With Waves-NG just around the corner and rewards set to increase to around 5% per year, it’s a great time to start mining WAVES and generating an income from your holdings.
Miners rewards are about to rise substantially! The terms for miners are changing, making running a node or leasing your balance even more profitable. Projections are that miners will be able to earn up to 5% annually on their balances — not taking into account expected increases in transaction volumes, or the price of WAVES.
Not only that, but the Waves platform has just successfully tested the NG consensus protocol, which promises vastly increased speeds and throughput on the blockchain. Once NG is released on mainnet in mid-December, we expect the network to be able to process around 6,000 transactions per minute — making it the fastest production blockchain in the world, with many more transaction fees to distribute.
Mine WAVES for profit
With the number of transactions rising steadily over the past few months, and about to take another step up as NG goes live, there are new opportunities for miners to generate an income from their holdings. All you need is 10,000 WAVES and a simple hosted server to run the client — you won’t need any specialist hardware. You can find guides on how to get set up at https://www.cryptocompare.com/mining/guides/how-to-mine-waves/. You’ll receive all of the transaction fees from the blocks you process, in WAVES and other assets, as well as rewards in the form of the Miners Reward Token (MRT). The total annual rewards earned by miners will increase by up to 5% in the beginning of 2018.
Lease your WAVES
If you don’t have 10,000 WAVES or don’t want to maintain a node, you can always lease your balance to a miner or mining pool. Simply click on the Leasing tab in the lite client and assign your balance to the address of the mining pool you want to use. By doing this, you support the network and get paid rewards, but won’t have to run a node yourself. Leased balances remain in the full control of the owner — they never leave your account — and you can cancel the lease and unlock the WAVES for your own use at any time, with just two clicks.
You can find more information and a list of mining pools at http://wavescommunity.com/leasing. Different pools pay out different proportions of their revenues, in WAVES and MRT, as well as sometimes their own assets. Lease or mine WAVES, secure the network, help process transactions and get paid!
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