They call Cosmos (ATOM) “an ever-expanding ecosystem of interconnected apps and services.” That’s the best description of Web 3.0 I have ever seen.
Cosmos what they call a universe of connected services. They claim Cosmos’ “universe” contains over 262 apps and services and over $66 billion in digital assets under management. They built cosmos with the Inter-Blockchain Communication (IBC) protocol. The IBC protocol allows users to exchange assets freely and transmit data across sovereign decentralized blockchains.
A goal at Cosmos is to build the Interchain. They describe the Interchain as a new internet that comprises an extended network of interconnected blockchains. Developers can use an interchain to build decentralized exchanges to swap assets across the Interchain.
The Interchain and Cosmos
They claim an Interchain Security they call ATOM secures many chains in exchange for additional staking rewards. The Cosmos Hub also serves as the economic center of Cosmos. The ATOM token secures Cosmos.
The Cosmos Hub serves as a router to connect blockchains with IBC connections. Among other things, they claim this will allow users to build decentralized bridge chains to connect to Ethereum (ETH) and Bitcoin (BTC). They also claim the Cosmos Hub serves as a custodian to hold digital assets and manage accounts across many chains.
Future benefits of Cosmos could include a secure account for all digital assets, the ability to Swap Tokens and collectibles, liquidity pools and wrapped Ethereum (ETH) and Bitcoin (BTC).
The Cosmos SDK (software development kit) is a blockchain framework that powers the Cosmos Hub and its expanding system of sovereign chains. I guess a sovereign chain supports self-sovereign identity. IBM calls self-sovereign identity “Lifetime portable identity for any person, organization or thing that does not depend on any centralized authority and can never be taken away.”
The Cosmos SDK
They claim the SDK creates fees as low as one cent and transactions as well as fast as seven seconds. Plus developers can use the Cosmos SDK to build their own blockchains. Users for Cosmos SDK include decentralized finance applications, resilient autonomous organizations, and game economies owned by players. Users can get grants to build chains.
You can use the Cosmos SDK to build social networks, marketplaces, and games. They claim Cosmos blockchain does not have to be maintained by a digital computer such as the Ethereum Virtual Machine (EVM). Instead, Cosmos is fully decentralized.
That creates more security by using a Proof-of-Stake consensus mechanism that reduces energy consumption. They claim this lets anybody build a sovereign blockchain and connect it to Cosmos.
The Universe of Cosmos
The technology behind Cosmos (ATOM) is the Tendermint Byzantine Fault Tolerance consensus algorithm, which manages finality, order consistency, and optional available.
A second layer they call Ignite CLI can accelerate blockchain development by providing a framework or scaffold for construction. This makes it easy to build blockchains by providing a standardized model.
Apps on Cosmos include the Akash Network, Alter, BaseCoin, BEPSwap, Binance (BNB), the Binance Smart Chain, BitDAO, Chainpoint, the Coinex Decentralized Exchange, Datapace, Decentralized Identifiers, the Dawn Protocol, e-Money, Electron, Foam, Gravity Bridge, the GateChain DEX, the HeroLedger Marketplace, Inter Charity Blockchain, Kava (USDX), Microtick, Minter, NO6, Osmosis, Pocket Network, Polygon (MATIC), Saturn Money, Sentinel, Sputnik Network, Supernova, Terra, Thailand National Digital ID, THORChain, TokenSwap, WeTrust, XarNetwork, the UP Voting System, Zigbee, and Chihuahua.
The ATOM Token
Cosmos (ATOM) is the Cosmos Hub’s primary token which secures the interchain services. ATOM holders can lock vale up by contributing to the security of the Cosmos Hub by staking (providing proof-of-stake).
They pay people who lock ATOM rewards in newly minted ATOM and a share of transaction fees the Cosmos blockchain collects. There is a strong interest in ATOM and Cosmos. Cosmos was CoinMarketCap’s sixth most trending cryptocurrency on 11 September 2022. Similarly, Cosmos was CoinMarketCap’s 21st largest cryptocurrency on 11 September 2022.
CoinMarketCap gave Cosmos (ATOM) a $15.24 Coin Price on 15 September 2022. CoinMarketCap gave Cosmos $4.362 billion Market Capitalization, no Fully Diluted Market Cap, and a 24-Hour Market Volume of $718.626 million on 15 September 2022. They based those numbers on a Circulating Supply of 286.371 million ATOM.
What Value does Cosmos (ATOM) offer?
Conversely, CoinBase gave Cosmos a $15.20 Coin Price, a $4.4 billion Market Cap, and a $718 million 24-Hour Market Volume on 15 September 2022. They base numbers on a Circulating Supply of 286.4 million ATOM on 15 September 2022. ATOM was CoinBase’s 17th most popular cryptocurrency on 15 September 2022. CoinBase gave Cosmos an all-time high Coin Price of $44.70.
Meanwhile, Cosmos Hub (ATOM) was CoinGecko’s 22nd ranked cryptocurrency, with a $15.23 Coin Price on 15 September 2022. CoinGecko gave Cosmos Hub a $4.557 billion Market Capitalization and a 24-Hour Trading Volume of $670.455 million on 15 September 2022. They base numbers on a Circulating Supply of 292.586 million ATOM.
I think Cosmos (ATOM) offers enormous because of all the apps it supports. If you are seeking a Web 3 blockchain solution that could make money, I think Cosmos is worth examining.
