As the demand for Bitcoin increases in India, especially in urban tech hubs, smart contract platforms like Ethereum and others are also gaining momentum.
Cosmos, funded by the Switzerland-based Interchain Foundation, is particularly popular with students like Aditya Nalini at the Vellore Institute of Technology in South India. HeÃ ¢ Â ?? Â ?? s one of four Ã ¢ Â ?? Â ?? AmbassadorsÃ ¢ Â ?? Â ?? trained by the community organization Cosmos India, founded in November 2019. Cosmos India’s community grew from a handful in 2019 to more than 1,000 participants in less than nine months, local organizers say despite the pandemic.
Nalini now holds the bulk of his modest fortune in cryptocurrency, he said via email after discovering the collecting game CryptoKitties in 2017. Although Bitcoin is the most popular cryptocurrency, Nalini says he has never owned Bitcoin and says there are many students like him
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A bull market is now raging on the Indian crypto exchanges. The demand for altcoins such as ATOMs has also increased on the global stock exchanges. None of this is to say that Cosmos is the leading cryptocurrency project of 2020. However, as a much younger project than Ethereum or Bitcoin, it is rapidly gaining brand awareness
Ã ¢ Â ?? Â ?? OKEx Ã ¢ Â ?? Â posted record numbers as the alternative season peaked in August.Ã ¢ Â ?? Â ?? OKEx press manager Vivien Choi said, speaking to markets that include, but are not limited to, India. Ã ¢ Â ?? Â ?? OKEx saw an increase in demand for ATOM worldwide, particularly last month. Ã ¢ Â ?? Â ??
In contrast to Bitcoin and Ethereum, which both already have strong brand identities, Cosmos is still relatively new to Indian crypto fans. This makes the project feel like it is the next big thing. Nalini described the cosmos ecosystem as the Ã ¢ Â ?? Â ?? fatherÃ ¢ Â ?? Â ?? Network, because the Cosmos interoperability project enables all the different altcoin projects to talk to each other and get help from each other instead of fighting for supremacy.
Instead of holding Bitcoin (BTC), Nalini also holds Ether (ETH) and Matic tokens in addition to ATOM.
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ÃÂ ?? Â ?? My portfolio currently consists of 60% Atoms, 30% Matic and 10% Ether, with ETH interacting and playing more with Dapps than from an investment point of view, Ã ¢ Â ?? Â ?? said Nalini. Â € œAs a student, it was extremely difficult to put together a portfolio. Ã ¢ Â ?? Â¦ I built mine by winning contests, competing in bounties, and winning freebies. Ã ¢ Â ?? Â ??
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Local hackathons and meetups were the engine behind India’s crypto boom. According to Cosmos India co-founder Abhitej Singh ¢ Â ?? Â ?? who is also the head of communications at the organization’s sponsoring startup, Persistence One ¢ Â ?? Â ?? In 2020, around 1,000 Indians have participated in Cosmos programs so far. This work is funded in large part by a grant from the Interchain Foundation, which manages nearly $ 104 million generated since the sale of ATOMs tokens in 2017.
Ã ¢ Â ?? Â ?? One of the main goals of Persistence One is interoperability, so there is a lot of coordination with CosmosÃ ¢ Â ?? Â ?? Vision, Ã ¢ Â ??? Â ??? said Singh in an email.
In addition to meetups and ambassador trainings, Cosmos India also offers outreach programs at the Nitte Meenakshi Institute of Technology (NMIT) in Bangalore and at the International Institute of Information Technology in Hyderabad.
For example, after working with Cosmos India, NMIT professor Sanjay HA said that he will add a Cosmos case study to his blockchain engineering course in the next semester
Ã ¢ Â ?? Â ?? What I liked about Cosmos is the interoperability, Ã ¢ Â ?? Â ?? he said. ÃÂ ?? Â ?? Usually the sixth semester starts in January. However, due to the pandemic, it may start March 2021 for this academic year.
University courses aside, meetups seem to attract a few dozen attendees at a time, even up to 75 people at an event co-hosted with startup Inblox Network during Bangalore Blockchain Week in February 2020
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¢ Â ?? Â ?? Students play a significant role in developing the narrative for any new technology in India, Ã ¢ Â ?? Â ?? Singh added, speaking with ongoing academic collaborations. ÃÂ ?? Â ?? We want to get in touch with around 50,000 students next year through webinars, hackathons, tutorials and student chapters. Our goal is to have Cosmos in the curriculum as an elective at at least five universities.
Bitcoin is still undeniably king in the Indian crypto market. But targeted student programs can determine which rupee-altcoin pairs become mainstays on locally accessible exchange platforms
Ã ¢ Â ?? Â ?? Our initial volume was huge and the ATOM-INR volume was one of the highest ATOM pairs in the world for a few days, Ã ¢ Â ?? Â ?? said Vikram Rangala, CMO at Indian exchange ZebPay. Ã ¢ Â ?? Â ?? The interest of this group tends to switch between tokens depending on which token is currently active. But Cosmos also has a lot of support here from long-term investors and developers
However, Rangala added that this may just be a broader bull market effect
Ã ¢ Â ?? Â ?? We have since released other tokens that may have attracted more attention, Ã ¢ Â ?? Â ?? he said.
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For comparison, arguably Ethereum’s greatest strength has been its community-building strategy, including the educational initiatives of Ethereum attorney Natalia Ameline. Speaking of the Cosmos community, Nalini said that in less than a week, more than 300 people have registered for the next Cosmos hackathon, HackAtom India.
¢ Â ?? Â ?? The Cosmos community in India is growing rapidly, Ã ¢ Â ?? Â ?? said Nalini, especially among students
Ã ¢ Â ?? Â ?? Ethereum and Bitcoin communities are still very large compared to Cosmos, Ã ¢ Â ?? Â ?? he said. Ã ¢ Â ?? Â ?? But it is also due to the first mover advantage. Ã ¢ Â ?? Â¦ Something very special about Cosmos India is the inclusion of colleges and universities in the outreach program. No other blockchain community has done this to date.
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