Cosmos Price Today

The current real-time Cosmos price is $6.31 . ATOM price has plummeted by 0.31% in the last day and increased by 6.94% in the last seven days. It’s important to note that the current Cosmos market capitalization is $2,468,509,874. The maximum supply is coins, with a circulating supply of 390,930,671.00. ATOM is ranked #36 in terms of market cap.

The Basics of Cosmos

Cosmos is an innovative crypto project fostering interoperability within the industry by building a network of networks using its Inter-Blockchain Communication protocol technology. Cosmo’s ecosystem of blockchains is connected through the Cosmos Hub, creating what the project’s founders have dubbed the Internet of Blockchains. 

Cosmos benefits from high throughput and fast settlement times, making the network ideal for applications where speed and scalability are critical. 

Cosmos was created in 2014 when Jae Kwon, Ethan Buchman, and Zarko Milosevic founded Tendermint, the consensus algorithm that powers the Cosmos network. While Kwon is still involved with the Cosmos project, he stepped down as its CEO in 2020.

The Mechanics of Cosmos

The Cosmos network is divided into three layers, each handling a particular task within the ecosystem. The application layer was created to process transactions or changes to the network’s state. The networking layer was built to facilitate communication between blockchains via the IBC protocol, and the consensus layer helps to manage nodes and order transactions. 

Cosmos utilizes a modified version of the Proof-of-Stake (PoS) consensus mechanism dubbed Tendermint for transaction validation. The Byzantine Fault-Tolerant (BFT) system can achieve consensus when just 66% of validator nodes operate correctly, making it fault-tolerant. Moreover, Tendermint offers near-instant transaction settlement. 

Two core components of the project are the Cosmos network and its native ATOM token. As a PoS cryptocurrency, people can stake ATOM tokens to earn crypto rewards and secure the network by becoming a validator node. Moreover, people staking ATOM tokens are granted voting rights, enabling them to make their voices heard regarding new proposals.

Unique Aspects of Cosmos

Most blockchains cannot easily communicate with one another, leading to a lack of synergy and fragmentation within the cryptocurrency space. However, Cosmos is set to tackle this issue by providing an interoperability layer that can connect different layer-one blockchains, like Bitcoin, through its innovative Inter-Blockchain Communication (IBC) protocol. 

A significant advantage of Cosmos is its modular design approach. As a result, other cryptocurrency projects can straightforwardly implement Cosmos’s IBC technology to facilitate interoperability with other IBC-enabled blockchains. A great example is Crypto.com’s Cronos, which implemented the technology and can communicate with other IBC cryptos. 

Thanks to its Tendermint technology, Cosmos makes it simple for developers to build new blockchains using its underlying architecture. Instead of creating a blockchain from scratch, Cosmos’s modular nature allows people to implement core features like a consensus algorithm without any coding. 

Notable Cosmos Projects

Cosmos’s ecosystem has grown considerably since its launch, with the project’s IBC protocol implemented in several notable crypto projects. Some of the most popular IBC-enabled cryptos include Cronos, Stargaze, Terra, Juno, and e-Money. 

Cosmos Price History

Investors could first acquire ATOM through an Initial Coin Offering (ICO) held in 2017, which saw tokens sell for $0.10, affording early investors 4,870% returns based on today’s prices. Upon its official launch in March 2019, ATOM was listed for $6.63, but the token quickly dropped in value, falling to around $3.95 in May before dropping further to $2.15 by September. 

Early 2020 saw ATOM drop as low as $1.6673. However, as the hype surrounding the IBC protocol increased, ATOM gained momentum, rising to around $5 by the end of the year. Throughout 2021, ATOM exploded as a result of the bull run and the launch of the IBC protocol, leading ATOM to hit $29.48 in May before rocketing to an all-time high of $44.70 in September. 

While ATOM went into 2022 at around $30, the asset crumbled as the market corrected, falling as low as $6.3271 in June. Subsequent months were volatile, with ATOM rising to around $16.46 by September. However, after rising from around $9 in December 2022, ATOM fell sharply throughout 2023, dropping to $6.2993 in October. 

While the early 2024 price surge saw ATOM rise to around $11 and as high as $14.12 in March, the asset currently trades for $6.31 today.