Posts Tagged ‘DCR

decred-staking-pool-stakeminers

The main Decred (DCR) staking pool hasn’t been accepting new registrations for quite a while, but now more staking pools are expected to soon be available. The first from the new wave of DCR staking pools is from Stakeminer that is already running on the mainnet with a few more still on the testnet that should soon also become available of the main Decred network. The Decred Stake Pool from Stakeminer is currently running up with a 7.5% fee, but it will probably get lower once more pools are available and DCR holders have more options for staking without having to run their wallet 24/7 locally. So you can check out the new Decred staking pool that is taking new registrations now and stay tuned for more pools that should be coming online pretty soon.

Update: There are now two more DCR staking pools online now, http://stakepool.eu and https://dcr.stakepool.net both running with a 7% 5% fee. There is also yet another staking pool available now also with the lower 5% fee – http://pool.d3c.red and now there is yet another one online with 5% fee – https://stakepool.dcrstats.com.

To check out the newly launched Decred (DCR) staking pool from stakeminer…

decred-dcr-mining-calculator

Mining calculators help miners to easily calculate what will be the profit with their available hashrate for a given period taking into account thing such as network difficulty and price of a given crypto coin. There is an easy to use and simple Decred mining calculator available that can give you an idea on how much coins you can expect to mine in a day, month and year with your hashrate. It can be quite helpful for people mining with GPUs to consider what currency is more profitable to mine at the moment and how much they may be able to earn mining Decred. Most people are well aware that at the moment Ethereum (ETH) is probably the most profitable to mine with GPUs, however Decred is not that far behind and you can easily compare your expected profit with Decred if you are currently mining Ethereum.

There are some GPUs that do not meet the minimum requirements that Ethereum has such as the availability of at least 2 GB of video memory, or the performance may not be very good for mining ETH with the specific video card. Such is the case with Nvidia GeForce GTX 750 Ti, a popular lower-end Nvidia-bssed GPU for mining that does not do very well with Ethereum, but can do quite good with Decred as a good alternative. So our advice is to give Decred a go, especially if you have some GPUs that are not OK for Ethereum mining for various reasons. Do note however that Decred is heavier on GPU and has a higher power usage compared to Ethereum, so the power cost is also a bit higher.

In the example screenshot above we see that a single GTX 970 GPU doing around 1300 MHS mining Decred should give you around 1.87 DCR per day or about $4.6189 USD equivalent with the current conditions. For the sake of comparison running the numbers through an Ethereum mining calculator for that same GTX 970 GPU we get 0.476424 ETH or about $5.13 USD per day, so the difference in terms of profitability is not that big as we have already explained.

To check your expected DCR mining profit with the Decred Mining Calculator…

decred-stake-pool-mainnet

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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