Cosmos (ATOM), which made a name for itself with a growth of close to 500 percent last year, got its share from the crypto winter of 2022. Like other altcoins, it suffered significant losses. But for many investors, short-term price movements are unimportant. Investors who have made mini fortunes from cryptocurrencies have also focused mainly on long-term goals. It should not be easy to buy Ethereum for 1 dollar and wait this long.Cosmos Coin Comment
At the time of writing, ATOM, which is approximately 68% below the ATH level, is the 20th largest cryptocurrency. Cosmos is an initiative where giant projects work together in terms of the technology it offers. Cosmos Inter-Blockchain Communication (IBC) and Cosmos SDK serve many well-known protocols in the DeFi space today. So what does Cosmos solve? There are already many blockchains around the world and the number will continue to grow. Cosmos developers produce a solution for the communication of networks with each other.
Cosmos SDK allows developers to quickly develop blockchains or decentralized applications without coding the entire program from scratch. ATOM is the native cryptocurrency that powers the Cosmos ecosystem. Owners contribute to the security and management of the network.
What is Cosmos?
There are 5 basic elements you need to know in the Cosmos ecosystem.
Cosmos Hub: It is the core blockchain to which these zones are connected. It acts as an intermediary among other blockchains in the network.
Zones: These are blockchains that developers have created in the Cosmos ecosystem. They are linked to the Cosmos Hub.
Tendermint is the consensus mechanism that powers Cosmos and is responsible for validating transactions and also for security.
Inter-Blockchain Communication Protocol (IBC): This provides the connection between Zones and Cosmos Hub and works for free flow of information. It is a communication protocol.
Cosmos SDK (software development kit or software development kit): This kit allows developers to develop blockchains by leveraging the Tendermint consensus mechanism. Developers already know SDK logic, for those who don’t know, we can call it a digital code library.
Who are the Founders of Cosmos?
Launched by Ethan Buchman and Jae Kwon in 2014, Cosmos is supported by the Interchain Foundation (ICF). We can think of it like the Ethereum Foundation of Ethereum. The ICF was responsible for running the first ATOM token ICO, which raised approximately $17 million in 2017.
Cosmos Price Forecast 2022-2031
According to analysts, the price of Cosmos (ATOM) will not see a serious growth in 2022 and will reach a ceiling price of $ 17.16 by the end of the year. Expectations for 2023 are that the ceiling price will be at the level of 22 dollars. Of course, we have many years ahead and it is difficult to make an accurate prediction from now until 20231. In the table below, you can see the targeted prices for ATOM by years. What will feed the price rise in the long run is the further development of the Cosmos SDK and the ecosystem serving more applications than it does today.
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