ImToken Announces Support for COSMOS Staking and Token Transfers

According to recent reports, the latest ImToken version 2.4.0 now supports COSMOS by introducing the newest development of one-click stake & earn. The existing versions supported the platforms of Bitcoin, Ethereum and EOS while adding the newest and easiest interface of ATOM, the Cosmos IBC tokens.

ImToken, in their official announcement of this addition, declares the new actions that will be taking place on the platform following the inclusion of Cosmos IBC token, ATOM. Not only will the user be able to send and receive ATOM tokens, but they can also delegate ATOMs while earning interest for the same. Along with that, ImToken gives the opportunity to redelegate the tokens to other validators as well as allows the withdrawal of delegated ATOMs. ImToken reveals the update in a Tweet,

In the process, the platform will make sure that the user gets live rewards and benefits straight to your wallet according to your functioning of the token. These were the latest opportunities with COSMOS inclusion on ImToken. However, according to the announcement, since this is just the start of such an event, they are planning on taking things to the next level soon. As a result, they will be soon adding characteristics such as trading ATOM on TokenIon, voting for governance proposals as well as inputting groups of multiple validators to take things further.

All these developments on COSMOS token on ImToken are taken into consideration for making it the one-stop wallet when it comes to easy and secure COSMOS experience on your mobile screens. This is understandable since COSMOS, a decentralised network of independent parallel blockchain is also on its way of becoming the ‘Internet of Blockchains’ with its Tendermint consensus, powered by BFT algorithms.

Technically, every blockchain of it can run several consensus algorithms and various groups of validators which provides each chain with its individualistic security assumptions. This is extremely important and helpful since the chain running a gaming application wouldn’t have the same security measures that are needed for a financial application transferring and accounting millions of dollars.

According to the ImToken statement, their new project aims at achieving an easy user interface with COSMOS tokens. Because of this, the mobile application is built in a way that is secure, easy and understandable from the beginning. All the steps for managing the cosmos tokens can be directly implied from your ImToken wallet which will, therefore, allow you to transfer, delegate, re-delegate, withdraw and soon, vote with your ATOM tokens.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button