In short, Cosmos is a groundbreaking project that addresses some of the most pressing challenges in the blockchain industry. It offers a solution to the slow, expensive, and environmentally harmful proof-of-work protocols used by cryptocurrencies like Bitcoin. By creating a network of interconnected blockchains, Cosmos aims to provide a more efficient and scalable ecosystem.
One of the key features of Cosmos is its modular framework, which simplifies the development of decentralized applications and makes blockchain technology more accessible to developers. Additionally, the Interblockchain Communication protocol enables seamless communication between different blockchain networks, reducing fragmentation in the industry.
Cosmos has its roots in Tendermint, which was established in 2014. The project gained momentum with the publication of a white paper in 2016, followed by a successful token sale in the subsequent year. ATOM tokens play a crucial role in the Cosmos network, as they are earned through a hybrid proof-of-stake algorithm and contribute to the security of the Cosmos Hub. Furthermore, ATOM tokens are used for governance within the network.
