Cosmos is a network of independent blockchains designed to scale and interoperate with each other. Its vision is to create an "Internet of Blockchains" where different crypto projects can connect and share data without relying on centralized intermediaries. This aims to overcome the fragmentation seen in the current blockchain landscape.
The network operates via the Cosmos Hub, a central blockchain that connects other "Zone" blockchains. The native token, ATOM, is primarily used to secure the network through staking and to participate in governance. Blockchains in Cosmos communicate using the Inter-Blockchain Communication (IBC) protocol.
Most people buy Cosmos on a major exchange. Binance has the lowest fees and the widest selection — here's the quick version:
ATOM is used to secure the Cosmos Hub network by staking, and its holders can vote on governance proposals to guide the ecosystem's development.
They use the Inter-Blockchain Communication (IBC) protocol, which allows for the secure and direct transfer of assets and data between independent blockchains.
Cosmos is an ecosystem of many sovereign blockchains connected together, whereas Ethereum is a single blockchain where most applications run directly on its main network.