Cosmos Price - ATOM Price in USD with Live Chart

What is Cosmos (ATOM)?

Cosmos is working on a blockchain named the "Internet of Blockchain," where any blockchain can communicate, share data, and transact with any other. Cosmos network aims to create an "Internet Of Blockchain." 

Cosmos platform does streamline transactions among the different blockchains like Bitcoin and Ethereum. Cosmos network based on a proof of stake blockchain among Byzantine Fault Tolerance.

Heralded as an "Internet of blockchains" by its founding team, Cosmos aims to create a network of crypto networks united by open-source tools for streamlining transactions between them. 

This focus on customizability and interoperability sets Cosmos apart from other projects. 

Rather than prioritizing its network, its goal is to foster an ecosystem of networks that can share data and tokens programmatically, with no significant party facilitating the activity. 

Each new independent blockchain created within Cosmos (called a "zone") is then tethered to the Cosmos Hub, which maintains a record of the state of each zone and vice versa. 

The Cosmos Hub, a proof-of-stake blockchain, is powered by its native ATOM cryptocurrency. Users seeking to stay connected on the current development status of Cosmos can follow its roadmap through the website. 

For more regular updates from the Cosmos team, you can bookmark the Cosmos blog, including tips and tutorials on the network and its evolving technology. 

 

Cosmos (ATOM) Price History

Since its ICO over 4.5 years ago, the ATOM token has seen incredible price growth. From the ICO price of $0.10 per token, ATOM reached a high of $46.68 (Binance) on September 24, representing a gain of more than 46,500%. If any investors took part in the ICO and kept their tokens, they are sitting on massive profits.

According to ATOM statistics, the total supply of tokens is 282,557,769, with 224,773,165.92 in circulation. ATOM’s current price is $26.40, giving it a market capitalization of $5,936,912,085 and ranking #37 on CoinMarketCap. ATOM’s peak price had a market capitalization of $10,492,411,385, so as you can see, ATOM is down approximately 44% from its peak.

 

Who created Cosmos?

The Interchain Foundation (ICF), a Swiss non-profit that funds open-source blockchain projects, is the organization that helped develop and launch Cosmos. 

Developers Jae Kwon and Ethan Buchman co-founded the Cosmos network in 2014, creating Tendermint, the consensus algorithm that would go on to power Cosmos. 

Kwon and Buchman later authored the Cosmos white paper and released its software in 2019. 

The Interchain Foundation held a two-week initial coin offering (ICO) of the ATOM token in 2017, at the time raising over $17 million. Tendermint Inc. raised $9 million to continue the development of the project through a Series A funding round in 2019.

 

How does Cosmos (ATOM) work?

Cosmos is a project that concentrates on creating a network of different blockchains that are interoperable. Founded in 2014 by Ethan Buchman and Jae Kwon, the Cosmos network consists of a Proof of Stake blockchain manner and customized blockchains known as Zones. 

The main chain, Cosmos Hub, transfers assets and data between the connected Zones and provides a shared layer of security. These all work together using Tendermint, Cosmos's custom consensus mechanism, and a general application interface. Fees in Cosmos are payable in the network's crypto ATOM.

The Cosmos network is split into three different layers:

1. Networking - Allows transaction confirmations and other consensus messages to communicate with hub blockchains.

2. Application - Updates the network on the new state of transactions and balances.

3. Consensus - Organizes nodes in how they agree on adding new transactions.

These three layers are combined through a collection of open-source tools and applications. For example, Tendermint packages the networking and consensus layers into a ready-to-use engine. Blockchain developers using Tendermint only need to focus on the application layer, saving them time and resources.

 

What is ATOM?

ATOM is Cosmos's native coin that has three primary use cases:

1. Users must pay their transaction fees using ATOM, proportional to the computational power required.

2. ATOM is also used to take part in Cosmos Hub's governance system. The more ATOM you hold, the more voting power you have in platform decisions.

3. The coin is staked behind validators for rewards in taking part in the consensus algorithm.

ATOM was distributed via an Initial Coin Offering (ICO), and it has no supply limit, making it an inflationary coin. This is due to Tendermint Core rewarding stakers with freshly minted ATOM. The inflation rate adjusts in real-time based on the amount staked and the number of stakers.

 

Why does ATOM have value?

The ATOM token plays a key role in maintaining interoperability between all zones in the wider Cosmos network and can be used for holding, spending, sending or staking. 

As such, ATOM may become more valuable the more other blockchains are built within the network, relying on the Cosmos Hub to maintain their transaction histories. 

By owning and staking ATOM, users gain the ability to vote on network upgrades, with each vote being proportional to the amount of ATOM they stake. 

Cosmos rewards validators with ATOM based on how many tokens they are staking, with the delegators receiving a small percentage of the reward.

Investors should note there is currently no limit on the supply of new ATOM that can be created. Rather, Cosmos adjusts the number of tokens created based on the number of ATOM being staked. As of 2020, this results in an annual inflation rate of anywhere between 7% and 20%.

 

Why use ATOM?

Users may find the Cosmos network appealing based on its focus on facilitating interoperability between blockchains. 

There are a variety of projects built on the Cosmos network. Some examples include a price-stable cryptocurrency and a decentralized finance (Defi) project allowing traders to leverage their assets. 

Investors may also seek to buy ATOM and add it to their portfolio should they believe developers will flock to frameworks that enable them to launch custom blockchains.

 

Benefits of Cosmos (ATOM)

Cosmos introduces a plethora of advantages to the market. For one, the platform is fully customizable. Developers can freely create and issue new blockchain applications and platforms with ease. Keenly, the Cosmos network functions without any central entity facilitating the activity.  In this manner, the network streamlines inter-blockchain transactions and provides developers the chance to share data and tokens programmatically.

 

How to Buy Cosmos (ATOM)

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