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Know more about Cosmos
The history of Cosmos goes back much earlier than its launch. The platform entered the industry through the introduction of a well-known blockchain developer named Jae Kwon. In 2014, Kwon teamed up with two other developers, Zarko Milosevic and Ethan Buchman, and finally, in April 2017, Cosmos successfully entered the market and began funding security with its ICO. The amazing thing is that it only took 29 minutes to reach their target point for initial sales.
What is Cosmos (atom)?
In general, Cosmos is a network of blockchain networks. The developers call this platform "Internet Blockchain". The goal of this project is for individual blockchains to be able to communicate seamlessly with each other. By allowing any blockchain to communicate, share data, and trade with anyone else, Cosmos can turn market friction into a positive driver for development.
Cosmos is more than just a bridge between blockchains. This platform has a complete set of products and features that make it an impressive choice in the market. Cosmos introduces a stack of next-generation technology that gives developers access to powerful tools that increase blockchain efficiency.
One noteworthy point is that developers can build a complex blockchain in the Cosmos ecosystem in a week. But compared to using 2CD generation blockchains, it takes weeks. For this reason, Cosmos is witnessing the growth of the Dapp community, which is helping to create more user interaction.
How does the cosmos of Digital Currency (ATOM) work?
Cosmos uses a variety of open-source tools to facilitate collaboration between blockchains on its network. To do this, the protocol independently monitors the status of each blockchain on the network. In the Cosmos ecosystem, each network is recognized as a separate area.
Atom is the native digital currency of the cosmos network. This currency contributes to vital functions. For example, it can be used to execute smart contracts and complete transactions. New ATOMs are generated as a reward for network validators each time a block of transactions is approved.
There are currently 204,603,576 atoms in circulation. It should be noted that most of these signs were from the initial launch of Cosmos. These early currencies were distributed among early donors, participants in token sales, and major platform developers.
Now it's time to look at the pros and cons of the Atom digital currency and its network cosmos.
Integrated service with low latency
Available via API
Upgrade blockchain network
Support for ANSI SQL