Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. ATOM is the native token of Cosmos, a decentralized network that provides open-source tools for developers to create their own interoperable blockchains. One of the biggest problems with blockchains is they are created independently and very few have the ability to transfer data between one another. Much like other meme coins, PolitiFi coins are often created on Ethereum or Solana, where the majority of meme coin volume tends to be.
Cosmos community
To develop the complete Cosmos interoperable ecosystem, Kwon was joined by Zarko Milosevic and Ethan Buchman; he subsequently stepped down from the project in 2020. Cosmos is described as “Blockchain 3.0” — and as we mentioned earlier, a big goal is ensuring that its infrastructure is straightforward to use. To this end, the Cosmos software development kit focuses on modularity. This allows a network to be easily built using chunks of code that already exist. Long-term, it’s hoped that complex applications will be straightforward to construct as a result.
Tendermint Byzantine Fault Tolerance (BFT)
However, it is still a volatile and high-risk industry, so don’t invest money you can’t afford to lose. Research ATOM, its competitors, and the cryptocurrency industry to ensure you understand the risks involved before you buy. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. However, there’s also a lot of uncertainty surrounding regulation in the industry right now.
ATOM Price Chart
At the moment, a blockchain tends to act as its own universe with almost no way to communicate with the world outside of its network–without third-party help anyway. During what is atom coin a crypto bull run in 2021, ATOM’s price surged to a peak of $29.44 in May. From there, ATOM’s price dropped briefly before spiking again to $43.22 in October 2021.
It is worth noting that these cryptocurrencies aren’t mined — instead, they are earned through staking. Scalability is another priority, meaning substantially more transactions can be processed a second than more old-fashioned https://www.tokenexus.com/ blockchains like Bitcoin and Ethereum. If blockchains are to ever achieve mainstream adoption, they’ll need to be able to cope with demand as well as existing payment processing companies or websites — or be even better.
What Is the ATOM Token?
- The current yearly supply inflation rate is 12.79% meaning 44.32M ATOM were created in the last year.
- Historically, ATOM’s traded price range was bound between US$1 to US$9.
- ATOMs can be traded on major exchanges such as Binance, Kraken, and Poloniex.
- The live Cosmos price today is $5.13 USD with a 24-hour trading volume of $85,539,782 USD.
- Past performance is not a guarantee or predictor of future performance.
- Cosmos is a network created with the purpose of connecting different blockchains together.
The gas fees are usually low and their minimum amount is set by validators in the network. ATOM seems to have a bright future, as many analysts believe it is a long term investment. However, we should mention that the project did have some issues last year as their founding team split.
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Should You (or Anyone) Buy Cosmos (ATOM)?
- Another issue to watch is that some of the tokens built on the Cosmos network — like BNB and CRO — earn fees in their own right.
- Many countries have allowed the use of cryptocurrency, but the legality status still varies between regions and countries.
- Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded.
- Holding ATOMs gives the holder the ability to stake and validate blocks, vote on governance issues, and pay for transaction fees.
- You should not construe any such information or other material as legal, tax, investment, financial, cybersecurity, or other advice.
- The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App.
- ATOM holders can also vote on proposals presented by the Cosmos Hub.