Exchanges Adding Support for Atom After Cosmos Mainnet Goes Live
Much-anticipated blockchain project Cosmos, designed to facilitate interoperability between different blockchains, has launched their long-awaited mainnet yesterday, March 13th. Now, the platform’s native coin Atom is being added to exchanges.
At Bitforex, ATOM/BTC, ATOM/ETH, ATOM/USDT buying order is available since yesterday while selling order should be available starting today. The exchange added that Atom deposit and withdrawal will be available after the mainnet is stable. Another exchange that has added Atom support is Korean Coinone, while the CEGX exhange should also list Atom today.
ATOM/BTC on Bitforex:
“Before the Cosmos Network, blockchains were siloed and unable to communicate with each other. They were hard to build and could only handle a small number of transactions per second. Cosmos solves some of the hardest blockchain problems of scalability, usability and interoperability,” according to the project’s website.
“An impressive new blockchain was born today. Congratulations to a successful launch Cosmos,” tweeted Erik Voorhees, CEO of cryptocurrency exchange ShapeShift. Will Martino, founder of distributed ledger technology provider Kadena, wrote, “Launching mainnet is an incredible feat. Every crypto project that ships pushes the entire space forward, a rising tide lifts all boats.”
Changpeng Zhao, CEO of major cryptocurrency exchange Binance, joined in on the congratulations on Twitter, adding that Binance DEX, a decentralized-like exchange, developed by Binance, is partially based on Cosmos technology.
The mainnet, titled Cosmos Hub, was officially launched with the mining of its first block at at UTC 11:00 PM on March 13th as the first in a series of proof-of-stake (PoS) blockchains that will be created in this ecosystem. Technically, Cosmos will not be one blockchain but rather many parallel chains. According to the project’s website: “Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus.”
BFT stands for Byzantine Fault Tolerance, which means that two nodes can communicate safely across a network, knowing that they are displaying the same data. Tendermint is a consensus algorithm that is first and foremost Byzantine Fault Tolerant.