Cosmos is an ‘interchain’ project aiming to create the internet of blockchains. Cosmos consists of Hubs and zones. Zones are independent blockchains that can be connect to the Cosmos Hub via IBC. Zones and Hubs in the Cosmos network can communicate and transfer tokens from one another securely with fast confirmation without the need of a centralized exchange. Any entity can create and connect a zone to the Cosmos Hub, giving it high compatibility with various applications and chains. Cosmos also provides Tendermint core and the Cosmos SDK in order to facilitate the development of a new blockchain, allowing developers to focus on the application instead of building a new chain from scratch.
Please refer to the Cosmos Hub whitepaper for more technical detail.
Like Iris, goddess of the rainbow and messenger of the gods, IRIS hub aims to build a next-generation public chain to support complex, distributed business applications by becoming a reliable "bridge" between digital and offline economies. Developed by BIANJIE.AI and the Tendermint team, Iris supports integration between public chains, federated and traditional business systems, and allows data and complex computing to be interchanged across networks.
Iris is based on the same topology as the Cosmos network. Based on the Iris SDK (a tool based on the Cosmos SDK that provides extended features specific to Iris), Iris full nodes provide the service infrastructure of the Iris network and provide IPFS (Interplanetary File System) features.
Total supply is 2,000,000,000 IRIS. Please refer to the Iris Cosmos Hub whitepaper for further technical details.
Before Tendermint, building a blockchain required building all three layers of a blockchain(networking, consensus, application) from the ground up. It was a difficult task, so most developers preferred forking the Bitcoin codebase, thereby being constrained by the limitations of the Bitcoin protocol.
Ethereum introduced a virtual machine based on smart contract, simplifying the development of decentralized applications. However, Go-Ethereum remained a very monolithic tech stack difficult to hard-fork from. That is where Tendermint came in.
The goal of Tendermint is to provide the networking and consensus layers of a blockchain as a generic engine on which arbitrary applications can be built. With Tendermint, developers can save hundreds of hours of development work.
Tendermint provides a versatile engine that allows developers to create a variety of blockchain applications.
Blockchains developed with Tendermint engine have the potential to be connected to each other easily because they share the same networking and consensus stack.
This means that blockchains with different applications and validator sets are interoperable. This is a very important feat, as it gives maximum flexibility to each blockchain.
The principle behind IBC is fairly simple. Let’s take an example where an account on chain A wants to send 10 tokens X on chain B. First, these tokens are locked on chain A. Then, a proof that these 10 tokens X are locked is relayed from chain A to chain B. Chain B tracks the validator set of chain A. If the proof is signed by more than 2/3rd of chain A’s validators, then it is valid, and 10 tokens X are created on chain B.
Cosmos proposes a modular architecture with two classes of blockchain: Hubs and Zones. Hubs are blockchains specifically used to connect Zones together.
When a Zone creates an IBC connection with a Hub, it can automatically access every other Zone that is connected to it. Each Zone only needs to establish a limited number of connections with restricted sets of Hubs.
Hubs also prevent double spend among Zones. This means that when a Zone receives a token from a Hub, it needs to only trust the origin Zone of this token and the Hub.
1. If you are using the application for the first time after installing, press [create wallet]. (If you wish to create an additional wallet, press the person icon on the upper right corner of your wallet dashboard.)
2. Proceed to the next page and press [Check mnemonic phrase].
3. Set up your PIN (4 numbers + 1 alphabet) to check your mnemonic phrase (Losing of your mnemonic phrase could lead to loss of your funds. Please take caution and never expose your your mnemonic phrase to others.)
4. Press [Create wallet] and select the blockchain you wish to access (ex. Cosmos Hub, Iris Hub) to complete wallet creation.
1. If you are using the application for the first time after installing, press [Mnemonic phrase]. (If you wish to import an additional wallet, press the person icon on the upper right corner of your wallet dashboard.)
2. Enter your mnemonic phrase (12/16/24 word) and confirm your PIN.
3. Select the blockchain you wish to access (ex. Cosmos Mainnet) and choose from the list of 5 addresses generated from your mnemonic phrase.
Cosmostation mobile wallet supports HD wallets. With an HD wallet, you can access a virtually infinite number of wallets with a single mnemonic phrase.
In Cosmostation mobile wallet, you can access 5 different wallets with a single mnemonic phrase. In the application, the default “derivation path” settings for these 5 wallets are:
If you choose the first wallet from the list, your derivation path will be set to 44'/118'/0'/0'/0. A derivation path is a pointer that directs you to a specfic wallet you wish to access.
Find out more in this blog post.
A mnemonic phrase is a list of words required as a form of authentication to claim ownership of your digital assets.
A private key is composed of complicated numbers and alphabets, whereas a mnemonic phrase is in a readable form. With a single mnemonic phrase, you can import an infinite number of wallets(1, 2, 3, ~n).
Losing your mnemonic phrase could lead to loss of your funds.
Never share your mnemonic phrase with others even if someone asks for it. Cosmostation never asks you to hand over your mnemonic phrase.
Find out more in this blog post.
SETTINGS > Select wallet and Tap the [Check mnemonic phrase] button. You will be able to check your mnemonics after PIN confirmation.
Yes, you can manage multiple wallets.
Press the person icon on the upper right corner of your wallet dashboard and press [+], or go to Settings > Manage Wallet [Import mnemonic phrase] / [Create wallet] to add an additional wallet.
1. From the three buttons that appear when you press [+], Press [Import mnemonic phrase] or [Create wallet] to create wallets using different mnemonic phrases. You can also create multiple wallets from the same mnemonic phrase.
2. When you press [Watch address], you can add a wallet to watch its transactions (you cannot make transactions with this address).
3. You can add and manage up to 5 different wallets. If you have already reached the maximum 5 wallet count, go to Settings > Manage wallet to delete an existing wallet and add a new one.
The mobile application does not support Ledger.
Please use Cosmostation Web Wallet to manage your Cosmos wallet using Ledger.
Cosmostation web wallet supports token transfer, delegation, undelegation, claim rewards, and relegation.
Cosmostation Web Wallet
There are two different types of wallets in Cosmostation Mobile Wallet.
1. Wallet with TX enabled: A wallet that was created using a mnemonic phrase. All transactions including token transfer, delegation, undelegation, redelegation, claim rewards supported.
2. Watch only wallet: A wallet registered without a mnemonic phrase. Available to watch wallet balance and view transaction history.
You can set up a nickname for individual wallets in Cosmostation.
Go to SETTING > Manage wallet > Registered wallets and select the wallet you wish to name.
Press the button on the upper right and edit the name of your desired wallet.
If you do not set a custom nickname for your wallet, your wallets will be sequentially named as Wallet 1, Wallet 2, Wallet 3… by default.
For a more detailed information on your account, please visit Mintscan.
There is a link that directs you to Mintscan in the application as well. Press the arrow button in the upper section of your dashboard where your address is to move to address details on Mintscan.
Mintscan is the official block explorer for networks built with the Cosmos SDK, provided by Cosmostation. You can monitor all activities in the network.
Total balance: Available balance + delegated balance + unbonding balance + unclaimed rewards.
Available balance: Total balance - (delegated balance + unbonding balance + unclaimed rewards)
Tx fee is deducted from your available balance. If you do not have enough funds in availalbe balance to be used as Tx fee, your transaction may fail.
1. Press the purple [SEND] button on the bottom right.
2. Enter recipient address.
3. Enter send amount.
4. Insert memo. (Optional)
Depending on the policy of each exchange, you may have to insert a deposit memo required by the exchange.
When sending tokens from an exchange to a personal wallet (Cosmostaiton Mobile Walle, Ledger, etc.), you are not required to insert a memo.
5. Select transaction fee and confirm transaction detail before pressing [Confirm].
6. Please check transaction information.
Check transaction details at Mintscan, the Cosmos block explorer provided by Cosmostation. Press [Share] to share the link.
* You available balance must be bigger than minimum Tx fee in order to send.
Memo is optional. When you send tokens from an exchange to a personal wallet (Cosmostation Mobile Wallet, Ledger, etc.), you do not have to insert a memo.
However, for exchanges that require a memo for deposits, you must insert the required memo or tag in the transaction.
If you forget to include a memo when transferring to an exchange, your deposit may not be reflected, and you must contact the exchange in order to resolve this issue.
The displayed maximum amount available for transfer is the amount available for transfer after deducting the minimum Tx fee from your current available balance.
A “Watch only” wallet is a wallet registered without its mnemonic phrase. You cannot send, delegate, or make other transactions with a watch only wallet. In order to enable transactions for a watch only wallet, you must go to Setting > Manage Wallet > Watch only wallet, and enter your mnemonic phrase.
Go to your wallet dashboard and press the [QR code] button to view your QR code image or wallet address.
Press [Share] to share your QR code image or wallet address.
Press [Copy] to copy the wallet address to your clipboard.
- Send : Sending tokens
- MultiSend : N:N, 1:N, N:1 Sending to or receiving from multiple addresses in one transaction.
- GetReward : Claiming rewards
- GetCommission : Distribution of validator commission
- EditAddress : Changing the reward deposit address
- SubmitProposal : Submitting a proposal
- Deposit : Depositing ATOM
- Vote : Voting for a proposal
- TextProposal : All the proposals that do not involve a modification of the source code go under this type.
- Unjail : Requeset to be unjailed from jailed status
- CreateValidator : Creating a validator
- EditValidator : Editing validator information
- Delegate : Delegation
- Undelegate : Undelegation
- BeginRedelegate : Redelegation to a different validator
Part of the reason transaction fees exist is to prevent spam attacks in the blockchain.
If there is an insufficient transaction fee, a transaction will not be generated, and a failed transaction will consume the transaction fee.
There are various reasons a transaction shall fail. (ex. Insufficient Tx fee, insufficient gas fee, etc.)
Cosmostation mobile wallet is a user-friendly application that allows users to securely generate various types of transactions. Please confirm the detials of each transaction before making a transaction request.
Theoretically, a higher transaction fee would result in the transaction becoming prioritized over transactions with a lower transaction fee. However, in certain scenarios, this could be a waste of transaction fees.
Therefore, Cosmostaion mobile wallet suggests a default minimum and maximum transaction fee range in accordance to the network condition. A transaction with minimum transaction fee currently takes 7~15 seconds to be confirmed, and a transaction with maximum transaction fee takes 7 seconds (1 block) to be confirmed.
Default Tx fee range set by Cosmostation may change according to network conditions.
A validator is a node operator with sufficient voting power. A validator is responsible for maintaining a stable node operation as well as actively participating in the governance process—in return, a validator receives rewards for this responsibility.
Every block, each validator is given the opportunity to propose. For the Cosmos Hub, there are initially a batch of 100 validators from Mainnet launch. This number is increased 13% yearly for the next 10 years, with a final cap of 300 validators.
Anyone wiling to operate a node can become a validator by generating a Create-Validator transaction. If the number of validators is higher than the maximum capacity, validators with the most voting power(amount of a validator’s self-bonded tokens + tokens delegated to the validator) gets the priority to become included in the validator set.
1. Double signing : If a validator signs more than or equal to two blocks within the same block height, the validator gets slashed. In this case, the validator gets 5% of its voting power slashed.
2. Downtime : Downtime refers to the amount of pre-commits a validator missed. If a validator misses more than 9,500 blocks out of 10,000 consecutive blocks, the validator gets 0.01% of its voting power slashed.
Delegators are token holders who cannot run validator operations themselves. Through Cosmostation Wallet, users can delegate tokens to a validator and obtain a part of its revenue in exchange.
Validators can charge a specific amount of commission in exchange for operating validator nodes for delegators. Validator commission is notified to delegators prior to delegation, and it can be changed within the parameter set by each validator.
In order to become a delegator, you must delegate tokens to Validators. You can view Validator lists in the “reward” tab in Cosmostation Wallet.
Commission is a service fee delegators pay to validators.
Validators operate stable validator nodes, and delegators can choose a validator to stake their tokens to. Each block(approx. 7 seconds), Delegators receive staking rewards after validator commission fees are subtracted.
Validator commission can change within the range previously set by the validator.
- Current commission: Commission currently charged by the validator
- Max commission: Maximum commission rate this validator can set.
- Maximum commission change: Maximum range this validator can change its commission rate.
Delegating to a validator means that you share the risk of the validator’s actions. If a validator becomes slashed, a portion of the delegator’s stake may also become slashed.
Delegators can earn staking rewards from delegating to a validator. Each validator has different commission rates, which affects the amount of staking rewards delegators can get from a validator.
Along with staking rewards, delegators can contribute to the development, expansion, and stability of the network through delegating to trustworthy validators that provide value to the ecosystem.
Atom holders must do their due diligence before choosing a Validator to delegate to. If a validtor acts abnormally, a portion of your delegated Atom may become slashed. Therefore, it is important to monitor the activities of a validator and always remember to delegate to a trustworthy delegator.
You must monitor the activities of a validator even after delegating. After delegating, if a validtor is often offline or conducting abnormal behaviors, it is recommended to redelegate your stake or undelegate from the validator. Delegators can also mitigate the risk of slashing through distributing the stake among multiple validators. Please also remember that it takes 21 days to undelegate. If you wish to delegate to another validator without waiting, you must use the redelegation feature.
When you undelegate, the undelegated Atom will be in "unbonding" state for 21 days and will not be availalbe for transaction. For Atom in "unbonding" state, you will not be able to accumulate staking rewards.
Also, there is a limit to the number of times you can undelegate from a validator. For a more detailed explanation, please refer to this blog post.
When you redelegate from a validator to another validator, there is a limit to the number of times you can redelegate. For a more detailed explanation on redelegation, please refer to this blog post.
(Inflation rate - Validator commission rate) / Delegated Tokens
For example, let’s say you delegated 100 Atom to Cosmostation. If there is 1 Atom per month as staking reward, you will receive 0.88 Atom after deducting 0.12 Atom (12% validator commission) as your final staking reward.
If you wish to undelegate all Atoms or a portion of your delegation from a Validator, you must use the [Undelegate] feature. Go to the Rewards tab and select the validator you have delegated to in order to access the [Undelegate] feature.
You will be able to have access to your Atoms 21 days after you request undelegation. For the 21 days, you will not accumulate any staking rewards for the amount Atom being undelegated.
Tokens that are in unbonding period do not earn staking rewards for 21 days.
When you request undelegation, previously unclaimed rewards are automatically withdrawn to your wallet and the undelegation amount changes to “unbonding” state for 21 days.
You must use the redelegate function in order to relegate your stake from ‘Validator A’ to ‘Validator B.’
1. Go to Reward > My validators and select ’Validator A,’ the validator you wish to redelegate from.
2. Press [Redelegate] and select ‘Validator B,’ the validator you wish to redelegate to.
3. Insert memo. (Memo is optional)
4. Select Tx fee and check transaction detail before pressing [Confirm].
5. Check transaction information. Visit Mintscan block explorer for a more detailed transaction information. Press [Share] to share your Txid.
For a more detailed explanation on redelegation, please visit this blog post.
A change in the delegation status(undelegation, redelegation, etc.) causes your unclaimed staking rewards to be automatically claimed.
For example, if you have some unclaimed staking rewards and you execute a transaction that changes your total stake by either undelegating or redelegating, your unclaimed staking rewards will be claimed automatically and deposited to your wallet.
Go to Reward > My validator > [Claim all rewards] in order to claim rewards from up to 16 validators sorted by your stake. When you request claim reward transactions for each validator, you have to pay transaction fees multiple times. When you use [Claim all rewards], you only have to pay transaction fee once and therefore can save some fees.
You can change your claim reward address.
Go to SETTING > Manage wallet > Change claim reward address
1. Deposit period
- Minimum 512 ATOM must be deposited within a 2 week period after the governance has been proposed in order for the vote to begin.
2. Voting period
- Voting lasts for 2 weeks(336 hours) and ATOM holders can vote on the proposal(Yes/No/No with veto/Abstain).
- Voting is available only for bonded tokens.
- The larger the amount of bonded tokens, the larger the voting power.
- The results of the vote must meet the following criteria in order to pass.
- At the end of the voting period, minimum 40% of bonded tokens must have participated in the governance proposal (including abstain votes), and NoWithVeto must be less than 33.4% (excluding abstain votes).
- Yes : More than 50% of voting power must vote 'YES' (excluding abstain votes).
- No : More than 50% of voting power must vote 'NO' (excluding abstain votes).
4. Proposal results
- Results of the proposal and proposed change is reflected on the network.
Minimum 512 ATOM must be deposited to the proposal in order for the vote to begin. If the proposal hasn't reached its minimum deposit within 2 weeks, your ATOM will be returned.
Delegating ATOM to a validator also means that you are delegating your voting power. A validator can cast vote on behalf of delegators.
However, delegators can also participate in governance voting.
If a delegator participates in voting, the delegator’s vote will overwrite the validator’s vote and have priority over it.
For example, If a validator voted “YES” to a proposal but the delegator voted “NO,” the delegator’s portion of voting power will be voted as “NO.”
You can participate in governance voting through Gaia CLI or a web wallet.
For a detailed explanation of how to use Gaia CLI, please refer to this link.
You can monitor real-time status of the voting proposals and read the summary in the 'Voting' tab on Mintscan.
If you wish to learn about other validators’ and community members’ opinion on the topic or participate in discussion, please refer to the governance comment section on the bottom of each proposal page.
No, you cannot change your PIN. PIN is required for withdrawal and other services on the application, so never lose your PIN.
Cosmostation wallet currently supports KRW(₩), USD($).
You can change the currency in Settings > Currency Settings, and we will continuously add new currencies.
Cosmostation wallet currently supports Korean and English.
You can change language settings in Settings > Lanugage Setting, and we will continuously add new languages.
Yes, you can either create a new wallet or import an existing wallet on a different device.
* Using multiple devices could lead to exposure of your mnemonic phrase. Make sure not to expose your mnemonic phrase to anyone else.
When you back up your mnemonic phrase using [Mnemonic phrase backup] > Copy, your phrase is in your clipboard. Losing your mnemonic phrase could lead to loss of your funds. Please remember to delete your seed phrase saved in your clipboard.
Your mnemonic phrase is encrypted with strong encryption algorithms and stored locally on your device. Cosmostation maintains high security to protect our users’ assets.
Locking your phone is highly suggested. For iPhone, the keystore technology automatically encryptes your data./ However, locking your phone in highly recommened in order to achieve higher level of security.
You cannot restore your PIN.
If you lose your PIN and cannot open the application, you must delete and re-install the application. Re-install the application and restore your wallet.
There are two scenarios in which the recipient address is invalid.
1. If you entered a validator’s operator address.
2. If you entered an invalid Cosmos address.
Please check the wallet address again, and if you are still having problems please contact us at firstname.lastname@example.org
You cannot withdraw tokens to the same address you are sending from.
Please check your address again and enter an address other than the address you are currently sending from.
If the problem persists even after changing the address to another wallet, please contact us at email@example.com
Your remaining balance after the amount of tokens you are about to send must be equal to or larger than the transaction fee you select.
Cosmostation mobile wallet supports the following device and OS.
- Device type: Smartphone (tablet not recommended)
- OS: Android OS 6.0 (Marshmellow) +, iOS