What else you need to know in using the Chia’s new pool protocol
On July 8, Chia officially released the latest pool agreement. After more than two months of research and hard work, the new pooling protocol is more complete in terms of key security, prevention of double farming cheating, and protection of farmers’ rights and interests. Although the new pool protocol is online, the old P disk can still be farmed. However, if you want to use the new pool protocol to join the farming pool, you need to upgrade the official software to version 1.2.0. After the upgraded version, farmers need to set up the NFT for the P map of the farming pond in advance, and then re-P disk can be added to the farming pond.
According to the official information, using the new pool protocol to join the cultivation pool requires 6 steps to be completed. To put it simply: Synchronize wallet-receive XCH-create Plot NFT-add drawing-manage Plot NFT-wait for payment. (Detailed steps:
Some time has passed since the release of the pool agreement. At present, many farmers have successively used pooling agreements to join the official farming ponds. If the user has upgraded the software to version 1.2.0 and completed some basic operations, then some precautions need to be understood.
In the new pool protocol, there can be multiple plots of NFT on the same key. Farmers can cultivate original (OG) plots or multiple plots at the same time.
2.Key backup and recovery
Farmers can have multiple keys at the same time, but each key must be synchronized separately. When multiple computers synchronize the key (24 words), the current Plot NFT and mining pool information will be automatically downloaded from the blockchain. All information about farmers’ mining pools, mapping NFTs, and smart contract addresses are completely backed up on the blockchain and can be restored with a key (24 words).
At present, the cost of joining the pool and the blockchain fee are very small, or zero. It may change as the use of farmers and blockchain increases.
4. Invalid state and self pool
Please do not close the GUI before joining the official farming pool, otherwise it may show that the joining pool is invalid, and you need to re-join or change to a self-pool. Note that you must remember to receive the reward for winning the block before switching pools, otherwise the reward will be owned by the pool and farmers will not be able to get the reward.
With the advancement of the Chia project, farmers who previously stopped P disks have also joined in. The price of Chia currency XCH has increased slightly and it is currently stable at around US$200. I believe that the IPO listing is just around the corner, and a new peak will surely be ushered in by then.
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