HomeCoinsQTUM (QTUM)Introduction to Qtum Staking. An introduction to Qtum online and… | by...

Introduction to Qtum Staking. An introduction to Qtum online and… | by Qtum | Nov, 2021

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Qtum is a Proof-of-Stake (PoS) based decentralized network. This means that nodes may lock up their QTUM tokens in the network directly or delegate them to someone else to stake new blocks successfully.

Staking in Qtum can be one of the following:

  • Online staking using a super staker or solo staker
  • Offline staking

Online staking means you are directly running the staker and validating blocks yourself. To participate, you must download the Qtum Core wallet and sync it with the entire blockchain.

  • Run a Qtum full node and stay online. Your laptop can run this full node with ease.
  • Make sure that you have synced with the main Qtum blockchain.
  • Make sure you have some QTUM in your wallet.

You can learn all the steps you will need to take to become a super staker here.

Do note that a super staker should be able to:

  • Reference any address on the blockchain.
  • Read log events for smart contract information.

Launching and enabling your wallet enabled for super staking will provide you with these functionalities.

NOTE: Most users don’t have the coins needed to be a super staker. As such, it is much simpler to delegate your stake or be a solo staker.

On Block 680,000 — mined at 3:11 PM (EST) on Friday, August 28, 2020 — Qtum successfully activated offline staking on its mainnet. Offline staking allows all holders to delegate their non-staking wallet address to a Super Staker without giving up control over their coins and privileges. In addition, this will enable users who may not have the time or resources to be an online staker to still participate in network consensus.

How does delegation work?

Address delegation is set up when the delegator’s wallet sends a smart contract transaction, which identifies the following:

  • Delegator’s address
  • Super Staker’s address
  • Fee the delegator agrees to pay.

The moment the Super Staker accepts the fee, they will start staking the delegator’s address UTXOs. Qtum treats delegated UTXOs by following these rules:

  • Only mature UTXOS, which have gone through at least 2,000 confirmations can be used for staking.
  • Super Staker sets the minimum size of UTXOs to stake. The default size is 100 QTUM. If delegated UTXOs are below this amount, they will be ignored.
  • The Super Staker should break up their UTXOs into smaller 100–200 QTUM sizes for optimum results[3] [4] using the “split” command. Super staker UTXOs must be a minimum size of 100.0 QTUM and splitting their UTXOs to this size means they can support more delegations.

You can delegate your addresses via Qtum Core, Qtum Electrum, or the Qtum Web Wallet.

How to do delegations with Qtum Core?

  • Select Stake –> Delegations in your Qtum Core wallet.
  • Add delegation when you click the “+” button in your wallet.
  • Enter the Staker name and address. Also, add the fee you agree to pay which must be the same as the super staker fee, and select your address to be delegated.

Understanding delegating addresses operations

The “Delegate Address” transaction deploys the delegation assignment to be picked up by the Super Staker. If the delegator is holding QTUM tokens on multiple addresses, the delegation has to be made separately for each address. It is recommended that in this case, the delegator should bundle up their UTXOs into one single address before splitting and delegating them.

The Super Staker first accepts a delegation for a specific fee. If they later reduce the fee, the delegator must delegate their address again to take advantage of these lower fees.

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