Frequently Asked Questions

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Staking cryptocurrencies is a process that involves committing your crypto assets to support a blockchain network and confirm transactions. In return, you are rewarded with more cryptocurrency.  

1. The harmony network becomes more decentralized because keys are evenly distributed across many different validators.
2. The number of validators and delegates grow, which directly increases the number of votes within the governance system.
3. If whales pull their delegation from small validators, then there is a lower risk of a larger number of keys becoming unelected suddenly.
4. Community growth.

All delegators to all validators run the risk of slashing. This can happen when a validator breaches the protocol or becomes unelected due to low stake. 

On paper, this could happen when a validator is Double Signing. When doing so, the validator loses at least 2% of the stake depending on the number of corrupted slots.

In practice, this has never happened before on the entire Harmony blockchain, but the risk is still present.

  You can delegate ONE to BoxedCloud.net with one of the supported wallets listed here.

1. Connect the wallet with the official staking dashboard
2. Search for the BoxedCloud.net validator in the list of All validators
3. Click on Delegate
4. Select the desired amount of ONE and hit Confirm

Here is an article that guides you step-by-step: Link.

  It takes about an epoch or two (~48 hours) for the first rewards. Note that the validator has to be Elected to make rewards.

 Use the official dashboard to monitor the performance of the BoxedCloud.net validator.

Rewards are based on the amount of slots a validator has. In addition, factors such as the validator's stake, the total amount of ONE staked on the chain, and shards' performance influence rewards. These factors change with each epoch.