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nuttynoah

Wallet and staking

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nuttynoah    0

Hi,

Simple question.

Does my wallet only stake when it is open and staking is enabled.  With some other coins once you enable staking you can close your wallet and it still stakes until you reopen your wallet. Then you have to reenable staking again.

Thanks

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Craig    108

Your wallet can only mint blocks when its open and running. However,  if you close your wallet, your coins will stake again when you re-open (and unlock for staking) and the amount received by the staking will account for the period you had the wallet closed. So by closing your wallet you lose no potential stake, but you are not actively helping to mint blocks.

The technical answer is that your stake is calculated by "coin age" which is todays timestamp, minus the last timestamp they were used as a staking input calculated at 5% per 365 days. So if you have 1000 NAV in your wallet and you turn it off for 3 months, the next time those coins stake (as long as you don't spend or move the coins in the mean time), you will receive 3 months worth of staking rewards.

Does that make sense?

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