It managed to raise $16 million, and this founded the creation of what the Cosmos aims to achieve through its proof of stake algorithms implemented within the cosmos ecosystem. Then you also have the Interchain Foundation (ICF) that is a Swiss non-profit that funds open-source blockchain projects.Īn interesting aspect about the creation of ATOM is the fact that the Interchain Foundation actually held a two-week ICO (Initial Coin Offering), which included the ATOM token in 2017. This is due to the fact that blockchains have the potential to, over time, have mainstream adoption, and when they do, they will need to be able to keep up with the demand alongside the existing payment processing a lot of companies or websites require.ĭevelopers known as Jae Kwon, Zarko Milosevicand Ethan Buchman are the co-founder of the Cosmos network, which they founded in 2014. Stability is also one of the main priorities of this project, which means that more transactions can be processed in a second than blockchains built on older methods. The development kit it offers focuses on modularity as a result and allows the network to be easily built through the usage of chunks of code that are already in existence. This is where ATOM comes into the big picture, as The Cosmos Hub is essentially this proof-of-stake blockchain that is powered by the ATOM token.Ĭosmos can be described in some cases as Blockchain 3.0, which has the goal of ensuring that its infrastructure is as straightforward to use as possible. The Cosmos Hub maintains a record of the state of every zone. Instead of focusing on a single network, Cosmos focuses on an ecosystem of networks, all of which have this ability to share data as well as token programmatically without any central party that facilitates the activity.Įvery new independent blockchain created in Cosmos is known as a zone that is tethered to the Cosmos Hub. Cosmos is a project that has the main aim of creating a network of crypto networks, all of which can be combined through open-source tools that streamline the transactions between them.
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