Staking STRAT

How do I stake?

Stratis QT-Wallet

As things stand, you can stake using the Stratis QT-Wallet. You can find a set-up guide for Windows and Mac OS here. You can also find a guide for setting up the QT-Wallet for staking on a Raspberry Pi here. This may also help for setting up the wallet for staking on Linux.

Can I stake on a Raspberry Pi?

Yes. You can find a guide for setting up the QT-Wallet for staking on a Raspberry Pi here. You can also find a guide to staking STRAT using Stratis Core on the Raspberry Pi here.

What is coin maturity and how long do I have to wait before I can stake my STRAT?

A coin can be used to stake once it has reached coin maturity. When you send STRAT to your staking wallet, you need to wait until the transaction has received enough confirmations before the STRAT can participate in staking. This means that the transaction needs to be included in a certain number of blocks before the network will recognise its contribution to your network weight. Similarly, a newly staked STRAT will need to mature before it can contribute to staking.

For STRAT, coin maturity comes after 500 confirmations. At a block time of around 64 seconds, that means a maturing time of roughly 8hrs 45 minutes.

How long do I have to wait before I can spend staked STRAT?

Newly staked STRAT requires 50 confirmations before it is spendable. This means that the newly staked STRAT needs to be included in 50 blocks before it can be sent to another address, i.e. spent. Block times are 64 seconds on average, which means that it will take roughly 54 minutes before newly staked STRAT can be spent.

How big is the Stratis blockchain, where is it stored and how long does it take to Sync?

The blockchain is currently about 1.6 gigabytes in size. This will get larger as time goes by. On a Windows OS it’ll be saved in %APPDATA%, on a Mac OS it’ll be in the Library in Application Support.

What is the expected income and is there a staking calculator?

The annual income from staking is roughly 1.5% – 2% of what you are staking if you stake 24/7. There is a staking calculator here, but it gives slightly low average estimates. Any estimate of the time it takes to stake successfully is an average estimate. If you are expecting to stake 1 STRAT every 10 days, you may have times when you stake twice a week, and you may have times when you stake once a month. On average, it should come to 1.5% a year when staking 24/7.

The full calculation for the annual staking income is as follows:

Annual income (%) = 100 * (Number of newly minted STRAT per year) / (number of STRAT staking)

Number of minted STRAT per year = number of new blocks per year = (seconds in a year) / (block time in seconds) = 31,557,600 / 64 = 493,087.5

Number of STRAT staking can be found here. At time of writing is around 27,000,000 STRAT

Thus, annual income (%) = 100 * 493,087.5 / 27,000,000 ~= 1.8%

Why am I not receiving STRAT as often as I would expect?

Staking is random so the expected time to successfully stake is an average estimate. Over a long enough time frame the average time to stake should be reasonably accurate. Over shorter time frames it could be quite inaccurate. At times you could be waiting three or four times your expected time to stake and at others you could be successfully staking three or four times more STRAT than you expect.

What are orphans and what can I do to try to reduce the number of orphaned blocks I get?

An orphan occurs when two staking nodes forge a new block at almost exactly the same time. If the block information is not passed on quickly enough, then some other staking wallet may receive the staking reward for that block, and you will receive nothing (which is what we call the orphan). There are some steps you can take to try to reduce the number of orphaned blocks:

    • Make sure you have 16 connections. If you have fewer than 3 connections your chance of receiving orphans may be increased.
    • If your computer is running very slow it can increase the number of orphans you receive. The more coins you collect the more important it is to get things running efficiently so that blocks get solved and reported on the network as soon as possible.
    • Older wallets with many transactions may start to slow down. By sending your coins to a new address and importing that address into your wallet you can “start afresh” and should receive fewer orphaned blocks.

Can I cold stake my STRAT?

Not at this point in time it is not possible to cold stake your STRAT, however it will be possible quite soon. Cold staking is staking while your spendable balance is offline.

Stratis Group Ltd are building a solution into Stratis Core which will require the majority of the staking to be done through the Stratis Core wallet before it can be initialised.

Can I stake two instances of the same wallet at the same time?

Yes, you can stake with two instances of the same wallet at the same time. However, there are caveats. If you use the wallets for more than just staking and choose to generate a new address by generating a new key pair in one of the wallets, then the other wallet will not have a copy of that key pair. Besides this, you are exposing two machines to potential attackers as a way of getting to your hot wallet instead of just one. As is always the case in crypto, you are responsible for the safety of your own money, so it is vitally important you are careful with your security. So long as you bear these caveats in mind, it is possible to stake in this way.