How to Stake¶
Last updated for v1.1.3
How to Stake¶
Participating in proof-of-stake requires a Decred wallet to be running 24/7. The wallet needs to be always online so that it can be called to vote - if the wallet is unavailable then the votes will be missed and no block reward will be received.
Running your own always-online wallet is known as “Solo” staking/mining.
Stakepools are available for those unable to keep a personal voting wallet online. Using a stakepool is completely safe, the Decred PoS protocol allows you to delegate your vote to a stakepool’s always-online wallet without ever giving the stakepool access to your funds.
Solo mining is currently only possible using the Decred command line tools. The Buying Tickets with dcrwallet guide explains how to buy tickets using the CLI wallet
PoS using a Stakepool¶
You can find the list of all official stakepools and statistics by visiting the Decred website.
Using a stakepool DOES NOT give the pool access to your funds. All you are doing is granting voting rights to the pool.
In order to support network decentralization, it is recommended that you join a smaller pool with fewer live tickets.
All stakepools run the same basic code, but they may differ in the amount of redundancy available. More redundancy equals less chance of missed votes, although all pools will have missed votes as many missed votes are caused by PoW miners. Sometimes they will find a solution to the blocks so quickly that votes haven’t had time to propagate around the network.
There are currently two wallets which support stakepool voting: