Cosmos is striving to establish an interconnected network of Blockchains known as the “Internet of Blockchains,” enabling data and token sharing across independent Blockchains (regions) without the need for a central authority. The Cosmos network utilizes open-source tools like the Tendermint BFT algorithm and the Cosmos Software Development Kit (SDK), with the Cosmos Hub serving as a means of communication and interoperability among all regions. Supported by its native cryptocurrency ATOM, Cosmos offers a flexible and interoperable ecosystem. This article aims to address two common queries: what is Cosmos (ATOM) and how to purchase Cosmos (ATOM) using TRY.
Cosmos (ATOM) Explained
Often dubbed the “Internet of Blockchains,” Cosmos seeks to create a network of interconnected Blockchains. Its primary objective is to facilitate transactions between different Blockchains using open-source tools, emphasizing customizability and interoperability as distinguishing features. Rather than prioritizing individual networks, Cosmos advocates for an ecosystem where various networks can exchange data and tokens without a central authority overseeing the process.
Each new independent Blockchain within Cosmos, referred to as a “region,” connects to the Cosmos Hub, which maintains records of each region’s state. This central hub operates on a proof-of-stake Blockchain and is supported by the native ATOM cryptocurrency. The Cosmos network is structured into three main layers: the application layer, the network layer, and the consensus layer. The application layer processes transactions and updates the network’s state, the network layer facilitates communication between transactions and Blockchains, while the consensus layer helps nodes agree on the network’s current state. These layers are interconnected through various open-source tools, with the Tendermint BFT algorithm playing a crucial role.
Buying Cosmos (ATOM) with TRY
Binance TR is a suitable cryptocurrency exchange for investors in Turkey looking to purchase Cosmos (ATOM). Binance TR offers a wide range of cryptocurrencies, including ATOM, and allows for quick account creation. To buy Cosmos (ATOM) with TRY on Binance TR, follow these steps:
1. Open an Account on Binance TR
Creating an account on Binance TR is a straightforward process. Visit trbinance.com and proceed with the “Create Account” step. You will be required to provide basic information like your email address, phone number, name, date of birth, nationality, and T.C. identity number.
2. Verify Your Account on Binance TR
Identity verification on Binance TR is a necessary security procedure that must be completed before engaging in cryptocurrency trading. You can perform the verification process either through your phone or the official Binance TR website.
3. Deposit TL on Binance TR
You can deposit TL into your Binance TR account from various banks. Simply select your preferred bank, make the transfer using the provided information, and the funds will reflect in your Binance TR account wallet.
4. Buy ATOM Coin with TL on Binance TR
After completing the deposit process, you can proceed to buy ATOM coins with TL by following the steps outlined on the Binance TR website.
Binance TR Overview
Binance TR, launched in 2020, is the official platform of Binance, the world’s largest cryptocurrency exchange, catering specifically to investors in Turkey. Users can access fiat-to-crypto and crypto-to-crypto trading services, leveraging Binance’s technology and security measures. With Binance TR, users in Turkey can deposit and withdraw Turkish lira (TRY) through direct bank channels and trade various cryptocurrencies with TRY trading pairs.
In conclusion, while cryptocurrencies offer potential investment opportunities, they also come with high volatility and risk. Investors should conduct thorough research before engaging in cryptocurrency trading.
