Create a staking pool from 0

Hi everyone,
I lost my job during this pandemic and have some free time. I started investing in Crypto, but I am currently all in, and a bit tired of watching those terrible youtube FOMO videos and thought it could be a good exercise to set up a Cardano node.
Is there any guide on how to do so? Like “complete” guide, from hardware to software and everything involved. I have never programmed anything and not sure if it would be even possible with my skills.
Thanks!

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Hello,

How much ada do u own?
I want to give u the best advice.

Cheers,

Hi Alex, thanks for the quick repsonse. Why is that relevant? I dont have much, but would rather keep it private.

Because small pools will need a lot of work to attract enough stake to create blocks, and it’s better to know all of this before to start

And perhaps it will be better for u to delegate instead to spend money running a pool
Cheers,

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Well, I am doing it as an experiemnt, not that worried about the benefits at this stage.

Ahh ok then, u are right it is not that relevant

For u I recommand to use the cntools, and I have a topic step by step how to do it

Any tips on where to start? Or if it is even possible without knowing any programming?

First u will need 2 servers (for the begining 1 Producer and 1 Relay), do u have the servers at home? Or do u want to use cloud servers?

Oh no, nothing at home. I am starting with this.

Then u must find a provider for cloud server first

Then u can start to set a pool for testnet, after u will be familiar with this u can swap to mainnet

Cheers,

Ok, will find a cloud server provider. Any guides on how to start to set a pool for testnet? I rather read a bit about it, before signing up for a server.

For cloud/vps server I can recommand (VPS M SSD)

U can use my tutorial

But u need to run the ./prereqs.sh -n for testnet (Step1 from the tutorial)

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This guide also gives you some of the basis requirements.

https://www.coincashew.com/coins/overview-ada/guide-how-to-build-a-haskell-stakepool-node

It has a slightly different install method from the cntools that Alex mentioned but they both get you there in the end.

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Very good that you want to keep it private, you will come a long way in operating a stake pool just knowing how to keep things private and secure. Just keep in mind that you will need a 500 ADA deposit for the registration :slight_smile:

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I recommend as well the CNtools method and guide from Alex.

Quite complete and easy to follow!

Good luck :four_leaf_clover:

Hello Alex,

I wold like to ask your advice . I would like to stake my ADA . Have 6 K
I try to connect the Yoroi wallet to my ledger yesterday but when I accept export public key take me back to the website to choose again which ledger I have , if I click again than wants to export Byron account . I stopped with it because I don’t understand why it showing me second time Byron account ?

Also trying to download Daedalus and connect with my ledger but it taking ages. Already 4 hours.

Any advice ?

Also half of my ada I would like to put on the Sunday Swap pool. That pool will be available on both Yoroi & Daedalus.

Sorry I am completely new with staking .

Looking forward to your advise … Thank you
Aniko

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First, u need to connect the ledger and u can do it via daedalus,yoroi or adalite.io

Now, the ada or in byron or shelley wallet? I think there are on byron wallet

Try to open chrome, download the yoroi extension and connect the ledger:

  • open yoroi
  • add new wallet (byron erra)
  • connect ledger

Then u should be able to see the funds

Hey, thanks for the fast respond .

So if is asking me to keep accepting the private keys , I just press the ok ?

Yes, and will import the byron wallet and u should be able to see the funds… next action is to move the funds to the shelley wallet in order to stake

I manage to connect.
What is the difference between BASE External and Internal wallet address ?

Which pool do you recommend on Yoroi ?

The Daedalus wallet takes so long only for the first time ? My laptop is on fire :slight_smile: