If you don’t have enough Loki to meet the current staking requirement, it’s worth considering pooling. Pooling involves combining your Loki with one or more others to reach the total staking requirement. The cost of running a server can be shared proportionate to each person’s contribution to the staking requirement — and so can the rewards (minus a masternode operator fee).
You can stake via an open pool using the Loki wallet software! Here is a full guide on how to do it.
The size of a Service Node reward varies between blockchain projects. Some are small, some are large, and some may vary over time based on emission curves or other economic frameworks. Check out this rewards calculator for Loki Service Nodes to estimate your LOKI rewards.
Mining is an alternative way to earn rewards from blockchain projects. The size of the initial capital contribution required to mine is generally much higher than to run a Service Node. It involves a major upfront cost — hardware. This hardware will depreciate over time, making it difficult for mining rewards to outweigh the costs.
Service Nodes also require an initial capital contribution, but that contribution (the staking requirement) is locked away, as opposed to being spent — and it will be available to you again in a short amount of time if you need it. You can quickly get back what you initially put in, along with your rewards, by unstaking. Plus, since the initial cost takes the form of the cryptocurrency itself, if the crypto goes up in value, so does your stake.
Service Nodes are the building blocks of the next generation of blockchain technologies. They secure the blockchain, and enable new online services that provide unprecedented privacy, security and reliability.
If you’re interested in running your own Service Node, it’s as simple as choosing a project, spinning up a VPS and staking some cryptocurrency. Just like that, you’ll be a part of the future of blockchain — and you’ll be rewarded for your part in it, too!
If you need more help or want to chat about running a Service Node, come and chat with us at the official Loki Service Node Telegram community