The Official Decred (DCR) Stake Pool is Now Live

7 Mar


We have mentioned when the test stake pool for Decred (DCR) was released about two weeks ago and now the development team has announced that the staking pool is live on the mainnet. The stake pool allows you to purchase tickets and have the pool redeem and vote on your behalf without having to send actual coins to the pool or having your local wallet online and unlocked 24/7 for the Decred staking. Do note though that in both cases your staking coins used for ticket purchase remain locked. The development team also promises that the source code of the staking pool will be released to the public in a week from now, meaning that we are probably going to see some more alternative Decred staking pools becoming available soon after that.

Staking in Decred works in a similar way to a lottery, you purchase tickets with the available DCR coins you have or the amount you want to use. Ticket price started at 2 DCR and it changes based on users staking, though it is currently pretty high priced at about 14 DCR, so you might want to carefully choose the timing when to purchase tickets. Then you need wait for your ticket to be randomly chosen to validate a block or to be taken out of the lottery in 142 days if you do not win anything. The coins you use for staking (purchasing tickets for the lottery) will be locked until they are either chosen and you get your staking reward or 142 days pass . According to the information available the lottery lasts about 28 days average and the chance of a ticket not being selected in 142 days are less than 1%, but since it is all luck based your results may vary.

Do note that the staking pool is just making it easy for you to participate in the PoS phase of Decred mining, the staking rewards in the pool remain personal, so every participant is staking just like he would using a local wallet (you still need to have a local wallet to authorize the pool to vote and stake on your behalf). We are yet to see Decred staking pool becoming available where participants will play to win together and the rewards will be shared equally between all participants, so this will probably be the next step in DCR pool staking that we might be seeing further down the road.

For more information and to try the official Decred Stake Pool now running on the main network…

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