Cosmos (CURRENCY:ATOM) traded 0.6% lower against the US dollar during the one day period ending at 23:00 PM Eastern on May 13th. Cosmos has a total market cap of $5.02 billion and approximately $771.24 million worth of Cosmos was traded on exchanges in the last day. Over the last week, Cosmos has traded 10.1% lower against the US dollar. One Cosmos coin can currently be bought for about $23.83 or 0.00048087 BTC on popular cryptocurrency exchanges.
Here’s how related cryptocurrencies have performed over the last day:
- Wrapped Bitcoin (WBTC) traded 0.7% lower against the dollar and now trades at $49,719.62 or 1.00328846 BTC.
- Creditcoin (CTC) traded up 1% against the dollar and now trades at $5.90 or 0.00011913 BTC.
- Venus (XVS) traded up 2.7% against the dollar and now trades at $108.84 or 0.00219619 BTC.
- Function X (FX) traded down 0.2% against the dollar and now trades at $0.58 or 0.00001165 BTC.
- Darwinia Network (RING) traded up 4% against the dollar and now trades at $0.0986 or 0.00000199 BTC.
- Phantasma (SOUL) traded 2.4% lower against the dollar and now trades at $0.46 or 0.00000920 BTC.
- mStable USD (MUSD) traded up 0.5% against the dollar and now trades at $1.01 or 0.00002040 BTC.
- Redd (RDD) traded up 1.7% against the dollar and now trades at $0.0011 or 0.00000008 BTC.
- StableXSwap (STAX) traded 3.5% lower against the dollar and now trades at $2.14 or 0.00004311 BTC.
- DAOstack (GEN) traded 36.7% higher against the dollar and now trades at $0.33 or 0.00000663 BTC.
According to CryptoCompare, “Cosmos is a network of many independent blockchains, called zones. The zones are powered by Tendermint Core, which provides a high-performance, consistent, secure PBFT-like consensus engine, where strict fork-accountability guarantees hold over the behaviour of malicious actors. Tendermint Core’s BFT consensus algorithm is well suited for scaling public proof-of-stake blockchains. The first zone on Cosmos is called the Cosmos Hub. The Cosmos Hub is a multi-asset proof-of-stake cryptocurrency with a simple governance mechanism which enables the network to adapt and upgrade. In addition, the Cosmos Hub can be extended by connecting other zones. The hub and zones of the Cosmos network communicate with each other via an inter-blockchain communication (IBC) protocol, a kind of virtual UDP or TCP for blockchains. Tokens can be transferred from one zone to another securely and quickly without the need for exchange liquidity between zones. Instead, all inter-zone token transfers go through the Cosmos Hub, which keeps track of the total amount of tokens held by each zone. The hub isolates each zone from the failure of other zones. Because anyone can connect a new zone to the Cosmos Hub, zones allow for future-compatibility with new blockchain innovations. The supply won’t be limited as the project plans to introduce a yearly inflatory model. “
Buying and Selling Cosmos
It is usually not currently possible to purchase alternative cryptocurrencies such as Cosmos directly using U.S. dollars. Investors seeking to trade Cosmos should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, Changelly or Gemini. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase Cosmos using one of the aforementioned exchanges.
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