Cosmos (ATOM) – Expanding the Blockchain World
Cosmos is another Ethereum competitor, but with a unique functionality. It aims to achieve interoperability – the ability to connect different block chains together. “Cosmos has a rapidly growing ecosystem of interconnected blockchains and aspires to be the internet of blockchains,” says Sotiriou.
The large and scaling Cosmos network, which now has approximately $179 billion in digital assets under management, runs on the energy-efficient Proof of Stake (PoS) protocol.
The blockchain is powered by the native cryptocurrency ATOM, which is the 34th largest crypto-asset, up over 400% year-to-date, from $5.90 to $30.56.
Sotiriou asserts that “Cosmos is a safer bet as it is one of the most adopted smart contract platforms, second only to Ethereum,” adding that there are currently 250 blockchains, applications, and services in the cosmic ecosystem.
ATOM’s growth has been largely organic in contrast to the growth of other cryptocurrencies with large marketing budgets. “The growth in the price of the asset is mainly due to technological advances and not hype in the retail space,” says Sotiriou.
With DeFi storming the blockchain world, the Cosmos network is expected to continue to grow in 2022, as well as the price and popularity of its ATOM token.
Solana – a new kid on the blockchain
Solana was the best performer of 2021, climbing the crypto ladder to become the fifth most valuable cryptocurrency in the world, with a market capitalization of $65 billion, as of December 3. It generated an impressive year-to-date return of over 13,000%, going from $1.61 to $214 – the largest gain of any cryptocurrency so far this year. In the same period, Ethereum is up 543%.
Solana was developed to help power the use cases of decentralized finance, decentralized applications, and smart contracts. It works on both Proof of Ownership and Proof of History forms that enable fast and secure transaction processing. SOL, Solana’s original code, powers the platform.