Cosmos is a project that aims to solve some most challenging problems faced by the blockchain industry. It offers solutions to the expensive, slow, environmentally harmful, and unscalable proof-of-work protocols using an ecosystem of connected blockchains.
ATOM is the native crypto of the Cosmos Hub, and the current market price of ATOM is $20.95 after an increase of 6.1% over 24-hours. The crypto is used to complete the transactions by executing smart contracts.
One of the crucial goals of the project is to make blockchain technology less complex. Using inter Blockchain Communication Protocol, the platform makes communication between the blockchain networks a lot easier and prevents fragmentation in the industry.
What keeps Cosmos apart from other crypto and defi projects is its focus on interoperability and customizability. Founded by Jae Kwon and Ethan Buchman, Cosmos aims to foster an ecosystem to share tokens and data without facilitating by any central party.
What problems are solved by Cosmos (ATOM)?
It aims to tackle the problem of interoperability in the market. Using Cosmos, many different blockchains can co-exist with their use cases, which allows the developers to focus more on the improvements in the blockchains instead of spending their efforts on marketing other competition-related efforts. The platform also helps different blockchains to leverage the other platforms’ capabilities for improving their usability.
Is ATOM worth investing in?
The ATOM price has now climbed up to make it the 34th largest cryptocurrency in terms of market capitalization. During its launch, the crypto started its journey by trading at around $6.5, and it began to move up since 2021 after facing a shortfall in the year 2019. In 2021, ATOM is either not immune from the crypto rally and has soared from $6.10 during January to $20.95 till April 22. Although it has slipped down many times between, its price is expected to rise further in the current year following a bull run.
ATOM can be traded on many of the exchanges, including Coinbase, OKEx, and Binance.