Coldstake - Setup A Pool

In this guide we will show how to setup a coldstake pool

Charging fees
Right now there is no automated mechanism to charge fees from users for using the pool, each pool operator will have to find a way to charge for providing the service of staking for the user. Either by paying in advance for a year of staking or any other way of subsidising the pool

Security concerns
Staking pools tend to centralize the mining processes by delegating authority to create blocks to a smaller number of users
For this reason it is encouraged that a network will have many staking pools to choose from with competitive fees

1 - Run a node in coldstake pool mode

To setup a pool we have to run a fullnode on the network we want to provide coldstake pool services

This is done by running a fullnode with the additional parameter -enforceStakingFlag=1
When the enforceStakingFlag flag is set an additional menu will appear on the nodes dashboard

The enforceStakingFlag will only allow only certain addresses to stake
To allow an address to stake the pool operator needs to set that in the dashboard

Here is an example of the entire command

1	`dotnet run --chain=CITY -enforceStakingFlag=1`

2 - Create the pool wallet

Create a wallet and call it coldstake-pool

Notice the additional coldstake pool menu on the left

Enable coldstaking on the coldstake-pool wallet

You should now see the coldstake-pool in the coldstake menu

3 - Find your pool coldstake address

The pool can assign a new address for each user or have a single address that all users can just use to setup coldstaking

For ease of use we recommend using just one address to represent the pool, then such an address can be displayed on a static website and users won't need the extra step of asking the pool operator for a new address

All the addresses that the pool uses are hot addresses

Go on the Cold Staking menu and click on the coldstake-pool then click on the Hot account

Then click on Receive

Then click on UnUsed, this is your coldstake hot address

If you want to assign a new address per user just click on generate a new address
Note a new address will be automatically generated when the previous address has coins in it

Security note

A possible attack on a staking pool node is to send many small dust trx to it,  
this is even worse if the hot address is public and known     
however the node will normally ignore dust transactions when staking  

4 - Users will now setup coldstake transactions

When users start to setup their wallet to coldstake with your pool it will look like this

Go on the Cold Stake menu and click on coldstake-pool wallet details

Select the Hot account

Notice the hot account history
Here you will also see all the staked coins

3 - Enabling addresses to coldstake

Each address that is used for staking needs to be explicitly enabled

Got to the Cold Staking Pool dashboard menu to observe the addresses that can coldstake

Click on the coldstake-pool wallet

You will notice the hot address of the pool and the cold address the user controls

Here is an exmaple with another user that sent coins to the pool

If you click on the view button you will get more details about the address

Days to expiry
On each address you can specify the number of days it can stake until that address expires
An address that expired will not participate in the pools staking process

It will then look like this on the address list

Notice the active balance will show the amount of coins that are not expired

4 - Starting the staking job

To start the pool to stake go to the Staking menu

Click on the coldstake-pool wallet and then click on Start Staking

It will then look similar to this

Once the node will start staking you will see entries in the Hot account history
Go to Cold Staking -> coldstake-pool -> Hot account

Last update: 2022-08-23