Cosmos is a Proof-of-Stake cryptocurrency that went live on the mainnet on March 13, 2019. Cosmos was launched by Tendermint Inc, a software development company that was appointed by Swiss non-profit Interchain Foundation to develop the cross-blockchain ecosystem.
Cosmos aims to develop blockchain interoperability and create a scalable ecosystem of blockchains, which allows different Dapps to interoperate on a single platform. The developers believe that Cosmos may contribute to solving some of the main problems in blockchain, such as scalability and interoperability. The ICO for the same was launched in 2016 and raised a whopping $16 million a year later.
According to Diar, nearly 40% of Atoms [tokens on the network] have been bonded to 82 of the possible validators. The number validators will reach a maximum of 300 throughout ten years, but can be voted to increase. The 0% of the bonded Atoms is worth approximately $300 million and is likely to rise in the upcoming days.
Although it was launched recently, Cosmos climbed the ranks of Proof-of-Stake table in terms of the value of the USD staked on the blockchain. The chart attached shows that it ranks third, just below EOS and Dash. EOS has a total of $1.81 billion staked, while Dash has $431 million staked. A total of $308 million is on the Cosmos network and adds up to 39% of the total supply.
“The next phases for the Cosmos network participants are to vote on the ability to transfer Atom tokens and the initiation of the Intercommunication Blockchain Protocol (IBC) that would allow for other blockchains to connect to Cosmos Hub, its primary intended purpose.”
Cosmos faces competition from the likes of other PoS cryptocurrencies like Cardano [ADA],