Change cursor transparency & blink type on mode changes

Is your feature request related to a problem? Please describe.
I recently switched from Atom to Visual Studio Code. Unfortunately, I was not able to carry over some of the subtle differences that appear in the cursor when switching modes in Atom. I'm using vim mode in conjunction with the material theme for both editors, and I previously enjoyed the way Atom handled its cursor styling when switching between modes.

In VSCode, I was able to get similar styling (a semi-transparent teal cursor) for normal mode, but there was no way to apply different styling in insert mode. In the vim-mode for Atom, the cursor becomes 100% transparent again, and it blinks instead of being solid.

Describe the solution you'd like
I'd like there to be a way to change the transparency and/or blink type of the insert mode cursor in settings.json.

Describe alternatives you've considered
The additional options in settings.json might be similar to the existing method for changing the cursor style in each mode (which does not allow for changes to whether the cursor blinks or its transparency). Currently, that option can be set like this (taken from the README):
vim.cursorStylePerMode.{Mode} and allows string values such as line, block, underline, etc.

Additional context
Some gifs to demonstrate the issue:

Start with the README's vim.cursorStylePerMode.{Mode} setting and the existing settings.json options; no implementation files or tests are named in the issue. Define how insert-mode transparency and blink type should be configured, then document and verify that those settings change the cursor as requested.