Cosmos project makes blockchain technology less complex and easier for the developers due to a modular framework. Additionally, its Inter-blockchain Communication Protocol helps the blockchain networks communicate easily with each other, which prevents fragmentation.ATOM is the native token of Cosmos Network, which has an essential role in the governance of the network. The current price of ATOM, at the time of writing, is $24.23, and it is decreased by nearly 7.7% within a period of 24-hours. The ATOM token is primarily designed to facilitate the scaling, interoperation, and communication between the independent chains. The token has a total supply of slightly more than 260 million, and around 203 million coins are already in circulation. Notably, ATOM cannot be mined but can be earned via staking.What problems does the Cosmos network solve?\u00b7 Scalability- According to the Cosmos developers, the existing proof-of-work algorithms are pretty costly, slow, and lack scalability. Cosmos Network resolves scalability with current blockchain technology by utilizing many tools, including, Tendermint, Cosmos SDK, and Inter-Blockchain communication Protocol. Notably, Tendermint Core can feature a 1 second block time and has the ability to handle 10,000 transactions per second. Cosmos developers arrive at the point where the application itself becomes the scalability bottleneck. Cosmos SDK is the tool designed for simplifying the process to create secure applications on Tendermint. Inter-Blockchain Communication Protocol, when paired with Tendermint, enables the heterogeneous chains for exchanging the tokens and data.\u00b7 Interoperability- It is often seen that the economies based on Blockchain are often isolated from each other and cannot transfer the tokens among them. So, the Cosmos Network uses Inter-Blockchain Communication Protocol to resolve the issue of interoperability, where IBC technology acts as a messaging protocol for the blockchains.\u00b7 Usability and Sovereignty- Using Cosmos SDK, the Cosmos network offers a developer-friendly solution for the Blockchain.Recently,\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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