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- What is ATOM?
- How does ATOM ensure the privacy of its users?
- What is Tendermint?
- COSMOS network
- Who are validators and how to mine ATOM cryptocurrency?
- Advantages and disadvantages of ATOM
- ATOM and Bitcoin - basic differences
- How much is (ATOM)? On which exchanges is it listed?
- Cryptocurrency wallets for (ATOM) - which one to choose?
- Examples of cryptocurrency wallets for (ATOM)
What is ATOM?
Cosmos is an independent blockchain network that manages, inter alia, other protocols in other blockchains of other zones, incl. via Cosmos Hub, where tokens are tracked and the total number of tokens in the integrated network is registered. Thanks to this, the tokens can be transferred between zones in a safe and fast way.
An important issue in the operation of ATOM is the Tendermint consensus algorithm, which is powered by it. It is said that the construction of ATOM was created with the aim of eliminating the existing blockchain problems, e.g. hassle-free update or application interoperability.
However, in a distributed ledger there is a special token, which is called ATOM. It provides a certain license for the voter to approve or delegate other validators against new blocks in the network. It is compared that ATOM, like Ether, can also be used to pay transaction fees. In addition, ATOMs and fees are allocated to validators or delegates.
Fun fact: The creator of the COSMOS network project is Jae Kwon, who jointly developed Tendermint. However, he resigned from being active as CEO, but still became a member of the foundation that supports the COSMOS network.
How does ATOM ensure the privacy of its users?
Based on the Tendermint protocol, optimal Byzantine immunity to majority voting errors (2/3) was ensured. Moreover, it has a locking mechanism which together with the previous values provides security. This is due to from the fact that in the event of a security breach, any anomaly will be detected thanks to the protocols. An example of a violation may be, for example, the possibility of giving an unjustified vote.
What is Tendermint?
It is a consensus protocol that is necessary to create individual applications using ATOM, so it is nothing but PoS (Proof-of-Stake) consensus. Tendermint operates on the basis of two nodes that have negative and positive voting power, which are called validators, which operate in this compliance protocol. This action is created by cryptographic codes that serve as a signature of a given validator or a voice that is necessary to approve the next block in the chain.
However, how are validators granted voting rights? First of all, it should be mentioned that they are determined at the stage of development and it also depends on the application that has been designed.
A feature of Tendermint is that it is extremely simple and efficient, and each validator identifies itself via a public key. On the other hand, the voting on compliance itself is divided into several rounds, in which each has a chairman or a person proposing the next block. In this way, it will only be possible to proceed to the next block. Tendermint was established in 2014 and from the very beginning it was aimed at solving problems related to the speed of functioning or even protection of the algorithm. It is also noted that the consensus ensures fast, innovative and secured verifiability of mobile user's payments. Due to the fact that Tendermint was created in such a way that the mobile wallet could receive quick approval of all transactions, users give it a lot of trust for this reason, as proof of truthfulness is to receive payments in a very short time.
An inherent element of ATOM is the network also known as the Internet blockchain, which operates on the basis of independent block chains. Thanks to it, it is possible to communicate by means of protocols that concentrate information in the network. This is all based on the Tendermint consensus algorithm mentioned above, which is related to the blockchain.
COSMOS enables entities to program and create applications using specific IT codes. In addition, when developing an application, a tool called COSMOS SDK helps to run each successive blockchain that allows the application to be finalized. What's more, in conjunction with the IBC (Inter Blockchain Communication) protocol, it is possible to exchange information in the blockchain, which is located externally in the ecosystem. This is all thanks to the blockchain inside the COSMOS network, which concentrates the network and communication in an exchangeable way of information using smart contracts.
Who are validators and how to mine ATOM cryptocurrency?
Validators correspond to the functionality of miners who mine the Bitcoin cryptocurrency. However, an important difference here is the cryptographic signature they have and which is responsible for the vote necessary to approve the next block, so it differs from Bitcoin mining in the network.
People who are not responsible for validation can bet on the so-called "Atoms" to a specific validator. This is primarily for the possibility of earning remuneration - i.e. block fees, as well as ATOM awards. However, in the event that the validator is found to have any irregularities and it is hacked or violates the protocols, it bears the so-called cuts in these fees. The functioning of the validators is to generate security, which results from the Tendermint consensus, and each validator deposit is to ensure verifiability and security for specific nodes against other users.
In summary, all block advocacy relies on validator collaboration. It is determined that there are 100 of them in total, and if 2/3 is accepted by the block validators - it gains confirmation of adding to the chain.
Advantages and disadvantages of ATOM
Referring to the advantages, it is worth pointing to the aforementioned Tendermint, which simplifies the functionality through the possible use of it primarily mobile, so it is possible to use it wherever there is the Internet while maintaining some security. The block approval scheme is definitely more transparent compared to Bitcoin, where it is required to synchronize the chains and headers in the blocks to properly find proof of confirmation.
In addition, Tendermint is designed to have all security measures to prevent network attacks as well as prevent double spending. Undoubtedly, ATOM has the potential for further development on the cryptocurrency market and can pride itself on growing interest from users.
What's more, thanks to the COSMOS network, it is possible to program applications that are based on several languages for programmers, which means that for them it represents a great potential for the development of any applications, including: Java, C ++, Go, Solidity.
The main disadvantage, however, is the mobile dependency which is completely dependent on the Internet and mobile access. Moreover, in the absence of energy resources, it will be impossible to view the value of the accumulated cryptocurrencies. Not only does ATOM not appear physically, it is closely related to the network that may be exposed to cyber attacks.
ATOM and Bitcoin - basic differences
It should also be noted that, unlike Bitcoin or other PoW-approved cryptocurrencies (Proof-of-Work), the ATOM consensus functionality is based on a larger group of validators due to more complex communication.
ATOM vs Bitcoin - basic differences
USD Coin (ATOM)
21 000 000 BTC
2 743 668 237 USD
209 414 032 620 USD
How much is (ATOM)? On which exchanges is it listed?
It is worth mentioning that the ATOM value is currently stable. Despite numerous declines, it has not recorded a sharp upward trend since 2019. On June 3, 2019, ATOM achieved its all-time high of $ 7.23 / 1 ATOM. Below are some examples of the cryptocurrency exchanges on which ATOM is listed.
Cryptocurrency exchanges for ATOM
Trading on them takes place only through cryptocurrencies
They are traded both through cryptocurrencies and fiat currencies
Cryptocurrency wallets for (ATOM) - which one to choose?
It is worth noting that we have a wide range of wallets of various types to choose from. Although ATOM is a beginner in the cryptocurrency world, there are many options for storing and transmitting payments. It should be mentioned not only about popular wallet options, such as hardware or browser wallets, but it is also worth distinguishing less popular mobile and desktop wallets, which will also be great for storing this cryptocurrency. The possibilities of cryptocurrency wallets offered for ATOM will be presented below.
So, despite the specifics, choosing a wallet for ATOM is not a problem. It is worth mentioning one of them called Lunie, which was proposed by the COSMOS team itself and is a browser and mobile wallet that allows you to store and transmit cryptocurrencies.
Examples of cryptocurrency wallets for (ATOM)
Cryptocurrency wallets for ATOM
Hardware wallets for ATOM
They come in physical form. They are not free, therefore they may not be suitable for a novice user due to the relatively high price. It is worth getting only the originals, it is worth buying them from the manufacturer himself - to make sure that they are free from malware.
Desktop wallets for ATOM
These wallets are available on Windows or other software such as MacOS or Linux. Desktop wallets are free.
Browser wallets for ATOM
Browser wallets are free websites where you can register and then log in with your login and password.
Mobile wallets for ATOM
As the name suggests - they are characterized by mobility, they are usually phone applications that allow you to browse our cryptocurrency resource wherever there is the Internet. They are usually free. It's worth mentioning that Cosmostation is an unofficial wallet that allows access on both Android and iOS. Most of these wallets allow the so-called voting specific to a network of delegates or validators.
Include on your website a calculator Cosmos and chart ATOMUSD using the widgets below.
To run a calculator or chart on your site, please:
- Copy the code of the selected widget and paste it into the right place on your website
- You can also configure widgets as needed by modifying the parameters:
- data-crypto="" - enter a list of cryptocurrencies that will be available in the cryptocurrency calculator. Enter the cryptocurrency shortname. You can add many cryptos, e.g. BTC, ETH, TEO. You will find a list of available cryptocurrencies here. To add all cryptocurrencies - leave the tag empty.
- data-fiat="" - enter the list of FIAT currencies that will be available in the cryptocurrency calculator, you can choose multiple currencies by entering e.g. PLN, USD, EUR, GBP. To add all FIAT currencies - leave the field blank.
- Parameters are configurable for the cryptocurrency calculator. In the case of the chart, it is not possible to add many parameters (crypto or fiat).
- To use widgets, you must include a link to your source. The link is included in the above widget codes. The link should not contain the parameter rel = "nofollow".