The goal of the Cosmos project is to create an “Internet blockchain,” a global, scalable ecosystem.
The altcoin appeared on the market in 2019, but its development began in 2017. The project’s roots go back to 2014 when Jae Kwon developed the Tendermint protocol.
The Cosmos project offers a technology that allows making direct payments between blockchains of various cryptocurrencies without the participation of exchanges. Thanks to Cosmos, the interaction between blockchains within a single ecosystem has become possible. The technology allows not only making payments between blockchains but also sharing any information and content between different blockchains within the platform.
The main goal of Ontology developers is to create a network that will unite the blockchain and the real economy. Unlike other projects of this kind, Ontology emphasizes digital identification and trust management.
The project has the following pros:
Support in the cryptocurrency community:
Almost all the top exchanges added altcoin to the listing. Moreover, it is supported by Zhao Changpeng from Binance and Fred Ehrsam from Coinbase.
According to most experts, the integration of various blockchains will not only solve many current problems of the cryptocurrency market but also make it truly global.
Popular services and applications already use cosmos (ATOM): Finance Chain, e-Money, IOV, IRISnet, Kava, Lino Networks, Terra, and many others.
Cosmos (ATOM) Features
Tendermint, the underlying Cosmos algorithm, is software designed to safely and consistently replicate applications across multiple devices. Tendermint consists of two main technical components: the consensus mechanism and the general application interface.
Some peculiarities of the algorithm:
- Provided survivability in a partially synchronous network.
- Safety threshold: ⅓ validators.
- Compatible with public/private networks.
- Instant completion: 1-3 seconds, depending on the number of validators.
- Prioritization of consistency.
- Consensus security.
The Cosmos Proof-of-Stake algorithm is delegated; it is organized in such a way that the stakers are divided into two groups: validators and delegates. Delegates have the task of deciding which validators will participate in the consensus; validators should be part of a consensus, validate transactions, and add new blocks to the chain.
Cosmos (ATOM) Price
At the ICO stage, ATOM cost about 10 cents. When Cosmos appeared on the market (March 14, 2019), its value was already $6. Two days later, the price jumped to $8.31. The growth was caused by a primary interest in a new technological altcoin but quickly declined. On March 18, the rate dropped to $5, and after a couple of days, it lost another 20%.
At the time of the writing (May 30, 2019), Cosmos cryptocurrency is on the 16th place in the CoinMarketCap rating with a market capitalization of $1.099.39.310, and 1 ATOM costs $5.77.
Regarding the recent news, the holders of the Cosmos (ATOM) tokens at Poloniex will be able to earn rewards for the asset staking automatically. The exchange will add the following feature this summer.
Cosmos is a future network of interoperable blockchains, which is aimed at solving current problems of the ecosystem, such as scalability and interaction of blockchains.
The Cosmos ecosystem is fully customizable, with its policies for each zone/hub, regulated by validators through governance procedures. Delegates also indirectly participate in the management procedure, choosing trusted validators, which encourages the latter to work stably.
What is more, the large community of the Cosmos project is actively involved in the development of the platform. Unfortunately, the Cosmos team does not have influential partners from the traditional economy, which could potentially become the primary users of the network.
The Cosmos platform offers a variety of wallets for its users; however, the Atomic Wallet is one of the best solutions.
The main features of the project:
- Atomic Wallet offers its users unique opportunities when working with Cosmos (ATOM): it is the safest, most reliable, transparent, and decentralized wallet.
- Atomic Swap Exchange - use the decentralized Atomic Swap Exchange to switch to cross-chain swaps, avoiding third-party risks.
- Security - thanks to innovative encryption, all users of the wallet can protect their assets from the encroachments of cyber fraudsters.
- Multi-Currency - Atomic Wallet currently supports over 300+ coins and tokens. This is the most convenient way to process all crypto-assets.
- Instant exchange via Changelly, ChangeNOW, and ShapeShift.