Waves is a decentralized crypto platform, based on an improved authenticated dynamic dictionaries scalability approach being built on top of the Scorex framework. The total supply of Waves tokens is 100 million, which were issued on the genesis block and distributed to users that participated in the ICO and/or bounty campaign. This token supply does not increase. Instead, a combination of DPOS (Delegated Proof of Stake) and LPOS (Leased Proof of Stake) approaches will be implemented with the transaction fees being the reward for staking. Learn more about Waves
In a Leased Proof of Stake environment, users can choose to be a full node and use the mining power of other users to process transactions faster and more efficiency or to lease their mining power to a full node in order to receive transaction fees without having to run a full node. This system allows anyone to participate in the Waves network maintenance.
Waves can be mined through leasing on any computer or mobile device that has an internet browser since Waves provides a lite client solution that does not require "Miners", that are leasing their balance to store the whole Blockchain or to have the wallet running.
The leasing function is active and has been added to the lite client!
In the first part of the guide, we're going to show you how to lease your balance. (Windows)
We assume you already have a wallet address and are using the Waves Lite client. If you're not, you can install it here or use the browser version here. You'll need to have the Waves client installed in order to start leasing.
In order to lease your balance, you need a full node to lease to. You can choose between Wavesnode.net, Wavesnode.com, WavesGo, FountainPerpetua, BearWaves, WavesCommunityNode, WavesPool and LeasingWaves at the moment, although more pools will be available in the future.
Step 1: Open the Waves Client
Step 2: Enter your wallet seed/password and click "Log in"
Step 3: Go to the leasing tab by clicking the "L" icon
Step 4: Enter the Waves address you want to lease to. We're using the address from WavesGo node
Step 5: Enter the number of Waves tokens you want to lend
Step 6: Choose your fee which will determine the speed of the transaction
Step 7: Lastly, click "Lease"
Step 8: Check the details and click "Confirm"
You can see the transaction by scrolling down
(In this guide we refer to the staking or forging process as mining. Although there is no Proof of Work mining involved in the Waves Platform, mining is a common term used by the cryptocurrency community, one that is more known than forging or staking. Be aware, however, that when you're "mining" Waves, you will not receive newly issued coins. Instead, the profits come from transaction fees within the network)
The first thing we need to do is to install JRE 1.8 in order for Waves to function properly.
Step 1: Click here to download the Java SE Runtime Environment (JRE) 1.8
Step 2: Click "Accept License Agreement" and choose the option that best fits your operative system.
Step 3: Run the Installer
You must add a line ;JAVA_HOME/bin to your existing PATH environment variable to access the JRE from the command line. We are going to show you how to do so in Windows 10. If you're using another Operative System check here.
Step 4: Right click the "Computer" Icon and click "Properties".
Step 5: Choose "Advanced system settings"
Step 6: Click "Environment Variables"
Step 7: To add a line in the PATH variable, click "PATH" (1) and then click "Edit"
Step 8: Go to the end of the variable value and type "JAVA_HOME/bin" then click "OK"
Step 9: Click "OK" on all windows to save
Part 2 - Download and Configure Waves
Now we need to download the latest version of waves.jar and the required configuration file to any folder, for example C:/waves.
Step 1: Click here to see all the Waves releases and download the latest version of waves.jar (currently v0.6.4)
Step 2: You will also need to download the required configuration file for the mainnet which can be found here
Step 3: Open the waves-mainnet.conf file with advanced text editor. We are going to use notepad but advise you to use notepad++
Step 4: Configure the .conf file. This is the tricky part. It is advisable that you read the official github guide
In the end, your configuration file should look something like this:
If you want to use an existing Waves address from the Liteclient , all you need to do is check the backup window on the Liteclient and use the encoded seed on the seed = "" field, and your wallet password on the password = "" field in Wallet settings.
It is also very important that you encrypt your apikey on api-key-hash = "". To do so, simply run Waves with the default bind-address = "127.0.0.1" and with enable = yes, in Node's REST API settings. This ensures that you can connect to the network safely and encrypt your apikey
Download the blockchain. Then go to 127.0.0.1:6869 on your browser, where you will be able to use the RPC commands through Swagger.
Once this is done, you'll need to close the node and set the different apikey and apikeyhash on the config file, as well as the rpcAddress. Let's get started:
Step 1: Open a command line window (This can be done by searching cmd on Windows)
Step 2: Navigate to the folder where your waves.jar and the configuration file are stored. This is done with the "cd" command (change directory). Since we have the file on a folder called waves in the desktop, the command we'll use is: "cd C:\Users\kanopt\Desktop\waves"
Step 3: Now enter the command "java -jar waves.jar waves-mainnet.conf" to run Waves with the config you specifie
You'll now download the blockchain
Step 4: Once that the blockchain is fully downloaded (You can check through the blockexplorer), you'll be able to access Swagger to encrypt a apikey. Open your browser and go to "127.0.0.1:6869""
Step 5: Now click "Utils"
Step 6: then "/utils/hash/secure
Step 7: Enter your desired apikey (1) and click "Try it out" (2)
Step 8: Now take your apikey and its hash and put it in the configuration file in the "apiKeyHash": "". Simply replace "H6nsiifwYKYEx6YzYD7woP1XCn72RVvx6tC1zjjLXqsu" with the hash field
Step 9: Change the "rpcAddress": "127.0.0.1" field to your external IP
Step 10: Close the command line terminal that is downloading the blockchain and repeat Step 1, Step 2, and Step 3
Step 11: The blockchain will now download fully. When it completes, you will begin the staking process.
Remember, you need 10,000 Waves tokens to start mining and those tokens must be in your account for at least 1000 blocks! Good luck and let us know your results
Part 3 - UnLease your Waves
Step 1: To unlease your balance, click "Options" icon on the transaction history as seen below
Step 2: Choose "Cancel Leasing"
Step 3: Check the details and click "Confirm"
You can see the transaction by scrolling down