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This is another blockchain that is not for the faint of heart. What it does is important but complex. Cosmos, also known as "the internet of blockchains," got its start back in 2014 when Jae Kwon wrote a paper called Consensus Without Mining. In this article, he talked about applying Byzantine Fault Tolerance to POS consensus. Their main goal was to connect all the blockchains together in one spot. This way, it would create less confusion and complexity in the crypto world when trying to bridge between blockchains.
There is no set number of tokens that can be minted. This means it is an inflationary token, so just holding ATOM is not a good idea. If you stake your tokens, you will earn around 18% APR. When you want to un-stake your tokens, it will take twenty-one days to remove them from the staking pool. The fees on the blockchain are very small. They are at one penny as of 7/27/22. Most of the fees go to the nodes/validators. The rest goes to a community fund, which is used to help reward people for helping build the community.
POS Token
Circulating Supply 390,688,369 ATOM
Total Supply 390,930,035 ATOM
Max Supply ∞
Cosmos is trying to bring all the major chains together for ease of use. They make it easy for people to develop their own chains and set their own terms. The coding language used is Rust, which has grown significantly in popularity. Also, the blockchain is open-sourced and has set up tools to help developers build on the blockchain and help ease integration. The fees are very low and do not cover very much.
For someone new to crypto, Cosmos can be overwhelming when trying to learn how blockchain technology works. Of all the zones that have been built on Cosmos, 80% of the traffic is located in five zones. Its competitors such as Polkadot and Ethereum have a stronger foothold in this sector of the market. Validators must vote on proposals; if they don’t, they are suspended for one week from their validator identity.
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