Cosmos | Is the hype justified?

by Blockspectator News 3 weeks ago

Over the past month or so, many cryptocurrency enthusiasts were miffed as to why a project called Cosmos (ATOM) was appearing in the top 20 projects on CoinMarketCap.com.

There appeared to be minimal information on the projects supply or even exchange information- it all made for an intriguing episode concerning the project.

However, following Binance’s announcement that they would be listing ATOM- the native crypto asset of the Cosmos blockchain, the market price soared by over 30% on the first day of official trading.

Since then, the community interest in Cosmos has continued to peak, and this has been reflected in the price, with there being a sustained bullish movement ever since the launch.

Cosmos Network calls themselves the connected blockchain or the internet of blockchains. What they’re trying to achieve is to solve a few of the primary and most important problems of blockchain and digital ledger systems.

Essentially Cosmos Network is a developer platform to create and connect different blockchain projects.

The project is aiming to solve prevalent blockchain problems such as:

  • Scalability
  • Usability
  • Interoperability

Scalability

Existing Proof-of-Work (PoW) protocols such as Bitcoin are notoriously sluggish. Cosmos will be using the underlying platform, Tendermint, to create a secure consensus protocol using a proprietary method called Bonded Proof-of Stake (BPoS).

Usability

Cosmos plan to create a developer-friendly standard for more accessible and efficient mediums of work. Much like what HTML, CSS or JavaScript attempts to do for coding, Cosmos are aiming to recreate for this blockchain ecosystem.

Scalability

This will allow virtual economies to converse and connect. This will lead to a new ecosystem of elements and convenience for the individuals associated with the ecosystems.

Cosmos is a powerful platform with a very ambitious goal of connecting the blockchains of this time. In doing so, they hope to create a whole new tokens economy and token system for more scalable projects.

When truly scaling the scope of the platforms desired objectives, it’s clearer to see why the community has placed much interest in Cosmo.

There will be concerns of course as to whether such an ambitious project is genuinely feasible or if there is too many moving parts for a real deliverance on their aim.

However, hedging by the reaction received so far; it seems that many are in the thought that Cosmo’s lofty objectives could very well become a reality.

Image Source


OneCoin, Scam, Court, Bitconnect General News
7 hours ago

Justice! Former OneCoin Investor Pursues Class Action against Ponzi Scheme

Positive news released by Bloomberg revealed how a former investor of the notorious scam, OneCoin, would be seeking damages and a class action suit to claim back lost amounts defrauded in the scheme. Christine Grablis will represent herself and others, […]

General News
7 hours ago

The Best IPO of 2019 Just Got Even Better

The good times continue to keep rolling for Beyond Meat. Already the most successful IPO of 2019, their stock continues to soar in value as well as receiving bolstering news concerning one of their meat-based rivals. Investor can’t get enough […]

Price Manipulation, Markets, Cryptocurrency, Bitcoin Adoption
2 weeks ago

The Pain of Price Manipulation and why it Sucks!

It is hypocritical for centralized trading outlets to fault cryptocurrency exchanges for price manipulation. Ever since cryptocurrencies and cryptocurrency trading gained popularity, news concerning alleged price manipulation has surfaced and increased significantly. Nevertheless, cryptocurrency trading surges on despite the negative […]

Adoption
2 weeks ago

Bitfinex- Too big to fail?

Where there’s smoke, there’s fire. The charges brought against iFinex, the parent company for Bitfinex and Tether, are an indicator of the opaqueness surrounding the operations of Bitfinex and Tether. House of Cards When the NYAG made her charges formal, […]

Blockchain
2 weeks ago

Insights Network announces mainnet support for EOS

Following their recent growth, Insights Network is adding support for the EOS mainnet. Insights Network launched the INSTAR blockchain and INSTAR wallet which saw their activity increase significantly leading to their top ten ranking on Block’tivity’s list of most active […]

Blockchain
2 weeks ago

Beam | Keeping your money away from Big Brother

Beam and its underlying technology, Mimblewimble, are an exciting concept in regards to the issue of cryptocurrency privacy. While Bitcoin may be the flagpole cryptocurrency, during transactions, Bitcoin exposes a substantial amount of information, particularly about sender and receiving parties’ […]

Research
3 weeks ago

Bitcoin mega trend- awareness continues to rise

Bitcoin has become a demographic megatrend- according to new research by Blockchain Capital partner Spencer Bogart. In spite of the very challenging year and a half experienced by the cryptocurrency markets, Bitcoin familiarity, conviction, and propensity to own Bitcoin have […]

Uncategorized
3 weeks ago

Taxpayers eligible to receive refunds in Bitcoin – potential bait?

U.S tax citizens will now be able to receive portions of their tax refunds in Bitcoin. This was made available following the announcement that the Cryptocurrency payment services firm BitPay will be partnering with Refundo- a company specializing in tax-related […]

Uncategorized
3 weeks ago

What is Mimblewimble? How does it relate to Bitcoin?

Mimblewimble is a relatively new privacy-orientated technology with origins from the Bitcoin world. The project is a new blockchain protocol that aims to improve Bitcoin’s UTXO model. UTXO stands for the unspent output from bitcoin transactions. UTXOs are processed continuously […]

Uncategorized
3 weeks ago

How Elastos will usher in the New Internet

Elastos (ELA) is a third generation blockchain platform, similar to EOS and Blockstack. They aim to be the chosen operating system for blockchain and IoT devices. This will allow their virtual machine to run d’Apps on any types of device, […]