Top 10 Cosmos Coins 2023
Cosmos coins are coins that are part of the Cosmos ecosystem. But what does this really mean? The Cosmos ecosystem was presented at its launch as, "the internet of blockchains," in the crypto world Cosmos is better known as blockchain 3.0. The Cosmos ecosystem is an open-source platform with the goal of improving interoperability between blockchain networks. This means that Cosmos aims to connect individual blockchains to each other, creating cooperation and interaction between different blockchains.
Now, do you want to know more about the Cosmos ecosystem, the coins that are part of this and what role these coins fulfill in the ecosystem? Then be sure to read on.
1. Cosmos (ATOM)
Cosmos (ATOM) is a blockchain that aims to end the lack of cooperation between different blockchains. The Cosmos project aims to do this by creating an ecosystem made up of independent blockchains. Using the IBC protocol, which ensures that different blockchains can communicate with each other, Cosmos is building a network that ensures that these individual blockchains can be connected to each other. Cosmos ensures that these blockchains, during the collaboration, can continue to run within their own ecosystem.ATOM, Cosmos' own currency, offers a lot of possibilities within the Cosmos ecosystem. One of the main functions of ATOM is, of course, to run the consensus algorithm. Another function of the ATOM token is to provide sovereignty. Holders of ATOM are able to vote for validator nodes that they believe should work within the network.
2. Osmosis (OSMO)
Osmosis (OSMO) is a decentralized exchange built with the Cosmos SDK. This Automated Market Maker (AMM) is part of the Cosmos ecosystem and serves as a decentralized marketplace that facilitates trading of tokens within the Cosmos ecosystem. Osmosis users can earn revenue in the form of liquidity mining rewards, stake rewards and more.The OSMO token is the native coin of Osmosis. This native token has various functionalities within the blockchain, including locking into liquidity pools to earn interest and paying transaction fees.
3. Evmos (EVMOS)
Evmos (EVMOS) is a fully decentralized Proof of Stake blockchain that is part of the Cosmos ecosystem. This blockchain is based on the Ethereum Virtual Machine (EVM) and is therefore also fully compatible with the Ethereum blockchain.Evmos aims to connect the entire Cosmos ecosystem with Ethereum-based assets and apps.
The EVMOS coin can be used for various purposes within the Evmos network. The EVMOS token can be used to invest, unlock various features within Evmos and vote on various development plans of the Evmos network.
4. JUNO (JUNO)
JUNO is a blockchain that functions using smart contracts. These smart contracts work on the IBC protocol. This protocol ensures that smart contracts not only work within one blockchain, but allows communication between different blockchains.The JUNO token can be used within the JUNO blockchain. You can use the token to pay network fees, to vote on various developments of the platform and to stake. Of course, you can also use the token as an investment, deposit or as a form of store of value.
5. Akash Network (AKT)
Akash Network (AKT) is a transparent, decentralized cloud computing project that functions as a rental of computing resources. People in need of computing resources can visit the platform to find someone to rent out this computing power.Akash Network, also known as Akash DeCloud, consists of two main components: the network and the platform.
Holders of the AKT token can enjoy multiple functionalities. For example, AKT token holders can vote on updates on the network and can use the tokens for storage and exchange.
6. Stargaze (STARS)
Stargaze (STARS) is a decentralized and community-driven Proof of Stake layer 1 blockchain that allows you to build NFTs within the Cosmos ecosystem. The protocol on which Stargaze runs, features an NFT Launchpad with no transaction fees, where developers can sell their collections to the community. Stargaze also features an NFT marketplace, where users can trade their NFTs.STARS, Stargaze's native token, can be used to pay network fees, vote on board proposals and secure the network through staking.
7. Persistence (XPRT)
Persistence (XPRT) is a Tendermint-based, specialized Layer 1 network that feeds an ecosystem of DeFi applications focused on unlocking staked assets. Persistence facilitates the issuance and deployment of staked assets; as a result, users can earn staking rewards by participating in DeFi activities, such as borrowing and other liquidity provisions on various DEXs.8. Secret (SCRT)
Secret (SCRT) is the first blockchain with smart contracts that protect privacy. The crypto world has many different blockchains that support smart contracts, Ethereum being a well-known example. All these different blockchains are public blockchains, this means that all kinds of information about users can be found on them, including the information used in smart contracts on these blockchains. Secret wants to solve this problem by offering privacy for data and sensitive information stored on the blockchain.The SCRT token functions as a native token for the Secret Network. The token is used within the system for staking by the nodes of the Secret network. These nodes use the tokens as subjects or inserts.