What is Cosmos (ATOM)

Cosmos Network, also known as “Internet of Blockchain”, is a blockchain whose main goal is to connect various blockchain and platforms safely, solving the problems of slow and expensive Proof of Work protocol. Cosmos also helps to make blockchain technology less complex and difficult for developers.

Founder

Cosmos was co-founded by Jae Kwon, blockchain software architect who is also founder of Tendermint and president of Interchain Foundation, and Ethan Buchman, co-founder of Tendermint as well. They found Cosmos in 2014 while developing Tendermint which is the consensus protocol of Cosmos.

Why Cosmos

As mentioned, one of Cosmos’ main objectives is to be a center hub to connect and allow all blockchains to easily share data, similar to the current internet. The main feature of Cosmos consist of:

1. Tendermint Core – Open source protocol from Byzantine Fault Tolerant (BFT). This BFT will expand the capability to create smart contracts and help developers to focus only at application development.
2. Application Blockchain Interface – language option protocol for developer to be able to choose the language they want to use in developing application
3. Cosmos SKD – set of basic function such as transaction, staking, and vote that Cosmos provided to developer, which they can also add more later

Cosmos has the main network called Cosmos Hub, which connects other blockchains that are called Zone and each Zone contains independent blockchains that are developed in the network. All this Zone can communicate with other Zone through Inter-Blockchain Communications (IBC). All this technology lessens the complexity of developing applications on blockchain, making it faster to complete, which attracts a number of developers. Also the transaction speed is very fast and very low gas fee.

ATOM Utility

ATOM is the Native coin of Cosmos network with 3 main utility which are:

1. Fee for each transaction
2. The right to govern the direction of network
3. Staking

Currently there are approximately 382 ATOM tokens in circulation and a market cap of $3.8 billion.

Estimate Date: Coinmarketcap of January 2024

Roadmap and future of Cosmos

Currently there are more than 100 projects on Cosmos such as Axelar, Sei, IslamicCoin, DYDX, Celestia and Osmosis. Cosmos had announced the future roadmap to cooperate with other projects onto Cosmos to increase the utility of ATOM.