An Ultimate Guide on How Delegated Staking Works on Cartesi

Staking has undoubtedly become a fair means of mining and investing in cryptocurrencies. It’s the most outstanding Proof of Work alternative because it creates a more equitable process in which anybody may participate in transaction processing and earn incentives.

To participate in a Proof of Stake network, a participant must buy and stake a particular amount of the network’s cryptocurrency. In a Proof of Stake blockchain, network users are then compensated according to their stake in the network and the amount of work they complete within the blockchain. However, PoS is faced with challenges such as high network fee, scalability, etc., on the network making it difficult for a fair public participation. Cartesi seeks to address these shortcomings.

Cartesi introduced its Proof of Stake (PoS) method in December 2020 to help Noether’s validator network get off the ground. The system has been reliable since then, allowing for substantial organic expansion. Today, the network can boost hundreds of million CTSI (Cartesi native token) staked, over 350 nodes in operation, and block producers awarded with millions of CTSI as a reward.

With the announced availability of Noether’s Staking Delegation on their mainnet, the layer-2 solution, an off-chain decentralized computing platform is committed to ensure that the public can access and partake in staking without worrying over high network fees. Cartesi is solving blockchain scalability and excessive fees by utilizing optimistic roll-ups, virtual machines, and side-chains, as well as changing the way developers build blockchain apps.

They maintained that the launch was meticulously organized to guarantee that holders of its token, CTSI, experience the least amount of risk possible over the three test phases, which included the final beta phase on mainnet. They also worked with Everstake, Blockscope, and HashQuark, that were in charge of creating and managing pools, each with a cap of 3.6 million CTSI tokens. The full release has since happened and there is no longer a limit to who can create pools or any cap imposed.

The Cartesi Protocol

By providing a Linux runtime atmosphere, Cartesi became the first software-based validated off-chain computing solution that gives developers a comprehensive variety of software that has matured over the preceding thirty years. As a result, Cartesi solves many blockchain infrastructure issues while also enabling a new wave of DApps that were previously unimaginable. Cartesi is well equipped with incredible multi-disciplinary personnel that was carefully selected by scholars and evaluated by Cartesi’s advisers. Users can begin to partake in Delegated Staking, which is currently on mainnet by acquiring CTSI through one of the many leading exchanges it is supported on, going to https://explorer.cartesi.io and choosing a pool to delegate to.

With the launch of Cartesi Staking Delegation, anyone or any firm can safely and securely build and manage staking pools without any limits or caps. As part of their goal right from time, the Cartesi Foundation has made it a priority to assist all new pools that join the network by ensuring reasonable block creation and authorizing its tokens until the pools are competitive.

Unarguably, the Cartesi’s staking delegation on mainnet is an incredible development for CTSI token holders, who can hold on to the project token while simultaneously supporting and helping to build a stable footing for Noether. Noether is Cartesi’s side-chain specialized for transitory data, providing decentralized applications with low-cost data availability.

How to Stake CTSI in a Pool

There are few steps to follow if you are Interested in staking your CTSI in a pool to support the network. To get started, please follow the instructions outlined below.

• You must first have Metamask installed on your device if you don’t have it yet.
• CTSI is required in your Metamask wallet and some amount of ETH for transactions.
• Visit Cartesi page through https://explorer.cartesi.io and select “Connect to Wallet” from the drop-down menu.
• Glide to the top menu and select “Pools.”
• Go to the pool page by selecting one of the pools using the “Stake” button on the right of each row (under the action column).
• The first stage in staking is to decide on an allowance for that pool. The maximum quantity of tokens that the pool smart contract can transfer out of your wallet is called the allowance. You can adjust it to any figure you wish, including the amount in your wallet, less or more. Submit the ethereum transaction through Metamask by clicking “Edit” in the allowance field. Following the confirmation of the transaction.
• Now it’s time to add your tokens to the pool. You are only restricted by your wallet balance and the allowance value you just specified when depositing money. Before you can stake those tokens, they must be deposited for six hours (for security reasons). Select “deposit” from the drop-down menu, input the amount, then confirm the transaction with Metamask.
• You should be able to finally stake your tokens after six hours. Return to the pool page and click “Stake,” then enter the desired amount and confirm the transaction.

You will now receive a part of the reward for each block the pool produces, minus the pool’s commission. The incentives are compounded automatically.

Conclusion

In Cartesi delegated staking, holders need not need to install and manage node software or rely on custodial services. Also, smart contracts protect the user’s data, which cannot be lost or mismanaged by node runners or pools. Users benefit from a native compounding feature with Cartesi’s staking delegation, which automatically re-stakes all token rewards. Staking your CTSI is simple, and it compensates you for assisting in the network’s security and the launch/bootstrapping of Noether, Cartesi’s data availability sidechain.

For more information about the Cartesi project, you can check out the links below:

Cartesi Website: https://cartesi.io

Whitepaper: https://cartesi.io/cartesi_whitepaper.pdf

Twitter: https://twitter.com/cartesiproject

Explorer: https://explorer.cartesi.io

Blog: https://medium.com/cartesi

Telegram Community: https://t.me/CartesiProject

Telegram Announcements: https://t.me/cartesiannouncements

Discord (Development Community): https://discordapp.com/invite/Pt2NrnS

GitHub: https://github.com/cartesi

Reddit: https://www.reddit.com/r/cartesi/

Article Written by Helen IMAH — Cartesi Nigeria Ambassador