Close. Since then, there has been a steady adoption of this new protocol and this report provides an update on offline staking activity and Network Weight. Binance joins the likes of OKEx, Huobi, CoinDCX, and Gate.io by letting users earn QTUM for holding tokens. Web Wallet offline staking manual https://github.com/qtumproject/documents/tree/master/en/QTUM-WebWallet-usage#address-delegation-for-offline-staking, 4. List of Super Stakers https://stake-a-thon.qtum.org/en/super-staker/list, 2. In QTUM offline staking there is no need to give up custody of your funds (remember the comparison with a bank deposit from before?). Offline Staking is a relatively new concept in crypto, and Qtum is one of the first to introduce a working protocol. Qtum offline stacking delegation is a smart contract between you and an online node called Qtum Super Stacker. 6 min read. Offline Staking Update. Previously, to stake and earn rewards, one had to run a full node. Archived. Solana Price Prediction 2021, 2025 and 2030: SOL to $100? Therefore, in 500 blocks the Super Staker … Learn more, Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore, If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. When offline staking was launched in late August Network Weight was around 12 million and recently has been in the 22 million range. The chart below shows Network Weight smoothed on a weekly average basis. To stake QTUM coins it is recommended to run the official Qtum Core wallet with an entire copy of the blockchain on your Computer or a Virtual Private Server (VPS). Qtum Guide for Beginners: Bridge between BTC & ETH. Circulating Supply, Total Staked, Inflation, Block Time, Validators, Transaction Fees, Block Rewards and other metrics to analyse Qtum (QTUM) It’s easy and free to post your thinking on any topic. But if you are not new to the crypto space or finance, you must realize that every coin has two sides. How to stake Qtum? Qtum’s offline staking (“mining”) mechanism will be based on Qtum smart contracts and UTXOs (Unspent Transaction Outputs). share. To attract more users, Qtum Foundation ran a. to each participant, pools and super stakers. Upon mining this block, “offline staking” was activated on the mainnet. Cryptocurrency News: Musk Criticizes BTC, New ETH ATH. It is achieved by delegating UTXOs to a super staker address. Qtum in Qtum. Did you find this article informative? 45% Upvoted. Note that other wallets like mobile wallet and Qtum Electrum are not able to stake for the time being. Qtum Offline Staking allows the address for a non-staking wallet (capable of making the delegation assignment transaction) to be delegated to a Super Staker. For more information about what Offline Staking is and how it works, look in our other article “How to stake Qtum( QTUM): a complete guide”. Network Weight for the Core Wallet is calculated in the function GetPoSKernelPS() https://github.com/qtumproject/qtum/blob/b247f55da6ce6f818561ab171877dc7eb9ebe7a0/src/rpc/blockchain.cpp#L114, 5. We’re going to show you how to … Offline staking has grown ... - Qtum In QTUM, though, there are no slashing or custodial risks. Qtum Staking. Average Reward Rate14.95%-1.07%. For offline staking the block reward is paid: 100% minus StakingServicesFee to the address delegated. The online node stakes your offline funds for you, for a % fee. 4. It can also be called ‘cold staking’, because even the coins in cold wallets can participate in consensus. In August, the Qtum blockchain platform developers added the ability to stake tokens and receive rewards using “offline staking”. Then the probability of winning the reward for each block would be 0.1, and the expected time to win a block reward would be 10 blocks. Decentralized blockchain application Qtum has received a major boost, after several cryptocurrency exchanges announced support for its new offline staking feature. Large Companies Buying Bitcoin: Why They Invest in BTC? Network Weight has increased with the launch of offline staking protocol, showing that more coins are being staked, which increases the security of the blockchain. They have to “lock” in any amount they desire in the protocol and designate it to a chosen staker. 10 comments. Average Total Staked23.13%-1.65%. Currently, Qtum Core wallet is the only wallet that support Qtum PoS staking. Offline staking is pretty similar to delegated staking in other networks. As it is based on amount and chance, it is far easier to sell all qtum for neo. Staking is a powerful tool for cryptocurrencies to become an alternative to traditional finance and banking. Upon mining this block, “offline staking” was activated on the mainnet. Once the delegated UTXOs mature (pass 500 confirmations), you will start earning block rewards and transaction fees. Offline staking, as the name implies, is a feature that lets users participate in the network consensus without having to have a full node online at all times. As a warm-up for testing Offline Staking on testnet, here is a review of the Qtum testnet. While the yield farming and liquidity mining craze took DeFi over, QTUM introduced a more sustainable alternative. QTUM Offline staking proves how crypto can be more accessible and profitable than banking and finance. It occurred at block 680,000 on Friday, August 28th, 2020. In QTUM, it is even easier than opening a bank account. In this article, Cold staking was launched in QTUM in August this year after a network upgrade. However, staking has its limitations: it is not always easily accessible, and always boils down to having to run a full node at all times. It is a feature which lets users designate their funds to a super staker and gain a share of block rewards without transferring the assets; The main difference of cold staking from regular staking is the lack of need to run a full node; The only risks associated with participation is in trusting the chosen super staker to be online; QTUM offers a more sustainable alternative to yield farming in the form of offline staking, as it helps secure the network. So the only downside of choosing an unreliable super staker is it stops bringing you profit. This thread is archived. In the long term, the more secure the network, the more reliable the platform. save. Two ways to stake: Method 1：Staking with qtumd, using command line, suitable for Linux/OSX/Windows/Raspberry Pi users who are familiar with command line tools. You can learn more about Stake-A-Thon and sign up to win prizes at https://stake-a-thon.qtum.org. Offline staking does not involve using a node, and all transactions are done without the Internet. Suppose a more realistic Super Staker was staking 10% of network weight (still a big number!). Qtum Offline Staking is non-custodial, ... As a result, the feature is likely to reward new users and investors to stake QTUM offline, further creating demand for the asset. Following a successful major upgrade last month, Qtum’s offline staking has now been brought to main net, making it the first-ever blockchain to offer “cold” staking, providing steady yield with less exposure to systemic risk. Recently these offline staking block rewards have grown to 54.4% of overall block rewards. Qtum’s offline staking protocol launched four months ago with a hard fork on August 28, 2020. With Qtum’s Offline Staking Protocol, a user can contribute to the network consensus by … What is Qtum Offline Staking? Offline staking, a new way to make crypto work for you without losing ownership over your funds, emerged at the same time as DeFi truly gained a spotlight. In that regard, on a surface level it can be compared to a deposit in a bank. For example, if the UTXO of a delegated address wins the block reward for a 10% fee super staker, the super staker pays out that block reward instantly 90% to the delegate (currently 3.6 QTUM), and 10% (0.4 QTUM) to itself. Qtum event: Stake-A-Thon for Offline Staking on Jul 25 to Aug 24, 2020. This is a non-custodial delegation which means the delegator retains full control of their coins and private keys. The fees are also determined by super stakers themselves, so some charge more than the others. Write on Medium, https://stake-a-thon-test.qtum.org/en/super-staker/list, https://stake-a-thon.qtum.org/en/super-staker/list, https://github.com/qtumproject/documents/blob/master/en/OfflineStaking.md#offline-staking, https://github.com/qtumproject/documents/tree/master/en/QTUM-WebWallet-usage#address-delegation-for-offline-staking, https://github.com/qtumproject/qtum/blob/b247f55da6ce6f818561ab171877dc7eb9ebe7a0/src/rpc/blockchain.cpp#L114, https://github.com/qtumproject/qtum/blob/b247f55da6ce6f818561ab171877dc7eb9ebe7a0/src/qt/superstakeritemwidget.cpp#L152, https://github.com/JB395/Network-Weight-from-Difficulty, Qtum April Community & Development Updates, Into the FastLane: Reduced Block Time — Part 5, Qtum Chain Foundation First Quarter 2021 Expenditures, Into the FastLane: Reduced Block Time — Part 4, Using Qtum Electrum with Hardware Wallets. QTUM underwent a significant upgrade in August, which will bring about a process known as “offline staking” to its mainnet. What are the benefits of offline staking? TL;DR Offline staking has grown since its launch to over half of all block rewards and the Network Weight has grown from 12 million to 22 million. Qtum previously only allowed participants to stake tokens online via a full node, but participation was limited by users who did not want to, or could not, run a full node. Network Weight provides an estimate of the total coins being staked for Qtum Proof-of-Stake and is related to the security of the blockchain and inversely-related to the staking returns. Posted by u/[deleted] 3 years ago. So, the value of the entire platform, in theory, is growing, and so will appreciate your share in it. It is a feature which lets users designate their funds to a super staker and gain a share of block rewards without transferring the assets; The main difference of cold staking from regular staking is the lack of need to run a full node; 0. Offline Staking is non-custodial: the delegation user keeps full control of their coins and private keys. What are the risks involved in offline staking? Difficulty (and Network Weight) typically adjust with each new block giving some variation. At the end of August, Qtum developers released a large-scale update that allowed all holders to stake and delegate QTUM coins. Frontier Mining has set up a Super Staker that is accepting delegations with a minimum of 100 Qtum for a 10% fee (0.4 Qtum of the 4 Qtum block reward). The good thing is that there is always a choice, and balance between the staker’s profitability and their fees can be found. Dec 10, 2020. The platform launches offline betting, with which the user can delegate the address of a non-staking wallet to a Superstaker – this is the name of validators in the Qtum network. The Qtum Offline Staking Stake-A-Thon returns with a new round of prizes. Like in most networks with a similar mechanism (DPoS, for example), users have to have some trust in the super staker they are going to stake with. 1. QTUM underwent a significant upgrade in August, which will bring about a process known as “offline staking” to its mainnet. By participating in cold staking, you are helping to secure the network. After delegation, the user can take their wallet offline, while the Super Stakers provide staking services and remain online 24/7. report. In this article, we will give you a rundown of this feature. Is there any plans to change how staking is rewarded? Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Average Total Staked23.13%-1.65%. At the end of August, Qtum developers released a large-scale update that allowed all holders to stake and delegate QTUM coins. Offline staking has grown since its launch to over half of all block rewards…. Network Weight is only used to calculate the expected time to a block reward in the function SuperStakerItemWidget::updateLogo() https://github.com/qtumproject/qtum/blob/b247f55da6ce6f818561ab171877dc7eb9ebe7a0/src/qt/superstakeritemwidget.cpp#L152, 6. These Super Stakers can run with a 0% fee and provide some safety enhancements to their users (since delegated address wallets are usually offline). Delegated UTXOs should have >500 confirmations; Amounts below the threshold the super staker defined will be ignored. Offline staking, a new way to make crypto work for you without losing ownership over your funds, emerged at the same time as DeFi truly gained a spotlight. hide. Qtum Staking. It occurred at block 680,000 on Friday, August 28th, 2020. The range is between 3–10%. Join our Affiliate program & Start earning! Offline staking manual https://github.com/qtumproject/documents/blob/master/en/OfflineStaking.md#offline-staking, 3. The platform launches offline betting, with which the user can delegate the address of a non-staking wallet to a Superstaker — this is the name of validators in the Qtum network. Offline staking on Qtum follows a major protocol upgrade at the end of August. The Stake-A-Thon is back with three months of prizes including more prizes for smaller wallets. To get the highest possible rewards, please make sure to stay online 24/7 and keep the wallet unlocked for staking only. Crypto Market Cap$2,111,471,977,9433.07%. Qtum QTUM future and past events. The profitability of any PoS coin depends highly on the amounts you’re holding. QTUM Staking Reward. The first block reward for offline staking was block 680,018 on August 28, 2020, and since then offline staking block rewards have grown as more coins were delegated to Super Stakers. A list of Super Staker is available at https://stake-a-thon-test.qtum.org/en/super-staker/list. Did you find this article informative? To attract more users, Qtum Foundation ran a stake-a-thon, offering additional gains to each participant, pools and super stakers. The coinstake is the 2nd transaction in every block which stakes UTXOs and pays the block reward composed of 1) newly-minted QTUM for the subsidy (currently 4.0 QTUM) and 2) any transaction fees and Gas for the block. Before that, running a full node for 24/7 was a requirement, pretty much like anywhere else. Which network metrics do the rewards depend on? While the yield farming and liquidity mining craze took DeFi over, QTUM introduced a more sustainable alternative. In the case of QTUM, the current reward is at 4 QTUM and you’re unable to receive it any other way besides staking. The chart below shows the percentage of offline staking block rewards (for delegated addresses) vs. solo stakers in one-week intervals from the launch of offline staking protocol. Check out our blog for more content like that, and subscribe to our social media for regular updates and news: we’re on Twitter, Facebook, Reddit and Telegram. Users can delegate their staking rights to nodes that provide “staking services” through smart contracts, to automatically receive block rewards while keeping an offline status themselves. This feature at the moment is a signature of QTUM network. The aim of Offline Staking is to help “increase participation in the staking process and democratize the network and make it more distributed and secure” - according to the Qtum Team. The most obvious perk of being able to stake offline is the lack of the need to run a full node at your machine 24/7. The new version of Qtum Core 0.19.1 supporting Offline Staking will hard fork on testnet at block 625,000, about June 29, 2020. Before that, running a full node for 24/7 was a requirement, pretty much like anywhere else. Can QTUM cryptocurrency be staked. The platform launches offline betting, with which the user can delegate the address of a non-staking wallet to a Superstaker – this is the name of validators in the Qtum network. "Qtum’s innovative offline staking mechanism allows users to earn a yield without locking up tokens for weeks at a time. There are no masternodes in this network. Qtum offline staking allows users to delegate the address for their coins to be staked by a Super Staker. Anyone can stake with QTUM without risking losing their own crypto, which does not always apply, even with banks. 2017 - 2021 QTUM CHAIN FOUNDATION © All rights reserved Terms and Conditions Terms and Conditions Therefore, it can even be done with an offline cold wallet. Offline staking protocol using delegated addresses makes it easier and safer to participate in Qtum Proof-of-Stake, this trend of increasing Network Weight may continue. You can retreat from the smart contract directly from your wallet at any time. With yield chasing and liquidity mining on decentralized finance (DeFi) platforms being the current crypto craze, Qtum (QTUM) is offering a more robust value earning mechanism via offline staking without any significant risks to user funds. Locked in Staking$146,523,582,3205.7%. For a Super Staker winning less than 100% of the block rewards, the size of QTUM needed for staking is a probability calculation. A Python script to calculate Network Weight from difficulty https://github.com/JB395/Network-Weight-from-Difficulty, Blockchain researcher, occasional blogger, Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Cold staking was launched in QTUM in August this year after a network upgrade. To give a numerical example, suppose there was an offline staking user Alice paying a 20% fee delegated to the staking services provider Bob, and there was an offline staking user Carol paying a 15% fee to staking services provider David, and that there were 0.1 QTUM in transaction fees and Gas for each of their block rewards. You designate a sum which will accrue interest, and need not do anything else. QTUM Offline staking is a new feature introduced this year. Read more…. Qtum’s innovative offline staking mechanism allows users to earn a yield without locking up tokens for weeks at a time. In addition to the Stake-A-Thon list of Super Stakers, there are some Super Stakers, including some large ones, which appear to only take delegations from their own delegated addresses. New comments cannot be posted and votes cannot be cast. Would love your thoughts, please comment. In return, all the block rewards this address generates is shared pro rata with the owners of the funds, minus a fee that constitutes the super staker’s revenue. But there are some less obvious offline staking benefits for users, too. With the new Qtum offline staking upgrade, Qtum users can now stake their cryptocurrency and earn rewards without transferring their funds online. Proof of Stake Dominance58.68%1.36%. Payouts are made with each mined block. Staking Market Cap$633,558,222,4187.47%. Check out, for more content like that, and subscribe to our social media for regular updates and news: we’re on. However, staking has its limitations: it is not always easily accessible, and always boils down to having to run a full node at all times. Offline staking has a few rules to follow: The delegation smart contract can easily be called with the QTUM wallet interface. For more information about Offline Staking, please refer to https://blog.qtum.org/qtum-improvement-proposal-25-the-road-to-offline-staking-part-2-a79cd62300aa Staking is a powerful tool for cryptocurrencies to become an alternative to traditional finance and banking. In QTUM Offline Staking enables the users can designate their funds to a super staker and earn rewards without transferring the assets. QTUM Offline staking is a new feature introduced this year. Unlike in Delegated Proof of Stake, users do not have to delegate to a select few nodes, because anyone can be a Super Staker.
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