The details for ATOM 2.0 will be revealed in four days during Cosmoverse. Community members expect the token’s inflationary monetary system to be substantially revised.
ATOM 2.0 on the Horizon
Big things are coming for the Cosmos ecosystem.
ATOM is at present trading at $14.7, up 10.3 percent on the day. While most major digital currencies, including Bitcoin, are revisiting their summer bottom Line, the Cosmos crypto token is still up 152 percent since June 19.
The coin’s strength in the face of the broader downturn may be due to speculation surrounding ATOM 2.0, the specifics of which will be publicized during an upcoming Cosmos conference. Cosmoverse will be held in Medellín, Colombia, from September 26 to 28 and will feature Cosmos co-founder Ethan Buchman and osmosis labs co-founder Sunny Aggarwal as speakers, between several others.
Details around ATOM 2.0 will be made public on the 1st day of the conference, with Buchman scheduled to unveil the token’s whitepaper at 14:30 UTC and Sommelier co-founder Zaki Manian to expand on the coin’s revamped tokenomics at 15:40 UTC in a talk entitled “$1K ATOM LFG.” A panel dedicated to ATOM 2.0 will likewise be held on the third day at 21:30 pm UTC.
Cosmos is a decentralized network of independent blockchains tech, with ATOM as its leading crypto token. Its Inter- Blockchain Tech Communication protocol (IBC) enables users to seamlessly hop from one blockchain tech to another. At the time of publication, there are 42 different IBC-connected blockchains tech, including the Cosmos Hub, decentralized exchange Osmos, smart-contract platform Juno, EVM-compatible chain Evmos, and privacy blockchain tech secret Network. As reported by the Cosmos webpage, the network’s cumulative market cap at present stands at $9.72 billion, placing it only slightly below Solana’s $11.4 billion.
The ATOM crypto token is used to secure the Cosmos Hub. Not to be confused with the broader Cosmos ecosystem, the Cosmos Hub is a blockchain tech in particular designed to connect all the other blockchains tech in the network. The Keplr dashboard indicates ATOM staking bonus at present sit in the middle of 15.19 percent and 18.99%, depending on the validator one delegates to; the yield is constituted of ATOM emissions and Cosmos Hub transaction fees.
Nonetheless, ATOM has received criticism for its inflationary tokenomics. The coin’s inflation price is conditional on ATOM staking percentages. As reported by Messari, if greater than two-thirds of the supply is staked, the inflation price gradually decreases until it hits 7%; less than two-thirds, and ATOM can reach up to 20 percent annual inflation. By comparison, Ethereum’s inflation price is currently at 0.19%; even before the blockchain’s upgrade to Proof-of-Stake, its crypto token supply increased by about 4.62 percent yearly.
Prominent Cosmos community members have speculated that ATOM 2.0 will fix the coin’s inflation price by introducing a burning mechanism or a hard cap to the coin’s total supply. Another positive development for ATOM is the upcoming launch of Interchain Security, which will put the Cosmos Hub in charge of securing the entire IBC network, not just the Hub itself. Stakers will likewise begin receiving bonus from other IBC blockchains tech, depending on the validator set they chose. Interchain Security is set to launch in January 2023.
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