Tech: Mina Minute with… StakingPower

It’s been a good week for StakingPower. The recent audit from Least Authority of their Mina Wallet was successfully completed (read the report here). It now means the Mina Protocol has 3 audited Wallets to choose from. I thought it would be a great idea to get some background on the developers of the wallet and to hear about their plans for the future, so I spoke to viboracecata from the StakingPower team.

StakingPower

How long have you been involved with the Mina Project?

I first became involved in the Mina project in 2019 when it was still CODA, I heard some other project was using Ouroboros protocol and from some blockchain media, I found Mina project. I know the snark work can help the network become more decentralised, so from there I joined the the community.

What is the best thing about Mina Protocol?

In blockchain networks, the more decentralized a network is, the more safer it becomes, the snark work help to reduce the hardware requirement of pool node and anyone can join this network with relatively low cost.

I think in the future there will be tens of thousands of nodes in the Mina pool, that is the true blockchain network that I dream of. Maybe the chainsafe team will bring this dream come true soon. Another thing Mina protocol provides is snapps (Mina Apps), but I haven’t done any major research on it yet, so I can’t give an informed opinion on these yet.

Are you happy with the audit report?

The audit report is great, but for some issues or suggestions, we consider they are product features. To keep the app as user-friendly as possible we did not remove them as the description in the report. I recommend everyone who is using the old version upgrade to 1.3.0, and re-encrypt the seed with “Change Password” function. The wallet is very safe to use.

What is the difference between StakingPower wallet and Clorio or Auro Mina wallets?

The StakingPower wallet is a mobile wallet and it supports both android and iOS. It uses the Flutter platform for developing, the think the differences are on developing solutions. As things move forward I will provide a Mina signer sdk that works on Dart VM, then anyone working in the Flutter community can provide their contribution to Mina if they want.

StakingPower wallet

Do you also offer a staking service? If not, can you recommend a good staking provider for Mina?

I do run a staking service, but this service is private, only me and my friends can join, and I do not want to share it. However if you want to choose a good provider, several parameters should be taken into consideration, such as fee, delegation amount, and pool performance. If you are not the member of Genesis project, which means your account is not locked, you can choose coinlist or some other exchanges and get 24% APY.

If you are Genesis project members and do not want to run a pool, you should check the pool performance on MinaExplorer. In one epoch, which pool’s block production rate can exceed 75%, it would be a nice pool (If they have registered their pool services on stakeTab and the commission fee is not high, for example, below 7%). Currently, I’m working on the simple ranking feature to help to choose a good staking provider, I am hoping it will be published in the next two months.

Visit the StakingPower Mina Wallet website here >
View their listing in the Mina Tools Directory >

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