How to Buy Cosmos Coin: Exploring the ATOM Crypto Ecosystem
Since the beginning of the crypto age, interoperability has been an issue for blockchain developers. Interoperability is what enables communication between two or more systems, in this case – between blockchains. Cosmos is the first entirely free platform to enable interoperability between different systems with over $151 billion in digital assets under management. Cosmos (ATOM) is the cryptocurrency that powers and secures the ecosystem of blockchains designed to scale and interoperate with one another. Let’s take a closer look at ATOM crypto and how to buy Cosmos coin.
Where and How to Buy Cosmos Coin?
There are many exchanges where one can buy ATOM crypto, and StealthEX is one of the safest options. This platform offers users to get Cosmos crypto with no extra fees and with the best floating and fixed rates. This cryptocurrency is always freely available for purchase via StealthEX.
Just follow the guidelines below. Let’s imagine you want to exchange ETH for ATOM. To make an exchange, you need to take a few simple steps.
First, you should choose Ethereum in the left drop-down list. Then choose Cosmos (ATOM) in the list of coins on the right.
After setting the pair it is necessary to enter the amount of ETH you want to exchange. Here you will see the estimated amount of Cosmos coin that you will receive after the exchange.
Now, when everything is set, press the Start Exchange button and you will be taken to the next page.
In the second step, you need to provide the ATOM coin recipient address. The recipient address must match the crypto you are going to receive. Remember to double-check the information you enter prior to the exchange as the transaction you make cannot be canceled.
As soon as you have carefully checked all the details, you can press the Next button and you will be redirected to the Confirmation page.
Pressing the Next button you will be redirected to the Exchange page.
At first, you will see the address where you need to send your Ethereum to continue the exchange. StealthEX will also provide you with the exchange ID. It will allow you to keep all the information about the swap. It is recommended to save your exchange ID or the link to your exchange.
After sending ETH coins to the shown address, the information on the Exchange page will be renewed automatically. The Exchange page has several statuses that will change during the time of the exchange.
- The first status is Awaiting deposit.
- The following status is Confirming. This means that StealthEX is confirming the transaction you made.
- The next status is Exchanging. During this time the exchange is being made.
- Then the status will be changed to Sending to your wallet. This indicates that there are just a few minutes until you receive your ATOM token.
Finally, you will be redirected to the Finish page. This shows that the exchange has been successfully made and you will receive crypto to the address provided. To be sure that ATOM crypto was sent to your wallet you can also use the Output hash shown on this page and check it in the blockchain list of transactions.
From here you can either create a new exchange on StealthEX or leave the page and check your ATOM crypto wallet to be surprised at how fast you get ATOM coin sent to your address. Usually, the process is quite rapid so you won’t need to wait long: Cosmos swaps are processed in a matter of minutes.
Now that we’ve sorted out how you can buy ATOM via StealthEX, let’s take a closer look at Cosmos features and what it brings to the vast crypto space.
Cosmos Project: First Steps
The Cosmos blockchain dubbed ‘The Internet of Blockchains’ was developed to facilitate communication between distributed ledgers without relying on a centralized server. The memorable ‘go-live date’ started on March 13th, 2019 with validators and community members participating from all over the world. The Cosmos Hub mainnet launch was two years in the making and the first phase of a three-phase rollout of the Cosmos Network.
Shortly after its launch, Cosmos successfully climbed the ladders in the crypto market as one of the most promising investments in 2021, and its current CoinMarketCap ranking is #20, which makes it one of the top investments in the crypto field.
Cosmos Blockchain: Principles of Work
The Cosmos network is an ever-expanding ecosystem of apps and services interconnected. It uses hubs, the Tendermint consensus algorithm, and the Inter-Blockchain Communication (IBC) protocol to ensure that blockchains can communicate securely. Cosmos offers open-source tools to allow developers to build decentralized and sovereign blockchain applications called zones instead of relying on one single chain. The zones are Cosmos smart contracts. The Cosmos team has built the software development kit (SDK) that allows developers to build zones faster, simpler and cheaper than other platforms like Ethereum.
To maintain interoperability between all zones within the Cosmos network, the Cosmos Hub uses Proof-of-Stake (PoS) mechanism. In its work, the Cosmos Network also heavily relies on hubs. Each zone connects to another zone through hubs. Cosmos Hub is the main one, but other hubs are also available. Any zone or hub does not necessarily have to work with another, but each new zone is linked to the Cosmos Hub, the first blockchain launched on the Cosmos network that keeps a record of each zone’s state and vice versa. The latest Lambda upgrade was the first iteration of Replicated Security that allows consumer chains to benefit from the use of the Cosmos Hub’s validator set without having to maintain their own validator set separately.
Tendermint Byzantine Fault Tolerance (BFT)
Cosmos SDK tools use by default the Tendermint Byzantine fault tolerance (BFT) engine consensus protocol to secure the network, yet others can also be used. Tendermint BFT allows developers to build blockchains without coding them from scratch. The Tendermint BFT algorithm validates transactions and executes blocks to the blockchain. It uses a protocol called the application blockchain interface to connect to applications.
The Proof-of-Stake (PoS) governance mechanism supports integrating the computers’ distributed network running Cosmos Hub. Participants in the network can stake ATOM and earn rewards. The top 100 stakers can become validator nodes to power the blockchain and vote on changes. The higher the amount of ATOM staked, the higher the voting power for the validators. Staking ATOM can be quite profitable: it can earn you up to 22% APY.
Users can also choose to delegate their tokens to validators and interchange them. This incentivizes validators to perform honestly. Users can easily switch between the validators they delegate ATOM to, depending on their voting preferences. Hubs and zones communicate through the Inter-Blockchain Communication, or IBC, protocol, which allows them to interact.
ATOM Coin: Unlocking Cosmos Network’s Potential
The Cosmos Network implemented two tokens. ATOM is the staking coin that is mainly used for governance, while Photons are the coins used for the payment of the transaction fees within the Cosmos platform ecosystem. As the zones can use their own tokens, the validators in the hubs can have their transaction fees paid in any token combination. Two percent of the fees are earmarked for the reserve pool, while the rest goes to the validators based on the size of their stake.
The initial coin offering (ICO) for the Cosmos was held in April 2017, ending up with more than USD 17 million collected as part of the fundraising effort. The circulating supply of ATOM is capped at 286 million ATOM. After the launch of the Cosmos mainnet on March 13, ATOM found itself being added to various cryptocurrency exchanges, and it’s currently a popular digital asset for trading and hodling.
When it comes to Cosmos crypto price, at the moment the currency trades for about $12, which is quite low, considering its all-time high in 2021 was $44.70. In terms of ATOM future, many crypto analysts believe that Cosmos has a bright future. Some claim it can easily go as high as $250 per coin by 2030. The Cosmos teams are actively working on its blockchain: they host Interchain Sessions and introduce new solutions. With so much going on, Cosmos has a good chance of solidifying their blockchain’s future.
StealthEX offers one of the quickest ways to buy Cosmos (ATOM) effortlessly and without any hassle. It’s simple, it’s safe, and it’s easy!
Make sure to follow StealthEX on Medium, Twitter, Telegram, YouTube, and Publish0x to stay updated about the latest news on StealthEX.io and the rest of the crypto world.
Don’t forget to do your own research before buying any crypto. The views and opinions expressed in this article are solely those of the author.ATOM Cosmos Cosmos ATOM Ethereum how to buy