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Cosmos {ATOM} price analysis for the day, know more about Tendermint Core

Cosmos is ranked at #21, below Ethereum Classic and above Maker on coinmarketcap. ATOM is currently trading in the red zone, with a slight drop rate of 0.19% noted. The trading volume recorded is $111.125 million, whereas the supply has 190,688,439 ATOM coins in play. The total market cap of Cosmos is $558.305 million. As of this moment, ATOM is priced at $2.93.

The daily RSI [for the ATOM/USD chart on tradingview- 10 periods] stands at 31.04 and might sink further, which will bring ATOM in oversold territory. From 9th August, the Ichimoku Cloud has been red. The MACD line is also beneath the signal line, pointing to bearish pressure being prevalent. If the price drops, ATOM will find support near the $2.72 mark. On the other hand, a climb may lead to resistance being felt close to the $3.73 level.

The Tendermint Core includes the Tendermint consensus algorithm alongside a P2P gossip protocol. Tendermint employs the modular set-up instead of being monolithic, and developers need only be concerned about the application layer of the chain. The usage of the Byzantine fault-tolerant consensus algorithm [TCP] is also a highlight.

Tendermint can negate attempts to fork if the majority [more than 65%] of the validators remain benevolent. The user-friendly nature of the Cosmos blockchain is a bonus too. Instead of a PoW algorithm, Tendermint employs a proof-of-stake system, thus enabling sharding.

The PoW consensus algorithm leads to less decentralization, massive energy consumption, and problems related to scalability. In order to combat such issues, Jae Kwon formulated Tendermint. It took years to implement the final product, but Cosmos is research-based just like Cardano, which gives it an upper-hand. Fault-tolerance and safety are the major areas of interest for Tendermint.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.