Cosmos (ATOM) Price

A Brief History of Cosmos

Two brilliant minds, Jae Kwon and Ethan Buchman, conceived Cosmos. In 2016, Jae Kwon introduced the Cosmos concept, envisioning a network that would provide seamless interoperability among various blockchains. Tendermint, a leading consensus algorithm, was chosen to power this ambitious project.

In 2016, a white paper for Cosmos was published. The project’s native token Atom was initially offered through two private sales in January 2017 and a public sale in April 2017.

Fast forward to 2019, and the Cosmos Network became a reality. The launch of the Cosmos Hub on March 13th marked a significant milestone in blockchain technology. Built on the Tendermint's consensus algorithm, the Cosmos Hub serves as the nucleus of the Cosmos Network, enabling communication and collaboration between different blockchains.

The Cosmos project has garnered attention and support from major players in the cryptocurrency industry. Binance, the largest cryptocurrency exchange globally, announced the Binance Chain, utilizing Tendermint BFT and Cosmos SDK. This partnership further emphasizes the scalability and potential of the Cosmos Network.

The success of Cosmos can be attributed to its innovative approach to blockchain technology. By implementing Proof-of-Stake (PoS) crypto economics and the advanced Tendermint BFT consensus algorithm, Cosmos ensures secure and efficient transactions across interconnected blockchains.

The Cosmos ecosystem is powered by the Interchain Foundation (ICF), a Swiss non-profit foundation committed to the development and growth of Cosmos. The ICF provides grants and supports various projects that contribute to the advancement of the Cosmos Network.

The Cosmos price history is provided on the interactive chart above. Learn the lowest price and highest price paid for the Atom coin. Buy Cosmos with your local fiat currency or convert your Atom holdings into other cryptocurrencies – Changelly is well-known for being the most user-friendly cryptocurrency exchange service in the industry.

Key Features of Cosmos

At the heart of Cosmos is the Cosmos Hub, the first independent blockchain among many within the Cosmos Network. The Cosmos Hub enables the seamless interoperability of independent blockchains, allowing them to communicate and transact with each other. This groundbreaking feature is made possible through the Inter-Blockchain Communication (IBC) protocol.

The Cosmos blockchain technology also comes with the Cosmos SDK, a powerful software development kit that facilitates the creation of new blockchain products. The Cosmos software development kit provides developers with the tools and resources necessary to build robust and scalable decentralized applications.

What Problem Cosmos Solves

The Cosmos platform is a decentralized network of independent parallel blockchains called zones, each of which is powered by classical Byzantine fault-tolerant (BFT) consensus protocols like Tendermint.

Cosmos can be described as an ecosystem of blockchains that are easily scalable and interoperable with each other.

Before the creation of Cosmos, blockchain systems were isolated and lacked communication capabilities. They had limited transaction processing capacities and were challenging to construct. By introducing a novel technical approach, Cosmos addresses the interoperability issues that plague the blockchain industry.

Cosmos aims to simplify blockchain development by enabling developers to easily create blockchains and connect them. The ultimate objective is to establish an interconnected network of blockchains called the Internet of Blockchains, where they can interact with each other in a decentralized manner. Cosmos provides several open-source tools to achieve this vision.

• Tendermint. This is a tool that facilitates the creation of secure and scalable blockchains. It offers a consensus mechanism for validating transactions and maintaining the integrity of the blockchain network.

• Cosmos SDK. This is an open source framework meant to enable developers to build custom blockchain applications. The Cosmos software developer kit provides a set of modular components and tools for creating secure and scalable blockchains with customized features.

• IBC (Inter-Blockchain Communication). This is a protocol designed by Cosmos to enable interoperability between different blockchains. This Cosmos protocol allows blockchains to securely and efficiently communicate and transact with each other, overcoming the limitations of isolated blockchains.

By utilizing the Tendermint consensus algorithm, the Cosmos SDK, and Inter-blockchain communications, developers can quickly build blockchain applications that are customizable, secure, scalable, and interoperable, catering to a wide range of use cases.

Atom Token

The Cosmos platform has many cryptocurrencies because it is an ecosystem of sovereign blockchains, where each blockchain is allowed to have an arbitrary number of tokens. However, the Cosmos Hub, one of the first blockchains to be launched in the Cosmos Network, is powered by the native token Atom.

The Atom coin acts as a spam-prevention mechanism by being used to pay transaction fees. The fees are determined based on the computation required, similar to Ethereum's "gas fees" concept.

Additionally, Atom tokens can be staked as tokens to earn block rewards, contributing to the economic security of the Cosmos Hub. The more Atom coins staked, the higher the network's resistance to attacks.

Lastly, Atom holders have the power to govern the Cosmos Hub by participating in voting on proposals using their staked tokens.

Atom's total supply is infinite to help with the networks' reward structure. The current supply of Atom (Cosmos) coins exceeds 285 million coins.

The latest data on the Cosmos Hub price is reflected on the chart above. Access the most recent Atom price statistics, such as the current market cap, recent trading volume, and more. Buy Cosmos coins with fiat money or exchange the Cosmos cryptocurrency for other digital assets through Changelly.

Atom Staking

Staking on Cosmos involves temporarily locking up your Atom, preventing you from sending or swapping it. However, you can un-stake your Atom at any time. This process supports the network and enhances its stability, while also enabling you to earn Atom rewards.

When you stake Atom (the native cryptocurrency of the Cosmos blockchain), you are pledging a certain amount to a validator, which makes you a delegator. Validators check and verify transactions on the Cosmos blockchain.

By delegating your tokens to a validator, you are effectively voting for and expressing your trust in them. The more Atom coins delegated to a validator, the more transactions they have the opportunity to validate.

Validators earn rewards based on the number of transactions they validate. They distribute a portion of these rewards to all the individuals who have delegated their Atom to them. This is how you earn rewards on your staked Atom holdings.

How Does Cosmos Work?

The Cosmos network consists of a three-layered structure. These layers are known as the application, networking, and consensus layers.

Consensus Layer

The consensus layer ensures agreement among validators on the state of the network. It uses a consensus algorithm called Tendermint, a core contributor to the network that allows validators to cooperate in a Byzantine Fault Tolerant (BFT) manner. This layer secures the network and maintains the integrity of transactions by ensuring that participants come to a consensus on the order and validity of blocks.

Networking Layer

The networking layer facilitates communication and data exchange between different nodes in the Cosmos network. It provides the infrastructure for nodes to connect and share information, enabling efficient communication between validators, relayers, and other network participants. This layer ensures that information flows smoothly across the network and enables the seamless transfer of data.

Application Layer

The application layer processes transactions. It encompasses various decentralized applications (dApps) built on top of the Cosmos blockchain. This layer enables the development and deployment of smart contracts and other decentralized applications that leverage the underlying blockchain infrastructure. It provides the necessary tools and functionalities for developers and users to interact with the network and perform transactions securely and efficiently.

Hubs and Zones

Cosmos is a blockchain platform that uses “Hub & Spoke” architecture. In this architecture, Hubs act as routers for application-specific blockchains called "Zones." Hubs can be connected to other Hubs, forming a network known as the Cosmos Network or the 'Internet of the Blockchains.' It's important to note that anyone can create a Hub or a Zone in the Cosmos ecosystem, and each blockchain has the freedom to decide whether to connect or not with other blockchains.

To achieve interoperability, Zones only need to establish a connection with a Hub. This single connection allows them to communicate with all the other Zones connected to that Hub. The Cosmos Hub was one of the first Hubs launched on the Cosmos Network. It functions as a go-between for all the unique blockchains that have been formed within the Cosmos network, known as "zones." Anyone is welcome to use the Cosmos Hub's codebase to create and launch their own Hubs in the network.

How Do the Tendermint, the Cosmos Network, and the Cosmos Hub Differ?

Tendermint is a versatile system that ensures the security of distributed ledgers and blockchain networks by providing a fault-tolerant mechanism. It allows developers to build blockchains without starting from scratch.

The Cosmos Network is a collection of diverse blockchains that are interconnected through the Cosmos Hub, acting as a router. They communicate using a standard protocol called Inter Blockchain Communication (IBC).

The Cosmos Hub, one of the initial blockchains in the Cosmos Network, serves as a routing platform for token transactions among future Cosmos blockchains. It maintains the state of all connected blockchains to ensure security and prevent double spending.

Benefits and Use Cases of Cosmos (Atom)

The Cosmos blockchain offers unique advantages over other projects. It provides flexibility and simplicity for application developers, allowing them to easily create and deploy their own chains. With Cosmos, you have full sovereignty over your own chain, giving you the freedom to govern it according to your specific needs.

Interoperability is a key feature of the Cosmos project. It enables different blockchains to communicate and exchange information seamlessly, fostering collaboration and expanding possibilities. This interoperability opens up a wide range of use cases for Cosmos:

Decentralized Exchanges (DEXs)

Cosmos allows for the creation of DEXs that facilitate peer-to-peer trading of digital assets, promoting a more secure and efficient trading environment.

Decentralized Economies

With Cosmos, you can build decentralized economies where participants can engage in secure and transparent transactions, creating new economic models and empowering individuals.

Open Marketplaces

Cosmos enables the creation of open marketplaces where users can buy and sell goods and services directly, eliminating intermediaries and reducing costs.

Other Use Cases

Cosmos (Atom) is also suitable for applications such as decentralized content platforms, private networks, and more. Its flexibility allows for diverse applications to be developed on its blockchain.

Cosmos Ecosystem

Cosmos SDK is the world's most used framework for building blockchains and decentralized solutions. Here are some examples of the projects built on top of the Cosmos blockchain.

• Kava: a decentralized lending platform on Cosmos, allowing users to collateralize their digital assets and borrow other assets.

• Akash Network: a decentralized cloud computing marketplace, leveraging the Cosmos network to provide a more efficient and cost-effective cloud infrastructure.

• Band Protocol: a decentralized oracle network that connects smart contracts with real-world data, enabling applications to securely and reliably obtain external information.

• Secret Network: a privacy-focused blockchain network built on Cosmos, enabling secure and private computation of decentralized applications.

• Persistence: a blockchain platform focused on tokenizing real-world assets, enabling the issuance and trading cryptocurrencies that are linked to physical assets.

Live Cosmos Price and Comprehensive Atom Market Statistics

Changelly offers an interactive Atom price chart that shows the latest-data market statistics of the Cosmos cryptocurrency. Our Atom price chart allows users to track and analyze the historical and current market trends of the Cosmos coin.

By displaying real-time Atom USD price data, 24-hour trading volume, current market capitalization (market cap), recent price change, current circulating supply, and other vital figures, users can make well-informed decisions regarding their Cosmos crypto investments.

Apart from viewing the exhaustive Atom price statistics, you can also read our Cosmos Atom price prediction. The Cosmos price prediction is based on fundamental and technical analysis and suggests a potential growth of the digital asset in the coming years.

However, our prediction of the Cosmos price is not guaranteed because the cryptocurrency market is highly volatile, and the Atoms price may fluctuate drastically. Be cautious every time you decide to buy, sell, or trade Cosmos coins or other crypto assets. Follow Cosmos (Atom) news and do your own research to decide if the Atom cryptocurrency is a good investment for you.