Cosmos allows blockchains to seamlessly communicate with each other within a scalable proof-of-stake-based protocol.
It’s built on Tendermint proof of stake, and Tendermint’s developers are the main driving force behind the creation of Cosmos.
Cosmos aims to do the following:
Allow anyone to easily create their own custom blockchain with Cosmos SDK.
Cement a new set of blockchain standards through the Inter-Blockchain Communication (IBC) protocol.
Create seamless interoperability between Tendermint-based chains such as those created through Cosmos SDK as well as non-Tendermint blockchains such as Bitcoin.
Cosmos has a well-known team behind it and has achieved a lot of recognition from many other large projects in the space.
Things to consider before buying Cosmos (ATOM)
Cosmos is a new project, and it’s just one of several blockchain interoperability projects.
And although it’s been heavily tested prior to launch, its underlying proof-of-stake protocol is still largely experimental. Similarly, the IBC protocol has yet to be launched.
Once you learn about Cosmos and the team behind it, and weigh up the risks and downsides associated with the project, you can make an informed decision about whether to buy Cosmos' ATOM cryptocurrency.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
Disclaimer: The author holds BTC at the time of writing.
Andrew Munro is the global cryptocurrency editor at Finder. After previously writing about insurance and other areas, he now covers the latest developments in digital assets and blockchain and works on Finder's comprehensive range of guides to help people understand cryptocurrency.
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