The COSMOS project was launched in 2016, and the team behind the project have since been on a relentless development journey in a bid to create the world’s first ecosystem of connected blockchains.
Within the COSMOS ecosystem, there can be an unlimited number of connected blockchains, each of which can serve their own consensus mechanism and purpose. The first of these connected blockchains is the Cosmos Hub, while ATOM is the native cryptocurrency of the Cosmos Hub.
With ATOM, users can contribute to the security of the network, participate in governance, and also delegate it to any of the validators of Cosmos Hub to rewards from the proof-of-stake consensus system.
The total supply of ATOM is capped at 237,928,231 ATOMS and has a market capitalization well in excess of $750 million — making COSMOS one of the top 20 largest blockchains in the world.
With the growing popularity of COSMOS, interest in acquiring ATOM to benefit from staking rewards, or for voting on governance proposals is also likely to drastically grow the network matures.
With that in mind, we will take a look at some of the best full-featured desktop and web wallets for ATOM, allowing holders to safely store their ATOM, participate in voting and securely transact on the COSMOS blockchain.
Cosmostation is a validator within the Cosmos Hub and is a universal wallet project by Wanabit Blockchain labs — a South Korean based Blockchain development company.
In addition to Android and iOS wallets for ATOM, Cosmostation is also available as a decentralized web wallet. However, unlike the Android and iOS version of the wallet, the Cosmostation web wallet only works with the Ledger Nano S hardware wallet, which does come with the benefit of increased security — though at a premium.
To connect to the web wallet with the Ledger Nano S, users must first enable developer mode under Ledger Live settings. Then users must log into the Ledger Live manager and download the Cosmos app to be able to connect Ledger with Cosmostation.
Once accessing the Cosmostation wallet, users will be able to delegate their ATOMs and start earning staking rewards, all without compromising on security,
- Supports HD wallets with any number of sub wallets
- Third party blockchain explorer for COSMOS and ATOM through Mintscan.
- A private network between Validator and Sentry nodes ensures security
Lunie (Previously Voyager)
Lunie is the rebranded version of Voyager, which was the official name for the alpha version of the web wallet for Cosmos Hub. Lunie is a light wallet and it works by connecting to a light client daemon, the Cosmos SDK.
Lunie came to life when the Voyager development team split off from the core team to form a new company under the name of Lunie International Software Systems Inc.
Billed as the first feature complete COSMOS user interface, Lunie benefits from a sleek, easy to navigate user interface, and allows users to access the full range of COSMOS features. Within Lunie, ATOM holders can participate in staking and governance and can manage their ATOMs as they please.
It is important to keep in mind that Lunie only transmits encrypted transactions to the RPC Tendermint Core in a full node. No sensitive user wallet data is transmitted and everything is stored client side in the browser cache. Overall, these features make Lunie one of the best wallets for COSMOS.
- The code base of Lunie is entirely open source and available for a security review by anyone.
- Easy sign-in with Ledger hardware wallets or a pre-generated Cosmos addresses.
- Built-in Lunie explorer shows a wealth of network statistics.
One to Watch: Magnum Wallet
Magnum Wallet is a light client-side wallet launched in 2018 and developed by primarily Russian group of developers. Magnum wallet is renowned as one of the best multi-asset wallets available, and has gathered an impressive reputation thanks to the huge number of digital assets it supports.
The current version of Magnum wallet is a web app, but according to the team’s roadmap, a desktop version of the wallet will be released sometime in mid-2019. Despite being a web wallet, Magnum still retains excellent security by storing all sensitive user data in cache, while processing transactions through an encrypted SSL connection.
As it stands, Magnum wallet doesn’t yet support ATOM yet, it does feature support for the Ledger Nano S which can be used to store your ATOM. Once Magntum integrates COSMOS later this year, you will be able to use Magnum to access and manage your funds. Despite this, Magnum Wallet is still worth a look in the meanwhile, since it does support more than 40 other cryptocurrencies and 700+ ERC20 tokens at present.
Once integrated, ATOM holders will be able to stake their tokens through the Passive Income tab. Similarly, the team is also planning to integrate a validator voting mechanism so holders of ATOM may take part in Cosmos Hub governance.
- Proposed in-app asset exchange and dApp browser.
- Hardware support for devices like Trezor and Ledger
- Automatically receive available airdrops
Image credits: Cosmos Network