Cosmos (ATOM) Price Hiked by 12% in 24 Hours

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ATOM Price Today: Among many cryptocurrencies, Cosmos which is generally referred as ATOM has been hiked by more than 12% in past 24 hours. The reason for increase in the price of this coin ATOM is because the team is at the start of this amazing journey with so many exciting plans on the horizon & plenty of developments already in the pipeline for 2022.

The Cosmos network consists of many independent, parallel blockchains, called zones, each powered by classical Byzantine fault-tolerant (BFT) consensus protocols like Tendermint (already used by platforms like ErisDB). Some zones act as hubs with respect to other zones, allowing many zones to interoperate through a shared hub.

Cosmos (ATOM)
Cosmos (ATOM)

The price of the coin Cosmos (ATOM) is $30.40 at the time of writing this article. The market cap of ATOM is $8,618,796,877. The coin in trading volume is $579,630,807. This coin has reached its maximum value of $44.42 during 2021. Following Cosmos (ATOM) coin news, it has reached more traders and the price suddenly hiked up by 12%.

Where to Buy Cosmos (ATOM) crypto?

Cosmos (ATOM) can be bought and sold on various exchange sites such as Osmosis, Coinbase Exchange, Binance, Gate.io, Bitbns, Toko Crypto, AEX, BKEX, Bitfinex, Bitrue, Bithumb, HitBTC, FTX, KuCoin, Huobi Global for the exchange of USDT, BTC, ETH, KRW, EUR, OSMO, and so on. In the coin market cap, the coin ATOM is ranked at 24th position.

About Cosmos (ATOM) Coin

Cosmos price today is $30.51 with a 24-hour trading volume of $581,518,397. ATOM price is up 12.2% in the last 24 hours. It has a circulating supply of 280 Million ATOM coins and a total supply of ∞. If you are looking to buy or sell Cosmos, Osmosis is currently the most active exchange.

The architecture is a more general application of the Bitcoin sidechains concept, using classic BFT and Proof-of-Stake algorithms, instead of Proof-of-Work.Cosmos can interoperate with multiple other applications and cryptocurrencies, something other blockchains can’t do well. By creating a new zone, you can plug any blockchain system into the Cosmos hub and pass tokens back and forth between those zones, without the need for an intermediary.

While the Cosmos Hub is a multi-asset distributed ledger, there is a special native token called the atom. Atoms have three use cases: as a spam-prevention mechanism, as staking tokens, and as a voting mechanism in governance.

As a spam prevention mechanism, Atoms are used to pay fees. The fee may be proportional to the amount of computation required by the transaction, similar to Ethereum’s concept of “gas”. Fee distribution is done in-protocol and a protocol specification is described here.

As staking tokens, Atoms can be “bonded” in order to earn block rewards. The economic security of the Cosmos Hub is a function of the amount of Atoms staked. The more Atoms that are collateralized, the more “skin” there is at stake and the higher the cost of attacking the network. Thus, the more Atoms there are bonded, the greater the economic security of the network.

Atom holders may govern the Cosmos Hub by voting on proposals with their staked Atoms.

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Bhuvana
Bhuvi is a passionate blogger, working on many news websites as a freelance writer. She covers sports news in TRENDING NEWS.

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