Cosmos is an asset developed in partnership with Blockchain Communication Protocol (IBC) and California-based startup Tendermint. It aims to be the basis of an innovative internet technology. It can be explained as an independent system for blockchain.
The working principle of Cosmos is bringing together cryptocurrencies. It makes the blockchain system especially available for the money exchange. The token used by the network is called Atom.
Launched on March 14, 2019, Cosmos has been a successful project. Of course, it does not have a flawless structure. Two was introduced as a Powerful project but it was not without problems. It had a structure consisting of two layers, but it was mentioned that two more layers would be added.
What is the infrastructure of Cosmos?
Let’s talk about two layers of the Cosmos:
Tendermint, the first tier, is an open source base that focuses on blockchain development. Anyone who has this app has the right to integrate their decentralized and BFT compatible ideas into this base.
Blockchain Communication Protocol can be defined as an interconnection layer that provides communication between all independent chains. The chains in this layer are independent but have common system architecture. Coin is the key to digital asset and data sharing.
Although it is claimed that there are vulnerabilities in the system, facing an attack threat in the summer of 2019, it is acclaimed in the global economy by many analysts. Moreover, efforts to expand the layer are continued in order to strengthen the system. When it reaches to the desired level, another asset with an independent structure is expected to rival Ethereum.
How does the Cosmos system work, what is its value?
Since Cosmos became operational, it has been able to run all decentralized applications. Thanks to the developed BFT PoS system, all transactions ranging from financial applications to social media are handled in seconds.
The local cryptocurrency of the Cosmos Network system is referred to as Atom. The market value of Atom is $ 850,756,294; 24-hour trade volume is $ 112,172,850. On the date of writing, Atom’s purchase value is at ₺ 26.38, which equals to $4.44.
How to buy Cosmos
You can buy Atom from overseas market platforms such as Binance, BitForex, Huobi Global, Dcoin, Kraken and OKEx. It is not yet sold on platforms in Turkey.
You can use crypto types such as BTC, ETH, USDT, EUR and KRW for trading.