How to Join A Sealing Pool in Nexty Blockchain
The hitchhiker’s guide to the NTY rush
On March 23, 2019, Thang Long hard fork gave Nexty users the ability to mine NTY by depositing 50,000 NTF into Nexty Governance. However, the amount of NTF required to do so is excessively high for one account to acquire all 50,000 NTF for a sealing node. Nexty then introduces a solution called Poolmaster. It is similar to pool mining in Bitcoin and Ethereum, but instead of sharing processing power over the network, users can stake their NTF token in the pool and receive NTY proportionally to the percentage of their stakes. The following steps will guide users to join a sealing pool in Nexty blockchain.
Join a Pool
- Login Nexty Governance here
If you don’t know how to login Nexty Governance with Metamask or Private Key, consider reading this article for more information.
2. Go to Pools, and find the pool that matches your preference
Search find your preferred sealing pool.
3. Click on your pool of choice, a detailed interface of the pool will appear
- Balance is the NTF available in your wallet.
- Deposited is the NTF deposited in Governance.
- compRate is the compensation rate for the pool’s owner whenever the pool successfully sealed a block.
- Status is the current state of the pool
- Holding Ntf Balance is the current amount of NTF available in the pool
- Holding Nty Balance is the current amount of NTY available in the pool
- Amount(NTF) is the amount you want to deposit into the pool, click Deposit to continue.
When the pool’s owner had set up the sealing node and joined Governance with the sufficient amount of NTF, the sealing process then begins.
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