What is Cosmos (ATOM)?
Cosmos aims to create an “Internet of Blockchains,” where any blockchain is able to communicate, share data, and transact with any other.
Cosmos is a interblockchain communication protocol that makes it easier for different blockchains to connect and share data with each other. It also prevents fragmentation in the industry.
Cosmos is described as “Blockchain 3.0” — and the big goal is ensuring that its infrastructure is straightforward to use. To this end, the Cosmos software development kit focuses on modularity. This allows a network to be easily built using chunks of code that already exist. They have also created a streamlined development process that allows developers to create their own custom blockchain in months or even weeks, instead of years.
One of the most similar projects to Cosmos is Polkadot, which also seeks to create an ecosystem of interoperable blockchain networks. However, unlike Polkadot, Cosmos prioritizes the sovereignty of independent blockchains, meaning they must secure themselves, have their own governance, and run their own validators.
The native tokens of the Cosmos network are called ATOMs. Holding ATOMs gives the holder the ability to stake and validate blocks, vote on governance issues, and pay for transaction fees.