MINING GUIDE POS


Emercoin Proof-of-Stake Guide


This guide covers how to mine Proof-of-Stake (POS) with an encrypted wallet on your own computer. Note that it's also possible to earn POS rewards by holding your Emercoin with a 3rd party wallet provider such as mintr.org.

Before we begin, lets understand a few things about POS with Emercoin:

  • EMC blocks are mined approx. every 10 minutes.
  • The chance of mining a block with POS is related to the amount of EMC you hold.
  • Coins must sit unspent in the EMC address for 30 days before being eligible for staking.
  • To mine a block with POS, the wallet must be unlocked for minting as described below.
  • Staking correctly will generate approx. 6% interest p.a.

Follow these steps to mine POS blocks using the GUI:

  1. Encrypt your wallet.

    To encrypt your wallet, choose 'Encrypt Wallet' from the Settings menu and choose a strong password that you won't forget.



    After your wallet is encrypted, a locked padlock icon appears at the bottom of the window.

  2. Unlock your wallet in 'Mint only mode'.

    Click the padlock icon at the bottom of the window, check the 'Mint only mode' checkbox and enter your password.



    When the wallet is unlocked, the padlock icon at the bottom of the window will appear unlocked.



    While the wallet is in 'Mint only mode', you can safely leave it open without anyone being able to send funds out.
  3. Leave your wallet unlocked and running in 'Mint only mode'.

    Coins can only stake while your wallet is open, and if they sit untouched in the EMC address for 30 days. When coins are close to staking, you will see them added to the 'Stake' balance.



    When coins have staked successfully, you will see new transaction and new coins added to your balance.

You could unlock your wallet for minting for a few hours each month, however in the long term it is better to leave the wallet running permanently to increase your chances of minting POS blocks and to support the Emercoin network.

Checking your minting statistics


  1. Visit the Emercoin blockchain explorer located at: emercoin.mintr.org.
  2. Search for your EMC address(es) that are currently staking.
  3. Run the staking calculator tool (the purple leaf icon, ) for your EMC addresss.
  4. You will see the results on your minting %, coin age, and many other variables.