BITS OF INSIGHTS ON TRADE.IO AND COSMOS NETWORK
Sometime last week on telegram, a friend, @otemzi gave me an airdrop link to sign up on. Precisely, this airdrop required downloading a wallet from Google playstore - an atomicwallet. As usual, I was after the value of the token (if only it could convince me my effort would be worth anything). I learnt the token was trading at $0.16 at the time, and I could get about 50 of AWC upon downloading and registering on the app. I encountered some hitches in getting that app as it is incompatible with my mobile device and that meant I had to forgo the opportunity. Sad right? Well, so I quite put that airdrop behind me... until late last week when Cosmos Network appeared on oracle-d task #11 with their ATOM token being listed on Trade.io. What! Wasn't this the same project I got an airdrop link earlier to claim some free coins? That project must be something unique, I thought to myself. @Oracle-d wouldn't bring just any project anyhow to promote on his blog. To satisfy my curiosity and by so doing decide if it could be worthwhile stretching myself to get the wallet perhaps with someone's device, I decided to undertake a brief research on the project - cosmos network - alongside Trade.io exchange where its native token, ATOM recently got listed. My first step was to follow the CMC ATOM link as provided by @oracle-d in the present task request. There I found that ATOM was over $3. What a surge from $0.16 within a short time! I almost exclaimed within. I quickly did my calculation: $3*50 tokens I could get from that wallet signup. The result was motivating. This project must be a gem! My curiosity thus peaked, I went into the research proper. So here I decided to share my findings with you.
ABOUT COSMOS NETWORK
Ideally, every blockchain project seeks to solve some problem in the virtual or real world. Cosmos network is a recent addition to the long list of blockchain projects aimed at solving existing problems in blockchain technology.
Blockchains as we know in cryptoshpere today are totally independent of one another with no means of communicating between one another. This is a limitation that invariably results in further drawbacks such poor scalability and difficulty in upgrading the blockchains hence, poor performance by almost all the known blockchain networks.
Cosmos network steps in to tackle these challenges by offering an open network of distributed ledgers that would not only fix the existing problem, but would also
serve as a new foundation for future financial systems, based on principles of cryptography, sound economics, consensus theory, transparency, and accountability.
Specifically, Cosmos is a network of different independent blockchains(known on the network as zones) - ethereum, bitcoin, steem, neo, etc coordinated by a central blockchain/zone known as Cosmos Hub. This hub is designed with easy plug-ins and embedded with inter-communication protocols to allow any blockchain network to easily connect with it and through the communication protocol, exchange information with other parallel blockchains.
What a ground-breaking innovation!
Thus, Cosmos Hub is the blockchain that serves as a bridge for other blockchain networks. It hosts a multi-asset distributed ledger which is responsible for monitoring token transfer from one blockchain/zone to another as well as identifying and tracking token types of the different connected blockchains.
The major technology Cosmos introduces behind this network of blockchains is known as Tendermint Core, a consensus algorithm which is set in place to foster their interoperability(inter-communication), high performance (scalability), smooth upgradability, and security of the blockchains against attacks. This in turn is made possible by its light client security which ensures lightening speed in inter-blockchain communications/transfers while enforcing protection for the different blockchains, etc
Summarily, Cosmos Hub with its tendermint technology,
- Links different blockcains to one another
- Tracks different token types of different blockchains
- Keeps track of the total number of tokens in each connected zone/block chain
- Makes for prompt and secure transfer of tokens from one blockchain to another
- Hence, no need for a liquid exchange for tokens of different blockchain networks.
Hopefully with this crosschain ledger innovation, we would no longer have to swap our funds through exchanges just to acquire tokens of other blockchain networks. Things can only get easier with the right technology.
Being a blockchain-based project, Cosmos is powered by its own platform token known as ATOM which primary utility is staking. Holders of Atom token enjoy special privileges such as voting, delegation, etc on the platform.
Atom tokens are currently trading hot on a number of exchanges including binance, bittrex, huobi, and of course Trade.io.
Now let's take a look at the latter, Trade.io
TRADE.IO, THE FUTURISTIC EXCHANGE
Trade.io is one of the newest and I must say one of the best cryptocurrency exchanges with excellent user experience. Trade.io is a two-faced entity: an exchange for cryptocurrencies, and a blockchain-based investment and consulting firm.
Trade.io has noticeable features that make it indisputably unique and distinct from regular exchanges we are all used to, and it's not for its investment and consulting services. Here's the thing: Trade.io as an exchange and investment/consulting firm is built with a vision of meeting global economic needs - both present and future. Hence, it offers not only crypto assets on its exchange, but would also with time incorporate FX and global equities trading thus, setting a new standard in crypto economics. This way, it also effectively offers users/traders good options to diversify their portfolio and save then from huge losses in seasons of high crypto volatility. Little wonder then that a high classified and novel project like Cosmos Network with its groundbreaking technology would settle for no less a techy exchange for trading its precious ATOM tokens.
Being a trade.io user comes with lots perks - such perks that would make you feel highly exploited by other crypto exchanges that you might be tempted to sue them! On trade.io, you are charged zero fees for your deposits and very minimal withdrawal fee. Likewise for maker and taker fees - zero and quite little percent respectively.
These are good aspects that attract especially regular crypto traders to the exchange - much like moths to light. Who doesn't like good things? Obviously, Cosmos Network wishes its fans to enjoy trading their precious ATOM tokens in a safe haven, devoid of excessive charges/exploitations thus, maximizing their profits/investments.
Other noteworthy features that make trade.io distinct are;
- It offers high liquidity for crypto assets. Users can buy their coins with fiat like USD and EUR.
- Executes transactions with lightening speed.
- Quick support service, reachable via different channels - email, telegram, chat
- And last but not the least, it has an affiliate program you can join in and earn extra revenue.
Trade.io is accessible both on web and app which is available for free download on Google play and app store.
This platform is legit in all ramifications. It is a registered company in Hong Kong and is compliant with regulatory authorities.
While still in course on my little research and trying to find more about the atomicwallet airdrop from cosmos network telegram chat, I found that they we're confused about my questions. Not wanting to stress the admins there further, and with the urge to check out on atomic wallet coin on cmc (since the friend informed me it was listed), I hit the coin market once again. Yes, AWC was there... and with a different logo from ATOM! Ouch! It occurred to me I must have mixed things up. But I had to get an absolute confirmation. So I decided this time to visit the atomic wallet chat group I found on the CMC page. Here, I got my confusion cured.😂😂
One of the admins kindly explained to me that their project had nothing whatsoever to do with cosmos network!
What a huge disappointment! My earlier calculations rendered void!
And that brought my little research to an unhappy conclusion - though of course I'm glad for my findings in these two great projects - Trade.io and Cosmos Network.
So the bottom line here is: the projects Atomic Wallet.io(with token AWC), Cosmos Network(with token ATOM), and Atom project (with token Atomic Coin) - all found on CMC - are entirely different entities, each with its own distinct area of concern. And I needn't add that you must take great care not to get them mix up (as I did with the first two) especially when trying to purchase either of the coins from an exchange.
To get your Cosmos Network Token while early preferably, consider trade.io with its numerous benefits. Then simply look out for the ticker ATOM before placing your order. Nothing more, nothing less. A stitch in time saves nine. Buy safe, trade safe, and enjoy your gains...
Here are some links to Trade.io and Cosmos Network you might find useful: