Cosmos ATOM Price Could Experience a Major Recovery

The Cosmos ATOM price is on the brink of a significant recovery as Atom News announces its intent to become the internet of blockchains. While Ethereum enjoys recognition as a groundbreaking supercomputer, Cosmos (ATOM) claims the title of “the internet of blockchains.”

ATOMIC cryptocurrency is currently on the rise, gaining 6.6% over the past week, signaling a potential shift after a prolonged downward trend in the market. But what exactly does Cosmos do, and what role will it play in the cryptocurrency ecosystem?

The Origins of Cosmos

The initial development of Cosmos began in 2014, led by seasoned blockchain developers Jae Kwon, Zarko Milosevic, and Ethan Buchman. It introduced its whitepaper in 2016, successfully raising over $17 million through its ICO. After numerous tests, its mainnet was launched in early 2019, gradually gaining attention and reaching new all-time highs of $40 in September 2021.

In recent changes, Jae Kwon stepped down as CEO of Tendermint, and was succeeded by the experienced entrepreneur Peng Zhong.

Addressing Blockchain’s Challenges

Cosmos aims to resolve the isolation suffered by numerous blockchains by promoting cross-chain interoperability. Its vision of “Blockchain 3.0” looks to integrate these fragmented networks to establish an interconnected system, thus enhancing their cooperation.

Cosmos operates on a Hybrid Proof-of-Stake (HPoS) mechanism, a modern variant of the standard stake model. This innovation combines features of both Proof-of-Work and Proof-of-Stake to optimize network efficiency.

Final Thoughts on Cosmos ATOM Price

As Ethereum faces increasing competition, Cosmos is preparing to stake its claim in the blockchain arena with its rapid, eco-friendly network designed to facilitate seamless interoperability between blockchains. With robust fundamentals and a specified vision, Cosmos is strategizing to rise amidst a growing pool of Ethereum challengers.