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ATOM holders will be feeling assured after Cosmos' token held firm above the $4.00 level of support.
Cosmos token shows remarkable 3% recovery amid broader market uncertainty, establishing new resistance at $4.04 level.
Cosmos token faces 5% volatility swing amid broader market uncertainty despite late recovery attempts.
Cryptocurrency shows resilience amid uncertainty in the Middle East as trading volume doubles during decisive move above $4.00
Cosmos token demonstrates resilience despite market volatility triggered by Middle East conflict.
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Cosmos FAQ
Cosmos is an interoperable network designed to connect various independent blockchains, facilitating communication and collaboration between them. It aims to address the blockchain industry's challenges of scalability and interoperability.
Interoperability allows for different blockchains to communicate and share information. It bridges the gap between isolated blockchains, enabling more integrated and versatile applications and solutions.
Dive deeper into Cosmos
Cosmos is a decentralized hub bridging multiple blockchains using Byzantine Fault Tolerance (BFT) consensus algorithms like Tendermint. This pioneering platform not only aspires to knit together diverse blockchains but also to enhance their collective functionality. With a unified vision, the Cosmos team aims to break down barriers, envisioning a cohesive blockchain realm, all under the Cosmos umbrella.
What Is Cosmos
Cosmos, often called the “internet of blockchains,” seeks to revolutionize the blockchain industry by addressing major challenges like scalability and interoperability. It does so by fostering communication between distributed ledgers without relying on a centralized server.
The Cosmos ecosystem comprises application-specific sidechains named “Zones.” These Zones are interconnected through the Cosmos Hub, similar to Polkadot's parachain model.
ATOM, its native token, facilitates governance voting and strengthens security through staking.
The Cosmos team
Cosmos was developed by the Tendermint team. Its co-founders, Jae Kwon, the mastermind behind the Tendermint consensus algorithm, and Ethan Buchman, have rallied a team of adept blockchain developers, cryptographers, and computer scientists.
How does Cosmos work
Cosmos utilizes a "hub and spoke" architecture, where the Cosmos Hub acts as the central hub, and various independent blockchains, referred to as “Spokes,” connect to it. These independent blockchains, known as Zones, leverage the Tendermint consensus protocol and communicate with the hub using the Inter-Blockchain Communication (IBC) protocol.
In contrast to many platforms that depend on smart contracts for inter-chain interactions, Cosmos introduces an open-source tool that allows developers to design and develop decentralized blockchain applications. Additionally, Cosmos offers software development kits (SDKs) to streamline the creation of these applications.
ATOM tokenomics
ATOM is the native token of the Cosmos network. It underpins the network's Proof of Stake (PoS) consensus model, with validators and delegators staking ATOM tokens to bolster security and partake in consensus. Moreover, ATOM holders possess governance rights, influencing the trajectory of the Cosmos network through their votes. ATOM can also be used to pay transaction fees or staked for additional rewards. An annual inflation rate of 7 percent to 20 percent incentivizes ATOM holders to stake their tokens.
Distribution of ATOM
ATOM was initially distributed as follows:
- 35 percent earmarked for staking rewards
- 30 percent disseminated to partner exchanges to ensure liquidity
- 10 percent set aside for the Interchain Foundation
- 10 percent remains with Tendermint
- 15 percent was allocated to the team and investors
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