Cosmos is a blockchain platform that can be compared to polkadot because they share a lot of similarities but are still very different in their approaches. Cosmos is a decentralized blockchain platform that enables data exchanges between various blockchains.
It is a decentralized blockchain platform of independent parallel blockchains that can scale and connect to each other. One of the core aims of cosmos is building an infrastructure that allows for the communication of separate blockchains with each other seamlessly. Cosmos blockchain platform focuses on security, scalability, and cross-chain bridges.
Key Features of Cosmos
Some of the key features of the cosmos blockchain platform
- Scalability
- Security
- Interoperability
- Decentralization
- Cross-chain bridges
- Customizable
- Internet of blockchains
Benefits of Cosmos
Cosmos is yet another top blockchain project at the moment. Similar to polkadot and a lot of other top blockchain platforms, cosmos offers a lot of benefits. Some of the benefits of cosmos are;
Cosmos focuses on scalability which is key for any blockchain based project.
Decentralization which means that cosmos doesn’t have any central entity that determines what happens on the network, instead, it is decentralized.
Interoperability which means that the various blockchains can communicate with each other seamlessly.
Cosmos is fully customizable which is also very important for making changes and achieving uniqueness required to stand out.
Another key benefit of cosmos is that is streamlines inter-blockchain transactions.
Cosmos Token – ATOM
The native token of cosmos is ATOM which serves as the network token. The ATOM token has a lot of usecases in the cosmos platform… One of the uses cases of ATOM is for paying for transaction fees in the Cosmos network. Also, ATOM allows for the participation in the consensus of the cosmos network.
Cosmos Staking
Cosmo also uses a proof of stake model. Validators in the cosmos network earn rewards by being in the top 100 stakers. Users can also earn rewards by delegating or staking to a validator in the cosmos network.
Cosmos (ATOM) Wallets and Exchanges
Cosmos ATOM can be held in a variety of different wallets like web wallets, mobile wallets, desktop wallets and hardware wallet. Cosmos ATOM is supported by a variety of the top crypto wallets like Wallet.io, atomic wallet, ledger wallet, trust wallet, exodus wallet, Guarda Wallet, TokenPocket etc. Cosmos ATOM is listed on a variety of top cryptocurrency exchanges such as coinbase pro, binance, huobi, kucoin, bittrex, kraken, gate.io, OKEx, poloniex etc.