Market Cap: $182 659 749 556 (0.59%)
  • Volume 24h: $42 813 182 443 (23.44%)
  • Market Cap Change 24h: 0.59%
  • BTC dominance: 53.60%

Cosmos ATOM

Project that strives to create the “Internet of the blockchain”

Cosmos provides solutions for the most relevant problems of the blockchain: scalability and interaction.

CMC Rank: 16
  • USD: $4.09
    1h: 0.8% 24h: 5.26% 7d: 4.28%
  • BTC: 0.00074 BTC
All Time High: $14.83 1 month ago
Current price is -72 % from ATH
  • Cap: $966 092 840
  • Vol 24h: $53 518 825 (5.54 %)
  • Circulating: 236 198 959 ATOM

Cosmos Price Chart

About Cosmos

Cosmos platform is a network of separate blockchains connected together. All of them are built on the BFT consensus algorithms such as Tendermint consensus.
The platform is focused on the compatibility with other blockchain networks. The project’s network cooperates with other cryptocurrencies and applications, while its competitors’ networks can’t reach this option.
Lots of the projects in the digital industry are trying to strengthen their positions and take the leadership in their sectors. But it is very hard for every single object to interact with each other with such a large number of different projects. Today, Ethereum, for example, can not interact with other top cryptos. This leads to the situation of blockchain isolation.
If the blockchain platforms were connected and could work together as entire ecosystem, it would open a whole world of new opportunities for business and blockchain sector. Some of these opportunities would provide us with the cross-chains of smart contracts and free crypto exchange avoiding exchange markets. Moreover, we can’t even think about the state where different sectors maintaining real economy can’t interact at all. The idea of Cosmos is to overcome this problem.
So the project is absolutely unique because it is working to create the “Internet of the blockchain”. By analogy with the TCP/IP protocols providing the Internet compatibility, Cosmos aims at creating the standard for the blockchain platforms connection.
The basis of the Cosmos platform structure is the system of autonomous units called “zones”. These units are connected to the main blockchain Hub. The “zones” are created on the basis of Tendermint protocol and Cosmos standard and they can be created using any programming language.
The creation of the “zone” is similar to the creation of ERC20 token. The main task of “zones” is to maintain the interaction between Cosmos and other networks. “Zones” are very universal, so they can be connected not only to other blockchain platforms, but also to the central Cosmos Hub. The system of “zones” is the main strength of Cosmos. It makes the main contribution in its ability to interact.
Cosmos provides the greater scalability for blockchains network through creation of new “zones” and moving some transactions to other ones.
Cosmos platform has a number of innovative solutions to reach its goals of interaction.
The structure of Cosmos Network is built on Tendermint consensus protocol ABCI interface used for applications creation. Tendermint, in turn, uses the Practical Byzantine Fault Tolerance (PBFT) algorithm that provides security and scalability. The idea of PBFT is that the fixed number of trusted participants sign the transactions before these transactions get to the network. PBTF makes the system work properly even if one-third of it is damaged or corrupted. This algorithm is able to resist such attacks as “long-range-nothing-at-stake double spendings” and be censorship resistant.
The components of Cosmos Network include:
-Tendermint. Software used for safe and consistent applications replication on different devices. Tendermint consists of two technical components: consensus mechanism and general applications interface;
-Tendermint core. General consensus mechanism based on PBTF protocol used to create applications in any programming language;
-Application Blockchain Interface (ABCI). Apps interface providing transactions in any programming language;
-Inter-Blockchain Communication (IBC). Technology providing the interaction between different blockchains. IBC makes blockchain to work as a client for other structures;
-Cosmos Network. The structure of blockchains connected together;
-Cosmos Hub. The core blockchain of the platform working on Tendermint protocol;
-ATOM. The main Cosmos Network token providing all the functions of the local currency;
-Photon. Cosmos Hub commission token. Native token of Ethermint Network;
-Ethermint. Ethereum Network implementation build over the Tendermint protocol with the help of hard spoon of the current Ethereum Network status;
-Gaia. Test Cosmos Network.
And now more details about the platform’s tokens. The ATOM token is a native Cosmos Hub token. It is used for participation in network consensus protocol. This token provides its holders with ability to vote, validate and delegate and has other important functions. ATOM token was also used as the mean of commission payment right after the launch of the Cosmos platform as it was the first and the only token at that moment. Then, the Photon token was planned to be issued. This token is used for the commission payments. Photon tokens will be distributed with the help of airdrops between the ATOM and Ethereum holders during the Ethermint launch. The platform has a complex system of stimulation and penalties that encourage network participants to use tokens and act within the platform.
Cosmos project is located in Switzerland and has multinational team of experienced specialists including its founders from USA and Canada. The project has massive community around the world.
The project’s ICO ended in April 2017 and Cosmos raised about $17 million.

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