Everything you wanted to know about forging (but were afraid to ask): delegates, pools, and votes
ADAMANT uses the
Fair Delegate Proof-of-Stake consensus so that the process of gaining tokens differs from those of Bitcoin, Litecoin, DOGE and other Proof-of-Work currencies. If you have heard of that consensus before but thought it was complicated, this article can make it clear for you.
Forging: what to do?1. Install an ADAMANT node (cloud service, 5$ per month),
2. Register a delegate (3000 ADM fee),
3. Support the delegate (200 000 ADM fee).
Top 101Fair dPoS has a delegate ranking system, which depends on Vote Weight and Productivity. Only the first 101 delegates can forge and get a reward for supporting the network. Those delegates below the line cannot forge, even if their nodes function nonstop.
The Vote Weight equals the sum of ADM in the voters’ wallets.
Getting on the 101 list1. Maintain your node’s activity 24/7,
2. Get other users’ votes (they should have a sufficient amount of ADM).
If your node is down for half an hour or longer, you will not be on the list anymore. Additionally, you can lose your rank, if there are delegates with the greater Vote Weight.
Winning votesUnfortunately, people do not have much motivation to vote for delegates right now. They do not get any reward for voting unless they came to terms with a delegate. However, it is still highly profitable to join a pool, as it distributes all the earnings automatically.
Consequently, many delegates vote for themselves (if they have 200 000 ADM). As the participants exploit ADM volatility and thus, make a solid profit, this support fee is constantly growing.
If you do not have that much ADM, do not worry. You can launch your own pool and invite participants at any time. Doing so will provide you with only a part of the earnings. Nevertheless, you will need just 3000 ADM to register a delegate. Technically, pools and delegates are the same things. If you want to learn more, have a look at
this article.
Giving votesIf you want to vote for a pool or your delegate, open
ADAMANT PWA. Go the “Settings” section and find the “Vote for delegate” option. After that, you will have to look for a delegate or a pool in the list, tick the checkbox and push the “Vote” button. Mind that voting costs 50 ADM.
Consequently, you can convert ADM to fiat currency. Please mind that as soon as you run out of tokens, you will not get profit anymore.
Voting for more than just one pool or delegate will result in getting only a half of the potential profit, as your votes are distributed equally between everyone you give votes for. Consequently, joining two pools at once will not double your income.
Downvoting: pros and consDownvoting costs 50 ADM, too. This is a specific feature of the blockchain system: both of the actions are equal to it. Indeed, if you give a vote mistakenly or decide to leave a pool, you may want to take back your vote.
However, there is a way to save these tokens. You can move your ADM to a new wallet and use it to downvote.
Forging pool: your bread and butterEach payment schedule is unique. You can always check yours on a pool’s page. Moreover, we post an up-to-date pool catalog via ADAMANT social media every month.
Presently, the majority of payments and payroll management are accounted via a custom ADAMANT Tech Labs LP software. This software makes a transaction automatically, as soon as the minimum amount of earnings is gained. You can see this sum on a pool’s page. Additionally, a table below the pool’s page contains information on your deposit.
