The most popular online search engine, ATOM, has been experiencing a surge recently. The Cosmos cryptocurrency exchange, better known by its native token Atom, was steadily gaining traction with Tendermint Core.
The number of investors in the ATOM token has been continuously increasing over the past few months. The reports are showing that there is a 123% increment rate in investors within a month. Besides that, last month Atom’s miner revenue showed an increment in its growth rate.
The blockchain firm Cosmos is categorized as “Blockchain 3.0” for its capability to solve any difficulties that are faced by firms. The ultimate aim of the platform is to lower the price and to reduce the emission of large scales of carbon, which are emitted mainly on the Proof-of-Work (PoW) blockchain platforms.
Cosmos also has a Cosmos Hub. Recently, Cosmos Hub topped the first position for Weekly Active Users (WAU) in Inter Blockchain Communication (IBC) with 84,073 users. OSMO and EVMOS secured the second and third positions, respectively. This result demonstrates how popular Cosmos has become among users.
At the time of writing, the price of Cosmos was trading at $11.08 (USD) with a trading volume of $230,386,503 (USD) and the supply of ATOM tokens was a maximum of 286,370,297. In the current CoinMarketCap ranking, Cosmos is trading at #22.
Cosmo’s recent involvement in the Binance hack had a negative impact on the platform. Binance is one of the largest users of Cosmos. The co-founder of Cosmos, Ethan Buchman, stated in a tweet that “It was better to replicate the market proof,” which helped the hacker exploit Cosmos’ vulnerabilities. Even though an advisory and defensive patch were added to the Cosmos codebase, it appeared that the negative sentiment against ATOM stayed.”
What Makes Cosmos’s Blockchain More Secure?
A lot of investors believe that Cosmos is a safe place to invest in because it maintains safe and secure transactions on its platform. Cosmos uses hybrid Proof-of-Stake (PoS) to stake the ATOM tokens. The trading on the Cosmos platform will be carried out without involving any middle agents.
The algorithm that is used in the Cosmos blockchain is mainly focused on ATOM programmability. It helps the investors of Cosmos to utilize all types of marketplace transactions like decentralized apps, financial services, and the gaming sector.
ATOM 2.0, which was recently released, will provide more security to ATOM investors while also increasing liquidity across the platform.
The best crypto exchange platforms to buy Cosmos at the current price are
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/10/17/cosmos-native-token-atom-was-experiencing-a-surge/