Historically, the age of the blockchain industry can only be called infancy. Early blockchains systematically face challenges, the most pressing of which are scalability, speed, high fees, and high power consumption. A new industry needs innovation, and Cosmos is positioning itself as an alternative to the cumbersome Proof of Work protocol.
Cosmos is primarily a blockchain that serves as a link between other blockchains, based on Cosmos, you can easily build a decentralized application or your own blockchain using ready-made code snippets. The “Digital Constructor” Cosmos not only speeds up and reduces the cost of development, but also provides the ability for a new element to interact with other elements within the ecosystem and external blockchains.
Space was created to solve the problems of usability, scalability and fragmentation of the industry as a whole. The open source tools Tendermint and Cosmos SDK make it easy to develop scalable, secure, and interoperable blockchain applications and enable unlimited interoperability on and off the network.
The core of Tendermint is connected to the Application Block Chain Interface, and makes it possible to create applications in any programming language. An application or blockchain based on Tendermint can interact with blockchains that are not part of the Cosmos ecosystem, such as Ethereum. That is, using the Tendermint core, the developer does not have to worry about consensus, security and compatibility, but can focus on his product and create it using any programming language.
ATOM – Cosmos network token
The security of Cosmos Hub, the project’s flagship blockchain, is based on a hybrid version of the Proof of Stake algorithm. Validator nodes stake ATOM tokens and are rewarded for validating transactions. The probability of being selected to verify transactions depends on the size of the bet. If a node acts dishonestly, it is punished, up to the withdrawal of the staked tokens.
In addition, ATOM tokens give their owners the right to vote for the further directions of the project development.
ATOM exchange rate forecast for 2023
At the time of writing, ATOM is trading at $26.3 and occupies the 21st position in the ranking of the largest cryptocurrencies. In the short term, a retest of the December low at a level just above $21 per coin is not ruled out.
In general, analysts are optimistic. Among the likely growth scenarios, a high of $44.65 is being considered. The expected average annual price will be around $39 per token.
Some experts believe that ATOM may rise sharply in the coming months and cite fantastic figures of $150 and even $180. While the market is in a phase of uncertainty, such forecasts should be treated with healthy skepticism.
How to exchange ATOM for other cryptocurrencies
The coin is quite widely represented on major exchanges in trading pairs with BTC, ETH, dollar stablecoins and fiat currencies. In particular, you can exchange ATOM to BTC on Binance, Poloniex, Gate.io, KuCoin, Coinbase.
If you have not yet registered on any of the platforms that support the cryptocurrency trading pairs you need, you need to create an account and verify it on demand. After completing all the necessary procedures, you need to:
- Top up the deposit.
- Select the desired trading pair.
- Create an order to sell ATOM.
- After the order is executed, withdraw funds to an external wallet, unless you are actively trading.
LetsExchange – an alternative to traditional exchanges
Mandatory account registration is not always acceptable. If this is your case, the crypto exchange platform LetsExchange will come to the rescue.
To access the functionality of the platform, you do not need to create an account. All you need to do is fill in the fields of the exchange widget in sequence:
- In the upper field, indicate ATOM and the amount of coins for sale.
- In the lower field, select the coin you need.
- Specify the address of your crypto wallet.
- Send coins for deposit.
- Press the “Exchange” button.
All other actions are performed automatically. After the transaction is completed, the purchased coins will be credited to your wallet. The platform supports over 350 coins and tokens and you can make any number of transactions for any amount.