![]() ![]() ATOM rose towards its ATH in September last year as it poked the $44.8-level before reversing from the $43-resistance. ![]() Since its 2019 launch, the token had been finding fresher highs for over two years. ATOM's use case lies primarily in staking, governance, and paying transaction fees on its network.Īlthough people have questioned the network's true decentralization because of a few nodes validating the transactions, Cosmos has a relatively higher validator count when compared to peer Tendermint blockchains. The Cosmos Hub harnesses a Proof-of-Stake (PoS) consensus mechanism while using ATOM as its native cryptocurrency. Software developers Jae Kwon and Ethan Buchman co-founded the Cosmos network in 2014, while also creating Tendermint, the consensus algorithm that powers Cosmos.Īfter clinching around $18 Million via its multiple ICOs in 2017, its Mainnet finally went live in March 2019. Thus, the resultant innovations could induce a variety of use cases that could ultimately increase Cosmos's utility in the coming years. ![]() These functionalities solve a crucial problem of dependency or reliance on a traditional Layer 1 blockchain. With the advent of Cosmos, blockchains can maintain sovereignty, process transactions quickly, and communicate with other blockchains seamlessly. The end goal is to create a functional 'Internet of Blockchains.' This network of blockchains would be able to communicate with each other in a decentralized way. The vision of Cosmos is to simply make it easy for developers to build blockchains while breaking the barriers between blockchains by allowing them to transact with each other. The team behind this project had the vision to solve the shortcomings associated with siloed blockchains. The IBC (Interchain-Blockchain Communication) protocol connects these blockchains with their disruptive properties.įounded in 2014, Cosmos hub is an ecosystem of blockchains that can scale and interoperate with each other. Cosmos: An overview of the ecosystem and its potentialĬosmos is a rapidly expanding ecosystem of independent yet interconnected blockchains built using several application components. ![]()
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