The crypto currency Cosmos (ATOM) is currently the most successful coin in the crypto top 30 according to Solana (SOL Coinmarketcap.com: Within the last 24 hours Cosmos was able to gain a whopping 26% – following an already strong week with increases of around 25%. How high can Cosmos (ATOM) rise now? Is the coin ready for an extended rally? ATOM is currently trading more than 21% below its all-time high of $ 32.14 reached on May 7. Is it possible to return to old highs? We introduce Cosmos (ATOM) and say: What is Cosmos (ATOM)? Why is Cosmos special? Who invented Cosmos? What do traders and analysts say about Cosmos? And: What are the Cosmos price forecasts-from 2021 to 2028?
What is Cosmos (ATOM)?
The developers describe Cosmos as “an ever-expanding ecosystem of interconnected applications and services designed for a decentralized future.”
Cosmos sees itself as “the Internet of blockchains” – an ecosystem of applications and services that exchange digital assets and data using the IBC (Inter-Blockchain Communication) protocol. Cosmos aims to make the global economy more resilient through decentralization, more accountable through transparency, and more efficient through programmable value. According to the developers, the future economy consists of more than a million interconnected blockchains, which are used to exchange digitized real values and scarce digital values.
In other words: Cosmos is a decentralized network of standalone, parallel blockchains that are scalable and can interact with each other. The first blockchain in this network is the Cosmos Hub. The Cosmos Hub connects to other blockchains via a novel inter-blockchain communication protocol and tracks numerous token types. Tokens, in turn, can be transferred securely and quickly from one blockchain to another without the blockchains having to exchange liquidity. Because: All coin transfers run through the Cosmos Hub.
So Cosmos wants to let blockchains talk to each other. Without Cosmos, blockchains are isolated and cannot communicate with each other, according to the ATOM developers. It is time-consuming to create them. Also, you could only process a small number of transactions per second. Cosmos has made it its goal to solve these problems. In addition, the development of blockchain applications should be made more user-friendly by a modular framework.
This seems to be hitting a nerve in the developer community, as hundreds of blockchain projects are already building on Cosmos – including Binance Chain (BNB), Terra (LUNA), Crypto.com Coin (CRO), Cosmos Hub (ATOM) and many more. According to the Cosmos homepage, there are currently 249 apps and services. You can find a complete list of all apps, blockchains and wallets in the Cosmos ecosystem here.
What distinguishes Cosmos (ATOM)?
Many crypto analysts consider it a problem that there are hundreds of blockchains, but very few of them can communicate with each other. It is precisely this fundamental problem that Cosmos wants to solve. One step along the way is to make development as simple as possible. For this, Cosmos relies on modularity. Developers can conveniently and easily build a network using existing code blocks. In addition, Cosmos attaches great importance to speed. According to the developers, significantly more transactions per second (TPS) can be processed than is currently the case with Ethereum, for example.
Cosmos wants to optimize blockchains in three areas: Independence, scalability and sustainability. But what does that mean?
- Independence. The nature of today’s blockchains ensures that most activity takes place on a single chain. According to the Cosmos developers, however, this approach leads to centralization, running costs for developers of smart contracts that build on these chains-and ultimately high fees for users of overloaded chains. The Cosmos SDK, on the other hand, is free and gives developers the freedom to build blockchain apps.
- Scalability. Regardless of how many transactions per second a blockchain can boast, the Cosmos developers guarantee: At Cosmos, developers have the opportunity to improve throughput even further. This is to be achieved through so-called horizontal scalability. This could be achieved either by duplicating a blockchain to reduce congestion – or by splitting a blockchain’s apps into several “application-specific blockchains”. By transferring tokens between the blockchains, it is finally possible to manage the different chains as “one network”.
- Sustainability: Cosmos blockchains use an efficient Proof-of-stake (PoS) consensus algorithm to secure the network. Proof-of-stake is considered more environmentally friendly compared to “proof of work”. According to the Cosmos developers, the carbon footprint of Cosmos is more than 99% smaller than that of e.g. Bitcoin.
Who invented Cosmos (ATOM)?
Cosmos (ATOM) was originally developed in 2014 by the company Tendermint. Over the years, many more teams joined. Cosmos is also supported by the Interchain Foundation. In addition, the following core development teams work on Cosmos: Agoric, Akash, Althea, Chainapsis, ChainSafe, Confio, Informal Systems, Interchain GmbH, Iqlusion, IRIS Network, PeggyJV, Regen Network, Sikka, SnowFork, Tendermint, VitWit, Zondax.
What do traders and analysts say about Cosmos (ATOM)?
“Guy”, the pseudonymous presenter of the popular Youtube channel “Coin Bureau”, considers Cosmos( ATOM) a “gamechanger”, as he explains in this analysis:
Professional trader Michaël van de Poppe (@CryptoMichNL on Twitter), on the other hand, writes to his more than 383,000 Twitter followers about the latest rally of Cosmos: This feels like we are heavy in the bull cycle again.
Feels like we’re in the bull cycle heavily again.
– Michaël van de Poppe (@CryptoMichNL) August 31, 2021
Top traders “ShardiB2” commented ATOM’s course explosion only with: It is not allowed to oversleep ATOM.
Cosmos (ATOM) Price Forecasts 2021-2028
Currently (time of this article) Cosmos (ATOM) is trading at $ 23.85 after a strong push up as mentioned, the all-time high is $ 32.14. What are the price forecasts for Cosmos (ATOM)?
- CoinCodex.com is generally bullish on Cosmos. According to it, 29 technical analysis indicators signal bullish signals, against which there are 0 bearish signals.
- WalletInvestor.com considers Cosmos a” very good ” long-term investment. The 1-year forecast sees Cosmos initially rising to $ 32.49. According to the 5-year forecast, a rate of $ 81.34 is possible for Cosmos until 2026.
- DigitalCoinPrice.com expects a sustained increase at Cosmos: by the end of 2021, the forecast predicts a Cosmos rate of $ 35.18. Already in 2022, ATOM will exceed the 40 dollar mark, then in 2023 it will be quoted at 51.23 dollars. in 2024, the NUCLEAR price is forecast to move to 57.52 dollars, and in 2025 it will even rise to 72.56 dollars. Until the end of 2028 says DigitalCoinPrice.com finally, a Cosmos rate of $ 104.04 ahead.
- Gov. Capital delivers the most optimistic ATOM forecast: Here Cosmos rises to $ 42.85 within the next 12 months. And the 5-year forecast considers a rate of $ 215.46 to be achievable at Cosmos by 2026. Based on the current price of $ 23.85, this corresponds to a Increase by 803%.
Last updated on August 31, 2021
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