Gas Estimation — How to optimize gas? (iOS/Android/Web)
Download Cosmostation Mobile (iOS & Android) or visit Cosmostation Web Wallet now to create your personal wallet and begin securely sending, delegating, claiming rewards and managing your assets.
Cosmostation Mobile (iOS & Android) and Cosmostation Web Wallet are products developed and maintained by Cosmostation Validator.
Cosmostation is an enterprise-level validator node operator and end-user application developer for major PoS networks, with a strong focus on networks built with the Cosmos SDK and Tendermint Engine.
We believe that providing secure and user-friendly tools for the ecosystem is just as important as operating a stable and secure validator node. End-user applications with good UI/UX improves the overall accessibility of the network as well as its appeal to the general masses. Below are some of the products we have developed for the Cosmos SDK & Tendermint ecosystem.
Cosmostation Web Wallet
Web Wallet for PC. Connect your Ledger Hardware wallet or personal wallet via Keystation(explained below) to make secure transactions.
Keystation
End-to-end encrypted key management system for networks built with the Cosmos SDK. Open source, no installation required. Keystation allows users to access their personal accounts on Cosmostation Web Wallet even without a hardware wallet.
Cosmostation Mobile Wallet
Open source, non-custodial mobile wallet for Cosmos SDK based assets. Available in both iOS and Android.
Cosmostation Mobile is an open-source, non-custodial wallet for networks built with Tendermint. Cosmostation mobile wallet is the wallet of choice for the majority of users within the Cosmos ecosystem. To learn more about Cosmostation Wallet and how the application keeps your funds safe & secure using local-signing, please read the blog posts below.
In simple terms, gas is a required cost necessary to perform the transactions on the blockchain network. But did you know that you can minimize the Tx Fee with a click of a button? In this article, Cosmostation will explain on how you can minimize gas using our mobile wallet and will walk you through step-by-step.
What is gas?
Similar to what gas does in the real life, gas in the blockchain space is a computation resource that one transaction consumes and gas price is how much a user is willing to pay per unit of gas and user can choose from three options.
The Total amount of Tx Fee is calculated by max(gas * gas price) and it is what a user ultimately pays for the transaction fee. If you want to know detailed information about gas, please refer to the documentation below.
How can you save gas from Cosmostation Mobile app?
Let’s say you’ve already created wallet & moved funds to the Cosmostation Mobile Wallet (iOS & Android)
*Click here if you haven’t created your Cosmostation Mobile Wallet (iOS & Android)
Press “Delegate” button in the main dashboard -> Click “Top validator list” to see all top validators in one list-> Select Cosmostation -> Press “Delegate” button.
Then enter the amount you wish to delegate -> Enter memo (optional).
HERE COMES THE IMPORTANT PART!
The goal of all users is to go through the transaction by paying as low transaction fee as possible. However, since the gas rate of Tiny on Osmosis is 0, the total Tx Fee Amount is 0. So, we used “Low” option to demonstrate the change of Tx Fee Amount.
This is the logic that is running behind the System.
So on the validator side, every validator has a different minimum gas rate configuration in their system for accepting the transaction. When a user clicks “Check Estimate Gas Amount”, then Cosmostation Mobile App reads minimum gas rate from the blockchain system and apply it to Tiny, Low, and Average options. It then gets applied to calculate user’s Tx Fee Amount.
It has a POSSIBILITY that “Tiny” option takes longer relative to “Average” option. It is because the order of validator proposal depends on the voting power and a user who chooses “Tiny” option has to wait until a validator who meets the minimum gas rate requirement.
Choose one of the Three options of transactions -> Press “Check Estimate Gas Amount” -> Enter PIN
And then TADA!
The total Tx Fee Amount has changed!
Now, delegate, re-invest, and use other functions SECURELY and with MINIMUM TX FEE with Cosmostation Wallet.
About Cosmostation
Cosmostation is an enterprise-level validator node infrastructure & end-user application provider based in Seoul, South Korea. Cosmostation runs validator nodes across several networks, specifically focused on networks built with PoS(Proof of Stake) consensus. Along with node operation, Cosmostation develops and maintains Mintscan Block Explorer and Cosmostation iOS, Android, Web Wallets to support in-depth features for modules specific to each network.
Website: https://www.cosmostation.io/
Github: https://github.com/cosmostation
Android Wallet: Android — Google Play Store
iOS Wallet: iOS — iTunes App Store
Block Explorer: https://www.mintscan.io/
Medium: https://medium.com/cosmostation/
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Telegram: https://t.me/cosmostation
