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Cosmos, a pioneering Gen 3 cryptocurrency, is gaining traction for its solutions to blockchain performance and governance issues in the crypto space.
With many projects in the cryptocurrency space, it is easy to overlook unique projects with massive potential, like Cosmos. Cosmos is a Gen 3 cryptocurrency that aims to solve blockchain shortcomings like poor or limited performance, high transaction fees, and immature governance mechanisms.
Let’s explore the Cosmos ecosystem to understand why this project is gaining massive traction in the cryptocurrency space.
What is Cosmos?
Cosmos is a decentralized platform developed to facilitate interoperability between different blockchains, called zones. In other words, it was designed to allow blockchain networks to communicate with each other, sending and receiving messages, data, and tokens. Cosmos is able to achieve this by using the Inter-Blockchain Communication (IBC) protocol, which ensures that connection between various blockchains is done effectively and securely.
Cosmos utilizes the Tendermint BFT consensus algorithm, known for its secure and high-perfomance throughput. This consensus mechanism enhances the scalability and performance of blockchains, especially public proof-of-stake blockchains.
At the heart of Cosmos is the Cosmos hub, which serves a key role in connecting thousands of interconnected zones. Each zone can have its own governance mechanism and constitution. All token transfers from different zones go through the hub, which plays a pivotal role in keeping track of the total amount of tokens in each zone.
By allowing inter-zone tokens to go through the Cosmos hub, tokens can be transferred from one zone to another securely and quickly without needing a liquid exchange between zones.
ATOM: Cosmos’ native token
Cosmos (ATOM) is the native cryptocurrency for the Cosmos network. Its token holders are granted the right to make governance decisions, such as voting, validating, or delegating validators on the network. ATOM can also be used to pay for transaction fees, like ether on the Ethereum network.
Token holders can reap massive returns by staking ATOM. Cosmos promised up to 16.14% reward with cosmos staking, which is higher than other leading cryptocurrency projects like Ethereum, Polkadot, and Tezos. According to data from Coinmarketcap, there are over 300 million ATOM tokens in circulation, so ATOM staking is definitely a thing to consider.
The token is creating a buzz in the crypto space. Vitalik Buterin, the creator of Ethereum, says he likes the Cosmos (ATOM) project. Therefore, Cosmos is one of the hits these days.
Crypto market analysts’ consensus rating shows that the current sentiment for ATOM is bullish, and its price could reach $7 by 2025. Be one of the early investors who rush to buy it before its price surges. You can purchase ATOM on Atomic wallet in a matter of minutes using your debit or credit card.
The all-in-one cryptocurrency wallet
Atomic Wallet is a robust crypto wallet that can store over 300 cryptocurrencies. It is available on desktop and mobile and is used by 5 million trusted customers worldwide. With the wallet, you can buy, sell, trade, stake, send, and receive cryptocurrencies, as well as add any ERC2 token that you’d like to use.
In addition to staking ATOM using the Atomic wallet, you can also stake ETH, SOL, ADA, TRX, and over 10 other assets, earning a 20% Annual Percentage Yield (APY).
Swap ATOM for more than 1000 cryptocurrency pairs and receive 1% cashback as a token of appreciation for using the Atomic wallet. Not many wallets have this offer.
The wallet has an intuitive user interface that’s easy to use even if you don’t have tech skills. Cryptocurrencies, such as ATOM, Bitcoin, and many others, can be bought using your VISA or MasterCard right inside the Atomic wallet. No need to worry if you do not have USD or EURO because the wallet accepts many other local currencies.
Transaction fees in Atomic Wallet are comparably lower than other wallets. You only pay a flat 2% with a minimum $10 fee per transaction when you purchase cryptocurrencies in Atomic wallet. There’s no charge when you sell, swap, and receive crypto.
Conclusion
In the dynamic world of cryptocurrencies, Cosmos stands out as a Gen 3 blockchain solution addressing critical industry challenges. For its unique features, the project has drawn the attention of renowned figures in the crypto space, like Vitalik Buterin. Market analysts are bullish on ATOM, the native token for the Cosmos network.
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This article first appeared at crypto.news
