Cold Staking Guide
Staking pools combine all of the coins in a pool together to have a increased chance of staking a block collectively, opposed to simply staking by yourself. The rewards are then divided among all users who are contributing their coins to the pool. Most pools charge a small fee to operate. That information is publicly available in the pool list or on their website.
1) Find a Ghost Cold Staking Pool to Join
Ghost is a decentralized project and therefore the staking pools are created by the community. Here is a list of the Ghost Pools that you can join here: Github Coldstaking Pool List. Look through the list, visit their websites, and decide the best pool for you. Staking pools are completely safe, but some may be more reliable than others. This is our recommend pool below:
https://myghost.org/ Public Key: gcs179wukwy95kewa6pex7f47w3xuzn3nywqdng394
2) How to Join a Pool
First, make sure that you have the Ghost Desktop Wallet downloaded. Then copy the public key address from the pool list or from the pools website. In your Ghost Wallet you will see the “Cold Staking” widget on the right hand side. Click on the + icon to delegate your Ghost coins to the staking pool. Paste in the public key for the cold staking pool you want to join, and click the “Enable cold staking” button.
3) Now restart the Ghost wallet.
Once it’s back open you will see “Activation 0%” on the sidebar widget. Click on the “Zap” button (red arrow). This will speed up the process and begin staking your coins. A popup will appear with some information and this process will take a small fee. Click the red button “Zap to 100%” and the sidebar progress should be close to 100% within a couple of minutes.
Congratulations! You’ve joined a staking pool.
4) Rewards are dispersed by the staking pool owner, which on average is every 100 blocks (about every 3 hours). When you first join a staking pool it will take 255 confirmations for your funds to be utilized in the pool (around 7–8 hours).
5) How to Leave a Pool
The process to leave a staking pool is very simple. Simply click the “Disable” button on the right hand side under “Cold Staking Node” and you will be removed from the pool. To join a new one follow the steps above again.
(Note) Joining a staking pool does not send your Ghost to the pool. Ghost coins will remain in your wallet. You can continue sending and receiving funds as normal.
What is Stake Bonus in a pool?
Stake bonus is a reallocation of block rewards. It rewards those that create or mine the block by giving them a little more than everyone else. Meaning, the more coins you have, the more beneficial stake bonus is to you.
Is Cold Staking Secure?
Cold staking allows you keep your funds 100% safe and stake at the same time. Cold Staking is a mechanism through which funds are delegated to a cold staking public key to stake the delegated inputs. The staking software is only allowed to sign transactions that perform the staking. Therefore, it is ensured that a breach will never result in users funds being stolen.
What is Hot Staking?
Hot staking is very similar to cold staking, except you are all alone by yourself. Staking rewards will always be 4 Ghost, since that is the staking reward for a block. This can be very inconsistent and depends greatly on the number of Ghost you have. Hot Staking requires you to keep your wallet software open and computer running constantly. This allows blocks to be generated and signed using the private-keys that hold said funds. However, this can be very risky. You are required to keep your wallet open and your computer connected to the internet. Anyone that gains access to your computer could also gain control over your funds.