The “Internet of Blockchains” concept is an apt description for what Cosmos is all about. The platform is a decentralized ecosystem of independent parallel blockchains. Aside from streamlining the development process, its goal is to allow every blockchain to transact, share data, and communicate with others.
MoreCosmos uses a variety of proprietary open-source tools that encourage blockchains to interoperate in the network, thereby allowing them to co-exist without having to compete with each other. The state of each blockchain in the network is autonomously monitored.
MoreThe Cosmos network uses ATOM as its native cryptocurrency. It can be purchased from a crypto exchange network, such as Coinmerce. Create an account on Coinmerce and choose to pay for your purchase via credit card or any other payment method you prefer.
MoreYou want to buy Cosmos? You can buy Cosmos using Creditcard or SEPA at Coinmerce. Once you are logged in, you will see "Coins" in the top menu where you click on. Now you come to a page with all crypto coins that Coinmerce offers. If you don't see Cosmos, use the search function to search for Cosmos and click on the name. You can indicate for how many euros you want to buy Cosmos in the right window. Below is shown how much Cosmos you get for this. Have you entered the correct amount? Then click on "Buy". You can also execute a "Stop limit order" at Coinmerce. Our system will automatically buy Cosmos when the price of Cosmos reaches your entered value. You can also execute a repeating order. Do you want to buy Cosmos with another crypto currency? Then you go to the cryptocurrency you want to pay with and click on "Swap" in the right window to indicate that you want to receive Cosmos.
Do you want to earn an interest on your ATOM tokens? Then you can choose to stake Cosmos at Coinmerce. If you have ATOM tokens in your Coinmerce wallet, you can stake these tokens directly from your wallet. It is also possible to purchase tokens on the coin page of Cosmos after which they will be deployed directly for staking. It is possible to stake Cosmos because this blockchain uses Proof of Stake, which means the network consists of validators. By staking Cosmos, you help the network validate transactions and create new blocks. This also ensures a higher level of security within the Cosmos network. So to stake, you don't necessarily have to set up a validator node yourself. It's a lot easier to do this through Coinmerce. You can earn up to 5% interest per year when you stake ATOM tokens for a minimum of 10 euros. The profits from staking Cosmos are moved directly to your wallet at Coinmerce.
Cosmos actually started in 2016 after Gnuclear, a whitepaper created by Jae Kwon, came out. It somehow became the backbone for the Cosmos concept. The project was renamed to Cosmos in August 2016. A year later, to help Cosmos get significant funding, a private token sale was held and it successfully sold ATOM tokens totaling to around 12 million. The selling price for each ATOM was $0.025. They raised around $300,000. A second private sale gave Cosmos approximately $1.3 million. The platform’s Initial Coin Offering or ICO was held on June 04, 2017. It fetched a total of $16.02 million. It significantly contributed to the growth and success of Cosmos. Cosmos bases its technology on Tendermint and IBC (Inter-Blockchain Communication) Protocol. The Cosmos SDK is for building applications, IBC is for communication purposes, and Tendermint is used for creating proof-of-stake blockchain.