The crypto industry solves many problems inherent in the traditional centralized financial system. But this does not mean at all that the industry does not have its own problems, which manifest themselves as it is introduced into various sectors of the economy.
What is Cosmos (ATOM)
Bitcoin was the first successful cryptocurrency and remains consistently popular. The king of the market is forgiven for everything: insufficient bandwidth, problems with scalability, rather high transaction costs and an increasing negative impact on the environment. However, this cannot continue indefinitely, especially in light of the growing demands of market participants.
Cosmos is one of the projects aimed at solving some of the most pressing problems of blockchain technology. First of all, it is an alternative to the energy-intensive and clumsy Proof-of-Work mechanism. Another goal stated by the Cosmos developers is to simplify the implementation of blockchain technology, make it more accessible to developers of decentralized applications.
Another important development of the project is a protocol for communication between blockchains, which facilitates interaction between networks and thereby prevents further fragmentation of the industry.
Work on the project began back in 2014, when the 2014 company was created. In 2016, white papers were published and a few months later, the sale of ATOM tokens took place.
Unique features Space
The number of blockchains is already in the hundreds, with thousands of digital assets traded on the market. The problem is that not all platforms can communicate with each other.
Space is positioned as blockchain 3.0 with the most convenient infrastructure. The Komsos Software Development Kit is focused on modularity. That is, the network can be built using ready-made code snippets. In the long term, it is planned that this principle can be used to easily create complex applications.
Another priority of the network is scalability. Bitcoin and Ethereum are already experiencing difficulties, and insufficient speed is one of the indicators in which the first blockchains are far behind traditional payment systems.
ATOM, Cosmos’ native token, is based on the Proof of Stake algorithm. This algorithm improves network throughput and consumes less power.
ATOM tokens can be earned by staking. They are used for settlements within the network, payment of rewards and security. They can be exchanged for fiat and digital currencies, bought, sold, used as an investment tool.
According to CoinMarketCap, the coin ranks 16th in the ranking of the most valuable cryptocurrencies. ATOM is traded on many major exchanges, the ATOM to BTC exchange is available on 16 platforms, including Binance, Poloniex, OKEx, Gate.io.
If you are not a user of a platform where ATOM trading is available, you are not satisfied with the current exchange rate, or you want to remain anonymous, it is better to use the services of LetsExchange.
How it works
There is no need to register an account on the LetsExchange platform. You just go to the main page and sequentially fill in the fields of the exchange widget:
- In the upper field, select ATOM and indicate the amount of coins for sale.
- In the lower field, select BTC. Calculation at the current rate is performed automatically.
- Specify the wallet address.
- You make a deposit.
- Click the “Exchange” button.
While you enter the swap input data, the Smart Rate system compares the available deals and selects the best one for you. As soon as you confirm the application, the transaction is completed and the purchased coins are credited to your wallet. This will take as long as it takes to record the transaction on the blockchain.
Cryptocurrency exchange on LetsExchange is extremely simple, very fast and completely safe.