Cosmos (ATOM): Why it's a Crypto GAMECHANGER!! 🚀

#IBC #Cosmos #ATOM
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📺Essential Videos📺

Previous Cosmos Vid 👉
ThorChain Review 👉
Polkadot Upcoming DeFi 👉
Cardano Upcoming DeFi 👉
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- TIMESTAMPS -
0:00 Intro
2:26 Cosmos Recap
5:48 Cosmos IBC Explained
8:30 Cosmos Updates
10:36 ATOM Price Analysis
12:45 Why Cosmos Has Struggled
14:50 Upcoming Cosmos Developments
16:43 Conclusion

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⛓️ 🔗 Useful Links 🔗 ⛓️

► List Of Cosmos Cryptocurrency Blockchains: https://cosmos.network/ecosystem/tokens/
► ThorChain DEX: https://app.thorswap.finance/
► Cosmos Explorer: https://www.mintscan.io/cosmos
► Gravity DEX Info & Registration: https://gravitydex.io/
► Cosmos “Roadmap” (Scroll To The Bottom): https://cosmos.network/features/

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👨‍🏫Cosmos Recap👨‍🏫

At the conceptual level you can think of the Cosmos network as being a collection of cryptocurrency blockchains.

Instead of using dozens of bridges to connect all of these blockchains together, the Cosmos network uses ‘hubs’.

Cosmos hubs are basically Cosmos blockchains that act as a single point which thousands of blockchains can connect to for interoperability with other connected chains.

💱Cosmos IBC Explained💱

The recent release of the IBC is believed to be one of the most significant milestones for the cryptocurrency space.

This is because Tendermint based blockchains aren’t the only ones that have become interoperable.

According to Tendermint Inc.’s CEO Peng Zhong, any proof of stake cryptocurrency blockchain can theoretically connect to the IBC.

Proof of stake cryptocurrency blockchains like Bitcoin and Ethereum can also connect to the IBC using Peg Zones which track the state of their blockchains.

📰Cosmos Updates📰

In September last year, Coinbase added ATOM staking to its exchange. In October, Coindesk reported that Cosmos was gaining popularity in India.

In January this year, it was discovered that Grayscale had filed a for a Cosmos trust. In February, Cosmos became the first public blockchain to integrate with China’s Blockchain Service network.

On the same day Cosmos’ IBC protocol went live, Tendermint Inc. announced that they would be allocating 20 million dollars to fund projects building on Cosmos.

📊ATOM Price Analysis📊

ATOM has seen a 5x move since the start of the year. This isn’t bad, but it’s nowhere near the growth that almost every other altcoin has seen during the same period.

ATOM has basically been trading sideways since late February, and the price pattern we’ve seen since then suggests that we might be on the verge of a breakout (which began while shooting the video).

🕵️‍♂‍Why Cosmos Has Struggled 🕵️‍♂‍

However, the tools that these teams built along the way such as the Tendermint consensus module and the Cosmos SDK were essentially created at the expense of the Cosmos blockchain itself.

Not only are these tools free to use, but the teams behind Cosmos also offered free support to any project looking to leverage them.

This is in stark contrast to just about every other cryptocurrency project which would have demanded that developers pay for these products using their native coin.

As a result, the emergence and growth of Cosmos based blockchains like Binance, Terra, and Crypto.com have had no impact on the price of ATOM.

📅Upcoming Cosmos Developments📅

The Gravity DEX is just one of many upcoming features that the Tendermint Inc. team hopes will add value to Cosmos and increase utility and demand for ATOM.

Another product in the works is the Gravity Bridge, which will add a Peg Zone to the Cosmos hub so that tokens can be transferred between Ethereum and the Cosmos blockchain.

By the end of 2021, Tendermint Inc. hopes to have its Interchain Staking service set up, which will make it possible for Cosmos validators to secure multiple auxiliary blockchains on a pay as you go basis.

The milestone that caught my eye the most is the introduction of staking derivatives to Cosmos in 2022, which will feature ATOM burning for any slashed collateral.

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📜 Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Cosmos #ATOM #crypto #IBC #blockchain #review