Try Quests to earn cryptoAnalysis of ATOM transfers
In this dashboard, ATOM transfers from the beginning of 2023 until now are analyzed.
What is Cosmos❓
Cosmos is a set of parallel and independent blockchains that can communicate with each other. Cosmos was launched with the aim of increasing scalability and the ability to establish communication between different networks.
To understand the origin of the development of this blockchain, it is better to start with the motto of this blockchain: "The Internet of Blockchains". This network was launched from the beginning with the aim of solving the problem of other networks. Considering that at the time of the initial ideation of this network, the vertical solutions to increase scalability (such as the Lightning network and roll-ups) were not very successful in solving this problem. So, Cosmos stepped into the field with a new architecture. In the considered architecture of Cosmos, there are independent and parallel networks. Each of these networks is called a zone. In Cosmos, each zone is able to carry out its essential functions on its own. This includes authenticating accounts and transactions, creating and distributing new tokens and executing changes to its own blockchain. On the other hand, there are a number of connection points or hubs that can enable communication between these networks through a communication protocol called IBC. Also, blockchain technical development is easily possible by the innovative framework of this collection called Cosmos-SDK.
How does Cosmos work❓
The Cosmos ecosystem has three main components:
1️⃣ Tendermint Core or the engine of this blockchain which is responsible for consensus.
2️⃣ The Inter Blockchain Communication (IBC) protocol that enables the communication between the networks of this ecosystem.
3️⃣ The Cosmos-SDK framework, with its modular design and full coordination with the Byzantine-Fault-Tolerant (BFT) consensus algorithm, makes it possible to deploy and launch blockchains easily.
First of all, I want to emphasize the difference between two words that are commonly used interchangeably, but are two separate concepts. Cosmos ecosystem is a set of blockchains, which is Cosmos Hub, the first and so far the most important network of this set, the native cryptocurrency of this network is called ATOM.
🧠 Purposes of Dashboard
In this dashboard, ATOM transfers on Cosmos hub from the beginning of 2023 until now are analyzed. For a more detailed analysis, ATOM transfers in Osmosis, BSC and Polygon chains are also considered. This dashboard consists of 3 parts;
In the first part, the volume of ATOM transfers is analyzed. In this section, any sudden change in the volume of transfers is detected. On the other hand, the volume of ATOM transfers in other chains is also compared. Similar to the first part, the number of ATOM transfers is considered in the second part. In the third part, ATOM sender and receiver addresses are analyzed, the addresses are identified from various aspects and their performance is evaluated in 2023.
📚 Methodology
In this dashboard, data is extracted from the flipsidecrypto database. Information about the volume and number of ATOM transfers on different chains (Cosmos: 'uatom', Osmosis: 'ibc/27394FB092D2ECCD56123C74F36E4C1F926001CEADA9CA97EA622B25F41E5EB2', BSC: '0x0eb3a705fc54725037cc9e008bdede697f62f335', Polygon: '0xac51C4c48Dc3116487eD4BC16542e27B5694Da1b') is extracted from the following 4 tables:
cosmos.core.fact_transfers, bsc.core.fact_token_transfers, polygon.core.fact_token_transfers, osmosis.core.fact_transfers
osmosis.core.dim_prices -> This table has also been used to calculate the correlation coefficient between price and volume and the number of ATOM transfers.
All data is from 2023 and only true transactions (TX_SUCCEEDED='TRUE') are considered.