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RE: Witness Earnings Monthly Report - October 2023

in Hive Governance6 months ago

In a nutshell, here is some of the benefits of running a witness server include:

  • more understanding of how Hive works on a technical aspect
  • important contribution to the community by participating in signing transactions and holding a copy of the blockchain
  • have the opportunity to have a say in the decision on what rules are getting implemented in the blockchain
  • if you receive enough witness votes you can start earning enough to pay off your server rental and maybe even make profit

To run a witness:

  • you need to have some technical skills or partner with someone who have them
  • rent a server or purchase one and make sure it will have 24/7 stable internet access
  • compile, install, run and maintain the HIVE blockchain app
  • starting a witness vote gathering campaign
    • you only get paid if you sign blocks
    • you only get blocks to sign if you have received some witness blocks
    • the more witness votes you have received the more blocks you get to sign

There are several guides out there but here is a recent one:
https://hive.blog/hive-139531/@balaz/step-by-step-guide-t-28-03-2023-qn2jd

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So kind of you for sending the requested stuff. Many thanks bro..