What is Cosmos? Things to know about the latest ATOM coin 2020

Cosmos (ATOM) despite experiencing an overall sharp drop with the entire market still trading at $1.9, x19 times the ICO price. A rare ICO project that keeps its profits at the present time.

So…

  • What is Cosmos? What is ATOM coin?
  • Should I invest ATOM coin?
  • Where to buy and sell ATOM coin reputable?
  • ATOM Wallet Which should be used?

If you are looking to find out Cosmos . platform and potential invest ATOM coin then this article is for you.

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is Cosmos?

Cosmos is a blockchain platform that provides scalability and application of blockchain solutions.

The problems that are still outstanding, holding back the development of blockchain technology that this platform wants to solve are: limited scalability, the difficulty of interoperability between different blockchains.

To solve these problems Cosmos came up with solutions: consensus algorithm Tendermint, Cosmos SDK and Interblockchain Communication (IBC). They are built to fulfill a mission and vision “Internet of Blockchains”.

  • Tendermint consensus algorithm: handle problems related to scalability and consume too much energy and power in the process of operating a blockchain network.
  • Cosmos SDK: provides an environment for blockchain networks to build applications and interact with.
  • Interblockchain Communication (IBC): Like the TCP/IP protocol that helps blockchains on the network work together.

Maybe you are interested: What is Blockchain Technology? A step-by-step guide for beginners

Cosmos’ Mission

Project Cosmos aims to create an entire ecosystem around a blockchain that runs on algorithmic consensus Tendermint BFT make blockchains easier to use, by providing SDK for developer permission Interblockchain Communication (IBC) through model “Hub-and-Zone”. Cosmos will act as the first hub through which other blockchains and tokens can transfer information using IBC.

Main features of Cosmos

Tendermint Core is a ready-to-use blockchain engine as a consensus protocol. It can be used to build both public and private blockchains.

A package of tools to help developers accelerate the process of building their own blockchain for their own applications. You can see Cosmos SDK as a framework for building blockchains.

  • Interblockchain Communication (IBC)

Give developers more tools to build their own blockchain. This is the next component of the project Cosmos helps to improve the interoperability of different chains. It allows transactions to occur between chains and layers. By using a combination of zones, one can freely transact in a cryptocurrency ecosystem on IBC-compatible chains.

What is ATOM coin?

ATOM coin is the base currency of Cosmos Hub. There is an interesting point ATOM coin can be subdivided into 1 million microphone ATOM (uATOM).

ATOM coin released after Cosmos Network completed Mainnet on March 13, 2019.

With ATOM coin you can use it to pay transaction fees in the Cosmos network, join Cosmos staking to get a reward of ATOM coin.

In addition, part of the transaction fee ATOM will be deducted from the Treasury, a fund to finance potential projects. The first condition for these projects to receive funding is to hold a certain amount ATOM coin certain.

Basic parameters of ATOM coin

Token symbol ATOM
Blockchain Cosmos Hub
Block generation time 6.7s
Consensus protocol PoS
Total supply of tokens 237,928,231 ATOM
Total tokens in circulation 190,688,439 ATOM

ATOM coin allocation

phan-bo-atom-coin

How to mine ATOM coin

Do ATOM using consensus protocol is PoS so you can’t mine ATOM . coin like Bitcoin mining.

However, you can completely participate in ATOM staking to receive a reward of ATOM . coin newly created (block reward).

Should I invest in ATOM coin or not?

Attention: no investment is 100% safe and every decision carries risk. In any case, it’s up to you to decide. However, below is some useful information that can impact the return on your ATOM coin investment.

Cosmos . Development Team

According to the official website of Cosmos, “project development Cosmos led mainly by Tendermint Inc.” – a private, for-profit organization, but funding for development comes from the Interchain Foundation – a Swiss non-profit organization.

You can find complete information about Tendermint on the Tendermint website.

Cosmos . Partners and Apps

From the official website of Cosmos, there are already a number of famous projects applying this platform and building an ecosystem around the solutions that Cosmos provides.

Typical names that can be mentioned are: Binance Chain, e-Money, Kava, Loom Network, …

As there are more projects and application platforms, Cosmos Network will expand, thereby leading to an increase in the demand for buying, selling, and hoarding ATOM coins, promoting the potential invest ATOM coin.

ATOM coin price

As mentioned at the beginning of the article, price ATOM currently trading around 1.9 USD and already x19 times its ICO price (0.1 USD for 1 ATOM). At one point, price ATOM has increased to 8.31 USD and this is also the level price ATOM highest ever.

Gia-atom
ATOM . price chart

Currently ATOM is ranked 25th in the market, ranked by total capitalization with total tokens in circulation of 190,688,439 ATOM.

Instructions for buying and selling ATOM coin

At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy ATOM, selling ATOM has also become much simpler.

In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.

How to buy and sell ATOM in VND

Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy ATOM For prestige, I think the best currently is the Bitmoon exchange.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.

Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.

The prestigious international ATOM trading floor

The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.

For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.

Below is the floor name and transaction fee comparison table for your reference.

If you want to learn about which floor, you can click on that floor’s name in the table, there will be a detailed article on that floor.

Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy and sell ATOM All of you use USDT for transactions.

ATOM wallet should use

Currently, depending on usage needs and invest in ATOM your wallet that you will choose for yourself the appropriate wallet.

The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

Maybe you are interested: What is Trust Wallet? How to create a Trust Wallet and use details

This wallet is suitable for those of you who often buy and sell ATOM optimized for trading.

Some reputable exchanges that you can refer to are: Binance exchange, Bitmoon exchange, …

Conclude

This article has summarized the most basic information you need to know about Cosmos and ATOM coin. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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