Cosmos (ATOM) is a blockchain project that addresses critical challenges in the cryptocurrency space by providing an interconnected ecosystem of blockchains. It aims to overcome issues like scalability, interoperability, and complexity. Cosmos offers a modular framework for building decentralized applications (dApps) and facilitates communication between different blockchains, making it easier for developers to create and connect blockchain networks. ATOM tokens play a central role in securing the Cosmos Hub, the project's flagship blockchain, and participate in its governance.
How Cosmos (ATOM) Works?
Cosmos (ATOM) works by employing a three-layered architecture consisting of the application layer, networking layer, and consensus layer. The application layer processes transactions and updates the network's state, while the networking layer enables communication between different blockchains. The consensus layer ensures that nodes agree on the current system state. The network employs a proof-of-stake (PoS) consensus algorithm, where validators with more staked ATOM tokens have a higher chance of verifying transactions and earning rewards. This design prioritizes security, scalability, and interoperability, making Cosmos a robust blockchain ecosystem.
Staking Cosmos (ATOM)
If you have an interest in generating passive income and increasing your wealth through cryptocurrency, particularly Cosmos (ATOM), Bitrue offers an exceptional staking, accompanied by distinctive features and advantages. Below, we'll delve into the ways you can optimize your staking experience on Bitrue to maximize your gains:
Power Piggy is the best way for Cosmos (ATOM) holders looking for straightforward and flexible staking solutions. Currently, Power Piggy (Flexible Staking) offers an Annual Percentage Yield (APY) of up to 20%. This allows you to accrue daily interest on your staked Cosmos (ATOM), which is then deposited into your Bitrue account. For Power Piggy, There are no lockup periods, making you completely autonomous over your Cosmos (ATOM) holdings, enabling withdrawals or trading on the exchange at any time.
To start staking Cosmos (ATOM) with Power Piggy, follow these steps:
Explore the available coins and their respective APYs.
Choose Cosmos (ATOM) and select a time period and APY that align with your financial goals and risk appetite.
Click "Stake now" for Cosmos (ATOM) and provide your investment details.
Confirm your Cosmos (ATOM) stake, and you're all set to earn daily interest.
Enjoy daily interest payments credited to your Bitrue account around 16:00 UTC.
Staking for Other Tokens and Long-Term Investments:
If you're thinking about investing your cryptocurrency investments for a longer time, the traditional Staking option might be a better fit. It offers higher rewards in terms of Annual Percentage Yield (APY). However, your tokens will be locked up for a set period. It’s worth noting that you can cancel the staking early, but you won't earn any interest during the locked-up period.
Browse the available coins and their respective APYs for different lockup periods.
Choose the cryptocurrency and lockup period that align with your investment preferences.
Click "Stake now" for your chosen coin and provide the necessary investment details.
Confirm your investment, and your coins will be staked for the specified lockup period.
Watch your earnings grow with the higher APY rewards while your coins are staked.
In a nutshell, Bitrue's Power Piggy and Staking options give you great chances to make money passively with Cosmos (ATOM) and other cryptocurrencies. Just pick the one that matches your financial goals and how much risk you're comfortable with, and you're on your way to a potentially better financial future. Happy staking!