Question 1

What is the current price of Cosmos Hub (ATOM)?

Accepted Answer

The current price of Cosmos Hub (ATOM) is A$ 2.02.

Question 2

Can you briefly explain Cosmos Hub (ATOM)?

Accepted Answer

Cosmos Hub (ATOM) is part of the larger Cosmos network. This network consists of many independent, parallel blockchains referred to as \"zones\". Each zone operates independently using a Byzantine fault-tolerant (BFT) consensus protocol such as Tendermint, which is already being used by platforms like ErisDB. The key feature of Cosmos is its ability to interoperate with multiple other applications and cryptocurrencies, which is a significant challenge for other blockchains. A new zone can be established to connect any blockchain system into the Cosmos Hub, allowing tokens to be passed back and forth between zones without the need for an intermediary.

Question 3

What are the use cases of ATOM, the native token of Cosmos Hub?

Accepted Answer

Cosmos Hub’s native token, the ATOM, holds a special position in the multi-asset distributed ledger. There are three main use cases of Atoms: - **Spam Prevention**: Atoms are utilized to pay transaction fees as a spam prevention mechanism. These fees could be proportional to the amount of computation needed by the transaction, mirroring Ethereum's \"gas\" concept. - **Staking**: ATOMs can be \"bonded\" to earn block rewards. The more Atoms that are bonded, the greater the economic security of the Cosmos Hub as the cost to attack the network increases. - **Governance**: ATOM holders can participate in the Cosmos Hub's voting on proposals process with their staked ATOMs, giving them an active role in its governance.

Question 4

How does Cosmos Hub (ATOM) achieve interoperability?

Accepted Answer

The distinctive feature of Cosmos Hub (ATOM) is its ability to achieve interoperability with multiple other applications and cryptocurrencies. This capability is powered by the architecture of the Cosmos network—which employs parallel, independent blockchains (zones) that are interconnected by hubs. By creating a new zone, any blockchain system can be plugged into the Cosmos hub, enabling the seamless transfer of tokens between zones without the need for intermediaries. This feature addresses the common struggle of other blockchains to interoperate effectively.

Question 5

Where can you purchase Cosmos Hub (ATOM)?

Accepted Answer

Cosmos Hub (ATOM) can be bought from the Coinbase Pro, KuCoin, Kraken, Gate.io, BigONE.

Question 6

What is the supply of Cosmos Hub (ATOM)?

Accepted Answer

There are currently 540.4M ATOMs in circulation out of a maximum total supply of 540.4M.

Question 7

How secure is Cosmos Hub (ATOM)?

Accepted Answer

The economic security of Cosmos Hub directly correlates with the amount of ATOMs staked. The more ATOMs that are bonded, the higher the cost to attack the network. That’s a mechanism by which Cosmos not only ensures the security of its network but also incentivizes participation for its token holders by allowing them to earn block rewards by bonding their ATOMs.

Question 8

How does Cosmos Hub (ATOM) use Byzantine fault-tolerant (BFT) consensus protocols?

Accepted Answer

BFT consensus protocols like Tendermint are integral to the operation of Cosmos Hub's parallel blockchains or \"zones\". These protocols are designed to enable a system to function reliably even when some nodes (representing less than one-third of the ecosystem) may fail to respond or behave maliciously. This makes the Cosmos Hub robust against failures and decentralized in terms of governance and operations.

Convert ATOM to AUD

Try our Crypto Pro app