What is Cosmos?
Cosmos is a decentralized network of independent blockchains that can communicate and work together. The goal of Cosmos is to reduce fragmentation in the blockchain space by creating an “Internet of Blockchains,” where different chains can seamlessly interact.
Source: cosmos.network
How does Cosmos work?
Cosmos operates using a set of open-source tools, including the Cosmos SDK and the Inter-Blockchain Communication (IBC) protocol. These tools allow developers to build custom, interoperable blockchains that can communicate within the Cosmos ecosystem. Cosmos uses a consensus mechanism called Tendermint Core, a Byzantine Fault-Tolerant (BFT) protocol that ensures security and fast transaction finality.
The token
Ticker: ATOM
Category: Interoperability and Scalability
Blockchain: Cosmos Hub
Protocol: Tendermint BFT (Proof-of-Stake)
Year of launch: 2019
The technology behind Cosmos
Cosmos is powered by several core technologies:
- Tendermint Core: A BFT consensus mechanism that ensures security and efficiency.
- Cosmos SDK: A modular framework that makes it easy for developers to build custom blockchains.
- Inter-Blockchain Communication (IBC): A protocol that enables secure and reliable communication between different blockchains.
The Cosmos ecosystem
The Cosmos ecosystem is constantly evolving and includes a wide variety of projects and services, such as:
- Osmosis: A decentralized exchange (DEX) built specifically for the Cosmos ecosystem.
- Terra: A blockchain focused on stablecoins and payment systems.
- Secret Network: A privacy-focused blockchain that supports confidential smart contracts.
This diversity of projects showcases the flexibility and interoperability of the Cosmos network.
Who founded Cosmos?
Cosmos was co-founded by Jae Kwon and Ethan Buchman. They developed the Tendermint consensus algorithm and founded the company Tendermint Inc. in 2014, later rebranded as Ignite. Their vision was to address the scalability and interoperability challenges faced by existing blockchains.
Price at this moment
24h ago
€4.06
The value of Cosmos 24 hours ago
24h highest price
€4.19
The highest value of Cosmos the last 24 hours
24h lowest price
€3.98
The lowest value of Cosmos the last 24 hours
24h difference
-€0.02883735
The value in which Cosmos has dropped or increased the last 24 hours
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official materials provided by the project via cosmos.network.
Before trading, make sure to read the general risk warning about crypto asset trading:
Cryptocurrencies, including Cosmos (ATOM), are volatile and involve risks. The value of ATOM can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.
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