What is Cosmos? ATOM is an interoperable project focused on building a network from various blockchains. In this article, as Kriptokoin.com, “What is Cosmos?” We will answer the question. In addition to these, we will touch on all the questions about the project.
What is Cosmos? How does it work?
It was founded in 2014 by Ethan Buchman and Jae Kwon. The established Cosmos network is a PoS blockchain mainnet. However, it consists of customizable Blockchains known as Zones. The main chain, Cosmos Hub, provides data across interconnected Zones. It also offers a common layer of security alongside asset transfers. All of this is delivered through Tendermint, Cosmos’ proprietary consensus mechanism. Accordingly, Tendermint works collaboratively using the general application interface. Additionally, fees at Cosmos are paid with ATOM.
How does Cosmos work?
The Cosmos network is divided into 3 different layers. Accordingly, the 3 layers are combined with a group of open source tools and applications. These:
- 1. Networking – It allows transaction confirmation and other reconciliation messages to communicate with central blockchains.
- 2. Application – It updates the network according to new transaction and balance statuses.
- 3. Consensus – It plans the nodes how to reach consensus on adding new transactions.
Why is Tendermint important?
- Compliance against public and private blockchains. Each Zone can determine how their validators are specifically chosen and whether their blockchain will be public or permission-based.
- Fast performance. The altcoin has a block time of about 1 second. Also, it can handle thousands of transactions per second.
- Direct transaction termination feature.
- Security
What is Cosmos? How to get ATOM?
It is listed on many crypto currency exchanges such as ATOM, Binance. Users who want to invest in this project must first complete the KYC and AML processes. After completing the account creation steps, search ATOM and choose a trading pair that suits you. Then select the order type you want to use and enter the quantity you want to buy. Finally, after checking your order information, complete your purchase.
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