All the key information for considering whether to buy Cosmos (ATOM), available now
Now you can finally buy, sell and hold ATOM on Young Platform. Learn about the key features of this project and the uses of its crypto to find out if it’s right for you!
Cosmos: all the things you need to know
The project was founded in 2017 by two software engineers, Jae Kwon and Ethan Buchman. Its development is supported by the Interchain Foundation, a nonprofit organisation, and the company Ignite (formerly Tendermint). The platform was officially launched in 2019.
What distinguishes Cosmos from most blockchains is its strong interoperability. Indeed, it reminds us of the structure of Polkadot: it is a large ecosystem for simplified development of native blockchains.
In fact, Cosmos more than being a blockchain is an interchain, which is that structure that provides blockchains with a common protocol of operation. Any chain built on Cosmos, therefore, naturally enjoys strong interoperability, scalability and flexibility: you can develop application-specific blockchains without having to worry about developing the fundamental architecture.
One such blockchain is the Cosmos Hub, whose cryptocurrency is precisely ATOM. The token is usable in all other Cosmos blockchains, but it was created specifically for the original Hub.
Other projects built on this platform are Cronos, Kava, Osmosis, ThorChain and soon the new dYdX blockchain.
ATOM crypto can be used in these ways:
- To pay transaction fees on the network
- To stake them either as a validator or by delegating
- To receive rewards for staking
- To vote in decentralised governance processes
- To use it in blockchain and applications built on Cosmos
In the future, it will also be possible to use staked ATOMs, thanks to liquid staking, which is being developed. This will also limit the token’s inflationary pressure, promoting its growth in value. Learn more about how Cosmos works on the Academy!
How to use ATOM on Young Platform?
Here are all the features available for Cosmos (ATOM) on Young Platform and Young Platform Pro:
- Buying and selling with EUR
- Recurring purchase
- Deposit from another wallet or send through the Cosmos network
- Creating a Single Coin Moneybox or Bespoke Bundle
