Staking is not a trivial task, and it requires a lot of system resources. I say "a lot" here because even with today's most powerful mobile devices, their available resources in terms of CPU/Memory/Storage/Network, and most importantly battery, can't hold a candle to devices like Raspberry Pi's or Laptops/Desktops.
I don't think staking will be viable at all for now.
Topic: Staking on a mobile device? (Read 295 times)
Offline staking would be fantastic for users that have limited resources to support the actual blockchain itself. There are good reasons why PoS would be the way because it saves more energy compared to the usual mining concept. If I understood correctly, you are just going to install a wallet that is capable of that "Cold Staking" on your device and proceed with buying off the currencies then transfer them in your wallet? If that's always the case, the wealthiest wallet would still have the advantage, right?
Yes. I would simply "stake" cryptocurrencies on my phone, while serving as a full node in order to support the blockchain network as much as I can. Of course, bandwidth and storage limitations within mobile devices prevent this from becoming a reality. Which leaves me no choice but to choose the path of "cold staking" or "offline staking" to earn profit on the go. I have to say that it's not the same experience since I won't be strengthening the Blockchain whatsoever. In any PoS system, the rich will always become richer (which is something that has been criticized for long). Hopefully, this model will improve over time as other Blockchain projects perform a deep research about it. Ethereum is working heavily on PoS, in order to develop a robust consensus algorithm that's equitable yet secure for Blockchain networks.
Considering that mobile devices still lack the capabilities of a computer, it's very unlikely that we'll be able to store the entire blockchain data while staking in the process. That leaves us with DPoS cryptocurrencies, and some PoS coins that have cold staking capabilities. The list is growing with various attractive cryptocurrencies like StakeNet, Callisto Network, NEM, Steem, EOS, Lisk and ARK, which provides us the ability to stake without leaving our wallets open 24/7 (or even downloading the entire blockchain data). I'm currently staking Callisto Network (CLO), and StakeNet where I've obtained some profit in the process. I can easily watch my earnings grow within any smartphone or tablet. Yet, it would be nice to act as a full node while staking sometime in the future.
You can run most PoS coins wallets on a normal mobile device, its just you will max out at one or 3 with the limited hardware on a phone
seeing this thread, then thinking about the startup Crowetic is doing, wouldn't that thing be perfect for what your asking?
Qortal
i think the best thing would be to get a dedicated device like that
seeing this thread, then thinking about the startup Crowetic is doing, wouldn't that thing be perfect for what your asking?
Qortal
i think the best thing would be to get a dedicated device like that
rasp pi is too technical for some, a phone on the other hand is..
Really? I've staked NAV on a raspberry pi, and it was incredibly easy. It doesn't take much computing power to stake and I think the Pi is ideal for that.I've yet to hear of a coin that can be staked on a phone, but if it isn't possible yet I bet it will be in the future. Storage space for whatever blockchain on which you're staking could be a problem, but that could be managed.
I believe the Coinomi app stakes some coins for free.
I've never heard of that. I'll have to check out their website to see if that's true.
mobile mining with Electronuem isn't mining at all and that what I heard too. i don't know about its details but i can see how destructive it would be for a mobile phone.
Thanks for your reply. I'm aware of DPoS cryptocurrencies like TRON and EOS. However, their approach to decentralization is questionable. I'm more comfortable of staking ordinary PoS coins to support the entire blockchain network in the process. With DPoS cryptocurrencies, you can make a passive income out of them but you cannot support the blockchain network itself (unless you're elected as a delegate which is a tedious process). Of course, with the ever-growing blockchain data among several cryptocurrencies, it becomes harder to become a full node over time. If somehow, smartphone and tablet manufacturers would implement terabytes of storage capacity into their devices, then storing the whole blockchain while staking some coins would be a smooth process. Additionally, there needs to be unlimited bandwidth for people to be able to remain in sync with the blockchain network 24/7.
Things aside, I've found out that a few cryptocurrencies allow you to support their blockchain network by simply "staking" in an offline fashion. It's called "Cold Staking" or "Trustless Proof of Stake" available in cryptos such as StakeNet, and Callisto Network. I believe that it's much better staking this way than giving your votes to delegates in a DPoS blockchain just so they can earn more money out of you. In my opinion, true PoS cryptocurrencies are the way of the future.
Hopefully, someday we'll be able to store a PoS blockchain on our phone while getting paid in return. The process will be much more decentralized than DPoS or even offline staking. Just my thoughts
stakenet must be what you look for. there is WAVES DPoS which is like you said being selected as delegates but they do have a concept of leasing your coins to the delegates in return you profit from it.
Porting a crypto wallet to support ARM devices is not that difficult but is it going to be beneficial?
Not at all for mobile devices as even then the wallet needs to be running 24*7 in the background to keep its functions running, thus providing more decentralization to the network which in turn will consume resources and affecting the mobile phone in a longer run.
Why not just go beyond and think about staking with no device used? Like DPOS. I know two coins and have a considerable amount of them - ADAMANT and SEMUX which are DPOS and after just delegating vote, you can get your shares (staking reward) without the need to keep the wallet running
and some even have mobile wallets that you can use to track rewards on the go.
Not at all for mobile devices as even then the wallet needs to be running 24*7 in the background to keep its functions running, thus providing more decentralization to the network which in turn will consume resources and affecting the mobile phone in a longer run.
Why not just go beyond and think about staking with no device used? Like DPOS. I know two coins and have a considerable amount of them - ADAMANT and SEMUX which are DPOS and after just delegating vote, you can get your shares (staking reward) without the need to keep the wallet running
and some even have mobile wallets that you can use to track rewards on the go.
Thanks for your reply. I'm aware of DPoS cryptocurrencies like TRON and EOS. However, their approach to decentralization is questionable. I'm more comfortable of staking ordinary PoS coins to support the entire blockchain network in the process. With DPoS cryptocurrencies, you can make a passive income out of them but you cannot support the blockchain network itself (unless you're elected as a delegate which is a tedious process). Of course, with the ever-growing blockchain data among several cryptocurrencies, it becomes harder to become a full node over time. If somehow, smartphone and tablet manufacturers would implement terabytes of storage capacity into their devices, then storing the whole blockchain while staking some coins would be a smooth process. Additionally, there needs to be unlimited bandwidth for people to be able to remain in sync with the blockchain network 24/7.
Things aside, I've found out that a few cryptocurrencies allow you to support their blockchain network by simply "staking" in an offline fashion. It's called "Cold Staking" or "Trustless Proof of Stake" available in cryptos such as StakeNet, and Callisto Network. I believe that it's much better staking this way than giving your votes to delegates in a DPoS blockchain just so they can earn more money out of you. In my opinion, true PoS cryptocurrencies are the way of the future.
Hopefully, someday we'll be able to store a PoS blockchain on our phone while getting paid in return. The process will be much more decentralized than DPoS or even offline staking. Just my thoughts
stakenet must be what you look for. there is WAVES DPoS which is like you said being selected as delegates but they do have a concept of leasing your coins to the delegates in return you profit from it.
I believe the Coinomi app stakes some coins for free.
actually the idea to mine on mobile device is looking bad to me, because it hit the very important feature of mobile device - TIME. time when device could work, by abusing the battery..
so I see no point in this. no fun to charge your phone every 3-7 hours, instead of once per 24 hours.. and taking into account that almost no such coins exist, quite a majority of people think the same way..
so I see no point in this. no fun to charge your phone every 3-7 hours, instead of once per 24 hours.. and taking into account that almost no such coins exist, quite a majority of people think the same way..
keep it plugged (trickle charge), some phones specially with battery upgrades can stay on for 3 days.
it is not just having uninterruptible supply of power (battery), from wifi the phone can change to LTE, 4G, or 5G instantly if wifi goes out.
I know that there's been a few cryptocurrencies around (like Phoneum and Electroneum) which allow you to "mine" coins on your phone or tablet. This is great for the average person, as it allows them to secure the network (while getting paid in return) without much effort.
-snip-
FYI, Electroneum mobile miner doesn't even mine at all, it's just a micro-airdrop for their fanboys.-snip-
Phoneum however implements "cloud-based mining" exclusively for mobile
that I have no idea how it works.Currently, there's no "real" mobile mining (POW).
At least for POS, the only drawback for mobile is the storage capacity.
That's doable (other than SPV) if there's such a "pruned node" (<-from Bitcoin) version of POS Altcoins.
Electroneum mobile miner doesn't mine? For all this time i avoided Electroneum first because they screwed over investors by allowing miners to sell first and secondly because i heard their mobile miner causes phones to overheat and die.
If only Electroneum still had value today.
Im aware of this coins existence but it didnt able to poke out my interest to touch or engage with it. Even with other coins or projects that do tell about
mining or staking which i really dont care.
My answer geared towards bitcoin based coins :-
Mobile staking depends on the client (wallet) type and this has three approaches, namely Normal Staking, SPV Staking and Offline Staking.
Normal staking
Normal staking as you already know requires running a full node, this means you have a computer that has a complete and up to date validated copy of the bockchain. It takes coins based on maturity from the wallet and attempts to create and sign a block , we call this a coinstake. There is a general misconception that a wallet needs to be online 24/7 in order to stake. this is false. All a wallet needs really is mature coins. So with a currency that has a 24 hour maturity or maturity dependent on block count, your wallet could be offline 99% of the time, you only start it around the time of maturity, sync with the chain, stake , wait for confirms then tuen it off. Rinse and repeat every maturity period.
To stake normally on a mobile device the fastest approach is to adapt the core wallet to work on mobile devices. This is something i have already achieved See below scren shot of my test case Bitcointalkcoin :-
Pros
This is by far the fastest way to get it done right now.
Developers need only maintain one codebase that is used across all platforms
Standardization is easier due to familiar controls
Developments, updates and upgrades in Bitcoin and PoS coins in general can easily be applied and deployed across all
The wallet can be used as a full node
In the case of coins with masternodes, you can have mobile masternodes
Cons
If the chain grows too large, syncing via mobile networks can become tedious.
the interface was originally designed for desktops and requires mobification to be usable on mobile (touch) devices. Especially so with small screen devices such as phones.
SPV Staking
SPV staking is something I have been working to develop and basically involves enabling clients (wallets) to stake without the need to have a complete copy of the blockchain.
Essentially clients would request the necessary data from existing full nodes on the chain. At the moment i am working on enabling SPV staking in the typical core wallet as well as a dedicated light wallet.
Pros
Faster sync times
Far lower data overhead
Cons
Requires trusting other nodes
Other than the staked blocks, does not add to network stability
Offline Staking
Offline staking is still conceptual and i am not yet sure how to secure the network in that scenario while maintaining complete decentralization.
So to summarize, mobile staking is already a reality from where i stand. The next step is just making it wide spread. The real goal for me now is reliable SPV staking.
If anyone has questions, feel free to ask.
Mobile staking depends on the client (wallet) type and this has three approaches, namely Normal Staking, SPV Staking and Offline Staking.
Normal staking
Normal staking as you already know requires running a full node, this means you have a computer that has a complete and up to date validated copy of the bockchain. It takes coins based on maturity from the wallet and attempts to create and sign a block , we call this a coinstake. There is a general misconception that a wallet needs to be online 24/7 in order to stake. this is false. All a wallet needs really is mature coins. So with a currency that has a 24 hour maturity or maturity dependent on block count, your wallet could be offline 99% of the time, you only start it around the time of maturity, sync with the chain, stake , wait for confirms then tuen it off. Rinse and repeat every maturity period.
To stake normally on a mobile device the fastest approach is to adapt the core wallet to work on mobile devices. This is something i have already achieved See below scren shot of my test case Bitcointalkcoin :-
Pros
This is by far the fastest way to get it done right now.
Developers need only maintain one codebase that is used across all platforms
Standardization is easier due to familiar controls
Developments, updates and upgrades in Bitcoin and PoS coins in general can easily be applied and deployed across all
The wallet can be used as a full node
In the case of coins with masternodes, you can have mobile masternodes
Cons
If the chain grows too large, syncing via mobile networks can become tedious.
the interface was originally designed for desktops and requires mobification to be usable on mobile (touch) devices. Especially so with small screen devices such as phones.
SPV Staking
SPV staking is something I have been working to develop and basically involves enabling clients (wallets) to stake without the need to have a complete copy of the blockchain.
Essentially clients would request the necessary data from existing full nodes on the chain. At the moment i am working on enabling SPV staking in the typical core wallet as well as a dedicated light wallet.
Pros
Faster sync times
Far lower data overhead
Cons
Requires trusting other nodes
Other than the staked blocks, does not add to network stability
Offline Staking
Offline staking is still conceptual and i am not yet sure how to secure the network in that scenario while maintaining complete decentralization.
So to summarize, mobile staking is already a reality from where i stand. The next step is just making it wide spread. The real goal for me now is reliable SPV staking.
If anyone has questions, feel free to ask.
Hopefully, someday we'll be able to store a PoS blockchain on our phone while getting paid in return. The process will be much more decentralized than DPoS or even offline staking. Just my thoughts
Offline staking would be fantastic for users that have limited resources to support the actual blockchain itself. There are good reasons why PoS would be the way because it saves more energy compared to the usual mining concept. If I understood correctly, you are just going to install a wallet that is capable of that "Cold Staking" on your device and proceed with buying off the currencies then transfer them in your wallet? If that's always the case, the wealthiest wallet would still have the advantage, right? 
actually the idea to mine on mobile device is looking bad to me, because it hit the very important feature of mobile device - TIME. time when device could work, by abusing the battery..
so I see no point in this. no fun to charge your phone every 3-7 hours, instead of once per 24 hours.. and taking into account that almost no such coins exist, quite a majority of people think the same way..
so I see no point in this. no fun to charge your phone every 3-7 hours, instead of once per 24 hours.. and taking into account that almost no such coins exist, quite a majority of people think the same way..
I know that there's been a few cryptocurrencies around (like Phoneum and Electroneum) which allow you to "mine" coins on your phone or tablet. This is great for the average person, as it allows them to secure the network (while getting paid in return) without much effort.
-snip-
FYI, Electroneum mobile miner doesn't even mine at all, it's just a micro-airdrop for their fanboys.-snip-
Phoneum however implements "cloud-based mining" exclusively for mobile
that I have no idea how it works.Currently, there's no "real" mobile mining (POW).
At least for POS, the only drawback for mobile is the storage capacity.
That's doable (other than SPV) if there's such a "pruned node" (<-from Bitcoin) version of POS Altcoins.
Electroneum mobile miner doesn't mine? For all this time i avoided Electroneum first because they screwed over investors by allowing miners to sell first and secondly because i heard their mobile miner causes phones to overheat and die.
If only Electroneum still had value today.
Porting a crypto wallet to support ARM devices is not that difficult but is it going to be beneficial?
Not at all for mobile devices as even then the wallet needs to be running 24*7 in the background to keep its functions running, thus providing more decentralization to the network which in turn will consume resources and affecting the mobile phone in a longer run.
Why not just go beyond and think about staking with no device used? Like DPOS. I know two coins and have a considerable amount of them - ADAMANT and SEMUX which are DPOS and after just delegating vote, you can get your shares (staking reward) without the need to keep the wallet running
and some even have mobile wallets that you can use to track rewards on the go.
Not at all for mobile devices as even then the wallet needs to be running 24*7 in the background to keep its functions running, thus providing more decentralization to the network which in turn will consume resources and affecting the mobile phone in a longer run.
Why not just go beyond and think about staking with no device used? Like DPOS. I know two coins and have a considerable amount of them - ADAMANT and SEMUX which are DPOS and after just delegating vote, you can get your shares (staking reward) without the need to keep the wallet running
and some even have mobile wallets that you can use to track rewards on the go.
Thanks for your reply. I'm aware of DPoS cryptocurrencies like TRON and EOS. However, their approach to decentralization is questionable. I'm more comfortable of staking ordinary PoS coins to support the entire blockchain network in the process. With DPoS cryptocurrencies, you can make a passive income out of them but you cannot support the blockchain network itself (unless you're elected as a delegate which is a tedious process). Of course, with the ever-growing blockchain data among several cryptocurrencies, it becomes harder to become a full node over time. If somehow, smartphone and tablet manufacturers would implement terabytes of storage capacity into their devices, then storing the whole blockchain while staking some coins would be a smooth process. Additionally, there needs to be unlimited bandwidth for people to be able to remain in sync with the blockchain network 24/7.
Things aside, I've found out that a few cryptocurrencies allow you to support their blockchain network by simply "staking" in an offline fashion. It's called "Cold Staking" or "Trustless Proof of Stake" available in cryptos such as StakeNet, and Callisto Network. I believe that it's much better staking this way than giving your votes to delegates in a DPoS blockchain just so they can earn more money out of you. In my opinion, true PoS cryptocurrencies are the way of the future.
Hopefully, someday we'll be able to store a PoS blockchain on our phone while getting paid in return. The process will be much more decentralized than DPoS or even offline staking. Just my thoughts
I know that there's been a few cryptocurrencies around (like Phoneum and Electroneum) which allow you to "mine" coins on your phone or tablet. This is great for the average person, as it allows them to secure the network (while getting paid in return) without much effort.
-snip-
FYI, Electroneum mobile miner doesn't even mine at all, it's just a micro-airdrop for their fanboys.-snip-
Phoneum however implements "cloud-based mining" exclusively for mobile
that I have no idea how it works.Currently, there's no "real" mobile mining (POW).
At least for POS, the only drawback for mobile is the storage capacity.
That's doable (other than SPV) if there's such a "pruned node" (<-from Bitcoin) version of POS Altcoins.
good idea.
rasp pi is too technical for some, a phone on the other hand is..
- user friendly and built to run on battery, means it runs on battery for far longer than laptop (battery) and a desktop (ups) (if there is power outage) .
- room space friendly and very compact.
- even an old samsung s4 is cheap and powerful enough, can make use of a dedicated phone to your POS coins, you don't want to lose coins when you lose your phone to some misfortune.
if you are about to replace your old phone, technically that's a spare computer.
rasp pi is too technical for some, a phone on the other hand is..
- user friendly and built to run on battery, means it runs on battery for far longer than laptop (battery) and a desktop (ups) (if there is power outage) .
- room space friendly and very compact.
- even an old samsung s4 is cheap and powerful enough, can make use of a dedicated phone to your POS coins, you don't want to lose coins when you lose your phone to some misfortune.
if you are about to replace your old phone, technically that's a spare computer.
Porting a crypto wallet to support ARM devices is not that difficult but is it going to be beneficial?
Not at all for mobile devices as even then the wallet needs to be running 24*7 in the background to keep its functions running, thus providing more decentralization to the network which in turn will consume resources and affecting the mobile phone in a longer run.
Why not just go beyond and think about staking with no device used? Like DPOS. I know two coins and have a considerable amount of them - ADAMANT and SEMUX which are DPOS and after just delegating vote, you can get your shares (staking reward) without the need to keep the wallet running
and some even have mobile wallets that you can use to track rewards on the go.
Not at all for mobile devices as even then the wallet needs to be running 24*7 in the background to keep its functions running, thus providing more decentralization to the network which in turn will consume resources and affecting the mobile phone in a longer run.
Why not just go beyond and think about staking with no device used? Like DPOS. I know two coins and have a considerable amount of them - ADAMANT and SEMUX which are DPOS and after just delegating vote, you can get your shares (staking reward) without the need to keep the wallet running
and some even have mobile wallets that you can use to track rewards on the go.
I know that there's been a few cryptocurrencies around (like Phoneum and Electroneum) which allow you to "mine" coins on your phone or tablet. This is great for the average person, as it allows them to secure the network (while getting paid in return) without much effort. However, a cleaner solution would be PoS as it's not resource-intensive as PoW is. Mining cryptocurrencies on a phone, could greatly reduce its battery-life and lifespan as we know it. With PoS, that's not longer a concern.
As such, I'm curious to know if there's a PoS cryptocurrency which you can "stake" on a mobile device such as a phone or tablet? I know that it's largely impossible to store the whole Blockchain on a mobile device (due to bandwidth and storage limitations), but a SPV implementation would be the ideal solution for "staking" coins on the go. What are your suggestions/recommendations?
As such, I'm curious to know if there's a PoS cryptocurrency which you can "stake" on a mobile device such as a phone or tablet? I know that it's largely impossible to store the whole Blockchain on a mobile device (due to bandwidth and storage limitations), but a SPV implementation would be the ideal solution for "staking" coins on the go. What are your suggestions/recommendations?
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