Table of Contents
What Is Cosmos?
In brief, Cosmos bills itself as a project that solves some of the “difficult problems” facing the blockchain industry. It focuses on offering an antidote to “slow, expensive, inaccessible and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by presenting an ecosystem of connected blockchains.
This project’s other objectives comprise making blockchain technology less composite and less difficult for developers thanks to a modular framework that explains decentralized apps.
Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other preventing fragmentation in the industry.
Its origins can be dated back to 2014, when Tendermint, a key contributor to the network, was founded. In 2016, a white paper for Cosmos was published and a token sale was held the following year.
ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.
Who Are The Founders Of Cosmos?
The co-founders of Tendermint gateway to the Cosmos ecosystem were Jae Kwon, Zarko Milosevic, and Ethan Buchman. Although Kwon is listed as principal developer, he stepped down as CEO in 2020. He is still a part of the project but his main focal point is on other initiatives.
He has now been replaced as Tendermint’s CEO by Peng Zhong, and the whole board of directors was given quite a considerable refresh. Their objectives include enhancing the encounter for developers, creating a passionate community for it, and building educational resources so greater numbers of people are aware of what this network is capable of.
Why Cosmos?
A paramount issue for some in the crypto industry centres on the levels of fragmentation seen in blockchain networks. There are hundreds still alive, but very few of them can liaise with each other. Cosmos focuses to turn this on its head by making this feasible.
Cosmos is expressed as “Blockchain 3.0 and as we mentioned earlier, a big aim is ensuring that its infrastructure is uncomplicated to use. Hence, the Cosmos software development kit focuses on modularity.
This allows a network to be easily built using chunks of code that already exist. In future, it’s hoped that compound applications will be straightforward to construct as an outcome.
Scalability is another most important consideration, meaning substantially lots of deals can be processed a second than more old-fashioned blockchains like Bitcoin and Ethereum. If blockchains are to ever reach mainstream acquisition, they’ll need to be able to manage with ultimatum as well as existing payment processing companies or websites or be even better.
How Does Cosmos Atom Work?
The main idea of Cosmos is to allow for quick and inexpensive decentralized applications, anything from an NFT marketplace to decentralized interchanges by allowing them to run on their dedicated blockchains.
All of these independent blockchains (called “zones”) are linked by the Inter-Blockchain Communication protocol or IBC.
Cosmos also gives developers pre-made modules that allow them to immediately establish blockchains that are completely customizable for their specific use case.
The Cosmos consensus engine, IBC protocol, and software developer kit are designed to enable ease of use and interoperability between chains while maintaining the security and transaction cost and speed developers would expect from other leading blockchain platforms.
How Many Atom Coins Are There In Circulation?
ATOM has a very distinct total supply of 260,906,513 exactly. Of these, at the time of writing, about 203,121,910 were in circulation. It is worth noting that these cryptocurrencies aren’t mined instead, they are earned through staking.
Two private sales were held in January 2017, afterwards a public sale in April of that year. This raised a total of $16 million, which is the equivalent of about $0.10 per ATOM.
Breaking down the token distribution, about 80% was allocated to investors, while the remaining 20% was split between two companies: All In Bits and the Interchain Foundation.
Cosmos juxtaposed ATOM tokens to the ASICs that are used to mine Bitcoin. A technical paper written and published by the Tendermint team explained: “It is a piece of virtualized hardware (economic capital) that you need to obtain in order to participate as a keeper in the network.
How Is The Cosmos Network Secured?
Earlier, we mentioned Cosmos uses a proof-of-stake consensus algorithm. Validator nodes that stake an increased quantity of ATOM tokens are more likely to be selected to confirm transactions and earn rewards.
Nodes that are found behaving in a dishonest manner are disciplined and they can end up losing the tokens they had at stake.
Where Can You Buy Atom Coin?
ATOM coin is now available across several major exchanges. You can buy ATOM on the following exchanges;
Cosmos Price Prediction, Will Atom Go Up?
Will Atom Price Hit $80 in 2021?
- Bullish ATOM price prediction ranges from $43.85 to $66.41.
- Cosmos ATOM prices might also reach $80 within 2022
- Cosmos ATOM bearish market price prediction for 2021 is $15.138.
Cosmos (ATOM) Price Analysis 2021.
At the moment Cosmos holds 31st place on CoinMarketCap. However, will the latest upgrades, developments, and changes in the Cosmos ATOM blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this Cosmos ATOM price prediction article.
On the monthly timelines, Atom has been on a 2-month bearish run, the price of Atom has dropped from an all-time high of $44.63 to the current price of $22.68, about a 50% decline in 2 months.
Fortunately, it hit a minor support Level at the price point of $20.301 and formed a bullish candle for the last 24 hours. Should this bullish trend continue, Atom is going to move to the price point of $28.870 before it meets the next resistance area.
Regardless of these awesome bullish candles that have formed on ATOM/USD over the last 24 hours, markets are often unpredictable, and may want to retest the support level at price point $20.310, should that price point fail, ATOM would descend all the way to $17.339 at which point many who bought at the all-time high would panic sell and cause further plunging of ATOM.
The bearish analysis above is less likely to happen, nonetheless, it is important to keep that in mind as you invest in ATOM for your maximum profit.
Conclusion
ATOM has a very bright future ahead of it in 2021. With the current developments happening within the ATOM system, as well as in the overall cryptocurrency market, we may see ATOM reach new heights.
Bullish ATOM price prediction 2021 is $66.41. As said above, it may even reach $80 if investors have decided that ATOM is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
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