What Is Cosmos Crypto?
Cosmos is a decentralized, scalable, interoperable ecosystem of interconnected independent blockchains running on the Tendermint Core protocol. It is based on the Byzantine Fault Tolerant (BFT) consensus mechanism, which is used to scale public PoS blockchains.
In 2014, an unknown blockchain developer Jae Kwon founded Tendermint, which in turn introduced the high-tech Tendermint Core protocol. In 2017, the Tendermint team announced the launch of the Cosmos project, designed to solve the key problems of many blockchains:
- Lack of scaling.
- The complexity of developing decentralized applications.
- Inability to make payments from one network to another.
The solution to these problems is Cosmos. With it, you can write smart contracts in two clicks, develop scalable decentralized applications, make cross-chain payments (for example, from Cosmos to Ethereum) in real-time and with minimal fees.
Overall, Cosmos is a whole ecosystem capable of connecting different blockchain networks. In simple terms, there is the Cosmos Hub platform where ETH holders can interact with NEO holders through smart contracts and payments.
How does Cosmos achieve interoperability of blockchain networks if they run on different algorithms? Tendermint Core comes to the rescue in the role of the so-called "equalizer" or the "next generation crypto-exchange". However, there is one nuance: Cosmos only works with blockchain networks that use smart contracts (e.g. Ethereum, NEO, QTUM).
Despite this, in 2017 the Tendermint team was able to raise $17 million in investments in just 28 minutes. After the token sale, investors received 168 million ATOM tokens.
What Is ATOM Coin?
As in other blockchain projects, ATOM is a native token of the platform, with which you can make payments and participate in the development of the project through voting.
The Tendermint protocol runs on the DPoS (Delegated proof-of-stake) algorithm, which is an alternative and golden mean between all known PoW and PoS. One hundred validators are responsible for processing transactions and maintaining the work of Cosmos, who store the largest number of ATOMs in their wallets. If a validator is found to be cheating, its ATOMs will be burned. It makes no sense for ordinary investors to become a validator since 0.5-0.6% per month of the total amount of stored ATOMs is charged for this. That is, validators earn about 6% per year.
ATOM Coin Price
During the token sale, ATOM crypto cost was $0.1, and after the first listing on the Poloniex exchange, its price increased to $6.48 hours after the start of trading, the ATOM price climbed to $8.30. Such rapid growth was caused by the excitement around the new project and earnings on the increase, nothing more.
Today Cosmos price is 33.3681 USD.
Cosmos Crypto Price Prediction
When studying Cosmos crypto price predictions 2021 from well-known crypto market analysts, you can find that experts point out that the fate of such young crypto projects will depend on the exchange rates of the largest coins such as Bitcoin and Ethereum. With the resumption of growth in the value of these coins, a new stage in the development of cryptocurrency technologies will begin by attracting users interested in making a profit when investing in digital currencies.
Is Cosmos A Good Investment?
The main advantages of the Cosmos project include:
- A high level of security when carrying out transactions and when storing free funds in the form of the Atom token.
- Ensuring fast execution and confirmation of financial transactions and transactions for converting crypto into other digital assets and fiat money.
- The use of new technical solutions that are responsible for improving the algorithm for the interaction of participants in the crypto network with the crypto platform.
- Provision of new advanced tools to expand the use of crypto coins in various economic areas.
The positive aspects of the Atom coin should ensure stable growth in the exchange rate quotes of this coin, which in the future will lead to an increase in interest in it from users and investors.
According to many crypto analysts, the cost can rise significantly and the coin is good for investment, however, it is worthwhile to exercise caution, since only time will tell the true value of Atom.
If you are interested in the Atom coin and want to invest in it, then you can buy it at StealthEX.
How To Buy Cosmos ATOM?
The process is secure and doesn't take much time, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, BTC to ATOM.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins.
And one more thing, StealthEX allows you not only to get coins fast but also to choose a floating or a fixed rate.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.