Cosmos (ATOM)
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Cosmos (ATOM)

RugPull: Scam Blockchains + Ethereum

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Home » Cosmos (ATOM)

Pros
  • Inter-operable blockchain network.
  • Allows multi-chain deployment of applications across different blockchains.
  • Highly scalable and transparent.
  • The blockchain continues to function even if one network experiences some error.
  • Fees can be paid in a combination of tokens.
  • A modular network ensures greater flexibility for developers.
  • Allows cross-chain transfer of tokens through bridges.
  • Highly secure and decentralized.
  • Each blockchain retains its governance and sovereignty.
Cons
  • ATOM tokens need to be staked for a minimum period of 3 weeks.

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Cosmos Token (ATOM) in a nutshell

The Cosmos (ATOM) token is the native token of the Cosmos blockchain. It has diverse use cases and is used for governance and staking inside the Cosmos system. ATOM is also used for paying fees either individually or in combination inside the Cosmos ecosystem. The Cosmos blockchain is a decentralized network of different blockchains (hubs) and is widely perceived as the third generation blockchain. 

The highly advanced Cosmos blockchain has become very popular and many networks are getting onboard the Cosmos ecosystem. The ATOM token has also delivered decent returns and is becoming popular among cryptocurrency investors.

Tokenomics

The total supply of ATOM is 287.9 M and the tokenomics is explained below. 

Cosmos Fundraiser:75%

Lead donors: 5%

Cosmos Network Foundation:10%

ALL IN BITS, Inc: 10%

After the genesis round, one-third of the total ATOM supply will be rewarded to validators and delegators every year. 

Has Cosmos Token been audited and doxxed?

Atom turned out to be a rugpull scam.

Detailed Review of Cosmos Token (ATOM)

The Cosmos blockchain seeks to solve an important issue that is plaguing most networks today. It is the world’s first interoperable blockchain network solutions system that seeks to make it possible for developers to interconnect with different blockchains. Tokens can also be transferred across blockchains by making use of bridges. 

The Cosmos network proposes interconnection through zones and Cosmos Hub (ATOM) is the first among such proposed zones. The hubs will connect with each other through what is known as the inter-blockchain communication (IBC) protocol. It utilizes a novel consensus approach known as the Tendermint system. 

One of the major advantages of the Cosmos blockchain is that since the entire network is compartmentalized into various zones, the network can still function even if one chain undergoes failure or experiences difficulties in connection. All inter-zone transfers will be processed through the Cosmos hub that acts as a data center and is also used for record-keeping. 

The protocol allows for independent governance of various zones so the total blockchain can be viewed as mini-hubs retained inside a bigger blockchain empire represented by the Cosmos hub. 

The Cosmos blockchain is seen as the next-generation network since it allows multi-chain applications systems. Very often, developers face a constant dilemma. They wish to utilize the features of one blockchain while also preferring another feature of a separate blockchain. At present, the application needs to be deployed separately on various blockchains presenting great difficulty for developers. Cosmos removes this need by allowing easy bridging or cross-chain hubs between different networks.

The transaction fees on the network determined by validators and delegators can also be a combination of tokens providing greater flexibility in running dApps. 

The ATOM token is the native token of the network and can be staked to prevent spam and secure the network.  The ATOM token can also be used to pay fees for using the network and is also used for governance purposes. 

The Cosmos network is highly scalable and is suited for the next generation of applications that will require more bandwidth and large blockchains. 

The Binance smart chain has recently shifted to the Tendermint system of Cosmos providing a great boost to the ATOM ecosystem. This move was also necessitated largely due to the high fees and slow transaction times on the Ethereum network. Defi solutions KAVA and Terra have also adopted the Cosmos network. 

The Cosmos network also supports an in-house decentralized exchange Gravity DEX that further expands usecases for the ATOM token. 

Where to Buy Cosmos Token?

The ATOM token is available on most exchanges. It is a popular cryptocurrency and you can buy ATOM on some leading exchanges including Gate.io, LBank, Latoken, Biconomy, BitMart, Binance, Coinbase, OKEx, Kraken, Huobi, Bybit, Poloniex, FTX, CoinDCX, Pocketbits, Whitebit, HitBTC, BitStamp, Woonetwork, TokoCrypto, WazirX, Bitfinex, Bittrex, Bitbns, eToro, Crypto.Com, and HotBit.  

You can buy ATOM either through cash via P2P (peer to peer), credit or debit cards, or through other cryptocurrencies. 

If you already hold some crypto, then you can use the coins to purchase ATOM directly through a supported decentralized exchange known as Uniswap. All you need to do is connect your wallet such as metamask and select the appropriate coin pair that you wish to use for purchasing ATOM (for example: BTC/ATOM or ETH/ATOM). The decentralized exchanges are a quicker and easier method that guarantees anonymity as you do not have to deposit fiat currencies or complete a KYC process before purchasing the Cosmos Token. You can also use ATOM for purchasing other altcoins through the decentralized route as explained above. 

What Can you do With the Cosmos Token? 

Hodl as a long term investor: You could simply hodl it and gain from its price appreciation in the long term. The Cosmos network is still new and is being widely adopted slowly by different blcokchains. Many veteran investors believe that as the popularity of the Cosmos network expands, so will the value of the ATOM token. 

Use ATOM to pay for goods and services: The ATOM cryptocurrency is supported by many payment carriers and can be used to pay directly for goods and services. It provides a quick and near-instant method for settling payments.

Swap ATOM to other BSC/ETH tokens: You can use ATOM and directly swap to other altcoins on a decentralized exchange. The process is quick and simple and is described below. 

How to Swap ATOM to other altcoins

Simply head over to a decentralized exchange and connect your wallet. Then, select the amount of ATOM you wish to spend (factoring in transaction fees) and swap for another crypto token. You will receive the tokens in the same wallet. 

Staking: The ATOM tokens can also be staked to earn a passive income. The hodlers get rewarded in additional tokens for helping to secure the network. The hodlers are also eligible to receive airdrops from other networks as they onboard the Cosmos chain. 

How to Buy ATOM?

In order to buy ATOM, you will need to use a centralized exchange or a decentralized exchange. Decentralized exchanges (DEXs) are simple and easy to use and do not require any registration. The process of token swap on DEXs has been explained above.

For purchasing ATOM on a centralized exchange, you will need to register and create an account with the exchange and then deposit fiat currencies or crypto assets that can be used to buy ATOM. You will need to complete the Know Your Customer (KYC) procedure to open an account on a centralized exchange.

Steps to open an account on a centralized exchange:

1. Go to the exchange site where ATOM is listed and click on the Register button. 

2. Then select your country of residence and proceed to the registration interface. Here, you will need to provide your email ID/phone number and a password that will be used to login into the newly created account. 

3. Click on the agree to terms and conditions button and wait for the verification mail or message. 

4. Clicking on the verification tab will take you to your new account. You will need to provide documentation such as a driving license, passport, or other government-issued IDs to confirm your identity and address. A utility bill and national ID may also be accepted in some cases. This process is known as the KYC regulation and it is in place to prevent the risk of fraud and to ensure that the site is safe for all users. 

5. Once this additional step is completed, the exchange will activate your account and you can deposit funds to start trading. You can select fiat currencies or cryptocurrencies supported by the exchange to deposit funds to buy ATOM. 

6. Most exchanges support multiple payment methods including credit/debit cards, bank transfers, third-party payment processors, and P2P transfers. 

Upcoming Events/Launches 

ATOM holders are eligible to receive $SPQR airdrops. All holders currently staking ATOM will be eligible to receive the airdrop.  

Token Price

The all-time high price of one ATOM was $44.45 on January 17, 2022. It is currently trading at $30.33 at the time of writing (Source: CoinGecko). The all-time low price was $1.16 on March 13, 2020. Comparing the all-time low and the all-time high price, we get returns of about 2516% which are very impressive returns. The ATOM token has established its position as a leading cryptocurrency. 

The ATOM price can be checked on sites like CoinGecko and CoinMarketCap

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