Atom Cosmos Hub-3 → Tutorial be your own Crypto Bank

This Guide is about Atom the Blockchain for the Cosmos Hub-3 and how it can be your own Crypto Bank.

https://cosmos.network/

  • Build one node and sync the Cosmos Hub -3
  • Create accounts and recover
  • Delegate, nominate do Staking

All in one VPS with 2 Cores, 8 Ram, Ubuntu 18.04

  • 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.

Following this tutorial guide to build a node and manage accounts.

sudo apt update && sudo apt upgrade -y && sudo apt install build-essential
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"
PATH="$GOPATH/bin:$PATH"
PATH="$PATH:/usr/local/go/bin"
#Safe the file and reload the profile
source $HOME/.profile
go version

go version go1.13 linux/amd64
git clone https://github.com/cosmos/gaia.git && cd gaia && git checkout v2.0.8; make installgaiad version --longname: gaia
server_name: gaiad
client_name: gaiacli
version: 2.0.8
commit: e6f3efff002f74741b05233fe1f05aa893611d53
build_tags: netgo,ledger
go: go version go1.14.2 linux/amd64
#Create folders and add mane at the node
gaiad init Node-Name-here --chain-id cosmoshub-3
#Remove the test genesis.json file
cd .gaiad/config/
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.toml
minimum-gas-prices = "0.025uatom"#safe the file and start Cosmosscreen -S cosmosgaiad start#to synchronize on this screen and return to the main.
CTRL+a+d
#Return to check cosmos
screen -r

Looks like this meanwhile is downloading the existing Blocks and sync the last.

Downloading the Cosmos Blockchain

Check status and info of the node

gaiacli status

“network”: “cosmoshub-3

“latest_block_height”: “214880”,

“latest_block_time”: “2019–12–29T02:33:04.097625749Z”

“catching_up”: false → (Node is sync)

curl http://localhost:26657/net_info

“n_peers”: “36

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
gaiad -h
gaiacli -h

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

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

https://stake.id/#/

https://stargazer.certus.one/

https://www.mintscan.io/validators

https://cosmos.bigdipper.live/validators

https://cosmos.ping.pub/validator?chain=cosmoshub

https://hubble.figment.network/cosmos/chains/cosmoshub-3

gaiacli query staking validators --chain-id cosmoshub-3

This is one validator and other different is bellow

The Cosmos melea Validator = melea ◮👁◭

https://cosmos.bigdipper.live/validator/51DB2566204EE266427EA8A6CB719835AB170BE9

Thanks for supporting our Validator service via nominations

https://meleatrust.com/cosmos

melea Cosmos validator

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

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
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.

example:

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.

gaiacli tx send [from_key_or_address] [to_address] [amount] --chain-id cosmoshub-3 --node tcp://localhost:26657

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