How to Start Generating Blocks and Get Rewarded

Conditions

A Waves node can generate blocks if the following conditions are met:

• The node's generating balance is at least 1000 WAVES. This means that the account balance in WAVES, taking into account leasing, was not less than 1000 WAVES in each of the last 1000 blocks (for more information about types of balances in WAVES, see the Account Balance article). The greater the generating balance, the higher is your chance of being eligible to generate the next block.
• Block generation is not disabled in node settings (waves.miner.enable parameter, see the Miner Settings section). By default, block generation is enabled.
• The node is connected to at least the number of peers specified in the waves.miner.quorum parameter (1 by default).
• No more than waves.miner.interval-after-last-block-then-generation-is-allowed (1 day by default) has passed from the timestamp of the last block stored on the node.

Rewards

For each new block added to the blockchain, the following rewards are credited to the generating account:

• 6 WAVES: the current size of the block reward.
• 40% of the transaction fees in the current block and 60% of the transaction fees in the previous block, in accordance with the Waves-NG protocol.

Generating nodes are only rewarded in WAVES. If the transaction fee is specified in a sponsored asset, generators receive the equivalent amount in WAVES from the sponsor's account.

The calculation of the rewards is described in more detail in the Generator's Income article.

Run Generating Node

1. Set up a node.

   The ways to install a Waves node are described in the Install Waves Node article.

2. Create the node wallet.

   If you already have a seed phrase of Waves account, specify it (base58 encoded) in the node configuration file. If not, the node will generate a seed automatically. Both ways of creating a wallet are described in the Node Wallet article.

   If the node wallet was generated automatically, you can find out the account address using the GET /addresses REST API method of your node (see the API of Your Own Node section) or import the generated seed into a wallet app such as WX Network or Keeper Wallet.

3. Lease at least 1000 WAVES to the node. For security reasons, we recommend leasing (temporary delegating) WAVES rather than transferring WAVES to a generating account.

   The easiest way to create a lease is to use the WX Network app developed by a third-party team from the Waves community. Go to the Investments → WAVES Staking page, select the Enter Manually option and paste the address. For detailed instructions, see the WAVES Staking section of the WX Network documentation.

   Alternatively, you can sign and submit a lease transaction using one of the client libraries or in Waves IDE.

Check out the number of blocks generated by your node per day or per month at dev.pywaves.org. Remember that the chance of generating a block is proportional to the generating balance of your node. A node with a minimum balance of 1000 WAVES generates ~1 block per month only.

Possible issues and solutions are given in the Block Generation FAQ article.

Create Leasing Pool

Leasing pool is a Waves node that makes regular payouts for leasing.

By leasing funds from other users, you increase the generating balance of your node, the frequency of block generation and thus the income you receive. You can share this additional income with lessors. The Waves protocol does not regulate payouts to lessors: the frequency and percentage of payouts are set by pools themselves.

For revenue distribution to lessors, you can develop your own script or use one of the tools created by members of the Waves community:

• https://github.com/plukkie/WLDaaS
• https://github.com/jansenmarc/WavesLPoSDistributer

💡 For your node to be added to the list of pools on WX Network, fill in the form.