Buy Cosmos

Cosmos is a blockchain ecosystem that facilitates the launch of new blockchains and the interoperability between different blockchains. The goal of Cosmos is to solve the biggest problems in the blockchain world, namely scalability and interoperability, which is why Cosmos is often described as a layer 0 blockchain and 'Internet of Blockchains'.

Within Cosmos, developers can easily develop and launch their own blockchain using tools. These individual blockchains are called “zones” and are all connected to the Cosmos Hub, the master blockchain of the Cosmos ecosystem. Within this ecosystem, the different blockchains can communicate with each other and transact using various technologies and protocols, such as Tendermint Core, the Cosmos SDK, and the Inter-Blockchain Communication (IBC) protocol.

ATOM is the cryptocurrency of Cosmos and plays an important role in the Cosmos ecosystem. It is used to pay transaction fees and for staking. By staking ATOM, users contribute to the security of the network and have a say in important decisions through the voting process. Furthermore, it incentivizes token holders to actively participate in the development and governance of Cosmos.

Who founded Cosmos?

Cosmos was created by Jae Kwon and Ethan Buchman, who created Tendermint in 2014, which serves as the basis for Cosmos. The project is managed by the Interchain Foundation (ICF), a Swiss non-profit organization dedicated to the development of open-source blockchain projects.

Cosmos provides several capabilities for both developers and end users, including enabling them to:

• Build interoperable blockchains: Developers can use the Cosmos SDK to design interoperable blockchains that are able to communicate with each other, exchange value, and collaborate without limitations.
• Develop decentralized applications (dApps): The modular design allows developers to build dApps on their own blockchains, offering users better performance compared to dApps on traditional, congested networks.
• Participate in governance: Both developers and end users can participate in the governance of their own blockchains within the Cosmos Network, as well as in the overarching governance of the Cosmos Hub.
• Token creation and exchange: Cosmos enables the creation and exchange of new tokens between different blockchains within the network. This opens up possibilities for cross-chain DeFi applications, token swaps, and more.

Cosmos has a unique architecture that is specifically designed to connect different blockchains. At the centre of this architecture are several technologies and protocols, such as Tendermint Core, the Cosmos SDK, and the Inter-Blockchain Communication (IBC) protocol. These work together to create a scalable and interoperable blockchain network.

The Cosmos network consists of three layers, namely the:

• Application layer: This layer processes transactions and updates the state of the blockchain network.
• Network layer: This is where communication between transactions and blockchains is supported.
• Consensus layer: This layer helps nodes reach an agreement on the current state of the blockchain network.

Tendermint

Tendermint Core is the proprietary consensus mechanism that Cosmos uses to enable fast and secure transaction processing. Based on Proof-of-Stake (PoS), Tendermint runs on the consensus layer and ensures consensus between nodes. This allows developers to focus entirely on building applications without having to worry about the operation of the underlying network.

Cosmos SDK

The Cosmos SDK (Software Development Kit) is a framework that provides developers with tools to build their own blockchain and decentralized applications (dApps). Its modular design makes it easy to add or modify features.

Inter-Blockchain Communication (IBC) protocol

Cosmos distinguishes itself from other blockchains through its Inter-Blockchain Communication (IBC) protocol, which allows different blockchains to communicate and exchange data. IBC is a standardized communication method that allows independent chains, with different programming languages and protocols, to communicate with each other securely and efficiently.

ATOM is the cryptocurrency of Cosmos and has several functions within the network. Users pay transaction fees within the network with ATOM and can stake it. Holders can stake ATOM to contribute to the security of the network and also have the ability to vote on various proposals within Cosmos. This gives token holders direct influence on future developments and decision-making within Cosmos.

Cosmos uses a dynamic inflation model where the total supply of ATOM increases by issuing new tokens as a reward for the staking process. This model incentivizes participation in the network and ensures its security.

Cosmos distinguishes itself from other blockchains through unique features in terms of interoperability, scalability and ease of use:

• Independent blockchains: Developers can create independent blockchains that manage their own governance and operations, while still being able to communicate with other chains in the Cosmos network.
• Tendermint consensus mechanism: Tendermint provides a fast, secure, and energy-efficient way to reach consensus within blockchains.
• Inter-Blockchain Communication (IBC) protocol: The IBC protocol enables communication between different blockchains, allowing Cosmos to create an 'Internet of Blockchains'.
• Upgrading without hard forks: Blockchains can upgrade without hard forks, allowing the network to evolve without splits or divided communities.

Cosmos and Ethereum both provide platforms for decentralized applications, but they approach this goal in different ways. Ethereum is a single blockchain on which smart contracts are executed, however the network suffers from scalability issues, resulting in high transaction fees and long processing times.

Cosmos uses a network of independent blockchains that can communicate with each other, allowing for higher scalability and interoperability. Additionally, Cosmos uses the Tendermint consensus mechanism, which offers faster transaction confirmations and a more cost-efficient solution compared to Ethereum's Proof-of-Stake (PoS) mechanism. These differences make Cosmos attractive to developers looking for scalability and flexibility in their blockchain applications.

Cosmos (ATOM) can be purchased at Bitvavo, a platform that is suitable for both novice and experienced traders. Follow these steps to buy ATOM via our website or mobile app:

1. Sign up or log in to your Bitvavo account.
2. Make a deposit by clicking "Deposit".
3. Go to the Cosmos buy page.
4. Specify the amount in Euros you wish to invest or the number of ATOMs you want to buy and click "Buy".

The cost of Cosmos tokens is directly linked to the price. After purchase, your ATOM tokens are automatically added to your Bitvavo account, where you can easily manage and trade them, in order to react quickly to market movements.

You can safely store your Cosmos tokens in your Bitvavo account, where we keep the majority of client funds in secure cold storage managed offline. Enabling two-factor authentication (2FA) is highly recommended as an additional security measure.

For those who prefer personal storage, most software and hardware wallets now support Cosmos. Simply buy ATOM and move it to your own wallet by linking the wallet address to your Bitvavo account, giving you full control over your coins.