How to Setup a STREAMR Node on VPS (2022) | streamr data node

How to Setup a STREAMR Node on VPS

If you would like to earn passive income with a Crypto node here’s an interesting one. The setup is fast and straight forward. I do recommend using an online VPS server because that means no hardware related problems at home… It’s also cheaper than buying a PC or Mac which would cost at least $200. The VPS server node that I’m using will cost you only around $20 per year!


How to Setup a Streamr Node on VPS (2022) | streamr data node


Best way to add DATA token to your MetaMask Wallet

Please use the following link to add the correct STREAMR (Data token) to your MetaMask wallet on Polygon.

Scroll down until you see “Add DATA to your wallet”.

https://streamr.network/discover/data-token/

You don’t have to buy the DATA token before you’ve set up your node. You will also need the node’s wallet address to deposit your tokens in MetaMask.

The maximum DATA token amount per node is 10.000 DATA.


Will I keep my STREAMR (DATA) tokens?

Yes, they are in your MetaMask wallet and will stay there. You can sell some or all of them at any time. Only when you sell all of them your node will stop earning income.


How much is the STREAMR node return?

At the moment (April 2022) you will earn more than 100% per year. This means that the annual cost for the VPS server is recovered after a 2 to 3 weeks (April 2022).


VPS Node recommendation

You can set up a node at home or use an online VPS provider like Racknerd.com. Click on VPS, and then chose the following pretty cheap plan (512 MB RAM – 1 vCore – 15 GB RAID-10 SSD Cached – 500 GB @ 1Gbps – 1 Free IP -$22.99 /year)


How to Setup a STREAMR Node on VPS – Server Setup Commands

Please find below all the commands that you need to setup a VPS server as a STREAMR Node.

1. Open your Terminal (on Mac) or Putty (on Windows).

2. ssh root@VPS-IP-address

The VPS-IP-address is the address or your VPS server that you just ordered from Racknerd.com.

# Are you sure you want to continue connecting (yes/no/[fingerprint])? 

Answer “yes”

# root@VPS-IP-address’s password: 

Click on the little key icon and paste your root password (that you go from your VPS provider)

You will not see your password but hit “enter” anyway.

3. Install docker commands

Copy and paste the following commands into terminal

curl -fsSL https://get.docker.com -o get-docker.sh

sudo sh get-docker.sh

(ONLY IF DOCKER IS ALREADY INSTALLED, press “Ctrl+C”)

4. Install STREAMR commands

mkdir ~/.streamrDocker

docker run -it -v $(cd ~/.streamrDocker; pwd):/root/.streamr streamr/broker-node:latest bin/config-wizard

After a while you’ll see “? Do you want to generate a new Ethereum private key or import an existing one?”

Chose “Generate” and hit “enter”

Next option enter “y”

Then you’ll see ” ? Select the plugins to enable (Press <space> to select, <a> to toggle all, <i> to invert selection, and <enter> to

 proceed)

❯◯ websocket

 ◯ mqtt

 ◯ publishHttp”

Mark “websocket” and “publishHttp”, then hit “enter”

Just hit enter for two following “port” prompts.

Now “? Do you want to participate in mining and staking? (Y/n)” – enter “Y”.

Hit “enter” when asked about the “path”.

Copy your node’s private key and Network Explorer address somewhere safe!

Now enter the following

docker run -it -p 7170:7170 -p 7171:7171 -p 1883:1883 -v $(cd ~/.streamrDocker; pwd):/root/.streamr streamr/broker-node:latest

Now you have to “Import Account” – use your above mentioned private key for it.

Add “DATA” (see above) – and transfer up to 10.000 DATA to your wallet.

Please watch the video above for the MetaMask setup.


How to find your STREAMR Node Rewards

Click on the following link and connect with your MetaMask wallet on Polygon.

https://brubeckscan.app/profile

Click on the icons on top to find Network Charts, your Node, Streams and your Profile.

(How to Setup a STREAMR Node)


STREAMR Node Network Explorer

To find your node on a world map just enter the name or wallet address into this map. You’ll get the name and address during the STREAMR node installation.

(How to Setup a STREAMR Node on VPS)


What is STREAMR

Streamr is a distributed open-source software project with contributors in a range of timezones from Boston to Wrocław, Helsinki, Zug, London and Melbourne.

The Streamr Network is a decentralized, topic-based publish-subscribe system. Each stream or pub-sub topic has its own peer-to-peer overlay network that is built and maintained by a set of BitTorrent-like trackers. Development is still in progress, with Brubeck as the current milestone.

The Streamr network opens up a world of innovation by connecting unstoppable pub/sub real-time data transport to the ecosystem of decentralized applications.

The Network can operate as a free and open data network, but it also provides incentives for users to run paid nodes to provide higher levels of service, and allows token holders to earn yield by staking on nodes to share in their earnings.


Staking

Running a Broker Node alone in the Brubeck Mainnet does not guarantee you qualify for  rewards. Unlike the testnets—where it was enough to just show up— the rewards are now based on how many DATA tokens you have staked on your node address. When your Broker Node observes a reward code, it reports it to our Rewards Backend. We are aware of the amount of DATA tokens on the address of the node in the Polygon Blockchain. From this, we are then able to determine your share of the rewards.

You may choose to stake between 0 and 10,000 DATA tokens on your node address. You can, of course, have more DATA on your node address than that, but reward calculation will cap it to 10,000. For example, 30,000 DATA on address A1 will get rewards as if there were 10,000 DATA staked. In order to get the benefits from 30,000 DATA, you need to have three nodes running that each have 10,000 DATA staked.

At launch, staking is possible only on the Polygon Mainnet. If you have DATA token holdings on the Ethereum Mainnet, Gnosis Chain (xDai), or Binance Smart Chain—you need to move them to the Polygon Mainnet, to the address of your Broker Node or Broker Nodes. Only DATA can be used for staking. The stake needs to remain on the node’s address; if you take it out, the node will not accumulate rewards any more. Any rewards already claimed will not be affected.

Payouts

Earned rewards will be automatically sent to the node’s address. The estimated payout date is the first business day of each month.

Payouts cost gas. At the moment, the transaction prices in Polygon are small, so this is not an issue. Small gas costs are covered by reserving a tiny margin of the max inflation rate to cover gas, and distributing the rest as rewards. If gas costs become significant in the future, we might switch to a ‘payout on request’ model where the Broker Node runner can request a payout as often as they feel like it, and pay gas.

(This is a copy from this article!)


How to join the Brubeck testnet

View at Medium.com


This is obviously no investment advice. DYOR = Do Your Own Research!

(How to Setup a STREAMR Node on VPS)

 

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