoretical capability to handle the transaction volume of 10,000 TPS for 250-byte transactions.
Cosmos SDK is a technological toolset that aims to ease the process of creating secure dApps on Tendermint. Developers agree that building blockchain should be simplified to the extent that the coding required should not be more than several modules.
Inter-blockchain Communication Protocol (IBC) is paired with Tendermint to enable various chains to exchange value and data among each other. If various blockchain frameworks operate the same apps and validator set, the blockchains are bound to attain infinite theoretical scalability. The Cosmos team describes this realization as the Horizontal one.
Building on Cosmos is done in three simple steps.
1. Write Your Custom Blockchain. The first step is to write your custom blockchain. Developers do this by mixing prebuilt and custom-made modules.
2. Launch Your Brand-New Blockchain. Before launching your public main-net, you can test your MVP with users to collect feedback and redo the necessary details for improvement.
3. Connect To Other Cosmos Blockchains. Connecting the blockchain to the Cosmos Network via IBC can increase adoption and liquidity in the developed blockchain.
Cosmos is impressive and you’re probably willing to try out how it works or even build an own blockchain. Well, what about getting some ATOM tokens first? You can easily do it on Swapzone. Here’s the guide to help you out:
Need a wallet to store your ATOM tokens? Fret nor, here are some options to choose from. These are some of the popular ones:
This is one of the most popular Cosmos ATOM wallets where you can store ATOM securely. It is a multi-currency wallet, which means you can store ATOM, BTC, ETH, LTC, BNB, and many other cryptocurrencies.
This is another wallet where you can store your Cosmos ATOM crypto after you buy it from any Cosmos exchange. Mind you, it is a web-based wallet in the same form that you have MetaMask.
Another popular Cosmos ATOM wallet where you can transfer your Cosmos coins after buying them from any of the Cosmos ATOM exchanges is Trust Wallet. Here you can store Cosmos, Bitcoin, Binance Coin, Ethereum, etc.
Cosmos (ATOM) is a cryptocurrency that serves as the native token of the Cosmos network. The Cosmos network aims to create an Internet of Blockchains, enabling different blockchain networks to interoperate and communicate with each other seamlessly. ATOM holders have governance rights within the Cosmos ecosystem and can participate in network upgrades and decision-making processes. Additionally, ATOM serves as a staking token, allowing users to secure the network by staking their tokens and earn rewards in return. It plays a crucial role in the overall functionality and governance of the Cosmos network.
According to our research, the occurrence of this event seems unlikely. However, it's essential to recognize that the cryptocurrency market is inherently highly unpredictable, with high volatility. In this dynamic environment, unforeseen developments or shifts can transpire, emphasizing the need for vigilance and adaptability.
Cosmos places a strong emphasis on interoperability, enabling seamless asset and data transfers across multiple blockchains within its ecosystem. Unlike Ethereum, which primarily focuses on its own network, Cosmos aims to facilitate greater flexibility and scalability by fostering interoperability between different chains. This approach empowers users to leverage the advantages of various blockchain networks while maintaining a cohesive and interconnected ecosystem. By prioritizing interoperability, Cosmos opens up new possibilities for collaboration, innovation, and the efficient exchange of information and value across blockchains.
As of the time of writing - $44.45.
The future of Cosmos (ATOM) hinges on factors like its innovative decentralized network and potential for technological advancements. Despite bearish market sentiment, 2024 and 2025 show growth projections of $7.90 to $19.49 and $18.69 to $20.28, respectively. Caution is urged due to recent value decreases, emphasizing the need for careful analysis before investing. External influences, such as regulatory changes, add to the inherent risks in cryptocurrency investments. Individual risk tolerance and thorough research are crucial considerations.
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