Friday, March 29, 2024
by Hideo Nakamura
Rank #29
Cosmos Hub (ATOM)

Cosmos Hub ATOM

$ 12.23
0.00017466 BTC
Marketcap
$ 4,773,914,890
Volume (24h)
$ 283,388,983
Circulating Supply
390,688,370 ATOM
Total Supply
390,930,035 ATOM
All time high price: $ 44.45 72.49%
All time high date: January 17, 2022
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* Currency in USD
Historical Price for Cosmos Hub
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Cosmos Hub Markets
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ATOM

Cosmos Hub (ATOM) price has decreased -1.91% today!

Cosmos Hub (ATOM) is a cryptocurrency that operates on a blockchain. Currently, it is trading at $ 12.23 and a market capitalization of $ 4,773,914,890. The price of Cosmos Hub has decreased -1.91% in the last 24 hours. Currently, Cosmos Hub ranks #29 among all cryptocurrencies by market capitalization and has a daily trading volume of $ 283,388,983.

What is Cosmos Hub (ATOM)?

The Cosmos network consists of many independent, parallel blockchains, called zones, each powered by classical Byzantine fault-tolerant (BFT) consensus protocols like Tendermint (already used by platforms like ErisDB). Some zones act as hubs with respect to other zones, allowing many zones to interoperate through a shared hub.

The architecture is a more general application of the Bitcoin sidechains concept, using classic BFT and Proof-of-Stake algorithms, instead of Proof-of-Work.Cosmos can interoperate with multiple other applications and cryptocurrencies, something other blockchains can’t do well. By creating a new zone, you can plug any blockchain system into the Cosmos hub and pass tokens back and forth between those zones, without the need for an intermediary.

While the Cosmos Hub is a multi-asset distributed ledger, there is a special native token called the atom. Atoms have three use cases: as a spam-prevention mechanism, as staking tokens, and as a voting mechanism in governance.

As a spam prevention mechanism, Atoms are used to pay fees. The fee may be proportional to the amount of computation required by the transaction, similar to Ethereum’s concept of “gas”. Fee distribution is done in-protocol and a protocol specification is described here.

As staking tokens, Atoms can be “bonded” in order to earn block rewards. The economic security of the Cosmos Hub is a function of the amount of Atoms staked. The more Atoms that are collateralized, the more “skin” there is at stake and the higher the cost of attacking the network. Thus, the more Atoms there are bonded, the greater the economic security of the network.

Atom holders may govern the Cosmos Hub by voting on proposals with their staked Atoms.

To learn more about Cosmos Hub (ATOM), you may:

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