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What sets Cosmos {ATOM} apart from other projects in the cryptosphere? Key benefits examined


Coinbase is considering listing Cosmos on their platform. Other choices including DASH, Decred, and a few more are also part of this debate. Currently, the voting power remains centralized [due to the presence of a few validators]. The chain has been criticized recently because it favors validator centralization.

A 1% to 5% reward bonus is allocated to block proposers. On top of that, stake [delegated to each validator] is directly proportional to the influence and the number of times one shall be elected as the new proposer. This is a huge cause of concern for the entire community.

A system involving punishment instead can help combat the centralized aspect of the main blockchain. This is in accordance with a post by David Hawig on the Cosmos forum. The Tendermint Core and Inter-Blockchain Communications [IBC] protocol serve as the background for the entire network.

IBC leads to independent chains aka “zones” being connected to a central chain i.e. a “hub”. A Proof-of-Stake protocol is used by hubs in order to endorse transactions on Tendermint. The mainnet launched successfully in March this year. The ICO held back in April was key to raising more than $15 million [coins collected involved ETH, BTC, and Dollars too].

If a node operates in a malicious manner, an immediate ban is imposed. The incident is then prodded for a period of 3 weeks. Jae Kwon is the one who is at the helm of this venture; Cosmos was his brainchild. Cross-chain communication is the cornerstone of this network.

Cosmos is presently at #22 on coinmarketcap, after Maker overtook it a while back. The price sunk at a rate of 1.81% in the course of the past 24-hours. The trading volume recorded is $120.196 million, while the supply has 190,688,439 ATOM coins in circulation. As of this moment, the total market cap of Cosmos is $506.631 million, and ATOM is priced at $2.66 for now.

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