Cosmos is a techno-hub that consists of interconnected applications in an ever-expanding blockchain ecosystem. The applications on this ecosystem connect using Inter Blockchain Communications (IBC) protocol, which enables the exchange of data and digital assets online. It is the future of technology since it is decentralised and can host multiple services, including digital finance.
A Bit About Cosmos
Cosmos is a digital currency and a blockchain network that concentrates on solving problems in the cryptocurrency industry. It was developed by Jae Kwon and Ethan Buchman in 2014. It was later released in 2019 and has enhanced interoperability, independence, and scalability. It is commonly described as blockchain 3, and it runs on an asynchronous Byzantine fault to validate all the transactions. Here is more about the crypto and platform.
The open, scalable, and interconnected economy of the future.CryptoLists.com
ATOM is a Cosmos token that measures its value as a digital currency. It is a Cosmos security measure, which allows account holders to contribute to its strength. The system rewards account holders with freshly generated ATOM that pays from transaction fees. The locking process is staking. The more you lock up, the more you get as transaction fees. However, the amount generated as transaction fees relies on the transaction volume over time. If it is high, you get more, and vice versa. Through staking, you have the power to decide through voting on the future and performance of Cosmos and ATOM.
Utility of Cosmos?
Some of the top reasons making people invest in Cosmos include, but are not limited to:
The CSS Network is Designed for Scale
The CSS Network can handle up to 10,000 transactions per second. This is significantly higher than the capacity of Bitcoin (3-7 transactions per second) and Ethereum (15-20 transactions per second).
The CSS Network is More Secure Than Other Blockchain Platforms
Cosmos is more secure than other blockchain platforms because it uses the Tendermint algorithm and Byzantine Fault-Tolerance (BFT). These two combine to ensure that all transactions on this platform are valid.
CSS has an Extensive Team of Developers and Advisors
CSS started in 2014 and had its token sale in 2017. It is backed by a team with ample experience in the blockchain industry, and they have been developing since then.
The Cosmos Network Is More Decentralised Than Other Blockchain Projects
Through interoperability and three governance models, CSS has made it possible to achieve true decentralisation on its platform: proof of stake, proof of work, and hybrid.
Cosmos Provides a Platform for Businesses to Build Projects on Top of It
Businesses can create their blockchains on the platform provided by CSS without making separate changes to their algorithm or code. Because this involves programming, companies cannot quickly build applications on top of different blockchains. CSS makes it possible for them to do so without any significant changes.
The Cosmos Network Is More Flexible Than Other Blockchain Projects
CSS is more flexible than other blockchain projects because it allows businesses to create their blockchains on its platform and supports multiple consensus models. This gives businesses more options and the freedom to decide which they prefer most.
The Cosmos Network Can Be Used as a Public or Private Blockchain
The CSS platform can be used for public or private blockchains because of its flexibility and interoperability features. This is unlike other blockchain projects that are not open-source.
Cosmos Price detailsERC20 Contract address: 0x8D983cb9388EaC77af0474fA441C4815500Cb7BB
›› Details & Tokenomics
›› ATOM tokenomics and social media
Advantages of Cosmos+ Facilitates connection between different blockchains.
+ ATOM holders can stake their coins to generate interest over time.
+ Secure platform owing its safety to numerous blocks in the ecosystem.
+ The system is community-governed; every ATOM holder can vote.
Disadvantages- Inactivity might cost the account holder a fraction of their ATOM.
- ATOM staking delegation might not yield as many tokens as expected.
- -Regulation is still an issue since FIAT funds are exchanged to ATOM.
- Staking is speculative and doesn't guarantee returns on investment.
Costs▪ Rated at 10/10
Costing ATOM mainly comes in form of transaction fees, directly and indirectly. Direct costing is the deductible amount when you move ATOM from one wallet to another. The cost differs depending on the type of wallet used. Check out the actual transaction cost from your e-wallet.
The second costing is indirectly and is associated with the risks. When you are offline for a long time, Cosmos deducts 0.01% of the held ATOMs. In case of a double signing, there is a 5% slashing from your ATOM as a penalty charge.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
Cosmos setup makes it the “Internet of Blockchains” as it facilitates cryptocurrency and digital data exchange via blockchain. Thanks to interoperability, the blockchain has over 260 apps running where you can trade any crypto.
Its decentralised theme and capacity make it preferable to the current generation. Once you have an account, you can buy and sell ATOM and also benefit from other transactions through staking. There are no middlemen who squeeze out their margin, which makes trading expensive.
Its technical composition and operational efficiency make Cosmos a solid cryptocurrency. Interconnecting blockchains makes it universally acceptable within the decentralised finance (DeFi) circles. As much it grows its portfolio, it helps other cryptos grow equally. Cosmos boasts of over USD129 Billion worth of assets under its management.
What blockchain does Cosmos use?
Cosmos (CSS) uses the Tendermint algorithm, a proof of stake consensus algorithm. It uses BFT to allow different blockchains to communicate without any central authority. This makes it possible for other blockchain projects to use CSS as a platform to build their applications on top of it.
What is the highest price Cosmos ever reached?
It hit an all-time high of $44.70 per atom on 20 September 2021. It took a downward turn and hasn’t reached the numbers for some time now.
How does CSS price gain significance in the market?
So far, Cosmos has stood the test of time and earned the trust of its investors. This has made it hugely significant than the other cryptocurrencies.
Is Cosmos a good investment?
As per the price predictions and history, ATOM seems to be a great investment. The price may fluctuate occasionally, but it is a good deal.
How many transactions per second can Cosmos handle?
CSS can handle around 10,000 transactions every second.
Where can I find a list of all the validators on the Cosmos network?
When writing this post, there were 58 validators on the CSS network. You can find their list on the official Cosmos platform on the validators section. The list will be updated as more validators come on board.
What is the difference between CSS and other blockchain projects?
Cosmos is different from other blockchain projects because it allows businesses to create their blockchains on its platform and supports multiple consensus models. This gives businesses more options and the freedom to decide which they prefer most.
Screenshots from Cosmos
More sites where to buy/sell/trade CosmosBelow you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this coin. Click on the logo to read our review.
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Cosmos details and tokenomics
BSC Contract address: 0x0eb3a705fc54725037cc9e008bdede697f62f335
ATOM Contract address: 27394FB092D2ECCD56123C74F36E4C1F926001CEADA9CA97EA622B25F41E5E