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Some big names include Binance Smart Chain and. Currently, 255 apps are running on Cosmos (ATOM)’s network.
#Atom crypto how to#
It’s therefore important for a new trader to fully understand how the crypto assets industry works and how to operate in it safely. However, such is the nature of cryptocurrencies that these are highly volatile assets capable of giving their owners enormous returns with a risk of dramatic losses. It’s worth mentioning that Cosmos (ATOM) has gained almost 370% this year, which is far higher compared to the global cryptocurrency average rise of 140%. Instead, it’s earned through a hybrid proof of stake algorithm. A unique thing about Cosmos (ATOM) is that it’s not mined like other cryptocurrencies are. A total of 230 million ATOM are sold and circulated by Cosmos (ATOM), with the total daily trading volume being $40 million.
#Atom crypto series#
The series of interconnected chains created as a result act independently while sharing a common system architecture. This is the interconnectivity layer that provides communication between the different chains developed using the Tendermint Core. Tendermint is the blockchain development platform where any blockchain currency app can simply plug in using its own decentralized or distributed network. The creator of Cosmos (ATOM), All in Bits, Inc., has achieved this through two components.
![atom crypto atom crypto](https://i.pinimg.com/originals/c2/9d/11/c29d1182c45c462d339d7685eaa456e2.jpg)
While most other cryptocurrencies and exchange platforms are working on the division between the crypto industry by bringing in competition, Cosmos (ATOM) is working towards bringing these currencies and platforms together. Overview of Cosmos (ATOM) CoinĬosmos (ATOM) makes up a decentralized ecosystem comprising independent blockchains and provides the foundation for the next generation of crypto technologies.
![atom crypto atom crypto](https://i.pinimg.com/originals/ce/cf/13/cecf13fba519b51a84f34f9e6171dabb.jpg)
Understandably, this requires exceptional communication between independent blockchains to ensure consistency and security of the tokens being shared across the network. Instead, smart contracts are used to lock in tokens on one platform and produce a tokenized replica in the form of a number to be sent to the other network. The interoperability of cryptocurrencies doesn’t necessarily mean sending tokens between the networks. It’s estimated that each transaction on the network costs $0.01. It’s been designed to be scalable and to process transactions faster and cheaper. Cosmos (ATOM) has been dubbed “the internet of blockchains” because interoperability between cryptocurrencies is the driving force behind this cryptocurrency.