Cosmos chain was launched in 2019 by the founder Ethan Buchman. Cosmos is a network of independent parallel blockchains that are each powered by classical BFT consensus algorithms like Tendermint. The Cosmos Hub will be the network’s first blockchain. A revolutionary inter-blockchain communication protocol allows The Cosmos Hub to communicate with a large number of other blockchains (or zones). Numerous token subtypes are tracked by the Cosmos Hub, which also keeps tabs on the total quantity of tokens in each connected zone. Due to the fact that all inter-zone coin transfers pass through the Cosmos Hub, tokens can be transferred from one zone to another securely and rapidly without the need for a liquid exchange across zones.
Numerous issues in the blockchain arena are resolved by COSMOS design, including application interoperability, scalability, and smooth upgradeability. Zones derived from any blockchain system, such as Bitcoind, Go-Ethereum, CryptoNote, ZCash, or another one, can be connected into the Cosmos Hub. These zones enable Cosmos to scale infinitely to meet the demand for transactions worldwide. The Tendermint open-source project was born in 2014 to address the speed, scalability, and environmental issues of Bitcoin’s proof-ofwork consensus algorithm.
Unlike Bitcoin or other proof-of-work blockchains, a Tendermint blockchain gets slower with more validators due to the increased communication complexity. Fortunately, we can support enough validators to make for a robust globally distributed blockchain with very fast transaction confirmation times, and, as bandwidth, storage, and parallel compute capacity increases, we will be able to support more validators in the future.
Tokenomics
The total supply of ATOM token is at 292,590,000. The ATOM token does not have a maximum supply and issues inflationary token rewards to incentivize a target supply of the amount of ATOM staked.
ATOM is available for Staking, and you can earn up to 30.0% APY on following exchanges.
Benefits of COSMOS (ATOM)
Data, smart contracts, and other applications may be transferred between blockchains more easily with the support of interoperability offered by COSMOS.
Governance-
Distributed public ledgers ought to be governed by a constitution. The Bitcoin Foundation and miners are responsible for coordinating improvements, although this is a slow process. Because there was neither a prior social contract nor a system for making such decisions, Ethereum hard forked into ETH and ETC in response to the TheDAO hack. The Cosmos network offers its users complete flexibility and the opportunity for permissionless experimentation by facilitating interoperability among various regulatory zones.
Ethereum Scaling-
Ethereum still has a scaling issue that has to be resolved. Ethereum nodes currently process each transaction and keep track of all the states. EVM zones driven by Tendermint consensus and running on bridged-ether can give Ethereum blockchains better performance because Tendermint can commit blocks considerably faster than Ethereum’s proof-of-work. The Cosmos Hub and IBC packet mechanics can also be used to coordinate token transfers across Ethereum contracts running in various zones, even if they do not permit the execution of arbitrary contract logic per se. This lays the groundwork for token centric Ethereum scalability through sharding.
Recent Developments
In October 2022, Cosmos community have started development of ATOM 2.0 cosmos hub to enhance the efficiency of cosmos network through interchain security.
Cosmos is partnering with Forte to provide COSMOS network- access to a wider audience and exposure in gaming industry. Under this, Forte will add ATOM coins to its payment options in its platform.
COSMOS network is supported by its scalable & interoperable blockchain stack which is utilized by Asia Digital Bank Ltd (Labuan Investment Bank) in partnership with Bianjie (a tech company) to expand its digital infrastructure.
ATOM Price Predictions
As of the time of writing ATOM was trading at around $9.90. The coin is already 55.0% down from its all-time high of $44.70. With growing adoption of cryptocurrencies for boosting digital payments at banks and financial institutions and several countries now testing central bank digital currencies. Thus, ATOM is forecasted to surpass its all-time high in the near future.
Further, the growing benefits of sharding and interoperability are also expected to foster the demand for ATOM token in the coming years. Thus, ATOM is projected to reach $100 in the next 4-5 years.