Start staking

Staking is participation in the proof of stake consensus in order to secure the distributed ledger. Blacknet rewards it with newly mined cryptocurrency and transaction fees. The mined cryptocurrency comes at a rate defined by the protocol. The transaction fees come from native and platform transactions. Cold staking is staking from a cold cryptocurrency wallet.

With full node

A full node is a node that verifies and maintains a copy of full blockchain history. You may need to launch and keep the node running and online. The node relies on a system clock and may not function properly if it is set incorrectly. Projects of alternative UI also exists.[1]

With software wallet

You can activate staking in the web UI. To have automatically activated staking, you could put mnemonic into configuration file blacknet.conf, for example mnemenic that is used in testing mode:

## Start staking at node start up
mnemonics=疗 昨 示 穿 偏 贷 五 袁 色 烂 撒 殖

Never disclose your mnemonic to anyone.

With hardware wallet

Support for hardware wallets may be implemented in future updates. A hardware wallet is a special device that stores your mnemonic or private key and signs a new block generated by staking.

With pool

Stake pool is a way of staking with lightweight wallet and combining small staking weights together.

Leasing to pool

You may lease BLN from wallet to a pool that stakes with full node. The minimum amount is 1000 BLN. Await maturation of this transaction. Proof of stake reward is distributed by pool according to its terms. A pool cannot re-lease (lease again) to another pool. You may cancel leasing at any time.

Operating pool

A pool operator runs a full node with an address to that stakeholders may lease weight. Usually, a pool is publictly announced with the terms of service and BLN address.

About stake pool

Cold staking was introduced in Blacknet proof of stake version 4. It allows to have a block signing key that is different from a spending key. A block signing key is used by node for staking, whilst a spending key can be stored in a cold wallet. Pooled staking was observed in the reply.[2][3] Staking pool allows to participate in staking having only a lightweight wallet. Leased weight is combined by pool without rights to spend coins. Stake pool weighting may be implemented.