April 29, 2019 Binance added a new coin, ATOM. As reported on the official website of the exchange, it was done without a listing fee. Well, let’s briefly analyze yet another blockchain project and try to find out if it has any prospects.
Features of Cosmos Platform
Impressively, but this project can already be considered a veteran. Its ICO was completed (attention!) on April 6, 2017. Before the listing on the finance, the platform token was available at many exchanging sites, however, it became known to a wide circle of the public only after a noble step by Binance (we mean free listing).
As claimed by the team, Cosmos is aimed to solve “today’s hardest” problems of blockchain, namely:
- Scalability. PoW protocols are considered slow and unscalable. Tendermint should fix this.
- Usability. Blockchain apps are difficult to understand for developers. Cosmos SDK features friendliness for them.
- Interoperability. Interblockchain Communication should connect different blockchains.
The platform is based on an adaptation of PoS algorithm, which is called Tendermint. It implies finalizing block by supermajority (2/3 of validators), safety threshold – 1/3 of validators, compatibility with private/public chains, etc.
Atom is the official token of the ecosystem. It is traded on Binance, Bittrex, Kraken, Gate.io, Huobi, Poloniex and other exchanges.
Cosmos (Atom) Price Prediction
At first glance, the platform does not stand out in any way. Its benefits are similar to those of many other projects. We mean, for instance, Wanchain, ICON, ARK.
The ability to create your own blockchain and connect it with other blockchains within the framework of this network seems to be relatively innovative.
In addition, the project has many partners that belong not only to crypto companies. Their list includes, in particular, e-Money (a European company that issues tokens tied to the price of real currencies), Regen Network (a project dedicated to environmental monitoring), etc.
The coin showed good growth at the listing announcement stage. However, after adding on Binance, its price fell. Based on our common observations and graph analysis, we predict price increase up to $7-8 by the summer 2019. This would be achievable in case of positive Bitcoin‘s dynamics.
Disclaimer. Don’t treat this forecast as investment advice. Always analyze situation on the market before making purchases of virtual coins.