Cosmos (ATOM) vs. ION (ION) | Which Of These Coins Fits You Better?

Today, we will compare two coins built on the same blockchain (Cosmos). First is the native coin of the Cosmos platform (ATOM) and the second one is one of the projects built on Cosmos, ION. They have different use cases and way different levels of popularity and availability on exchanges. However, there are people on the Internet, who want to compare these two coins. Read this article to understand what these coins are and which one of them is a better project for your purposes.

1. What Is ATOM?
2. What Is ION?
3. ATOM vs. ION (table)
4. ATOM vs. ION (details)

What Is ATOM?

ATOM is a cryptocurrency serving as a fuel for the Cosmos Hubs platform. The latter is a decentralized ecosystem whose prime purpose is bridging different blockchains. As the platform consensus is based on Proof-of-Stake algorithm, ATOM is needed for staking and validation of transactions.

Apart from channeling cross-chain transactions, Cosmos is used for building decentralized apps, launching new tokens, in-game collectibles, and more. To much, Cosmos resembles the functionality of Ethereum and its countless "killers". Unlike Ethereum, Cosmos is designed to work cheaper and faster. 

The Cosmos whitepaper saw the light of day in 2016. As of July 2022, the ATOM token is among the industry leaders, occupying the 28th position by market cap which equals $3.1 billion. The current ATOM price is over $10. 

What Is ION?

ION is a primary coin in the blockchain ecosystem of the same name. The ION ecosystem utilizes the hybrid consensus mechanism combining Proof-of-Stake and Proof-of-Work algorithms. This move is aimed at maximizing security of the network. The ION coin is used for the network's tokenomics and as a part of the staking process. 

The ION network is mostly used for hosting games. ION allows devs to create in-game tokens. Through Jinx, gamers can earn (and lose) crypto while playing games. The ION team believes it should make gaming more engaging. 

The ION coin hit the market in 2016. At some point in 2018, the price was over $5, however, nowadays, ION coins are much cheaper. As of July 2022, the ION price is around $0.005 while the market cap is a bit over $70k. ION is quite far from the top coins, however, the ION ecosystem continues its development. 

ATOM vs. ION (table)

ATOM vs. ION (details)

The price and the market cap 

As for price and market cap, Cosmos (ATOM) goes much further than ION. Cosmos is one of the leaders on the crypto market while ION is not even in the top 1000 of coins. We can't compare these coins by these parameters.

Popular markets

Cosmos (ATOM) is way more accessible than ION. ATOM is a popular cryptocurrency available on many well-known exchanges while ION is traded on a couple of little-known platforms. 

Platform

ATOM is based on its own blockchain while ION is a part of Cosmos ecosystem. In some way, ION depends on the Cosmos success.

Consensus mechanism

Both coins are based on PoS. However, ION relies on a more complex system that combines PoS and PoW. It creates more opportunities for the platform users and allegedly increases the safety level. On the other hand, it can turn away some people because they would prefer to use a platform with a more familiar consensus algorithm.

Products

Cosmos provides products that can be used for trading, protecting coins, and other activity related to crypto markets. ION network is good for a broader number of use cases as ION Core is dealing with all kinds of activity associated with authentication and processing and protecting data.

Use cases

Cosmos seems to be a good choice for those who build decentralized apps or look for the cross-chain solutions. ION better fits those who work in the gaming industry or deal with data and online identification. Both brands are used in their respective fields.