What Is ATOM
Cosmos is a project that has the main aim of creating a network of crypto networks, all of which can be combined through open-source tools that streamline the transactions between them.
Instead of focusing on a single network, Cosmos focuses on an ecosystem of networks, all of which have this ability to share data as well as token programmatically without any central party that facilitates the activity.
Every new independent blockchain created in Cosmos is known as a zone that is tethered to the Cosmos Hub. The Cosmos Hub maintains a record of the state of every zone.
This is where ATOM comes into the big picture, as The Cosmos Hub is essentially this proof-of-stake blockchain that is powered by the ATOM token.
Cosmos can be described in some cases as Blockchain 3.0, which has the goal of ensuring that its infrastructure is as straightforward to use as possible. The development kit it offers focuses on modularity as a result and allows the network to be easily built through the usage of chunks of code that are already in existence.
Stability is also one of the main priorities of this project, which means that more transactions can be processed in a second than blockchains built on older methods.
This is due to the fact that blockchains have the potential to, over time, have mainstream adoption, and when they do, they will need to be able to keep up with the demand alongside the existing payment processing a lot of companies or websites require.
COSMOS Founders
Developers known as Jae Kwon, Zarko Milosevicand Ethan Buchman are the co-founder of the Cosmos network, which they founded in 2014. The software was then released in 2019.
Then you also have the Interchain Foundation (ICF) that is a Swiss non-profit that funds open-source blockchain projects.
An interesting aspect about the creation of ATOM is the fact that the Interchain Foundation actually held a two-week ICO (Initial Coin Offering), which included the ATOM token in 2017. It managed to raise $16 million, and this founded the creation of what the Cosmos aims to achieve through its proof of stake algorithms implemented within the cosmos ecosystem.
Validator nodes that stake a higher quantity of ATOM tokens are more likely to be chosen to verify the transactions and earn rewards.
It is also important to note that 80% of the tokens were initially allocated to the investors while the remaining 20% were split across two companies, All in Bits and the Interchain Foundation.
Another noteworthy thing here is the fact that they are also the founders of Tendermint, which fills the role of a gateway to the ecosystem.
How Does Cosmos Work
The special native token called ATOM plays the main role when it comes to maintenance as well as interoperability throughout all of the zones in the decentralized network as well as the crypto market. It is used for staking, holding, sending and spending, and can be more valuable the more blockchains are built within this network, which is reliant on the Cosmos Hub when it comes to the maintenance of the transaction history. Note that they are all independent blockchains and can be aided by the native staking token, which acts as a voting mechanism, where users who have the token and start staking tokens can be involved in the future proposals of upgrades. It allows for inter-blockchain communication, similar to Ethereum's concept, but this works with Atoms staked which allows for the consensus protocols to work, without much computation required, all in a shared hub. There is also fee distribution.
In fact, through staking ATOM, any user can gain the ability to vote on potential upgrades, where each vote is proportional to the number of ATOM tokens they stake.
ATOM tokens are rewarded to validators based on how many tokens they are staking, with the delegators always getting a small percentage of the rewards.
The network has a total of three layers. The first layer is the application layer, which is responsible for processing transactions as well as updates on the state of the network. Then you have the networking layer, which allows for communication between transactions and blockchains. Then you have the consensus layer, which helps nodes agree on the current state of the system. The technology also implements a spam prevention mechanism, and a part of the Cosmos network consists of atom holders.
ATOM Circulation
Cosmos has an available supply of 275,296,578 and a total supply of ATOM coins alongside with $3.1B market cap and a $195.6M 24h trading volume. It currently has a circulating supply of 217,510,175.89 ATOM tokens.
There is a solid circulating supply and constant block rewards.
Where Can You Buy ATOM Crypto
If you want to buy, sell, or trade ATOM, you can do so on the following exchanges: Binance Futures, BitZ, Binance, OKEX, Etherbase, Huobi Global, and Coinbase Pro.
We've created a step by step guide on how to buy ATOM
