📌 This guide is composed of the most common questions asked in the official Discord and forum of NKN.
NKN aims to create a new network where messages routes are generated in a unique way. Participating with a node in the network is allowing more bandwidth, more messages, more applications to be used all over the world in a new kind of way. NKN participate to a more open internet where information is available for the most.
What is "unique" to NKN mining?
NKN doesn't require the miners a huge amount of GPU or CPU to participate. Minimal requirements are so low that it's possible to run a full node on a raspberry Pi 0. The configuration is really easy and the software is stable.
Is it profitable to participate renting servers?
To simplify it: no.
It can be profitable for you regarding a combination of factors but it would be really hard for you to buy a Lamborghini out of your NKN mining activities. Still, participating the network will allow you to win some rewards that could make you some spare revenues to buy coffees (or tea).
Is there a revenue calculator? When will I get my rewards?
So far, no accurate one. You can estimate your revenues following different methodology but the reality of the reward system is very variable. The only truth is that, at some point, you will get a reward 🌟
How are attributed the rewards?
The reward system is for most of it a lottery system where every node in "PERSIST_FINISHED" mode can win. Still, there's a few factors helping to determine witch node is "winning" the block such as its latency in the network, the amount of message it's relaying, ... but those factors are impossible to control for a node operator.
The basic math regarding the rewarding system is the following:
- NKN chain is working at the speed of one block every 20 secs, 4320 blocks per day approx.
- Let's consider approx. 70,000 nodes in the network
- 70000/4320 = 16,2, meaning every 16 days your node might get a mining reward of approx. 11 NKN
This math is not based on fact but on theory. In the real world the "luck factor" is really important.
To be sure to participate the lottery your node must be:
- Connected to the network in PERSIST_FINISHED mode
- Have neighbors with low latency ping
- Relaying messages
Other parameters are, for most, fantasy.
How can I participate?
There is multiple ways for you to participate the network. You can either host at home on a raspberry Pi or any low consumption computer, use a free Virtual Private Server (VPS) coupon in one of the multiples provider in the world.
Can I participate if a have a dynamic IP at home?
Yes, NKN doesn't require the node to have a static IP. Still, we recommend you to use a DynDNS host to monitor your host.
What are the basic requirements to start?
- A computer with a good internet connection with an IPv4 address, online if possible 24/24 - 7/7
- As of March 2021 NKN require a "generation id fee" of 10 NKN mainnet tokens in order to protect the network. There is different way of getting those tokens
- 3. A personal NKN mainnet wallet, you can create yours at https://wallet.nkn.org/
Why does I need a personal wallet if my node have a wallet?
By default, token mined by your node will be sent to the wallet your node is using, which is NOT as safe as you might think.
The recommended way is to use another cold wallet (that is saved and backed up well) to store your token.
You can use your code wallet address as BeneficiaryAddr in config.json such that token mined by your node will be sent directly to that beneficiary address.
This is safer and more convenient because:
- even if your node is hacked, or your node wallet is leaked, you will not lose any token;
- if you run multiple nodes, it's the only way that all their mining rewards will go to the same address.
Are my rewards forwarded from my node wallet to my beneficiary wallet?
No The use of a beneficiary address will not make your rewards being forwarded from a wallet to another. The beneficiary address defined in your configuration will directly receive the fund from the network.