COSMOS $ATOM Review

COSMOS $ATOM

$900mil Market Cap

Volume: Hotbit, BitForex, MXC and Bilaxy report the most.
Liquidity: Coinone, MXC, Kraken and Binance report the most.
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Cosmos calls itself the “Internet of Blockchains” and challenges today’s hardest blockchain problems.

-Problem #1, Scalability: Tendermint BFT fixes this.

Tendermint BFT is a byzantine fault tolerant consensus engine that powers Cosmos Proof-of-Stake.

-Problem #2, Usability: Cosmos SDK fixes this.

Cosmos SDK is a modular framework for building interoperable, application-specific blockchains.

-Problem #3, Interoperability: IBC Protocol fixes this.

Interblockchain Communication (IBC) is a TCP/IP-like messaging protocol for blockchains.
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The initial coin offering (ICO) for the Cosmos was held in April 2017, ending up with more than USD 17 million collected as part of the fundraising effort. The total supply of ATOM is capped at 236 million ATOM. After the launch of the Cosmos MainNet on March 13

The Cosmos network has implemented two tokens:

$ATOM is the staking coin that is mainly used for governance. By staking ATOM, the zone validators can join the hubs.

Photons are the coins used for the payment of the transaction fees within the Cosmos platform ecosystem. As the zones can use their own tokens, the validators in the hubs can have their transaction fees paid in any token combination. Two percent of the fees are earmarked for the reserve pool, while the rest goes to the validators based on the size of their stake.
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Cosmos has developed its technology to attack these known issues head on.  The Tendermint BFT consensus allows for 10k TPS right out of the gate (VISA runs at about 6K TPS) and Cosmos was also created by the Tendermint Team.  The layered structure helps to support the frontend Cosmo SDK, which operates as the Applications Layer.

Tendermint Core is actually a low-level protocol which is actually composed of two protocols in one: a consensus algorithm and a peer-to-peer networking protocol.
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With the application and consensus layers operational Cosmos has come into 2020 flying.

-Coinbase, CEX.IO, and Eterbase Listings and Crypto.com Listing on Feb 11th
-Bluzelle and Kadena building on/with Cosmos and Tendermint
-Supported staking on Binance
-IBC Protocol development live
-Combined scaling solutions with MATIC and others.

Scaling solutions on Ethereum are not limited to one solution and there is a discussion about how Cosmos’ layer-1 approach could provide a combined solution to Ethereum’s scaling woes.  Using a compatible layer-1 solution with a layer-2 maybe just provide the scaling that Ethereum needs to more into the global spotlight.

Other opportunities have presented themselves at the recent WEF where Cosmos discussed building outside of Ethereum but still wanting to use the features of the Ethereum Virtual Machine (EVM).  Cosmos developed the SDK to not just allow this but encourage it through a seamless web 3.0 developer Chainsafe.  Over the Cosmos SDK and Ethermint module will allow the use of the EVM in almost any project building with Cosmos.
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The creation of Ethermint is already implemented on Aragon Chain.   Aragon Chain is being built by implementing existing Aragon smart contracts and associated components on Ethermint, which was also built by ChainSafe. The project will also include a bridge to Ethereum to enable data and value transfer between Aragon Chain and Aragon on Ethereum.
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There is lots of work left to be done but the stellar team behind this project has proven they are up to the challenge.  Few other blockchains have attempted to use Tindermint and Cosmos is certainly one of the leaders of this new blockchain era.

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