Simple Introduction of Cosmos Project - The Internet of Blockchains
.png)
Background Image Source- Canva.com/Location
Assalam-o-Alaikum Steemians !
I'm @moneyster, a professional level Cryptocurrency investor and an analyser. As usual, today I thought to share another Crypto-related experience with you. I hope this article will be considerably beneficial for all the Steemians in this community
.gif)
 |
|---|
The main ambition of this Cosmos project is to keep the communication between other blockchains. That's why this blockchain is also known as the Internet of Blockchains. Therefore, this Cosmos Blockchain is doing a significant contribution to the Cryptocurrency Field.
Thir native Coin is known as the Atom coin which is the most popular coin among all the Crypto fans. The most interesting thing about this Cosmos Blockchain is that it runs as a good ecosystem. Because they are working on the Proof of Staking Mechanism instead of the Proof of Work mechanism which consumes a lot of energy.
In the Cosmos Blockchain, they have introduced their mechanism to accomplish all the Transactions within less than 7 seconds at a fee of almost $0.01. So, we already know it is a good advantage for all the investors to do their Transactions without much delay and much cost.
They are also providing opportunities to build new applications on their Blockchain with the help of Cosmos SDK. Furthermore, the developer interface of their Cosmos SDK platform is very easy to handle. And also, this Cosmos SDK is built on a very secure framework exactly like the Ethereum project.
Additionally, Cosmos Blockchain is providing good staking rewards for their Native Crypto Coin which is Atom. We can use this Atom Coin in conjunction with Atom supported Private wallet to stake these coins and earn higher rewards as a passive income. I will further explain this Cosmos Blockchain and its benefits at the end of this article.
Cosmos Blockchain is a very fast Cryptocurrency project as compared to other Cryptocurrency projects. So, we have the ability to accomplish all the Transactions within a few seconds. This Cosmos Blockchain is working as a good eco-friendly project and it doesn't consume much energy for validating Transactions hence it is more reliable. Anyone can easily create valuable applications in this Cosmos Blockchain with a very familiar and easy to use interface. With the help of this Cosmos Blockchain's native Crypto coins, we can earn rewards as a passive income by staking them on the platform. So, our stakes will be kept in a secure and reliable space exactly in our private wallets. Therefore, we don't need to worry about the security of our Crypto coins which we have staked in the Project.
First of all, we can use the Binance exchange for the Staking Atom coin in the Binance staking panel. Currently, they are providing 30.49% estimated APY as a Guaranteed Stake in the Binance exchange. Below I have include a screenshot of the Binance exchange earning dashboard with Atom Coin's staking details.
 |
|---|
And also, we can use the Cosmos Hub to Stake our Atom coins very securely by delegating our Atom coins to other validators in the Blockchain. For that, we have to install keplr mobile application wallet or wallet Extention to store our Atom Coins. Then, we can delegate our Coins to other validators and get rewards. Below I've taken a screenshot that I have taken from the Cosmos Hub Staking panel.
 |
|---|
In this way, we can use these Atom Coins for getting higher rewards with relatively low risk. However, during a significant downtrend, the value of our investment can be decreased. But, as a bit long term investment, it will be very good. At the same time, we can use this Atom Coins staking as a passive income for accomplishing our daily income.
I have studied the below-sourced articles to further study these topics and I have explained all the above facts in my own words and experience.
10% benificiary set for @tron-fan-club
Thank you so much for taking the time to talk to us about the Cosmos Project.
You are most welcome brother. I always try to create high quality creations here.
Twitter Shared
https://twitter.com/moneyster12/status/1526634869152940038?s=20&t=wkC0FBffq7U-7DBmbAqUVA
Note: You must enter the tag #fintech among the first 4 tags for your post to be reviewed.
Thank you very much @nane15 for your cooperation. I really appreciate it from the bottom of my heart.
This is a very nice blockchain thanks @moneyster for writing about it, I love the fact they are able execute transactions in less than 7 seconds and with minimal fee also
Thank you very much for your valuable comment here. It really motivates me to do such creations again.
Thank you so much for discussing the Cosmos Project with us.
You are most welcome and I appreciate the valuable comment that you have presented here.
Cosmos offers a lot of benefits, it's known for it faster TP (Transaction processing) and low cost.. you've explained this concept in an easy to understand manner..
It's a good read
You are 100% correct. I highly appreciate the ideas which you have provided here. Thank you very much for sharing your knowledge with me.
Hi!
I invite you to take part in the competition Steem-market.com with guaranteed prizes: https://steemit.com/hive-153018/@steemit-market/4ynk6n-steem-market-opens-the-prize-money-is-50-steem-everyone-is-guaranteed-a-prize
Good luck!
It's very interesting to realise that cosmos block chain also runs on staking and it is very fast
Thank you very much for sharing your idea here. I really appreciate it.