There are now hundreds of different blockchain networks in existence, but very few of them can communicate with each other. Cosmos is a project aiming to solve this problem of interloperability between blockchains. The Cosmos team finally launched their much awaited Inter Blockchain Communication (IBC) protocol on 29 March of this year. IBC is essentially a communication protocol that permits blockchains to connect to one another. The blockchains that are IBC compatible can transfer their tokens to the Cosmos hub as well as allow ATOM to be transferred to these other blockchains. ATOM is the native currency of the Cosmos ecosystem.
Cosmos has been working on making its infrastructure uncomplicated to use. To achieve this, the Cosmos software development kit focuses on modularity. This allows a network to be easily built using chunks of code already in existence. The aim is to be the most trusted intermediary.
The founders of ATOM created Cosmos SDK and Tendermint BFT. Cosmos SDK helps in blockchain development by providing a modular toolkit for building base infrastructure and Tendermint is one of the modules enabling secure communication between blockchains.
There could be increased demand on the horizon to use the IBC protocol especially for all of those networks that have built with the Cosmos SDK or use the Tendermint Consensus Protocol including Crypto.com, Terra, Kava, Band Protocol, Injective Protocol and last but not least the Binance Smart Chain. Furthermore Cosmos has built a link between Ethereum and the Cosmos ecosystem via their Ethereum 'Peg Zone'. This development will see the seamless transfer of ERC20 tokens and Ethereum between the Ethereum chain and all of the above mentioned IBC connected networks.
Cosmos is a relatively undervalued Ethereum 2.0 diversification hedge. The project is ranked #31 in market capitalization. According to Coinmarketcap: Circulating Supply 210,716,506 ATOM / Total Supply 268,501,109 ATOM / Max Supply No Data.
The price of ATOM exploded in January of this year and hit an all time high of $28.32 (CoinGecko) on 15 April. We have seen a 28% fall from space in the price since then and ATOM is trading at $20.41 today. ATOM is camped at a flattening 50 SMA but a rising 100 SMA offers more support at $17.21. I took a position on 15 March at $19.39. You can stake your ATOM for a generous 9.88% APY. This can be done directly on Exodus Wallet. ATOM can be purchased on Coinbase PRO, Binance etc www.coingecko.com/en/coins/cosmos
This may be a good time to dip your pluto in the water.
Cosmos has been working on making its infrastructure uncomplicated to use. To achieve this, the Cosmos software development kit focuses on modularity. This allows a network to be easily built using chunks of code already in existence. The aim is to be the most trusted intermediary.
The founders of ATOM created Cosmos SDK and Tendermint BFT. Cosmos SDK helps in blockchain development by providing a modular toolkit for building base infrastructure and Tendermint is one of the modules enabling secure communication between blockchains.
There could be increased demand on the horizon to use the IBC protocol especially for all of those networks that have built with the Cosmos SDK or use the Tendermint Consensus Protocol including Crypto.com, Terra, Kava, Band Protocol, Injective Protocol and last but not least the Binance Smart Chain. Furthermore Cosmos has built a link between Ethereum and the Cosmos ecosystem via their Ethereum 'Peg Zone'. This development will see the seamless transfer of ERC20 tokens and Ethereum between the Ethereum chain and all of the above mentioned IBC connected networks.
Cosmos is a relatively undervalued Ethereum 2.0 diversification hedge. The project is ranked #31 in market capitalization. According to Coinmarketcap: Circulating Supply 210,716,506 ATOM / Total Supply 268,501,109 ATOM / Max Supply No Data.
The price of ATOM exploded in January of this year and hit an all time high of $28.32 (CoinGecko) on 15 April. We have seen a 28% fall from space in the price since then and ATOM is trading at $20.41 today. ATOM is camped at a flattening 50 SMA but a rising 100 SMA offers more support at $17.21. I took a position on 15 March at $19.39. You can stake your ATOM for a generous 9.88% APY. This can be done directly on Exodus Wallet. ATOM can be purchased on Coinbase PRO, Binance etc www.coingecko.com/en/coins/cosmos
This may be a good time to dip your pluto in the water.