Cosmos Hub Price

What Is Cosmos?

Cosmos is a crypto platform that believes in the power of collaboration. It bridges independent blockchains and provides developers with a powerful array of tools (e.g., Cosmos SDK) to help them build blockchains and various decentralized applications (DApps).

According to the platform, its unique concept Internet of Blockchains (similar to IoT, or the internet of things) creates an interconnection between different blockchains, enabling them to transact, share data, and communicate with one another. Cosmos believes that interoperability among blockchains will help maximize their usage and functionalities, and help elevate the decentralized economy to greater heights.

Who Is the Founder of Cosmos?

Tendermint (now known as Ignite), Cosmos' parent company, was founded by trio Jae Kwon, Zarko Milosevic and Ethan Buchman. Kwon was the CEO of Tendermint until he stepped down in 2020, and one of Cosmos’ core contributors, Peng Zhong, took over.

What Is ATOM Used For?

Native to Cosmos Network, ATOM serves primarily as a utility and governance token. Apart from enabling all transactions within the Cosmos ecosystem, the cryptocurrency is used to execute smart contracts within the Cosmos Hub (more on that later).

ATOM is also used for staking purposes on the Cosmos Hub, and validators who look after the Cosmos Hub can obtain voting authority through ATOM bonding.

ATOM Price and Tokenomics

As of August 25, 2022, one ATOM is priced at $12.82. ATOM has a circulating supply of 286.37 million, a market cap of $3.67 billion and a 24-hour trading volume of $729.02 million.

The initial token distribution of ATOM is allocated as follows:

75%: Based on the results of the private and public fundraisers

10%: Tendermint Inc. (the company developing most of the software)

10%: The Interchain Foundation (ICF)

5%: ATOM's initial donors

How Does the Cosmos Ecosystem Work?

Cosmos comprises a network of autonomous blockchains known as zones. The Tendermint BFT consensus engine, which powers the zones, offers a high-performance, consistent and secure practical Byzantine fault tolerance (pBFT)-like consensus engine with stringent fork-accountability guarantees. As such, it is ideal for scaling public proof of stake (PoS) blockchains.

The Cosmos Hub is the name of the first zone on Cosmos. A multi-asset PoS zone, the Cosmos Hub has a no-frills governance structure that gives the network plenty of room to grow and evolve, and can be expanded via the linkage of more zones.

The Cosmos Hub, which keeps tabs on the overall number of tokens held by each zone, is where all inter-zone token transfers take place. Each zone is isolated from other zones' failures by the hub, and tokens can be moved from one zone to another securely and rapidly. Anyone can connect a new zone to the Cosmos Hub, and set the foundation to connect with new blockchain innovations in the future.

Cosmos Network's hub and zones connect via the inter-blockchain communication (IBC) protocol, which can be likened to the user datagram protocol (UDP) or transmission control protocol (TCP) utilized by other blockchains.

The entire Cosmos structure can be broken down into three layers, namely:

Application: Responsible for updates and processing transactions

Network: Permits blockchain and transaction communication

Consensus: Facilitates network agreement updates among nodes

What Makes Cosmos Unique?

Market Proposition

Market value is often derived from the efficacy of a product's solution and how well it solves it. Cosmos, however, draws its value from its ability to solve an industry-wide problem: Interoperability.

Beyond simply bridging independent blockchains are Cosmos’ state-of-the-art tools and engines, which enable developers to build blockchains in the shortest time possible while ensuring security and maintaining functionality.

Tendermint BFT Engine

The Tendermint BFT engine on the Cosmos blockchain combines the network and consensus layers, making it easier to build blockchains at a faster rate.

Strong Developer Base

A strong and growing participation base is critical to a platform's value. Cosmos' Tendermint BFT engine is a technological beauty that developers won't be able to easily pass up. This has been reflected in the growing number of blockchains and blockchain applications developed on Cosmos’ blockchains.

How to Store ATOM

When it comes to choosing a crypto wallet, two important things to look for are:

1) security and functionality, and

2) ease when buying, selling and trading (ATOM) with other cryptocurrencies.

Hot wallets are connected to the internet, so you can carry them on your phone or have them on your desktop. Cold wallets, on the other hand, are disconnected from the internet, so your tokens are securely locked away in hardware. As a rule of thumb, cold wallets are safer than hot wallets.

How to Buy ATOM

You can buy ATOM from any leading crypto exchange, including Bybit.

Buying ATOM on Bybit

To purchase ATOM on the Bybit exchange, follow these simple steps:

Head to Bybit’s spot trading page (Home → Trade → Spot Trading).

Select your trading pair on the left side of the page. You can trade ATOM with USDT (ATOM/USDT).

Choose the type of order you’d like: Limit Order, Market Order or Conditional Order.

For Limit Orders:

1. Select Limit.
2. Enter the order price.
3. Enter the number of ATOM you wish to buy.
4. Click on Buy ATOM.
5. Once you’ve confirmed your information is correct, click on Buy ATOM.
6. View your order details under Active on the web page, or Orders if you’re using the Bybit app.

For Market Orders:

1. Select Market.
2. Enter the amount of USDT you’ve paid to buy ATOM.
3. Click on Buy ATOM.
4. Once you’ve confirmed your information is correct, click on Buy ATOM.
5. View your order details under Filled.

For Conditional Orders:

1. Select Conditional.
2. Enter the trigger price.
3. Choose to execute at Market Price or Limit Price.
   1. Market Price: Order price doesn’t need to be set.
   2. Limit Price: Order price needs to be set.
4. According to order types:
   1. Market Buy: Enter the amount in USDT you’ve paid to buy ATOM.
   2. Limit Buy: Enter the number of ATOM you want to buy.
5. Click on Buy ATOM.
6. Once you’ve confirmed your information is correct, click on Buy ATOM.
7. View your order details under Conditional on the web page, or All Orders → Current Orders on the Bybit app.

For more help, visit the Bybit spot trading guide.