Binance to Add Support for Cosmos (ATOM) for 'Free' as It's 'Good Tech'

click here to see original post

Malta-based digital asset exchange Binance has recently announced that it will list a new cryptocurrency known as Cosmos (ATOM).

Binance, the world’s largest crypto exchange in terms of trading volume, is planning to add support for Cosmos’ native crypto token, ATOM, as the company’s CEO, Changpeng Zhao (“CZ”), believes the project is based on “good” or sound technology.

Cosmos’ ATOM To Be Listed On Binance

According to the exchange operator’s announcement, Binance intends to list the ATOM token tomorrow(April 29, 2019) “at 4:00 AM (UTC).” Users will be able to trade ATOM tokens in the following trading pairs: ATOM/BNB, ATOM/BTC, and ATOM/USDT, Binance’s management revealed.

Cosmos, a distributed ledger technology (DLT)-enabled platform which aims to enable communication between separate and independent blockchain networks, was launched recently. Since Cosmos’ mainnet went live, there has already been over $300 million staked on the proof-of-stake (PoS)-powered network.

In addition to Binance adding support for Cosmos’ ATOM token, US-based crypto exchange Kraken, crpyot exchange Poloniex, and Malta-based exchange OKEx have also enabled trading with ATOM.

Cosmos’ Community Approves First Official “Transfer Of Atoms”

As CryptoGlobe reported on April 23, 2019, the developers of Cosmos reached a key milestone that involves the beginning of “Phase II,” which is essentially a roadmap for the blockchain interoperability platform’s next phase of development. This, after Cosmos’ community members approved the platform’s first official “transfer of ATOMS.”

According to available data, Cosmos currently has 100 validators securing its network, out of a total of 111 eligible (or qualified) validators. Other data related to Cosmos shows that its blockchain network has relatively fast block times of around 6-7 seconds.

Cosmos Governance Has Seen Very “High Voting Participation”

Cosmos’ governance, which is based on the PoS model, has reportedly experienced “impressively high voting participation rates in the proposals leading up to activating Phase II, with participation exceeding the minimum 40% quorum needed to pass each proposal.”

Cosmos, which is also referred to as the “Internet of Blockchains,” features a “built-in on-chain governance system” that lets “delegators and validators” cast their vote on “proposals to signal future changes to the [Cosmos] Hub.” As noted by Cosmos’ development team:

Once specific changes are approved by governance, Cosmos Hub validators can upgrade their software accordingly in order to enable new features.

Share !