Cosmos Hub (ATOM) Live Price

What Is Cosmos (ATOM)?

Cosmos touts itself as the next evolution in providing streamlined solutions for blockchain’s most complex problems. It positions itself as a revolutionary answer to the proof-of-work protocols that are not environmentally sustainable, are expensive, slow, and offer no scalability, which Bitcoin typically uses. Cosmos aims to provide unprecedented capabilities in an attempt to offer blockchain systems a more connected and scalable ecosystem.  

The company has further objectives to seamlessly declutter the technologies associated with blockchain in the hope to offer developers a simpler environment. It does that owing to the modular framework that has the capability to breakdown or unshroud decentralized apps and networks. 

ATOM price

In an ICO (initial coin offering) in 2017, Cosmos was able to generate $16 million in capital. Approximately $3.2 million from the fund was routed to the development team and founders of the coin while the rest of the capital was sent to all the stakeholders and investors involved.

In line with the company’s protocols, the rate attracts volatility based on the volume of the money staked at any one period of time. In principle, staking isn’t that different to investing – in the blockchain world, staking is the equivalent to earning a ROI on your investment.

ATOM users can stake their crypto by bounding them to a smart contract for an indefinite timeframe and earn returns or rewards. Similar to how a savings account can generate returns based on the rate of interest, by staking, users earn rewards by keeping the blockchain network secure.

ATOM’s price in 2019 and 2020 ranged from $2 to $8. In 2021, however, demand for the coin started to peak, which helped the price of the coin to quickly rise to $29.44. In September 2021, ATOM stood at a $44.54 price point.   

A Brief History of Cosmos

Cosmos started in 2014, right around when a major contributor to the company, Tendermint was also founded. Two years later, Cosmos published a white paper and organized a token sale. The whitepaper was written by the cofounders of the company Ethan Buchman and Jaw Kwon. ATOM is Cosmos’ native token and was launched after two private sales, conducted in 2017. The company also conducted a public sale in the same year.

Jae Kwon was the project’s lead architect and CEO and resigned his position in 2020. The new CEO of the company is Peng Zhong. In the leadership of Zhong, Cosmos then introduced their IBC protocol (inter-blockchain communications) in 2021, which is the company’s standard interoperability platform.

What Makes Cosmos Unique?

One of the primary problems faced by many in the blockchain industry is the growing fragmentation in several networks. Although there a slew of fragmentations in the blockchain ecosystem, there are less than a handful of networks that can establish effective communication with one another. Cosmos is unique in the sense that they’re tyring to increase the level of communication and fragmentations in all major blockchain networks.

Cosmos is also referred to as Blockchain 3.0 – and one of the major objectives is to make sure that the blockchain infrastructure is simpler to access and use. To achieve this goal, the company focuses on developing and introducing modularity. This allows developers to build networks utilizing blocks of code that currently exist.

Another primary objective of the company is providing high levels of scalability. This means processing a larger volume of transactions every second, especially on blockchain networks such as Ethereum and Bitcoin.  If they succeed, it could help users quickly adapt to abrupt changes in demand and supply while maintaining streamlined transaction processing on websites or through other companies.

How Is the Cosmos Network Secured?

Cosmos employs consensus driven proof-of-stake algorithm. ATOM tokens that are staked at increasing quantities by validator nodes are in a more powerful position to be selected to verify blockchain payments and transactions incurring a reward.

Nodes that are found to be illegally staking ATOM coins will be blocked and their coins will be withheld from them.

Where Can You Buy Cosmos (ATOM)?

ATOM coins can be purchased from a variety of reputed and popular crypto exchanges such as Binance, OKEx, and Coinbase. You will also be able pair or trade fiat currencies against ATOM. For more information on how you can convert your ATOM coins into USD or Euro, click here.