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Cosmos

Cosmos

Cosmos is an ecosystem of interoperable blockchain apps and services.

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Contents

Cosmos Network is a blockchain network architecture operated by the Interchain Foundation. Established in 2016, the company is headquartered in Zug, Switzerland, and was founded by Ethan Buchman and Jae Kwon. Cosmos consists of different independent blockchains referred to as zones. Zones are linked to each other by Cosmos Network Hubs, and the digital ledgers enable token swapping between zones.

Cosmos Network Hubs directly connect with zones, rather than zones directly connecting with one another, minimizing the risk of double-spending and the unfreezing of tokens. Some projects in development by Cosmos Network include the Cosmos SDK; Cosmos Hub, which launched on March 13, 2019; Tendermint Core, and various Interchain Standards.

Funding
Initial coin offering (ICO)

On April 6, 2017, Cosmos held its initial coin offering, selling approximately $17 million worth of the platform's ATOM cryptocurrency. The ICO raised $16.8 million in funding.

Platform

Several components of Cosmos and open-source tools make up for the network and keep it operating:

  • Layers: Cosmos possesses three main layers—the application layer, which processes transactions and updates the network state; the networking layer, which enables communication across blockchains; and the consensus layer, where nodes agree on the state of the network.
  • Zones: Every blockchain included in the Cosmos ecosystem is referred to as a “Zone.” The Zones are connected to the major blockchain, the Cosmos Hub.
  • Cosmos Hub: This is the inaugural blockchain included in the network, holding a main token called ATOM. Its major task is to interconnect other blockchains to the network without risking security properties. Cosmos Hub utilizes the proof-of-stake (PoS) consensus, which picks network validators based on the amount of tokens they hold.
  • BFT—Tendermint Byzantine Fault Tolerance: The Tendermint Core is a consensus integrating the BFT algorithm. Its major task is to replicate an application on different machines. A set number of validators is needed to operate the software. Validators are identified by their public keys.
  • Cosmos SDK: This is a software development kit for developers who want to build their applications on top of Tendermint-based blockchains.
  • Inter-Blockchain Communication (IBC): This is an end-to-end software protocol that enables interoperability between heterogeneous blockchains by laying down a set of data structures, abstractions, and semantics. The protocol can be utilized in building cross-chain applications with different features, like atomic swaps, multi-chain smart contracts, or token transfers.
  • Stargate Upgrade: This refers to a set of upgrades that enable interoperability as a result of the IBC protocol.

Diagram of a Cosmos Network Hub.

Diagram of a Cosmos Network Hub.

Projects

Some Projects and dApps built on Cosmos include the following:

  • Osmosis: This is one of the blockchains, or “zones,” that are attached to the Cosmos Hub. It utilizes a proof-of-stake system, which provides different professional staking services securing the Cosmos chain. The native cryptocurrency is termed OSMO.
  • Akash Network: This is another project operating on Cosmos. Its major purpose is to assist Web3 developers with deploying various decentralized applications (dApps) with reduced configurations, setup, and server management.
  • Sentinel protocol: This Cosmos project allows developers to build and deploy dApps. It allows its users to sell their bandwidth on its marketplace.
  • Persistence XPRT : This is an ecosystem of icrypto-native DeFi and NFT-focused assets. It offers the infrastructure to connect DeFi and traditional finance in different areas.
  • Regen network: This is a proof-of-stake blockchain developed on the Cosmos ecosystem, utilized for verification of claims, agreements, and data related to ecological state.
  • Juno: This is an open-source platform for interoperable smart contracts. It automatically controls and documents procedures and actions written in the terms of such contracts.

ATOM Token

Cosmos's native and utility token is referred to as ATOM. Holding ATOMS enables holders to pay for transaction fees, stake and validate blocks, and vote on governance proposals. ATOM has three major uses: spam prevention, voting, and staking. Users can utilize ATOM tokens to pay fees, which can be proportional to the amount of power needed to process the transaction.

Validators can vote on project proposals with ATOM tokens and govern the Cosmos Hub. Validators are mandated to bind or lock their tokens to be able to vote. To stake, validators bond their tokens to earn block rewards. Bonding involves locking up tokens for a particular period to gain voting power.

Validators are able to stake ATOM if they are in a blockchain or zone that is connected to the Cosmos Hub. If a validator commits an infraction, such as double-spending, Tendermint's For-Accountability consensus slashes the tokens. Whenever a validator delegates tokens to other validators, they are incentivized with inflationary ATOMs, and block transaction fees.

Allocation:

  • 5% of the ATOM tokens to initial donors
  • 10% to the InterChain Foundation.
  • 10% to Tendermint Inc.
  • 75% to private and public fundraisers.

Governance

Cosmos Network operates with an on-chain governance system conformed by a set of validators. These validators coordinate on- and off-chain to talk about proposals and begin protocol updates and constitutional amendments.

Members have voting rights, but the protocol is able to suspend their rights for a particular time if the member does not vote on a timed proposal. This rule is called Absenteeism Penalty Period. A validator needs to deposit if they want to submit a proposal, and the deposit can be made with one or more tokens, including ATOM.

ATOM can be bought on cryptocurrency exchanges, such as Kraken, Coinbase, or Binance. Users can receive ATOM as an incentive for becoming a network validator. To purchase ATOM, users can use their desired exchange platform and search for the $ATOM token.

Timeline

Funding Rounds

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Products

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Acquisitions

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SBIR/STTR Awards

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Patents

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Further Resources

Title
Author
Link
Type
Date

10 Reasons Why Cosmos Atom Will Be MASSIVE!

https://youtu.be/8UKSLgNM_m8

Web

May 29, 2021

21 Shares Launches First Crypto ETP for Cosmos (ATOM)

Varuni Trivedi

https://finance.yahoo.com/news/21-shares-launches-first-crypto-105450710.html?guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvL0trWTlXZDR4VFI&guce_referrer_sig=AQAAAJwAAE4mFmS0YzDO_nnF-crnBH2jJ_L45NMayjcJH3OME8lN6rNhOKIsf3L1VkWU-uD5NYjR6cx7iotFAS9X0jNgom4W1JOrqoQ1J0Dy8mGKR49dfRLSs_X524FAnrKJp-EwI9HJqb4uL7sbWDHPNLx3WLZy4rd3GnD1umvtuc-K

Web

January 20, 2022

Chiang

https://twitter.com/i/broadcasts/1zqJVBpyewmJB

Web

Cosmos (ATOM) - Computing, IBC Protocol, Bitcoin & more! - Interview with Jack Zampolin

https://www.youtube.com/watch?v=xTUCsRs89no

Web

April 14, 2021

Cosmos (ATOM) Staking Guide | Earn rewards with #Cosmos

https://youtu.be/IkmtzXudcZQ

Web

March 4, 2020

...

References

v1.cosmos.network
cosmos.network
Is a
Organization
Organization
Company
Company
Cryptocurrency
Cryptocurrency

Company attributes

Industry
Decentralized application (dApp)
Decentralized application (dApp)
Distributed ledger
Distributed ledger
Information technology
Information technology
Online marketplace
Online marketplace
Smart contract
Smart contract
Local search (Internet)
Local search (Internet)
...
Location
Zug
Zug
B2X
Marketplace
Marketplace
B2B2C
B2B2C
Founder
Ethan Buchman
Ethan Buchman
Jae Kwon
Jae Kwon
Legal Name
Tendermint Inc.
Number of Employees (Ranges)
51 – 200
Number of Employees
60
CIK Number
1,706,509
Investors
DRF Digital Renaissance
DRF Digital Renaissance
Hashed
Hashed
SoftBank Group
SoftBank Group
Mark Cuban
Mark Cuban
Sequoia Capital
Sequoia Capital
15
George Burke
George Burke
16
Coinbase Ventures
Coinbase Ventures
KR1
KR1
17
...
Founded Date
2016
Email Address
hello@tendermint.com
hello@cosmos.network
Total Funding Amount (USD)
17,000,000
Latest Funding Round Date
May 2021
Competitors
Stacks
Stacks
Chromia
Chromia
10
Aptos
Aptos
11
Nervos
Nervos
Celestia
Celestia
Klaytn
Klaytn
NEAR Protocol
NEAR Protocol
...
Business Model
Transaction processing / marketplace
Stock Symbol
ATOM
Exchange
MEXC Global
MEXC Global
Upbit
Upbit
Gate.io
Gate.io
Bithumb
Bithumb
Bitmart
Bitmart
Coinone
Coinone
Bitfinex
Bitfinex
DeepCoin
DeepCoin
...
CTO
Ethan Buchman
Ethan Buchman
Former CEO
Jae Kwon
Jae Kwon
Key People
Jae Kwon
Jae Kwon
Ethan Buchman
Ethan Buchman
Latest Funding Type
Initial Coin Offering (ICO)
Initial Coin Offering (ICO)
Wellfound ID
cosmosnetwork

Cryptocurrency attributes

Consensus Mechanism
Proof-of-stake
Proof-of-stake
Delegated proof of stake
Delegated proof of stake
Hash Function
‌
Scrypt
Ethash
Ethash
Ticker Symbol
ATOM32
Maximum Supply
286,370,297
Block Explorer URL
atomscan.com
atomscan.com/votes
explorers.guru
Announcement URL
blog.cosmos.network

Other attributes

Blog
v1.cosmos.network/newsletters
blog.cosmos.network
Circulating Supply
292,586,163
CoinGecko ID
cosmos-hub
Community Forum
blog.cosmos.network
Company Operating Status
Active7
Strategic Partnerships
Axelar
Axelar
Octopus Network
Octopus Network
KYVE
KYVE
CLV
CLV
The Graph
The Graph
CoinMarketCap
CoinMarketCap
Carbon Protocol
Carbon Protocol
8
...
Cryptocurrency Symbol
ATOM
ICO Amount Raised
32,000,000
ICO Date
September 18, 2017
Total Offering (USD)
1,000,000
Latest Funding Round Amount (USD)
17,000,000
Latest Release
September 19, 2018
License
MIT
9321
Market Capitalization
2,982,892,475
Medium URL
medium.com/@cosmosnetwork
Partner Organizations
Cosmostation
Cosmostation
Umee
Umee
Osmosis
Osmosis
CoinMarketCap
CoinMarketCap
Dropstab
Dropstab
25
axlUSDC
axlUSDC
Kadena
Kadena
Hacken
Hacken
...
Source Code
github.com/cosmos
Total Supply
286,370,29733
Wallet
trezor.io
wallet.cosmostation.io/cosmos
token.im
trustwallet.com/cosmos-wallet/
litewallet.io
keplr.app
safepal.io
ledger.com

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