Staking Guide

【Staking Guide】Cosmos($ATOM)

2 Mins read
Staking Guide

【Staking Guide】Cosmos($ATOM)

2 Mins read

Cosmos: Cosmos is a decentralized network of independent parallel blockchains, each powered by BFT consensus algorithms like Tendermint consensus. In other words, Cosmos is an ecosystem of blockchains that can scale and interoperate with each other.

Cosmos Hub: Cosmos Hub is Cosmos’s primary blockchain that connects other customized blockchains known as Zones, more clearly, acts as a central ledger for the ecosystem where Zones exchange IBC messages. It does this by keeping track of the state of each Zone through the Inter-Blockchain Communication Protocol (IBCP). Through this protocol, information can easily travel between any Zone connected to Cosmos Hub.

$ATOM: $ATOM is Cosmos’s native coin, which was distributed via an Initial Coin Offering (ICO), and it has no supply limit, making it an inflationary coin. This is due to Tendermint Core rewarding stakers with freshly minted $ATOM. The inflation rate adjusts in real-time based on the amount staked and the number of stakers. $ATOM has three primary use cases: 1) Users must pay their transaction fees using $ATOM, proportional to the computational power required. 2) $ATOM is also used to take part in Cosmos Hub’s governance system. The more $ATOM people hold, the more voting power they have in platform decisions. 3) The coin is staked behind validators for rewards in taking part in the consensus algorithm.

Keplr: Keplr is a non-custodial blockchain wallet for web pages that allow users to interact with blockchain applications.

Stake $ATOM via BlockPower

Step 1. Open the Keplr Dashboard, connect your wallet.

Step 2. Now you can see the assets overview page. Choose ‘Cosmos Hub’ through the left side.

Step 3. A trusted validator can bring more value to your assets. Type ‘blockpower’ in the whiteblank and search.

Step 4. Confirm BlockPower to manage your assets ($ATOM). Double-check the information such as permission and APR.

Step 5. Write down the number of ATOM tokens you want to delegate in the “Amount” field, then click ‘Delegate’.

Step 6. Review and insure the transaction information, choose suitable Gas Fee (usually Low is sufficient).

Step 7. Waiting for a while after completing the above operations, you can soon see your delegation information.

Now you will begin receiving rewards based on how much ATOM you staked.

About BlockPower

Our Staking Services

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Why Choose Us to Manage Your Assets

Historical

BlockPower almost grew together with the establishment of the PoS consensus. For instance, we have become Cosmos Genesis Validator since March 13, 2019.

Experienced

BlockPower is one of the earliest participating service providers in Cosmos Network and Tezos Network. Furthermore, we have colorful experience in operating other networks like Juno, Osmosis, Aptos and so on (not only include Mainnet but also contain Devnets ). We have rich experience in emergency escalation, which reflects our instant crisis response capability.

Communicated

BlockPower is actively participating in governance (like voting proposals and discussing in forums and discord channels), and what’s more, we have our own blog, disclosing information frequently.

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