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Cosmos Price (ATOM)

₹ 997.3300000000 1.56 %

Low : ₹ 911.2700 High : ₹ 949.3500

Market Cap

₹368.1 B

0.9649 %

All Time High : ₹3301.6100

All Time Low : ₹87.6100

Volume

₹20.21 B

Circulating Supply 390688000
Max Supply --

Cosmos (ATOM) Price Live Chart

Cosmos (ATOM)

The Cosmos Network is a decentralized network of blockchains that are independent, scalable, and interoperable, laying the groundwork for a new token economy.

Blockchains were previously segregated and unable to communicate with one another. They were difficult to construct and could only handle a limited number of transactions per second. Cosmos addresses some of the most difficult blockchain issues, including scalability, usability, and interoperability.

The Cosmos SDK is a developer-friendly, modular framework that is driven by a Byzantine Fault-Tolerant consensus algorithm like Tendermint BFT, allowing developers to fully customize their decentralized apps while focusing on business logic.

The ultimate goal is to build an Internet of Blockchains, a network of blockchains that can connect with one another in a decentralized manner. Blockchains can use Cosmos to maintain sovereignty, process transactions rapidly, and communicate with other blockchains in the ecosystem, making it ideal for a wide range of use cases.


Founders 

Jae Kwon, Zarko Milosevic, and Ethan Buchman co-founded Tendermint, the entryway to the Cosmos ecosystem. Despite the fact that Kwon is still identified as the lead architect, he stepped down as CEO in 2020. He insists that he is still a part of the project, but that he is mostly focused on other endeavors.

 Peng Zhong has taken over as CEO of Tendermint, and the whole board of directors has been completely restructured. Their goals include improving the development experience, fostering an enthusiastic Cosmos community, and developing instructional tools so that more people are aware of what this network is capable of.


What is Tendermint BFT and the ABCI

Tendermint BFT is a system that combines a blockchain's networking and consensus layers into a generic engine, allowing developers to focus on application development rather than the complex underlying protocol. 

Tendermint thereby saves hundreds of hours of development work. Tendermint is also the name of the byzantine fault tolerant (BFT) consensus algorithm employed by the Tendermint BFT engine. Check out this great podcast by Tendermint co-founder Ethan Buchman for more on the history of consensus procedures and BFT.

The Application Blockchain Interface (ABCI) socket protocol connects the Tendermint BFT engine to the application. This protocol can be wrapped in any programming language, allowing developers to select the language that best suits their needs.

Tendermint BFT is a cutting-edge blockchain engine with several significant features. It is intended to handle blockchain networking and consensus, allowing developers to construct both public and private blockchains on top of it. The validator list is defined by the application layer and might be based on token ownership (Proof-of-Stake) or limited to pre-authorized organizations (permission/private).

Tendermint BFT's strong performance is one of its most prominent characteristics. It has block times as low as one second and can handle thousands of transactions per second, making it ideal for applications that require fast transaction processing.

Another crucial characteristic is instant finality. Tendermint BFT, unlike Proof-of-Work blockchains like Bitcoin and Ethereum, provides rapid confirmation and finality for transactions. Forks are avoided as long as more than a third of the validators remain honest, guaranteeing that users can trust that their transactions are completed as soon as a block is created.

Tendermint BFT provides fault tolerance and responsibility in terms of security. It can withstand Byzantine faults, which means it is secure even if certain validators are evil. Furthermore, if a blockchain fork happens, a process is in place to establish liability, maintaining accountability inside the system.


Native Token 

The native token of the cosmos is ATOM. The Cosmos ecosystem's principal cryptocurrency and governance token is ATOM. It is utilized for staking, block validation, and network security via the proof-of-stake consensus method. ATOM holders can also engage in on-chain governance and decision-making procedures about the Cosmos network's future development and improvements.

  • Staking: ATOM holders can stake their tokens in order to participate in block validation and consensus, thereby contributing to network security and receiving additional ATOM rewards.

  • Governance: ATOM holders can participate in on-chain governance by proposing and voting on proposals that affect the Cosmos network's future, such as upgrades, parameter changes, and improvements.

  • Network Fees: ATOM is used to pay for transaction fees and services on the Cosmos network, allowing token transfers, interactions with smart contracts, and the use of decentralized apps (dApps).

  • Bonding and Relaying: ATOM coins are used to bond and relay transactions between the Cosmos network's interconnected blockchains, enabling interoperability and the transfer of assets and data across chains.


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Cosmos news

20 hours 34 minutes 44 seconds ago

Cosmos Interchain Foundation budgets $26M for ecosystem development in 2024

Switzerland-based Interchain Foundation (ICF), the core developer behind the cross-chain communications protocol Cosmos, will allocate $26.4 million for maintaining the said ecosystem next year.

Read More