Cosmos

Halal Rating :
Comfortable
Last Price $6.39 Last updated:
Rank 49
1D Change -9.09 %
Market Cap $2.5b
Circulating supply 390,934,204
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • Platform
  • Cosmos Ecosystem
  • Content Creation
  • Interoperability
  • Polychain Capital Portfolio
  • DragonFly Capital Portfolio
  • Hashkey Capital Portfolio
  • 1Confirmation Portfolio
  • Paradigm Portfolio
  • Exnetwork Capital Portfolio
  • Injective Ecosystem
  • SEC Security Token

Project Overview

Cosmos (ATOM) is a cryptocurrency that powers an ecosystem of blockchains designed to scale and interoperate with each other. The project aims to create an 'Internet of Blockchains' through its Inter-Blockchain Communication (IBC) protocol, allowing different blockchain networks to communicate and transfer assets seamlessly.

Intended Utility

The primary intended utilities of ATOM include: governance of the Cosmos Hub, staking to secure the network, and facilitating interoperability between different blockchains. ATOM holders can participate in network governance, stake their tokens to earn rewards for securing the network, and use ATOM as the native currency for paying transaction fees.

Actual Utility and Adoption

The Cosmos ecosystem has demonstrated significant actual utility with over 50 major blockchain projects built using Cosmos SDK, including Binance Chain, Crypto.org Chain, and Terra. The IBC protocol is actively used, processing millions of transactions. As of 2024, there are hundreds of active validators securing the network through staking.

Token Distribution and Governance

The initial token distribution included allocations to the Interchain Foundation, early contributors, and public sale participants. The project maintains transparency through its governance system, where major decisions are made through community voting. Development activity remains strong with regular updates and improvements to the network.

Revenue Model and Operations

The network's revenue model is based on transaction fees and staking rewards, which are distributed to validators and delegators. This model does not involve interest-bearing mechanisms that would conflict with Islamic principles. The primary focus remains on providing blockchain infrastructure and interoperability solutions.

Crypto Impact

To assign a comfort level investing in Cosmos from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Cosmos.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

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