Two coins, ATOM vs LINK, linked to the platforms Cosmos vs Chainlink, are contrasted in this article. While Chainlink tries to make off-chain data accessible for blockchain-based companies, Cosmos offers cross-chain solutions. This article post is to determine the key traits of various coins and platforms and which one best satisfies your needs.
Overview
What is Cosmos (ATOM)?
A distributed network created by and for developers is called Cosmos. The system supports the most recent Defi features and is scalable.
Cosmos aims to become the “blockchain of blockchains,” according to its creators.The protocol offers several enhancements to Dapp’s development, including a fully customizable stack.
What is Chainlink (LINK)?
Chainlink is a decentralized oracle network that is positioned to be crucial in the use of blockchain technologies in the real world. This network’s goal is to offer feedback on various outside data sources.
What Do They Have in Common?
The prominent feature of all 2 platforms is that they are cross-chain compatible and/or independent of any particular blockchain. For their smart contracts to communicate with one anothe.
As a result of their compatibility with the EVM (Ethereum Virtual Machine) and their ability to interface with other Cosmos-built blockchains, layer-2 tokens can be created on these blockchains using Solidity code.
Since it is blockchain-agnostic, Chainlink nodes can run and communicate data to all widely used blockchains.
Read more: Layer 1 Vs Layer 2 Vs Layer 3: Blockchain Scaling Solutions Need To Know 2023
Cosmos Vs Chainlink: What Are The Differences Between 2 Coins?
It’s interesting that investors today seem to have zeroed in on some parallels between Chainlink and Cosmos. Both cryptocurrency platforms are essential to the interoperability of the blockchain sector, which many investors believe is where the industry is headed.
Structure
Cosmos
- Tendermint is a consensus system that enables programmers to build a quick, scalable, and secure proof-of-stake blockchain.
- The Cosmos SDK – Enables programmers to create applications on top of blockchains based on Tendermint.
- A mechanism that enables various blockchains to connect and interact with one another is called the Inter-Blockchain Communication protocol (IBC).
Chainlink
- Oracle Smart Contract: The core of the Chainlink architecture is the Oracle contract. This is a fundamental feature of how Kaleido blockchain networks use Chainlink determines which Chainlink nodes are permitted to respond to job requests
- Client Smart Contract: The primary consumer of the Chainlink Oracle function is naturally an intelligent contract. As described above, a client’s smart contract is not allowed to interact with the outside world.
- Chainlink Node: The workers who complete the desired jobs are chainlink nodes. Any quantity of Chainlink nodes can be connected to the blockchain network. Since peer-to-peer networking does not exist among chainlink nodes, they operate independently of one another.
Purpose of the cryptocurrencies
- ATOM cryptocurrency can be held and spent, can be traded with other users and can be staked for rewards in the system.
- LINK is used to pay for Node Operators in ChainLink’s network. Node Operators are responsible for retrieving and formatting data from off-chain data into readable data on the Blockchain.
Market capitalization
| Cosmos | Chainlink | |
| Market cap (USD) | 3,029,930,535 | 3,303,869,636 |
| Rank | 24 | 23 |
| Circulating Supply | 286,370,297.00 ATOM | 491,599,970.45 LINK |
| Total Supply | N/A | 1,000,000,000 LINK |
Price
| Cosmos | Chainlink | |
| Price (USD) | $11.12 | $6.56 |
| 24h volume | $596,915,876 | $449,553,630 |
| Volume / Market Cap | 0.1872 | 0.1393 |
Developers
Cosmos
The collaboration of various teams led to the development of Cosmos. The Swiss Interchain Foundation (ICF), a nonprofit that finances and supports open-source blockchain initiatives, and the Tendermint team provided most of the resources and funding for its development.
In addition to developing Tendermint, the consensus mechanism that would drive Cosmos, software developers Jae Kwon and Ethan Buchman also co-founded the Cosmos network in 2014. Kwon and Buchman wrote the Cosmos white paper in 2016, and the software was later made available in 2019.
Chainlink
- The creator and founder of the ChainLink project is Sergey Nazarov. He is a very experienced person in building peer-to-peer networks.
- Steve Ellis (CTO): Currently holding the position of CTO of the ChainLink project. Previously Steve Ellis worked at Pivotal Labs as a software engineer and team leader
- Dimitri Roche (software engineer): He also spent a long time at Pivotal Labs and McKinsey as a software engineer. And now, he is both ChainLink’s software engineer and the leader of Infogroup’s engineering team.
Staking
Cosmos
When stakers lock up their ATOM for staking, ATOM is now paying out 9.7% in APY incentives. A Proof-of-Stake consensus algorithm that relies on validators rather than miners to verify transactions powers the Cosmos Hub.
Participants in the Cosmos ecosystem can stake their ATOM to produce yield, take part in governance, and protect the network.
Chainlink
LINK staking’s primary goal is to enable ecosystem users, such as node operators and community members, to strengthen the security assurances and user assurances of oracle services by supporting them with staked LINK tokens.
By staking LINK, the ability of nodes to get jobs and earn fees on the Chainlink network will be enhanced while the entire ecosystem will benefit from “enhancing crypto-economic security and ensuring tell users. The current APY rate for staking LINK is 3.15%.
Read more: APR Vs APY Crypto 2023: What Are The Differences And How To Calculate For Crypto Beginners
Listing
- Cosmos: ATOM is available on some exchanges such as: HitBTC, Bitcoin. com Exchange, WOO Network, Binance, Coinbase Exchange, Gate. io, Kraken, OKEx, Huobi Global, Kucoin, … In which, Binance is the exchange with the largest trading volume, accounting for 16.59%.
- Chainlink: There are some exchanges, including: Binance ,FTX, Kucoin, Remitano, Huobi. Binance exchange has the largest trading volume of LINK coins.
Read more:
- KuCoin Vs Binance: Which Crypto Exchange Is Better For You in 2023 Full Comparision
- Coinbase vs Binance: Which Crypto Exchange is Best?
- FTX Vs Binance: Which Crypto Exchange Is Better For You in 2023
Backing
- Cosmos: Investors of ATOM Including: SNX Holdings, Dragonfly Capital Partners, KR1, Cyber Fund, Interchain, Tendermint, Tendermint Ventures, Chorus One, Figment, P2P validator, Citadel, ..
- Chainlink: is embarking on cooperation with many major partners. According to statistics, there are 64 partners in many different industries. Among them are Google, SWIFT, Web3, Oracle StartUp, IC3 partner, Polkadot, etc.
Future Projection
Cosmos
The NFT community’s introduction into the Cosmos begins with stargazing. Additionally, The Secret Network has a role to play in the cosmos for 2023. When their mainnet launches in November, Secret NFTs will be supported, and the Stashh app’s inherent privacy restrictions for ownership will be available.
Chainlink
Chainlink’s team is working on a new project, Chainlink Virtual Machine (CLVM). It will bring smart contracts to CLK. The aim of the CLVM is to provide a decentralized way to execute smart contracts. The CLVM will be implemented on top of the Ethereum Virtual Machine (EVM).
At a Glance
| Cryptocurrency Network | Chainlink | Cosmos |
| Native Currency | LINK | ATOM |
| Market Cap | Approximately $3.3 billion | $ 3.04B |
| All-Time High | $52.88 on May 10, 2021, | $44.70 76.28% on Sep 20, 2021, |
| All-Time Low | $0.1482 on Nov 29, 2017, | $1.13 837.60% on Mar 13, 2020 (2 years ago) |
| Use cases | Gaming, insurance, enterprise, DeFi, supply chains, and social impact | Smart contracts, interchain connection, and dapps, DeFi |
| Consensus mechanism | PoS | PoS |
| Platform | Ethereum | Cosmos Hub |
| Protocol | Public blockchain | Private blockchain |
Read more: Comparison of Two Blockchain Consensus Algorithms: PoW Vs PoS: Which Is Better For You 2023
ATOM vs LINK – Which Is a Better Investment?
As additional blockchains are developed on the Cosmos network and more TVL gets locked in the Chainlink node network, the prices of Cosmos and Chainlink are projected to rise.
With $75 billion in assets protected by the Chainlink network as of November 2021, Chainlink enjoyed a record-breaking year.
The expansion of DeFi and the decision by numerous companies to use Chainlink oracles for their decentralized initiatives are what have increased the value of the Chainlink network.
Due to its SDK (software development kit), Cosmos has a technological advantage over Chainlink in creating layer-1 blockchains.
Contrary to ERC-20 tokens, layer-1 blockchain creation is more difficult, however Cosmos developers managed to make it less difficult. Some of the biggest blockchains in the world, with market caps larger than those of ATOM, have adopted the Cosmos SDK.
Both ATOM and LINK are good investment options. LINK has a lower price point and is more accessible to new investors. ATOM has a higher price point but offers a higher potential return on investment.
Read more: TOP 10 Best ERC20 Coins To Trade & HODL In 2023: A Full Guidance Of Potential Crypto For Traders
Where to buy ATOM and LINK?
Do you want to purchase Cosmos? Although there are several platforms on the market that provide exposure to this asset, we’ve included the top ones below:
| Cosmos | Chainlink | |
| Platforms | eToro,Crypto.com, Binance, and Coinbase, etc. | eToro, Binance, Coinbase, FTX, and more. |
Read more: Best Crypto Exchanges For Trading In 2023: Centralized Exchanges
FAQs
Which one should I choose?
If you want a token that is more liquid and has a lot of utility, then LINK is a great choice. If you want a token that is more focused on being a store of value, then ATOM is a great choice.
Which one is the best coin?
If you’re asking which one is better , it depends on what you’re looking for. Both have their own benefits and drawbacks. ATOM is a bit more expensive, but it’s also faster and more scalable. LINK is cheaper and more accessible, but it’s not as fast or scalable.
Is Cosmos or Chainlink more popular?
With so many various blockchains that can be connected by the Chainlink decentralized oracle, Chainlink has a wide range of potential uses. Chainlink may make it easier to integrate blockchain technology into various business processes and industries.
Why are they so popular?
Because they are built on top of blockchain technology, which provides a secure and transparent way to track and transfer ownership of assets.
Where can I learn more about them?
There is a great article that covers the differences between cosmos and chainlink on the website covemarkets.com.
Conclusion
Having gained some important knowledge about what makes the Cosmos (ATOM) vs. Chainlink (LINK) discussion so compelling, you are now prepared to take your trading to a new level.
These two initiatives play crucial roles in the blockchain industry. As a result, you can consider including both of them in your long-term portfolio. Visit our investing in cosmos and investing in chainlink guides for more information.
Disclaimer: The information provided in this article is not investment advice from Cove Markets. Cryptocurrency investment activities are yet to be recognized and protected by the laws in some countries. Cryptocurrencies always contain financial risks.
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