Last month, Binance Trust Wallets announced that it would be listing the Proof-of-Stake cryptocurrency Cosmos (ATOM) on its platform.
On May 9th, 2019, Binance’s Trust Wallets announced its support for Cosmos on Twitter. According to the tweet, users can now transfer or receive ATOMS by clicking on their mobile wallets.
More info on Cosmos (ATOM)
Cosmos is a decentralized network that offers a secure and scalable ecosystem for a number of blockchains.
The platform acts as an aid for various blockchains to connect and operate with each other. The concept and ecosystem offer a new approach to the crypto economy. The native token of the decentralized platform is ATOM.
Based on reports, ATOM is the native staking token used by “Hubs”. The genesis was called Cosmos Hub, it was the first public proof-of-stake (PoS) blockchain. It was based on a Byzantine fault tolerant (BFT) and consensus mechanism (Tendermint Core).
Intricacies of the censorship
The company states that its aim is to simplify the process of multi-asset wallets. The platform supports various cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRON), Ripple (XRP), and other ERC 20 based tokens.
The company believes that the addition of the Cosmos wallet is a very crucial step in order to achieve its objective.
The censorship was birthed as a result of the lack of complete control over decentralized applications that were supported by Trust Wallet. It is also a way of making Binance’s Trust Wallet release all the decentralized apps that it will permit the users to access the platform.
Founder of Trust Wallet, Radchenko believes that the acceptance of the Trust wallet on the App store is possible. But, this will only be possible when the company shares the list of decentralized applications.