What is Cosmos (ATOM)?
Cosmos (ATOM) is a cryptocurrency that powers an ecosystem of blockchains designed to scale and interoperate with each other. The team aims to "create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized manner. Cosmos is a proof-of-stake (PoS) chain. ATOM holders can stake their tokens in order to validate and secure the network and receive ATOM tokens as a reward.
Cosmos aims to allow faster and cheaper decentralized applications — anything from an NFT marketplaces to decentralized (DeFi) exchanges — by allowing them to run on their own dedicated blockchains.
All of these independent blockchains (known as “zones”) are interconnected by the Inter-Blockchain Communication protocol (IBC). Cosmos also provides developers with pre-built modules allowing them to quickly create blockchains that are completely customizable for their specific use case.
The Cosmos consensus engine, IBC protocol, and software developer kit are designed to enable ease of use and interoperability between chains, without sacrificing the security and transaction cost and speed developers would expect from other leading blockchain platforms.
Real World Example:
The ATOM token is used to secure the Cosmos network, settle transactions and as a governance token. The ATOM network allows many other blockchains to communicate together including Bitcoin, Ethereum and more.
Cosmos has been dubbed the internet of blockchains. One issue facing crypto development is that in general blockchains are poor at communicating with one another. Cosmos solves this issue and proides a massive scope for further development and interoperability which can allow blockchains to leverage one anothers strengths to grow and expand together.
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