What is this about?
- Build one node and sync the Cosmos Hub -3
- Create accounts and recover
- Delegate, nominate do Staking
what do we need?
All in one VPS with 2 Cores, 8 Ram, Ubuntu 18.04
What can be my interest to run a node, if I am not one exchange, Validator or other?
- The main difference is in terms of security that you are not entering your keys in a web browser of an app managed by a third party on the Internet.
- From your own node you can carry out all the transactions related to the blockchain such as voting on government proposals, delegating, transfers, uploading proposals, everything can be done from your node through the command line.
- Web wallet users depend on the web of these wallets working correctly, comply with security standards and do not suffer from attacks to make fake web or DNS attacks. With your own node, nothing like this can happen to you.
- In a volatile market such as cryptocurrency, you are interested in being able to have the most control over your tokens at all times and not depend on third parties.
- You are keeping a backup of the blockchain day by day and collaborating with the community at the same time helping to make the network more decentralized
I can think of more reasons like your privacy and more, but with the above reasons, you have enough.
How do I start to be my own Bank?
Following this tutorial guide to build a node and manage accounts.
#Update Ubuntu and install tools
sudo apt update && sudo apt upgrade -y && sudo apt install build-essential
#Install Goland 1.13+
wget https://dl.google.com/go/go1.13.linux-amd64.tar.gzsudo tar -C /usr/local -xzf go1.13.linux-amd64.tar.gz#Add this to your pathvi $HOME/.profileGOPATH="$HOME/go"
#Safe the file and reload the profile
go version go1.13 linux/amd64
#Install Gaiad for the Cosmos Hub 3
git clone https://github.com/cosmos/gaia.git && cd gaia && git checkout v2.0.8; make installgaiad version --longname: gaia
go: go version go1.14.2 linux/amd64
Cosmos Gaia has installed successfully, now setup
#Create folders and add mane at the node
gaiad init Node-Name-here --chain-id cosmoshub-3#Remove the test genesis.json file
rm genesis.json#Get the genesis.json for Cosmos hub-3wget https://raw.githubusercontent.com/cosmos/launch/master/genesis.json#Add peers or seeds you know that can trust then.
vi config.toml#Comma separated list of seed nodes to connect to
seeds = "ask for peers, seeds here → telegram Cosmos https://t.me/cosmosproject"#safe the file#Add gas price for the node
vi .gaiad/config/app.tomlminimum-gas-prices = "0.025uatom"#safe the file and start Cosmosscreen -S cosmosgaiad start#to synchronize on this screen and return to the main.
#Return to check cosmos
Looks like this meanwhile is downloading the existing Blocks and sync the last.
Check status and info of the node
“catching_up”: false → (Node is sync)
gaiacli keys add WRITE-ONE-NAME-HERE
Safe the mnemonic pharse in a safe place!
- *Important** write this seed phrase in a safe place. Is to recover the account.
gaiacli keys add (this-is=KEY-NAME=WRITE-ONE-NAME-HERE) --recover
gaiacli keys list
List of commands
Check the account balance
The balanced is true when the node is totally synced to the last block.
gaiacli query account cosmos1zqght.......t --trust-node
What is Stake?
It is the result of using your Atoms to secure the network and get Atoms back in the form of day-to-day payment at the interest rate for your services.
Your Atoms work for you and produce interests
How can I start to Staking?
You can start to staking Delegating to one or more Validator you wish.
Today 125 Actives validators to choose your candidates.
The Validator list:
Check the differents Cosmos Explorers
List of actives Validators via command line
gaiacli query staking validators --chain-id cosmoshub-3
This is one validator and other different is bellow
The Cosmos melea Validator = melea ◮👁◭
Thanks for supporting our Validator service via nominations
In this example, we will delegate 1000 Atoms to melea
Talking about ATOMS and UATOMS
1 Atom = 1000000 UATOMS
Delegate 1000 ATOMS = 1000000000 UATOMS
For delegates to one validator have to check the operator address in the description for each validator.
Operator Address :cosmosvaloper1zqgheeawp7cmqk27dgyctd80rd8ryhqs6la9wc
After copy, the address for delegate cosmosvaloper….. paste in the cmd like in the next example.
You can delegate to as many Validators as you want
gaiacli tx staking delegate cosmosvaloper1zqgheeawp7cmqk27dgyctd80rd8ryhqs6la9wc 1000000000uatom --fees=11111uatom --from keyname --chain-id cosmoshub-3 --node tcp://localhost:26657
Undelegate or Unbound and stop doing staking
Example for Unbound 1000 atoms from Validator
gaiacli tx staking unbond cosmosvaloper1zqgheeawp7cmqk27dgyctd80rd8ryhqs6la9wc 1000000000uatom --fees=11111uatom --from keyname --chain-id cosmoshub-3 --node tcp://localhost:26657
List of staking commands
gaiacli tx staking -h
Then if want to redelegate from one validator to others can ask for help like
gaiacli tx staking redelegate -h
See the command example and add the data
what is keyname?
keyname is the account name.
gaiacli keys list
Here NAME: melea is keyname
The address to request Atoms be sent to you in your account will be the one that appears in ADDRESS: cosmos1z…. and that you recognize as your account.
Send Atoms to another Cosmos account
gaiacli tx send [from_key_or_address] [to_address] [amount] --chain-id cosmoshub-3 --node tcp://localhost:26657
Need assistance for nominate or help contact via web
Víctor | melea