The ATOM token and the Cosmos project are distinguished by several points that make them unique compared to other blockchain projects. Here are the main features:
1. Interoperability
The IBC (Inter-Blockchain Communication) protocol enables interaction between different blockchain chains, facilitating the transfer of assets and data between networks.
Unlike Bitcoin or Ethereum, which operate independently, the Cosmos Hub seamlessly connects multiple networks.
2. Scalability
Cosmos relies on a Zones & Hubs architecture, allowing each blockchain (Zone) to operate independently while being able to interact with other networks via the Cosmos Hub.
The Tendermint BFT mechanism supports transaction processing quickly and efficiently compared to mechanisms like Proof of Work (PoW).
3. Advanced Consensus Mechanism (Tendermint PoS)
Cosmos uses a Proof-of-Stake (PoS) mechanism, making it more energy-efficient compared to mechanisms like Proof-of-Work (PoW) used by Bitcoin.
This mechanism allows users to stake the currency to earn rewards and secure the network.
4. Decentralized Governance
ATOM holders can vote on decisions related to project development, such as technical updates or fee adjustments.
This system empowers token holders to influence the future of the project.
5. Flexibility in creating new blockchains
Developers can easily build their own blockchains using the Cosmos SDK, saving significant time and effort compared to creating a blockchain from scratch.
Many projects, such as Terra (LUNA) and Binance Chain, use Cosmos technologies.
6. Lower fees and high speed
Due to its unique architecture and consensus mechanism, Cosmos provides faster transactions than Ethereum and lower fees.
7. High security
The network relies on the Tendermint BFT Consensus mechanism, making it highly resistant to attacks, especially those targeting transaction record manipulation.
These features make ATOM one of the leading cryptocurrencies in facilitating the operation of different blockchains together.
ATOM began in April 2019 with a price of 4.755, then dropped to 1.061 in March 2020, rose to 44.800 in September 2021, and then declined again to the current price of 4.727, which is the same as the beginning price in 2019.
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