Cosmos is a Distributed Ledger Know-how that permits completely different blockchain networks to speak and change information with one another. It’s the most scalable and customizable platform for constructing high-performance decentralized functions. It’s also known as the “Web of blockchain” community that goals to resolve three important problems- usability, interoperability, and scalability.
The perfect half is it runs on a Proof of Stake (PoS) consensus however solves the inherent issues of crypto networks that run on the Proof of Work (PoW) consensus. For instance, Bitcoin runs on PoW consensus however faces points with scalability.
Bitcoin can hardly do 5 to 10 transactions per second, however the Cosmos crew claims to accommodate rising numbers of community customers. In addition they assume PoW-based blockchain networks are gradual and costly, however Byzantine Fault Tolerant (BFT) blockchain consensus can resolve these scalability points correctly.
The Cosmos crew has years of expertise within the trade and the aptitude to develop new know-how within the crypto trade. We predict you have to think about Cosmos for the long-term portfolio, however earlier than investing, please learn the technical evaluation to get a broader view of the ATOM worth prediction.
On the time of scripting this put up, ATOM WAS buying and selling round $14.10. It has been in an uptrend forming candlesticks within the higher vary of the Bollinger Bands for the reason that second week of June. It suggests a constructive momentum within the crypto market.
The Cosmos (ATOM) worth has crossed the resistance round $13. Most technical indicators replicate bullishness for the quick time period, so we expect it is a perfect time to take a position for the quick time period.
The long-term chart is bullish as a result of candlesticks are forming within the higher vary of the Bollinger Bands, however we expect Cosmos might face resistance round $15; if it crosses the extent, the following resistance shall be $25.
MACD and RSI are bullish, so we expect you must think about ATOM for long-term or medium-term investments. It is going to present enormous returns on funding which is nice for the medium time period.