Cosmos (ATOM) – What is, definition and concept | 2022

Cosmos (ATOM) is a blockchain ecosystem that allows different blocks to scale and operate with each other in a decentralized way.

The world of cryptocurrencies is constantly evolving. From Ripple (XRP), with its networks based on honor and trust, to examples like Decentraland and its virtual reality. All of them with the same objective, to compete in a global, open and diversified market.

In this case, we are dealing with a platform that differs from others such as Ethereum in that it allows the interconnection between the different blocks. In this way, they can communicate with each other with standards that guarantee security.

Origin of Cosmos (ATOM)

Let’s see some relevant facts of the history of Cosmos (ATOM) in chronological order:

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  • In 2016, Jae Kwon wrote an article about Gnuclear and it was the idea that led him to carry out this project, which sought intercommunication between blocks.
  • In August 2017, the first (private) sale of its ATOM cryptocurrency took place.
  • Later that same year, its founder launched an initial cryptocurrency offering (ICO), with more than good results.
  • In September 2017 the ATOM token was launched.
  • In 2019, the COSMOS mainnet appeared, which allowed interconnection between the blocks mentioned above.
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Characteristics of Cosmos (ATOM)

Here are some of the most important features of Cosmos (ATOM).

  • It tries to solve problems related to scalability, sovereignty or usability, which usually affect this type of technology.
  • The process has three layers. The hubs (operations centers), which allow the blocks to be interconnected. Validators, which check whether transactions are valid. Finally, the delegators, who are the ones who select the validators.
  • SDK is a development kit whose job is to allow developers to create interconnected blockchains.
  • In order to connect the blocks, it uses an algorithm called Tendermint and the safe and simple intercommunication protocol is IBC.
  • Their system allows you to connect blockchains like Ethereum or Bitcoin, which are very different.
  • Cosmos Hub is the public shard chain for the native ATOM token.

Interesting data of the ATOM token

To finish, let’s see some interesting facts about your ATOM cryptocurrency.

  • Its main task is to provide the right environment for developers to perform their work optimally.
  • On the other hand, it provides security that protects against network attacks and spam.
  • The broadcast is unlimited and is decided on the network taking into account some basic guidelines.
  • ATOM holders can cast votes that will be proportional to the amount of cryptocurrency they hold.
  • Those who invested in the first sale, which was private, contributed $300,000 and received 11,809,947.91 cryptocurrencies.
  • The 2017 ICO raised $17 million.
  • An R&D fund was created that was financed with 10% of the initial ATOM allocation.
  • In May 2022, the price of its Cosmos (ATOM) token was 10.40 dollars (USD).
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