Cosmos (ATOM): What is it?
Atom Cosmos by Crypto Nation – July 12, 2021
By Crypto Nation – July 12, 2021
Cosmos crypto card summary:
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The fundamental data of the Cosmos
- Name: Cosmos
- Symbol: ATOM
- Type: Blockchain, Infrastructure
- Consensus: Proof Of Stake (PoS)
- Year of creation: 2017
- Founders: Jae Kwon and Etan Buchman
- Official website: https://cosmos.network/
- Mainnet: Yes – https://www.mintscan.io/cosmos
- Whitepaper: https://v1.cosmos.network/resources/whitepaper
- Code: https://github.com/cosmos
- Twitter: @cosmos
Cosmos market data
Below are the basic market informations regarding this cryptocurrency:
- Price: It is expressed in dollars ($). There is also its percentage change (%) over the last 24 hours.
- Rank: Ranking of this cryptocurrency among all those referenced on CoinMarketCap. This is done according to the market cap.
- Market cap: Market capitalization represents the total dollar ($) value of all coins in circulation.
- Volume: It represents the total dollar ($) amount of the cryptocurrency in question traded over the last 24 hours.
What is the goal of the Cosmos project?
The Cosmos project aims to become, like Polkadot, the internet of blockchains, by creating protocols allowing them to be linked.
Through the Tendermint protocol, these blockchains will be able to communicate by sending tokens or various messages. Tendermint is a software allowing to replicate in a safe and coherent way an application on many machines.
Cosmos thus hopes to unite a hitherto very fragmented sector by becoming the blockchain of blockchains.
The origin of the project
In 2014, the idea of Cosmos was born in the mind of Jae Kwon. The latter joined forces with Ethan Buchman in 2015. Together, they created the Tendermint protocol.
The 2017 ICO raises $ 24 million in ETH and BTC.
The development is funded by the Interchain Foundation based in Switzerland, 45 people make up the team and the majority live in the USA and Germany.
What is its use?
The ATOM token is the guardian of the Cosmos network, it ensures its security and decentralization via staking. This foreclosure of ATOM by users earns them interest of 7 to 20% per year.
In addition, holders obtain a right to vote within the ecosystem, via the Cosmos Hub.
Official staking guide, to join the network:
Management of the economy (as of 07/08/2021)
The number of ATOMs is not limited. There are currently around 218 million in circulation.
75% of the chips were distributed to private and public investors, and 25% remaining are shared between companies Tendermint Inc, the Foundation Kewill and All in bits Inc.
Diagram of the evolution of the cryptoactive
Where to store your cryptocurrency
If you prefer to take your cryptocurrencies out of centralized exchanges, you can store your Cosmos (ATOM) via various solutions:
- Atomic Wallet, a very complete and secure software wallet.
- Trust Wallet, bought by Binance, it has become the benchmark mobile wallet.
- Ledger, very secure wallet hardwares, the best known being the Ledger Nano S.
- Cosmostation, the official Cosmos web and mobile wallet.
More details on the different types of cryptocurrency wallets on our dedicated page, accessible by clicking here.
Our opinion on this project
Cosmos is a very large project, still far from having expressed its true potential. A universe of connected services, inter-blockchain applications and communications, a bunch of essential and innovative features are the key to this project.
This ecosystem is vast and is developing on more than solid foundations. Cosmos is in our view, without investment advice, a trustworthy investment.
We can dream far ahead with such a project, which could become a pillar of an economic system of the future, thanks in part to its transaction time and very low costs, as well as its consensus with a very reasonable carbon impact.
In addition to the fact that everyone is free to participate in the expansion of the network, Cosmos gives everyone the opportunity to build their own system on a quality foundation.