the While the prices of Bitcoin & co. to attract current, a supposedly new Coin in the Top 15 wide: the ATOM Token. Time to look at the project under the hood.
By Phillip Horch
9. May 2019BTC$6.028,00 1.98%part Facebook Twitter LinkedIn xing mail
The Cosmos project has a target on the flags in the Blockchain sector currently waiting for: to achieve interoperability. The possibility therefore, several Blockchain projects with the same Protocol work without affect each other.
Thus, each block has a grove project in the best case, a Use Case and tries to solve a specific Problem. Bitcoin – depending on whom you ask – for example, as a digital Gold, and Ethereum for Smart Contracts, and Ripple wants to take with XRP the international inter-Bank trading. However, currently all of these projects work parallel to each other, exchange there is little. In other words: they are hardly interoperable.
each of The zones and interoperability
Cosmos wants to tackle this Problem now. The goal is, so you can see it in the official White Paper of the Cosmos, in Parallel blockchains running, without these arrangements, and each of the Use Cases in your security in the way. Cosmos understands itself as a Blockchain network, which is made up of various block chains. This is the developers team referred to as “Zones”. They are relying on the tender mint BFT consensus algorithm, in order to preserve Unity in the zones.
The first of these zones of the Cosmos known as Cosmos Hub, the focal point of the block chains can dock. You, in turn, relies on the Proof-of-Stake mechanism, and if required, additional zones, expand. The latter communicates with each of the zones via an “Inter-Blockchain”Protocol. This promises to be the Portability of crypto-currencies between each of the zones.
Finally, the Cosmos platform is used especially by those of interoperability, you want to recover, also as a basis for new Blockchain projects. So Cosmos provides its users with the opportunity to make individual building blocks of their own, new block chains, to publish this and Cosmos is combine with other block chains.
of The Atom Token,
With all these (planned) interoperability, we may ask: then Why use a Token? According to the White Paper, the Atom is intended to enable the Token to the user to select, validate and delegate the Proof-of-Stake consensus mechanism. It also allows atomic Token, to pay fees in order to Spam the network to prevent.
In 2017, the team of developers released the atomic Token via ICO. The Collection of funds was in the process rapidly and successfully, Cosmos reached its Funding goal within 28 minutes, and sold 168 million tokens, while 17.3 million U.S. dollars in revenue. The Team retained a share of the 50-million-ATOM, to drive the project forward.
Already lancers projects on Cosmos
one of the already launched projects on the basis of Cosmos, the decentralised Exchange of Binance. In addition, the network lists the projects Sentinel, the Lino Network, the Stable Coin Terra, the games-application of Loom, as well as Iris-net.
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