- Time to vote: Gravity bridge proposal ready for their community.
- Cosmos ATOM will share ERC20, DeFI, and other Ethereum assets.
- The crypto market knows Cosmos (ATOM) as “The internet of blockchain”
Cosmos (ATOM) was founded by Jae Kwon on June 26, 2016. ATOM is a technological project with the objective of building a decentralized, fast, eco-friendly, safe, and economical Blockchain interoperable system. The project’s focus is to develop an infrastructure for connecting several independent blockchains. This would make them compatible with each other.
Community always comes first for Cosmos ATOM, now everyone is called to vote
People call Cosmos (ATOM) infrastructure the Hub. The platform saves the information of every transaction and the different actions carried out by the connected users. This is a big advantage since all the data shared between the users is stored and there is no room for denial. Cosmos’s internal communication protocol called Inter Blockchain Communication (IBC) is responsible for this.
On June 1st, 2021, Cosmos has published through its official Twitter account that the ATOM community is called to sign the proposal of the gravity bridge module through the Cosmos Hub. The objective of the Gravity proposal is to allow users to bring ERC20 assets from Ethereum (ETH) into Cosmos (ATOM) and in both directions. Furthermore, the new proposal includes the exchange of assets with Uniswaps, DeFi, and other Ethereum tokens. Users expect high liquidity of assets if the vote comes in favor. The first test should launch in the third quarter of this year.
The revolutionary idea of Jae Kwon – “The internet of blockchain”
Jae Kwon’s revolutionary idea is “The internet of blockchain” in the crypto market. However, Cosmos describes itself as the Blockchain 3.0 generation created with the aim of uniting the blockchain and to keep its structure simpler to use.The success of Cosmos is found in the configuration of its modules. Speed is also an advantage, since the system is capable of processing 5 times more transactions than Bitcoin (BTC) and Ethereum (ETH).
Furthermore, ATOM has developed Cosmos SDK. It is an open platform that allows developers to create a simple and personalized way of creating their blockchain from scratch. This can be interoperated with other blockchains. Blockchain SDKs are developed by compound modules, this is the most advanced infrastructure in the market at the moment allowing anyone to create their own app.
In addition, Cosmos has its own cryptocurrency, a token known as ATOM. The objective of this token is to create an interactive financial ecosystem. ATOM is a limited token.
Cosmos (ATOM) market capitalisation is $ 3.5 B. The average volume is approximately 700M per day. Although the price of an ATOM is $ 15.99, in the last few hours the price has changed 7.52%. As mentioned above the coins are unlimited and there are currently more than 238M ATOM in circulation. Data checked at 16.00GMT time.
You might also like
More from Crypto
Monday was expected to mark a momentous milestone for the crypto community, however, it was overshadowed by a significant drop …