Cosmos Hub ATOM
If you want to make a successful income from coins, you need to study all the information in detail and find out which coins have the most potential. In this article you will find information about ATOM cryptocurrency, its system and the benefits it has to offer.
What is Cosmos (ATOM)?
Cosmos is a decentralized ecosystem consisting of countless independent networks based on the Byzantine fault tolerance protocol.
The main goal of the project is to solve the "toughest problems" in the blockchain industry. With a connected blockchain ecosystem, it presents itself as a healthier alternative to "slow, expensive, unscalable and environmentally harmful" proof-of-work protocols.
Cosmos aims to make blockchain technology simpler and easier for developers to implement through a modular structure. The blockchain communication protocol makes it easier for blockchain networks to communicate with each other and prevent further industry fragmentation.
ATOM tokens are Cosmos' native currency, which is earned through a hybrid betting confirmation algorithm and plays a role in managing the network.
Who created Cosmos?
Cosmos' origins date back to 2014, when Jae Kwon, Zarko Milosevic and Ethan Buchman founded Tendermint, a major member of the network. However, the first token sale did not take place until 2017.
Although Jae Kwon stepped down as CEO in 2020, he is still listed as chief architect and involved in the project. Tendermint's CEO position is now held by Peng Zhong. Cosmos developers are now focused on building a community of enthusiasts and educational resources that could make the network even more popular and recognizable.
What's special about Cosmos?
As mentioned earlier, the main goal of Cosmos is to ensure that its infrastructure is easy to use. Its focus on modularity makes it easy to build a network using existing code snippets, which in the long run will help build even complex applications with ease.
In addition, Cosmos offers a completely different amount of scalability - it can process significantly more transactions in a second than the old-fashioned Bitcoin and Ethereum blockchains.
How many Cosmos coins (ATOM) are in circulation?
ATOM has a very unusual total supply: exactly 260,906,513. In addition, it cannot be mined, but can be obtained via steaking.
A public sale was held in April 2017 that raised a total of $16 million (about $0.10 per ATOM). In doing so, about 80% was allocated to investors and the remaining 20% was split between the two companies: All In Bits and the Interchain Foundation.
How is the Cosmos network secured?
Cosmos uses a consensus algorithm with proof-of-stake ownership. Validator nodes with the most tokens are selected to verify transactions and receive rewards, and there are penalties for those who act dishonestly in the form of forfeiture of tokens
Where can I buy Cosmos (ATOM)?
Cosmos is available on many major exchanges including Binance, Coinbase and OKEx. Trading pairs with several fiat currencies can also be found for it.