Cosmos (ATOM) Cryptocurrency not correlated with Bitcoin PriceJanuary 28, 2020
- Cosmos Facilitates smart contract based on agreed-upon logic
- ATOM does not correlate with Bitcoin
- CosmWasm for multi-chain Contracts
- Developer Adoption facilitating customization of models
- ATOM is different from Atomic Coin – they are not the same
Smart contracts function based on a logic that is established in an agreement. As opposed to creating a simple payment transaction, multiple payment transactions are facilitated based on agreed-upon logic.
A recent report from Binance stated that ATOM is least concerned with the price movements of Bitcoin. It does not have a linear relationship with the Bitcoin price. The median annual coefficient is at 0.31.
Binance noted, “If the returns of two assets do exhibit a positive correlation, it implies that these two assets tend to move in the same direction, and therefore share similar risks.”
Sydney Ifergan, the crypto expert, tweeted: “The cryptocurrency space is beginning to evolve. Bitcoin was new when it originated. With several others coming to the crypto market, each of them is coming up with their best, like the cryptocurrency ATOM carving a space of its own.”
For people, it is ultimately about improving their profits by investing in Bitcoin or any other asset. It does not matter to them whether it is ATOM, Binance Coin, Cardano, or Zen; they need profits; of course, they look into the use case and reliability of the blockchain.
The price of the Cosmos (ATOM) at the time of writing has been trending at $4.54.
Cosmos (ATOM) Cryptocurrency – CosmWasm
The first step to starting with multi-chain smart contracts is to read the CosmWasm Documentation. The positives about Cosmos are that COSMOS SDK and COSMOS ecosystem are integrated. Mature tools are facilitated. The architecture design is secure to avoid almost all the attack vectors on Ethereum. The IBC integration facilitates integration to Cosmos Hub to prepare for multi-chain contracts.
The ground-breaking inter blockchain communication protocol helps starters to run on multiple chains.
Cosmos (ATOM) Cryptocurrency
CosmWasm is written in Golang and facilitates the customization of models. To improve on developer adoption, Cosmos will expand across different programming languages. Thus, promoting the higher goal of enabling the internet of blockchains to provide for a range of implementations and capabilities using the inter-blockchain communication protocol (IBC).
A beginner’s guide to Cosmos provides a clarification, “Atom (ATOM) (not to be confused with abandoned project Atomic Coin (ATOM)) is the main cryptocurrency existing on top of the Cosmos platform which is designed to facilitate communication, scaling and interoperation between independent chains.”