Cryptocurrency Cosmos Rises More Than 15% In 24 Hours

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. The Cosmos developers describe the existing Proof-of-Work protocols as slow, pricey, harmful to the environment and lacking in the scalability potential. In the case of Bitcoin, for example, the rise in the number of transactions has arguably led to a pronounced decrease in the performance speed of the entire platform. BTCS has deployed its own node which is generating revenue by validating transactions on the Cosmos blockchain.

Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Cosmos jumped 25% Monday night as the protocol’s ATOM token approaches its all-time high set earlier this year in May. Besides educating developers on Cosmos, Tendermint is focusing on leading projects like Gravity DEX and Emeris. During 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.

Atom Price And Market Stats

Of these, at the time of writing, about 203,121,910 were in circulation. It is worth noting that these cryptocurrencies aren’t mined — instead, they are earned through staking. The co-founders of Tendermint — the gateway to the Cosmos ecosystem cosmos crypto — were Jae Kwon, Zarko Milosevic and Ethan Buchman. Although Kwon is still listed as principal architect, he stepped down as CEO in 2020. He maintains he is still a part of the project but is mainly focusing on other initiatives.

Lately, Cosmos has seen an improved interest from investors as it is in the middle of a $1 million event called HackAtom, which aims to build the Cosmos community. In the last 24 hours, Cosmos coin ATOM has jumped about 9.2%, and since its last lowest level that it hit on Thursday, the coin has surged about 26.2%. Cosmos has been rising since its launch as an inter-blockchain communicator, which is used to enable the communication and transfer of digital assets across different blockchains. In July, the Gravity decentralized exchange launched on Cosmos Hub, bringing cross-chain decentralized finance to the Cosmos ecosystem. Gravity DEX enables permissionless swaps and pools of digital assets between any two blockchains in the Cosmos ecosystem. Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Cosmos Atom Nearly Reclaims Crucial Resistance Level

With the help of the Peg Zone, for example, the user can use any token on the Cosmos and have it sent to the Ethereum chain. With its SDK, the Cosmos platform aims to offer a developer-friendly and customizable solution for blockchain building in which the design compromises would be limited to a minimum. Blockchain usability and sovereignty are additional weak points which are targeted by Cosmos. ATOM was sitting at oversold levels by the time its rebound kicked-in. Meanwhile, Cosmos’s long-term prospects allowed traders to push the underbought token higher. This could allow for faster decentralized blockchain use if the project can keep going. Conversely, if an invalid state transition occurs on the Relay Chain and is not picked up by the Fishermen, this could affect every parachain in the Polkadot Network.

Cosmos Price is heading lower after being rejected from the supply zone currently. ATOM token at the monthly chart is placed above vital DMA lines of 200-day and fails to hold its SMA of 20 and 50-day lines. Volume at the monthly chart needs to grow strongly for the to maintain under the bullish chart pattern. Once the coin retains its vital moving averages, the supportive volume activity will boost more buyers in upcoming sessions. Support on the lower side is $25.40 and $21.20, whereas resistance on the higher side is $37.90 and $43.60. Recently, the company announced that 1000+ developers have already registered for the biggest HackAtom in Cosmos history, which also added to the value of ATOM/USD.

Cosmos Atom

If we wanted to represent Ethereum on Verge, we could lock up ETH and mint some ETH-XVG tokens on the Verge blockchain. However, due to low security, an attacker could 51% attack the Verge chain and send a double spend to the Ethereum blockchain, allowing the attacker to withdraw more ETH than he actually owns. Because of this, it is difficult for high-security chains to trust low-security chains when sending each other messages. This becomes even more complicated when messages are passed to multiple different chains of different security levels. Hubs are more efficient for connecting multiple chainsClosely related to membership is the difference in governance processes on the two networks. In the Polkadot Network, governance decisions are determined by the amount of DOTs voters have. There will be a formal mechanism for voting on-chain, but it has not been finalized and the latest updates are here.

Cosmos, which bills itself as the internet of blockchains, is a decentralized network of independent yet interoperable blockchains that are able to exchange information and tokens between each other permissionlessly. Over 1.6 million IBC transfers took place across the blockchains in the last 30-days, according to Map of Zones data. The crypto market has boomed this year amid rising interest in blockchain-based applications and services. Rising concerns about inflation and volatility in equities markets have also prompted investment dollars to pour into the cryptocurrency space, and Cosmos and its ATOM token have benefited from this variety of tailwinds. To date, Cosmos has integrated 22 separate blockchains, with many more planned in the coming months. As the project expands its ecosystem of cross-chain interoperable networks, Tendermint continues to play a key role in the project’s development. One of Tendermint’s key figures is the Chief Executive Officer Peng Zhong.

Difference #5: Substrate Vs Cosmos Sdk

It provides them global expansion, a wide network of users and dapps , and continual developments and upgrades. Terra, a blockchain for algorithmic stablecoins, is another project built on Cosmos SDK. The Terra ecosystem includes its native LUNA token, stablecoin USDTerra , Anchor Protocol, Mirror Protocol and Pylons. In October, Terra enabled IBC, which allows Terra users to trade cross-chain with other IBC-enabled blockchains. Aside from its large size, the Cosmos ecosystem is unique in how it enables independent blockchains in the network to communicate with each other. Kwon and Buchman were the two founders of Tendermint, the core team responsible for developing the software architecture for what they described as an Internet of interoperable, application-specific blockchains. Over the next few years, Tendermint wrote the critical systems for the Cosmos network. They included the Cosmos consensus engine Tendermint Core and the software development kit , a framework for building application-specific blockchains.

• While fiat currencies are losing their sheen in the recessionary phase of world economies, cryptocurrencies are gaining momentum.
• The new blockchain network was teased at the end of a conference held by the team, and investors and developers are still largely in the dark about the specifics.
• The core issue is described as being based on the fact that blockchain-based economies are siloed i.e. isolated from one another, and, as such, are incapable of transferring assets among themselves.
• The technical space includes advanced technologies related to AI, ML, ITops, Cloud Security, Privacy and Security, Cyberthreat intelligence, Space, Big data and Analytics, Blockchain and Crypto.
• He is well known for his entertaining and informative analysis of the Financial markets.
• There are thousands of cryptocurrencies, but most of them can’t communicate with one another – a user can’t send tron over the Dogecoin network, for instance.
• It’s also worth pointing out that $104 billion of digital assets are under management.

This leads to the classic “data availability problem”, which is that each validator must constantly download the state for each parachain it is assigned to. This is one of the most difficult problems in the space today and it is unclear that Polkadot will be able to solve it. Naturally, an independent, sovereign chain gives up the ability to seamlessly communicate with other applications because they live on separate blockchains with separate state machines. Cosmos and Polkadot are attempts to solve this — Cosmos with the Hub-and-Zone model, Polkadot with the Relay Chain/Parachain model. The Cosmos price is bouncing back after crashing hard earlier this week.

Cosmos Atom Price Prediction 2021

Comparing this model with Polkadot, the biggest difference here is that the state of each zone is secured by its validators and its validators alone. If a zone wants to have strong security, it needs to bootstrap and recruit its own validators, which may be difficult for smaller applications. However, this is a strong selling point for certain applications that desires more control. For example, Binance is bootstrapping their DEX by having their own nodes be validators for the Binance Chain as a starting point.

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. Cosmos takes an entirely different approach to interchain communication. Since each blockchain has its own validators, it is entirely possible that there are zones which are “evil” with colluding validators. This means that when one zone wants to communicate with another zone, zone A needs to trust the Cosmos Hub and validators in zone B.

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Based on this type of organization, hubs assume the role of the centralized ledgers for each independent chain on the Cosmos network. The Cosmos hub itself is the Proof-of-Stake blockchain running on the Tendermint algorithm.

Firstly, the existing smart contract platform you want to build on may not offer the flexibility and customizability that your application requires. For example, if your application requires a custom hash function, writing it on Ethereum would cost a lot of gas because the function needs to be executed on the EVM each time it is called. Writing your own blockchain from scratch gives you the freedom and flexibility to design the core logic of the blockchain to fit your application’s needs specifically. Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies. As per the latest upgrades, developments, ATOM price prediction, and new project forecasts of the platform, ATOM investors could expect many partnerships and integrations around 2024.

The live Cosmos price today is $24.59 USD with a 24-hour trading volume of $797,902,639 USD. The current CoinMarketCap ranking is #33, with a live market cap of $5,550,988,767 USD. It has a circulating supply of 225,786,793 ATOM coins and the max.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. 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. The Polkadot Relay Chain uses a consensus algorithm invented by the team called GRANDPA.

The technical space includes advanced technologies related to AI, ML, ITops, Cloud Security, Privacy and Security, Cyberthreat intelligence, Space, Big data and Analytics, Blockchain and Crypto. This hub offers marketplace, security, router, and custodian services to users. The Cosmos Hub is a blockchain that connects users to the Interchain. This has it being community-owned and operated as developers make more apps for the blockchain. Cosmos is a decentralized version of the internet with apps and services making use of blockchain. For the uninitiated, IBC – short for inter-blockchain communication – has been one of Cosmos’ most eagerly-awaited features. The biggest downside of Tendermint is that it has a high communication overhead between validators.

We cannot assume that parachains are distinctly different objects because they ultimately still share one global state with the rest of the network. This is where Cosmos and Polkadot differ the most because of the architectural designs. Crispus Nyaga is a financial analyst and day trader with almost a decade in the industry.

Author: Vlad Hatze