The Cosmos network is a decentralized network that consists of sovereign blockchains that can scale and interact with other blockchains within the ecosystem. The network uses the Byzantine Fault-Tolerant (BFT) proof-of-stake consensus algorithm, Tendermint. Tendermint BFT secures the Cosmos Hub and the Cosmos SDK (software development kit). The Cosmos Hub provides interchain security, token exchange and token custodianship. The Cosmos SDK is an open-source framework used for building multi-asset public proof-of-stake (PoS) blockchains.
The Cosmos network aims to create an “internet of blockchains” where each blockchain can remain sovereign while interoperating. It also allows blockchain applications to achieve scalability and sustainability to accelerate adoption and use-case experimentation. Cosmos offers scalability solutions by duplicating a blockchain or separating the apps into application-specific blockchains to reduce congestion. Its proof-of-stake (PoS) consensus algorithm also helps reduce carbon footprint compared to proof-of-work (PoW) blockchains.
ATOM is the native token of the Cosmos Hub that secures its interchain services. ATOM holders can stake their tokens and earn more ATOM as a reward. The market cap of ATOM now stands at about $3.4 billion, with over ATOM 292 million tokens in circulation (as of late March 2023). ATOM’s all-time high (ATH) price peaked at $44.45 in January 2022 and is now trading at about $11.64. (as of late March 2023).
Cosmos (ATOM) token (BEP-20) is available on the Matrixport app; alongside other blue-chip cryptocurrencies like Bitcoin (BTC), Ether (ETH), Stablecoins (USDT & USDC), and many more. Users can deposit, withdraw and transfer ATOM on the app.
About Matrixport
Matrixport is one of the world’s largest and most trusted digital assets ecosystems providing one-stop crypto financial services to meet the emerging needs of generating long-term wealth in digital assets. It forges strategic collaborations with early-stage Web3 innovators, helping them build, grow and scale and the company’s services include Cactus Custody™, spot OTC, fixed income, structured products (including Dual Currency), lending as well as asset management.
With USD4B in actively managed digital assets, Matrixport achieved a pre-money unicorn valuation in 2021 and was named by CB Insights as the 50 most promising blockchain companies in the world in 2022. Its digital prime brokerage business, Matrixport Institutional, serves 500+ institutions across the US, Europe and Asia, offering best-in-class access, leverage, capital Introduction and custody services.
Headquartered in Singapore, the company holds a Hong Kong Trust Company License and a Swiss FINMA SRO-VQF Membership. For more information, visit www.matrixport.com.