Today, we’ll get deeper into building staking pools as we’ll ultimately go through the syncing process of a stake pool. We already have a Cardano staking pool set up and functioning well so we’ll take you through what we do to keep our server synced. If you haven’t already, do check out our previous article on how to build a Cardano stake pool, where we explain all about its setup process. Taking a step up, we’ll now get into how syncing our stake pool works.
Fast forward to the present, we now have our server all stoop up with the producer node and the relay node. The next step in the process is that these must be able to sync the blockchain. So, it needs to be able to contain the entire blockchain, which will hold on disk but then be able to hold into memory, which grants it the ability to move through the blockchain fast.
From what we did the days before, we have our server stood up, we have one producer node, and two publicly accessible nodes on two different public IP addresses. After we successfully initiated the syncing process yesterday, we had an ETA of two to three days. However, it’s 91% synced this morning so it should finish way sooner that we expected.
Now, we still need to get our wallet and some other pieces set up, and then we will stake the Ada, or Cardano, we have. We’ll start with around 750 Ada, and then another 750 Ada will be staked right behind the first batch of the Cardano currency.
Then, once our stake pool is live and functioning, it will show up in the blockchain explorer. This is basically where people can go and decide where they’ll stake their Ada claims with. A lot of this is based on how much you’re pledging and how much claim you want to take on those pledges.
A lot of people look for a low pledge amount. This means that we’ll be taking less of that amount by running the staking pool. So this is how you become competitive against other live and existing stake pools. In simple words, the less you take the less you earn. But the less you take, the more likely you are to get people to stake with you, which ultimately leads to more earnings. This is pretty much a tough balance but it’s the right way of surviving and winning the competition.
As we have our stake pool live and running, we’d like to invite you to stake your Ada with us. This helps you, us, and allows all parties to give back to the Cardano network.
Thank you for sticking with me to the very end. We hope this has been valuable information to your for your journey to skyrocketing with Cardano Ada. And as always, make sure to keep your kids protected with CleanRouter and CleanPhone so that you have the ultimate parental controls with how your kids use their phone 🙂
If you’d like to learn more about the same, kindly check out the video below: