Cosmos (ATOM)

What is Cosmos?

The Cosmos blockchain is a network of parallel, independent blockchains supported by Byzantine Fault Tolerant consensus algorithms like Tendermint. Cosmos' primary objective is to improve interoperability between blockchains. This would allow users to trade digital assets that are native to one blockchain like Bitcoin, for coins on another blockchain like Ethereum.

Proof of Stake

If you stake to the top 125 validators, you will get rewards from the blockchain. Rewards from the blockchain will be distributed to you from the blockchain.

Staking

You can choose the amount you stake in your wallet. The staked coin remains in your wallet but it will be locked and cannot be sent. Also, the wallet balance shows the number of coins that are not staked. If you want to send the staked coins, you will need to unstake them. (Refer to Unstaking section.)

Rewards

Rewards will be distributed per block. Blocks are generated approximately every 7 seconds (You will see that the reward in the wallet will increase). To receive the reward, you must claim the reward from the blockchain because it is not distributed automatically. Please note that you will have to pay a transaction fee to receive this reward. Also, if you additionally stake more ATOM or unstake ATOM, you will automatically claim reward in the same transaction and the accumulated reward will return to 0.

Unstaking

If you want to send an asset that is currently staked, you will need to unstake it first. The unstaking of your tokens will take a full 21 days before they become available, therefore you will not be able to send the tokens immediately. The period during which the tokens cannot be transferred is called the "lock period." Although you can select the amount to unstake, you can only unstake at most 7 times at the same time.