Table Of Contents
- What is Cosmos (ATOM)?
- Key Features Of Cosmos
- Pros and Cons of Cosmos(ATOM)
- Cosmos Price Prediction For 2021, 2022, 2023, 2024, 2025, 2030
- Cosmos Price Prediction 2021
- Cosmos Price Prediction 2022
- Cosmos Price Prediction 2023
- Cosmos Price Prediction 2024
- Cosmos Price Prediction 2025
- Cosmos Price Prediction 2030
- Frequently Asked Questions
- What is Cosmos (ATOM)?
- Does Cosmos work with smart contracts?
- On which blockchain is Cosmos based?
- What is Cosmos’s total supply?
What is Cosmos (ATOM)?
Cosmos is a decentralized network of independent parallel blockchains that is based on Byzantine Fault Tolerance (BFT) consensus algorithm. The platform’s compatibility with various blockchain networks is one of its key characteristics. The Cosmos network can be described as “Blockchain 3.0”. The ecosystem not only include smart contract features, but also provides a safe and secure transaction and trading system without involving middlemen.
The ATOM token can be used for holding, spending, sending, and staking and helps to ensure interoperability across all zones in the Cosmos network.
ATOM holders obtain the capacity to vote on network developments by owning and staking ATOM, with each vote proportional to the amount of ATOM staked. Validators are rewarded with ATOM based on the number of tokens they staked, with delegators earning a small portion of the rewards.
Key Features Of Cosmos
The Cosmos network is made up of three layers:
- Application – This allows the processing of transactions and updates the state of the network.
- Networking – This allows communication between transactions and blockchains.
- Consensus – Consensus help nodes agree on the current state of the netwok.
Cosmos uses a set of open-source tools to link all of the layers and allow developers to create blockchain applications.
Tendermint is an algorithm used to secure the cosmos network, validating transactions and adding blocks to the blockchain. It communicates with applications through the Application Blockchain Interface protocol.
Tendermint Byzantine Fault Tolerance (BFT)
Tendermint core is a proof-of-stake (PoS) governance mechanism that keeps Cosmos Hub’s distributed network of computers in sync. Participants (“Validator Nodes”) must first stake ATOM in order to power the blockchain and vote on changes. To become a validator, a node must rank in the top 100 of nodes staking ATOM and the quantity of ATOM staked determines voting power.
Cosmos Hub and Zones
On the Cosmos network, the Cosmos Hub was the first blockchain to be released. It was designed to function as an intermediary between all of the zones within the Cosmos network. Each zone within Cosmos is capable of performing its essential functions on its own. Authenticating accounts and transactions, creating and distributing new tokens, and implementing changes to its own blockchain are all part of this process. By keeping track of the states of all the zones in the network, the Cosmos Hub is tasked with promoting interoperability.
Inter-Blockchain Communication Protocol
The Inter-Blockchain Communication protocol (IBC) connects zones to the Cosmos Hub, allowing information to flow freely and securely between each linked zone.
Once a zone is tied to the Cosmos Hub, it is interoperable with all other zones connected to the hub, allowing data to be exchanged across blockchains with widely different applications, validators, and consensus algorithms.
The Cosmos team created a software development kit (SDK) that allows developers to create blockchains using the Tendermint consensus algorithm,vby providing the most common functionality found in blockchains, the SDK reduces complexity, plugins can be created by developers to add any extra functionality they like.
Pros and Cons of Cosmos(ATOM)
|Cosmos is a fully open-source project||Delegated staking results in ATOM being frozen while validators carry out their duties.|
|Cosmos’ protocol allows for the easy links between various stand-alone blockchains.||Staked ATOM are locked for minimum of 3-weeks.|
|ATOM can be staked for interest|
|Stand-alone blockchains can function independently and keep their sovereignty and security protocol.|
|Security cannot be compromised with interoperability that Cosmos offers.|
|Cosmos is a community-governance system in which users are identifiable by their keys.|
|Transaction fees can be paid using ATOM.|
Cosmos Price Prediction For 2021, 2022, 2023, 2024, 2025, 2030
|Year||Minimum Price||Average Price||Maximum Price|
Cosmos Price Prediction 2021
Cosmos price is predicted to reach $26.471 by the beginning of December 2021, with an expected maximum price of $37.93 and minimums as low as $37.93.
Cosmos Price Prediction 2022
According to our deep technical analysis on past price data of cosmos, In 2022 the price of cosmos is forecasted to be at around a minimum value of $36.5. cosmos price value can reach a maximum of $48.13 with the average trading value of $42.4 in USD.
Cosmos Price Prediction 2023
According to our forecast and technical analysis, In 2023 the price of cosmos is expected to reach at a minimum price value of $52.083. cosmos price can reach a maximum price value of $56.12 with the average value of $53.085.
Cosmos Price Prediction 2024
cosmos price is forecasted to reach a lowest possible level of $52.083 in 2023. As per our forecast, cosmos price could reach a maximum possible level of $62.14 with the average forecast price of $56.12.
Cosmos Price Prediction 2025
According to our deep technical analysis on past price data of cosmos, In 2021 the price of cosmos is predicted to reach at a minimum level of $60.18, cosmos price can reach a maximum level of $70.21 with the average trading price of $67.18.
Cosmos Price Prediction 2030
Cosmos price is forecasted to reach $127.15 by the beginning of 2030 and will likely be in a bullish trend with an expected maximum value at around $189.33.
Frequently Asked Questions
What is Cosmos (ATOM)?
Cosmos is a decentralized network of independent parallel blockchains that is based on Byzantine Fault Tolerance (BFT) consensus algorithm. The ecosystem not only include smart contract features, but also provides a safe and secure transaction and trading system without involving middlemen.
Does Cosmos work with smart contracts?
Yes, Cosmos network enables the execution of smart contracts.
On which blockchain is Cosmos based?
Cosmos has its own blockchain.
What is Cosmos’s total supply?
Cosmos has a total supply of 237 million ATOM.