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Harmony Staking Guide Via Google Extension: Open Staking Has Been Launched

Everyone was eagerly waiting for the Harmony blockchain major update, and today the community proudly announces the launch of the Open Staking that marks another development stage and also new opportunities for all users. The network jump starts with 1,000 validator nodes, having 4 shards, 250 nodes each shard. It is accompanied by fast 8-second block time, and also ridiculously low fees that account to 1c for the most expensive transaction. Not only the network provides huge scaling capabilities, but it also brings decentralization and network security to another level.

Since the Open Staking has just launched, we wanted to make a small contribution to the community by releasing a Harmony staking guide via Google extension. It will explain the easiest and fastest way to stake your $ONE tokens, without the need to dive deep into purely technical information.

Wallet Setup And Actual Staking Process

It’s important to emphasize right from the beginning, that the easiest way to stake Harmony is to use an official Google Extension. At the moment of writing this guide, there are other staking methods available such as via Ledger, but it has more complexities for a new user.

So, first of all download and install the Google Extension for Harmony Wallet. In some cases you need to enable the developer mode in the Chrome browser so that you can install the wallet. Moreover, please double check the download source, because sometimes malicious actors can impersonate companies and upload software containing viruses.

Once downloaded and installed proceed to the wallet in the top right corner of your browser and select ‘Create A New Address.’

Choose the password that you will use for login, and also save your seed phrase in a safe place, since you may want to restore your wallet in case it is lost.

Please note: If you lose your seed phrase, then you won’t be able to restore access to your wallet, hence to your digital assets. So make sure to store it safely, because in the end this is your finance that should be protected.

You have successfully generated your wallet and now you are ready to stake Harmony.

Note, that you should have a minimum of 1,000 ONE tokens in order to delegate to a particular validator on the network since it is a rule of the consensus mechanism.

In the left toolbar click on ‘Validators’ to proceed to the complete list of them.

In the search bar enter ‘Everstake’ and run the search. Once you find us, simply click on the line and proceed further.

In the validation menu click the ‘Delegate’ button which comes right under the Everstake details.

Choose the desired amount you want to stake and proceed further, by confirming and signing your transaction.

For final confirmation, you have to enter your wallet password and approve this action.

Please allow the network a few minutes to process your transaction.

Once it is confirmed you will see, that you successfully staked your ONE tokens.

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