What is Cosmos (ATOM)?

ATOM is the native token of the Cosmos platform, which aims to establish an Internet of Blockchains through Inter Blockchain Communication (IBC) protocol so that developers can create scalable and interoperable blockchains. Its origin dates back to 2014, when a core contributor to the network, Tendermint, was founded. After two years, in 2016, the team behind the project published the Cosmos whitepaper and held a token sale a year later.

Any new blockchain that adds to the Cosmos is called a Zone. It is best known for its software development kit (SDK) that uses a Tendermint BFT (Byzantine Fault Tolerance) algorithm, making it possible for developers to build blockchains without coding from scratch. Cosmos users can stake ATOM tokens in the network to earn rewards. The higher the ATOM staking amount, the higher the voting power the validators enjoy. There is currently no fixed capped supply of ATOM tokens.

How does Cosmos (ATOM) work?

Cosmos has a well-connected ecosystem of apps and services. This ecosystem can be split into three layers: Networking, Application, and Consensus. Cosmos network packages the networking and consensus layers into a ready-to-use engine called Tendermint BFT engine. It also offers blockchain developers a Software Development Kit (SDK) that can work seamlessly with this Tendermint BFT engine. Since the Tendermint BFT engine handles a blockchain's networking and consensus part, the developers only need to focus on the application layer while creating a new blockchain, saving their time and resources. Cosmos also offers exciting plugins that developers can use to add features to their blockchains.

The algorithm of the Tendermint BFT engine helps the networks associated with the Cosmos network to secure, validate and commit blocks to the blockchain. The centre of this Tendermint BFT engine is the PoS (Proof-of-Stake) consensus mechanism that helps the computers running on the Cosmos network to be in sync. Those who wish to participate in the consensus and governance of the Cosmos network need first to stake ATOM tokens. Only the top 100 nodes staking ATOM get the chance to become validators. The other participants can delegate their tokens to these validators to earn a valid portion of their block reward. ATOM holdings of network participants also decide their voting power. Unlike many other PoS networks, the Cosmos network allows delegators to switch between validators.

The first blockchain launched on the Cosmos network, the Cosmos Hub, acts as the intermediary between all the other blockchains (zones) created within Cosmos. These zones independently carry their functions, including authenticating transactions, creating new tokens, and executing changes. The Cosmos Hub establishes interoperability between these zones by keeping track of their states. The zones keep a connection with Cosmos Hub through the Inter-blockchain Interface (IBC) mechanism of Cosmos, allowing a free flow of information between all connected zones.

ATOM, the native token of Cosmos, has three primary use cases. The Cosmos users pay their transaction fee through ATOM tokens. They can also use it to participate in the governance system of Cosmos Hub. The more ATOM tokens a user holds, the more voting power they get in the platform decisions. The Cosmos users can also stake their ATOM tokens through validators to earn staking rewards. ATOM has no fixed supply, and its network adjusts its minting supply according to the staked amount and the number of contributors.

How to Buy Cosmos (ATOM) in India?

There are many platforms where you can invest and trade Cosmos (ATOM) in India.

One such platform is Flitpay. To buy Cosmos (ATOM) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Cosmos (ATOM) and execute the Cosmos (ATOM) purchase.

You can instantly convert your INR to Cosmos (ATOM) and Cosmos (ATOM) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay is the safest cryptocurrency exchange to buy Bitcoin, Ethereum, Dogecoin and other cryptocurrencies in India.

What to Do After I Buy Cosmos (ATOM)?

Cosmos (ATOM) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold Cosmos (ATOM) till it reaches a high price, and then you can sell it through the FLITPAY Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

If you wish to earn new ATOM tokens, you can do that by participating in the PoS consensus mechanism of the Cosmos network. ATOM is also the platform currency of Cosmos Hub that you can use to pay for using services and products associated with Cosmos. If you wish to have a say in the governance of the Cosmos, then also, holding ATOM tokens would help you to achieve that.

Why Cosmos (ATOM)?

Cosmos (ATOM) is working towards solving some biggest problems faced by the blockchain industry like interoperability and scalability. Its unique and efficient Tendermint BFT engine simplifies the creation of new blockchains for developers through the SDK tool. The interoperability set by Cosmos Hub with all the other blockchains existing in the Cosmos ecosystem can act as the stepping stone for making it possible for institutional as well as private blockchains to coexist and exchange data freely.

Since the ATOM token is the primary token of the Cosmos platform and contributes to it in different ways, it seems to have a strong foundation and potential for future growth.

FAQs

What is Cosmos (ATOM)?
Cosmos (ATOM) is the platform token as well as the governance token of the Cosmos network. The users of Cosmos can pay for services and products through ATOM tokens. Its holders can also stake it to participate in the governance and earn rewards.It has no fixed maximum supply.

What is the Cosmos (ATOM) price in India?
Check out the current INR price of ATOM  tokens in India on Flitpay.

Which is the best platform to buy Cosmos (ATOM) in India?
The best crypto exchange in India to buy ATOM or your favorite cryptocurrencies is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Cosmos (ATOM)?
ATOM token has different use cases in the Cosmos network. It is the payment currency of the network required by developers to create and maintain blockchains using Cosmos SDK and Tendermint BFT. It also has an important role to play in the PoS consensus of the Cosmos network.

Is it safe to invest in Cosmos (ATOM) in India?
Yes, investing and trading in Cosmos (ATOM) is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to invest in ATOM. It offers the most real-time prices and advanced investing features.

Is Cosmos (ATOM) a Good Investment?
ATOM powers the dynamic ecosystem of Cosmos Hub that works to establish seamless interoperability between blockchains and simplify the creation of new customizable blockchains. It performed well in the 2021 and 2022 touching new ATH. However, like many other cryptocurrencies, ATOM is a highly volatile investment, and one must do his own research before investing in it.