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Cosmos (ATOM) explained - present and future of the Cosmos network

 


What is Cosmos?

Cosmos is a blockchain protocol that aims to enable the decentralized exchange of data without a third party in the form of a trading platform or exchange. The major goal of the modern blockchain protocol is interoperability . It is intended to be a way of making different blockchain projects work over the same protocol.


Cosmos wants to run blockchains side by side via a parallel circuit. The protocol wants to prevent the different technologies of the different blockchains from getting in each other's way. So-called “zones” are created from blockchains. Due to its interoperability, Cosmos can also be the basis for new blockchain projects.


What is the problem that Cosmos wants to solve?

There are different blockchain projects in the crypto market, all of which have a different use case and often a different technique. These projects work in parallel to each other. But there is hardly any exchange of information among these blockchains. This misses a massive opportunity for collaboration between different blockchains.


Cosmos wants to increase the interoperability among the different blockchains and thus create connections so that the different blockchains can communicate and exchange information with each other. This is how an “Internet of Blockchains” is to be created. In addition, Cosmos wants to prevent the blockchains from colliding with each other due to different technologies.


Another blockchain that aims to make blockchains interoperable is Polkadot. In this article you will learn more about this network.  


How does the technology work at Cosmos?

Technically, Cosmos sees itself primarily as a network that is made up of different blockchains. This collection of blockchains are referred to by the developers as so-called "zones". The first of these zones is called the Cosmos Hub. This represented a contact point where the blockchains can dock. 


The network works with the Proof-of-Stake consensus mechanism , which enables fast and efficient transactions. The Cosmos Hub can be expanded with additional zones. Communication with the individual zones takes place via an "inter-blockchain" protocol. This allows cryptocurrencies to be transferred between individual zones.


Due to its interoperability, which Cosmos wants to establish, the network can also be a basis for new blockchain projects in the future. In this way, users can create new blockchains from individual building blocks in the network and, thanks to Cosmos, can connect them to other blockchains.


What is the ATOM token?

The ATOM token is the Cosmos network token. He is responsible for enabling users to delegate and validate within the network. It also allows charging fees, for example to prevent spam in the network. The ATOM token was issued by the development team in 2017. In the process, Cosmos sold 168 million tokens worth $17 million in just about 30 minutes.


With the ATOM token, the owners of the cryptocurrency have the opportunity to vote on changes in the Cosmos blockchain. The weight of the vote depends on the amount of tokens owned in ATOM. However, you have to be among the top 100 assessors to be able to vote as a validator. However, smaller investors can delegate and assign votes to the large validators.


How has the ATOM token moved over the past few months?

The ATOM token experienced 2 big price peaks in September 2021 and January 2022 in the last 12 months. This made ATOM one of the few cryptocurrencies to experience a price high again in January. However, the price also fell sharply in the following months. The ATOM fell from $43 to as low as $6 in June 2022. ATOM thus lost over 80% of its value. 

Interoperable blockchain networks such as Polkadot and Cosmos are said to have enormous potential for the future. They can connect different blockchains and enable data exchange between blockchains. This results in a regular exchange of data and transactions within a large network. 


Cosmos

The vision of an "Internet of Blockchains" helps to bring the advantages of Cosmos closer to investors. Cosmos sets itself apart from Polkadot in that the network has a modular structure and offers a modular system for blockchain developers.


How high can the ATOM rise in the future?

Due to the goal of interoperability and the technically excellent design of its network, Cosmos has enormous potential for the future. For now, however, it's still overshadowed by Polkadot in terms of interoperability. But the future should also be extremely bright for Cosmos if the idea of ​​an interoperable network of blockchains gains momentum in the future. 


In this case, the ATOM price should also rise again in the future. In the last few months, the ATOM lost massively in value, which was mainly due to the onset of the bear market. But in the medium to long term, the ATOM could rise massively again. Furthermore, ATOM has the potential to move towards the top 10 cryptocurrencies by market cap in the future.


Where can I purchase the ATOM from Cosmos?

Cosmos (ATOM) is easy and safe to purchase on most major crypto exchanges. You can buy the ATOM token from Cosmos on the following major trading platforms and benefit from possible gains in value in the future:

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