Cosmos(ATOM) is a decentralized blockchain ecosystem designed to solve many problems in the blockchain industry including interoperability and scalability. It uses a consensus mechanism known as Tendermint which organizes nodes on how they agree on adding new transactions.
The Cosmos network is split into networking, application, and consensus. These layers are connected through a collection of open-source tools and applications. The Cosmos hub records the different activities and transactions in the network and hosts the native cryptocurrency, ATOM.
It has a decentralized network offering open-source tools for developers to create interoperable blockchains. The challenge faced in the blockchain is that they are created independently and few can transfer data between one another.
About Cosmos (ATOM)
Cosmos network was founded in 2014 by Ethan Buchman and Jae Kwon and consists of Proof of StakeStake blockchain mainnet and customized blockchain zones. The main chain known as Cosmos Hub acts as a central ledger for compatible blockchains called Zones. As each zone is customizable, developers can design their cryptocurrency.
Cosmos ecosystem helps to reduce cost, scale effortlessly, and improve the efficiency of businesses. The Cosmos ecosystem can be used to build secure blockchain applications. Central to the the Cosmos ecosystem are the Cosmos software development kit(SDK), and the Tendermint Core Consensus mechanism. The open-source Cosmos SDK helps to build application-specific blockchains from scratch. Tendermint is a consensus mechanism that allows fast transaction finality at extremely a low cost
The native currency of Cosmos network is ATOM which can be used to pay transaction fees, take part in governance votes, and stake behind validators. Cosmos ecosystem has approximately $63 billion worth of assets under management through a network of around 250 apps.
Binance chain and dyDx are some of the most popular blockchains and dApps integrated with the Cosmos network. Even though there is potentially a critical role in a multichain future, limited revenues have historically accrued to holders of ATOM tokens, which is a downside.
Cosmos ATOM can be purchased at top crypto exchanges like Binance, Kraken, and Coinbase. To send ATOM, one has to use the ATOM wallet, tap send, and select ATOM along with pasting or scanning the QR code of the ATOM recipient. Enter the amount, tap ‘SEND’, and review the transaction. The transaction fees of Cosmos ATOM are very low at $.01 and the transaction rate is 500ms.
Cosmos (ATOM) Price Prediction
The prediction of prices for ATOM is based on technical analysis, customer sentiment, and market dynamics and there is a high probability that the actual prices may vary wildly. Even in the case of analysts specialized in predicting prices, their estimates vary by a wide margin. Here we present the average of the analyst prediction.
In 2012, Cosmos(ATOM) returned over 700% profit. In 2024, the price of Cosmos is expected to fluctuate between $6.49 and $14.51.
By the end of 2025, the value of the token is predicted to reach $11.8, with the maximum probable value at $13.
For the year 2026, the average price of ATOM is expected to be $14.
In the same vein, the price for 2027 end could reach $18.
For the year 2028, the price is predicted to be $23 by the year end with the minimum value not going north of $20.5.
In 2029, an increase in the trajectory of price is expected and the high value of $29 could be crossed.
In 2030, the price could fluctuate between $30 and $36 with the average price predicted at $33.
Conclusion
Cosmos represents an excellent venture in the blockchain space with the potential for growth and impact in the blockchain industry. Cosmos sees itself as the internet of blockchain that facilitates decentralized communication between various blockchains.
The unique architecture of Cosmos with the Cosmos SDK and Tendermint Core Consensus mechanism allows the creation of interoperable blockchains and enables them to overcome challenges in the industry.
The native currency ATOM serves in transaction fees and governance votes. With full interoperability, Cosmos can pave the way for renewed collaboration and innovation in the blockchain landscape. However, potential investors should conduct research and consider the volatility of the cryptocurrency market before investing.
