Cosmos Price Live is at ₹371.54 (2024)

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The Cosmos project attempts to build a platform of the “Internet of Blockchains” by making it easier to interact between blockchains. This protocol, named Inter-Blockchain Communication (IBC), was launched during the initial quarters of 2021.

Here, multiple blockchains collaborate to bring down the necessity for a unilateral blockchain to regulate the rest. Additionally, it allows developers to design their blockchain in a very short time frame.

About Cosmos Coin:

Cosmos is a cryptocurrency founded by Jae Kwon in January 2014.

• Tendermint is a concurrency protocol that allows developers to create a bespoke blockchain that is fast and secure.
• The Cosmos SDK allows developers to design an application on top of the above mentioned Tendermint based blockchains.
• The Inter-Blockchain Communication protocol (IBC) allows various interconnected blockchains to communicate within them.
• Cosmos uses hubs for such IBS based connectivity solutions instead of conventional bridges. Hubs are basically cosmos blockchains that act as a single point to interrelate with other connected chains.

The Cosmos platform ensures greater scalability, interoperability, usability and sovereignty. Here are three uses of the COSMOS platform:

Governance: By holding a stake in ATOM, other participants can join the cosmos hubs and will get the option to reduce the stake.

Payments of transaction fee: Photons is a token that enables the payment of transaction fees on other cosmos platforms.

Development: Developers can design their custom blockchain using Cosmos SDK.

Pros

• Higher scalability factor: Relatively faster way to process transactions due to their Proof of Stake algorithm that enables >1000 TPS
• Staking Cosmos network: After the successful validation of stake of ATOMs, users (liquidity providers) are rewarded.
• Enable Day Trading: Ethereum blockchain makes transaction processing and reporting efficient.
• Credibility: Many well-established blockchains have moved on into the Cosmos network for better interoperability.

Cons

• Staking issues:

  If any of your representatives in the cosmos network lost their token through misconduct, your token would also be slashed in that process.

• Giant Competitors:

  Cosmos is the pioneer who uses interoperability in their protocols. Now competitors such as Chainlink, Polkadot have started their operations in the market.

• Start investing and trading in Cosmos with just Rs.100.
• Allows instant withdrawal and deposit directly to bank accounts.
• Start trading in ATOM coins at zero fees.
• UI built for great customer experience
• Easily track your transactions and manage your crypto portfolio.

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Participate in the fundraiser event conducted by Cosmos network and log on to the fundraiser.

Yes. There are two main tokens: ATOM coinand Photons. But in a Cosmos Hub, we can witness many other tokens.

Yes.

Cosmos uses a proof-of-stake algorithm and not a proof-of-work. POW enables better security than POS. But, the behaviour of cosmos stakes is wavy, which shows ATOM can increase in the near time.