To learn more about the wallet you can watch this staking and wallet tutorial here:
What is staking ?
- NLC2 uses a Proof of Stake algorithm for transmitting the blockchain
- By staking your NLC2 Coins you become a node on the network that transmits the blockchain
- The blockchain is the open ledger that every wallet has and uses to confirm transactions
- Every node or wallet has the same blockchain and the nodes all talk to each other
Why should you stake your NLC2 coins?
- By staking you get 4% extra coins per year
- The blockchain creates these new coins and sends them to your wallet
How to Stake Your Coins
- Download the Wallet - Windows, Mac or Linux
- Open the wallet file and then let the wallet sync
and download the blockchain - Syncing can take a few hours, be patient
- Transfer NLC2 to your wallet address
- There is no minimum number of coins needed to stake
- Encrypt your wallet and write down the password
- Backup your wallet files to another USB or Hard drive
- Unlock your wallet for staking
- Mouse over the lightning symbol to check the staking status
- Your computer and wallet must be running to stake and receive coins
Staking Time
- It takes a few hours for coins to mature before they start staking
- New wallets with a small amount of NLC2 will usually take a few days before the first reward is received
- Be patient and wait a few days for your first rewards to come
- Your staking weight increases over time until you get a reward and then the weight drops back down after you receive the reward
- The more NLC2 you have the faster you will receive new coins
- Smaller wallets of NLC2 will receive new staked coins less frequently than larger wallets
- But even a smaller amount of NLC2 will receive 4% per year
- 50,000 Coins - 50000 x 0.04 / 12 = 166 Coins per Month
- Or 5 Coins per day average
Staking Info
- There is no minimum number of coins needed to stake
- Wallet can run on laptops or desktops
- Wallet only needs small amount of CPU required to run
- Your computer and wallet must be running to stake and receive coins
- Make sure computer and wallet is online as much as possible
- Set NolimitCoin Wallet to Start on system login
- You have to unlock wallet again for staking after wallet reopens
- Backup your wallet.dat file and your wallet files
Wallet Files Location
- You should backup your wallet files to multiple USB Drives
or Hard drives just to be safe - For Windows Users your Wallet files are located here:
- C:\Users\Username\AppData\Roaming\NoLimitCoin2
- For Mac Users your Wallet files are located here:
- Library - Application Support - NoLimitCoin2
- Library may be hidden - Finder Menu - GO TO - Press ALT - Click on: Library
- Copy the Whole NoLimitCoin2 Folder to multiple USB Drives or Hard Drives and store them safely
Orphaned Transactions
- Sometimes you will see a generated but not accepted transaction
-
Any transaction in an orphaned block will not be seen by the main network. ie, the transaction never happened to anyone else and when your wallet syncs back with the main network, it too will not see the transaction since it does not exist on that network.
So as far as the network is concerned, those tokens were never sent, mined or spent. Your stake weight should not be affected and you will receive new staking rewards later.
NLC2 Network
- View Your Wallet and Transactions in the explorer
- Proof of Stake transactions will show input address as PoS
- Maximum inflation rate is 4%, but we estimate that less
than 50% of all the coins will be staked over time - Estimated yearly inflation for all NLC2 coins is therefore around 2%
- 2% yearly inflation for new coin production is very conservative and safe for the network
Comments
0 comments
Please sign in to leave a comment.