Exchange Cosmos (ATOM)

Cosmos (ATOM) is a decentralized network of independent parallel blockchains, each powered by Byzantine Fault Tolerant (BFT) consensus algorithms like Tendermint. The ambition of the Cosmos network is to create an Internet of Blockchains, where different blockchain projects can communicate and transact with each other.

The Cosmos network allows for interoperability between different blockchains, enabling developers to create custom applications and services that can leverage the benefits of multiple blockchains simultaneously. By creating a scalable, interoperable blockchain ecosystem, Cosmos aims to address some of the scalability and interoperability challenges faced by the blockchain industry.

The Cosmos network was founded by Jae Kwon, who is also the CEO of Tendermint Inc., a company that provides software and services for building and running secure, scalable blockchain applications. Jae Kwon is a computer scientist and entrepreneur who has been active in the blockchain industry since 2014. He is a graduate of Cornell University, where he studied computer science and electrical engineering.

The Cosmos network is secured through a combination of Byzantine Fault Tolerant (BFT) consensus algorithms and a Proof-of-Stake (PoS) mechanism.

The BFT consensus algorithm used in the Cosmos network is called Tendermint, which is designed to ensure that all participating nodes agree on the state of the network at any given time. Tendermint is a consensus algorithm that uses a form of Practical Byzantine Fault Tolerance (PBFT) to ensure that all nodes in the network agree on the same set of transactions in a given block.

The PoS mechanism used in the Cosmos network involves ATOM holders staking their tokens as a way of participating in the network and helping to secure it. Staking involves locking up ATOM tokens for a certain period of time, during which the tokens cannot be transferred or traded. In exchange for staking their tokens, validators are chosen to create and validate new blocks in the network, and are rewarded with transaction fees and newly minted ATOM tokens.

According to the Cosmos whitepaper, the maximum total supply of ATOM tokens is 236,388,230. As of April 18th, 2023, the circulating supply of ATOM is 217,450,734 coins. The market capitalization of ATOM is approximately $4.4 billion USD, making it one of the largest cryptocurrencies by market capitalization.

The Cosmos ecosystem is a growing network of blockchains, applications, and services that leverage the Cosmos technology stack. At its core is the Cosmos Hub, which acts as a central hub for the network, providing a means for different blockchains to communicate and transact with each other. The Cosmos Hub also supports the ATOM cryptocurrency, which is used for staking, transaction fees, and governance within the network.

Other blockchains that are part of the Cosmos ecosystem include:

• Iris Network: A decentralized network for building distributed business applications.
• Kava: A cross-chain DeFi platform that provides collateralized loans, stablecoins, and other financial services.
• Akash Network: A decentralized cloud computing platform that allows developers to deploy and run applications in a secure and cost-effective manner.
• Sentinel: A decentralized VPN and bandwidth marketplace that allows users to share bandwidth and earn cryptocurrency.
• Band Protocol: A decentralized oracle network that provides reliable and tamper-proof data feeds for blockchain applications.

In addition to these blockchains, there are also a growing number of projects and applications that are built on the Cosmos technology stack, including wallets, exchanges, and other infrastructure providers. Together, these projects and services form a vibrant and diverse ecosystem that is pushing the boundaries of what is possible with blockchain technology.

Average Fees on the Cosmos Network

The average transaction fee on the Cosmos network is currently around 0.0001 ATOM, or about $0.001 USD. 

Unlike some other blockchain networks, the Cosmos network does not use gas fees to determine transaction costs. Instead, the cost of a transaction is determined by the number of bytes it requires to be added to the blockchain, which is a more efficient and predictable way of calculating fees.

Staking fees on the Cosmos network are typically around 5-7% per year, depending on network conditions and the number of validators currently participating in the network.

ATOM Coin Wallets 

There are several wallets that can be used to store ATOM coins, including Ledger, Trezor, Cosmostation, Trust Wallet, Exodus, Atomic Wallet, Coinomi, Guarda Wallet, etc.