500 Confirmation Staking Question
qtumbob last edited by qtumbob
After staking a block, the QTUM-qt wallet basically gives you a holiday from staking for a duration of 500 confirmations.
I am wondering what can I do during this period of time?
Can I shut down my qt wallet?
Can I disable my internet access?
Can I shut down my computer?
I believe that while waiting for 500 confirmations on the QTUM blockchain, the wallet is basically idle except for the regular downloading of new transactions on the ledger.
I am thinking that upon staking a block, it is OK to close the wallet without waiting for a single confirmation and restarting the wallet before the 500th confirmation. This way I won't miss out on any valuable "staking" time.
My reason for this is that right now it takes almost an entire day to receive 500 confirmations and I would like to limit unnecessary wastage of electricity if possible.
Can anyone please confirm if this is a good idea?
qtumbob last edited by
OK, after a few days of staking, I can answer my own OP :)
All of my above assumptions are correct. It is perfectly OK to:
Shut down my qt wallet...........yes
Disable my internet access....yes
Shut down my computer.........yes
bago last edited by bago
Would the Qtum Chain come to an halt if there are less then 500 stakers since there is a confirmation time of 500 blocks?
out of curiosity i wonder what would happen on the day qtum sees less then 500 staking addresses.. how will qtum ensure there are always enough stakers?
does qtum run staking nodes themselfs with multiple addresses to ensure this would not happen?
jb395 last edited by
Hey bago, the block reward winning wallet will stake one or more unspent transactions (UTXOs), it does not stake the entire balance of the wallet. If the staking wallets are sensibly setup they will be filled with transactions in the 250 - 400 QTUM range so that amount would be staked for 500 blocks, while the remaining balance of the wallet would continue to stake and potentially win block rewards. In the early days of Mainnet there were only about 35 active wallets, and because they would only stake a fraction of their balance with each block reward, things worked fine.