Forging and Leasing
This guide provides details on how to set up forging and account leasing of your COAL balance.
Last updated
This guide provides details on how to set up forging and account leasing of your COAL balance.
Last updated
If you would like to forge directly in your own wallet, you need at least 1000 COAL and you must download the Full Coalculus Client Wallet. Refer to the following guide for the download process.
The only requirements to participate in the forging process are that you must have 1000 COAL in your account for at least 24 hours prior to beginning to forge. Your node/computer can only participate in the forging process when it is online. If you can’t meet one of these requirements, then the leasing process described later in this guide may be more appropriate for you.
Note that no new COAL are created in this process, however, people participating in the forging process (“forgers”) receive the transaction fees (paid in COAL) from each block of transactions that they solve.
Open the Coalculus Client Wallet and log in to the COAL chain with your main account. Allow the blockchain time to download the most recent block information.
Click the red button next to “Forging” in the upper left corner beneath your account balance.
A pop up box appears. Enter your passphrase and click, “Submit.”
You are now forging.
Keep your node online and you are good to go. If you would like to stop forging, simply click on the green button next to “Forging” and enter your passphrase again.
Open the Coalculus Client and log in to the Ardor chain. Click on “More Info” in the blue box beneath your Account Balance.
Click “Account Leasing.” Note that your Effective Balance is the forging power that you can lease. You will maintain your spending ability based on the Available Balance.
Click “Lease your balance to another account.” A pop up appears.
Enter the address you would like to lease your balance to. You must also enter a duration for the lease — note each day is approximately 8640 blocks. Enter your passphrase, click “Calculate” for the minimum fee, and hit submit. Your lease will begin after 1 day.
