Every day I still come across some people who haven’t voted for an Ark delegate and as such are not receiving rewards. Ark is a delegated proof of stake system, which has 51 delegates who are voted in by the community. Now I don’t want to go into delegated proof of stake in this article, you can read more about that here. I want to give you a super quick description of how to vote!
- You need Ark. Buy Ark on an exchange such as Binance or Bittrex with BTC or ETH (if you don’t have BTC or ETH, buy that for example via Coinbase)
- Send Ark from the exchange to your Ark wallet. You can download the Ark wallet via ark.io
- In your Ark wallet there is a tab called ‘votes’, go to this tab
- Click on ‘add delegate’
- Add a delegate you like. There are 51 delegates actively forging and as such able to reward voters. Their proposals can be found here. The top 51 can be seen here
- Once you have added a delegate you like, click on vote. You will be asked to type in your passphrase (always keep your passphrase in a safe place, don’t share it) and then you need to pay 1 Ark for voting
- You only pay this voting cost once, you only pay it again if you unvote or vote for another delegate
- You have now voted and will receive reward from your delegate!
Now some thoughts based on what people ask me on Ark slack or Telegram:
- Your Ark remains fully in your control! It does not leave your wallet, nobody else can touch it. You can take out the Ark whenever you want
- You do not need to leave your wallet open. You have voted, this is now registered. You can turn off your computer and you will still continue to receive reward
- You don’t need to re-vote if the amount of Ark in your wallet changes. It can even be 0
- DO NOT REGISTER YOURSELF AS DELEGATE. This will cost you 25 Ark and is not necessary to vote!!!
- Each delegate has a different proposal. Some go for high pay out, others spend part of their Ark on development others on Marketing. Choose a proposal and delegate you like
- Delegates are happy to answer questions, ask them on the Ark Slack
- There are calculators to estimate your return, here is one example, but there are a variety of calculators out there
Lastly, this certainly isn’t the first article about voting within Ark. I just wanted to provide a very quick description in case you want to get started swiftly. If you want a lot of detail and screenshots, check this blog here.
Ark Delegate — thefoundry (our proposal, here)
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