LZLZ Forging Pool

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Pool Address

ARDOR-LZLZ-7PT2-7YRP-2QS2H

What is forging

Forging on Ardor is the equivalent of mining or staking on other blockchain networks. The process is more closely related to staking than it is mining as forging does not require specific proprietary hardware (ASICS) or vast amounts of electricity to operate. Anyone with Ardor on account and access to the Ardor network may participate in forging Ardor. Generally speaking, Ardor forging is the process of solving blocks and securing transactions on the Ardor blockchain. The forger (or forging pool) which solves the block receives the reward. The reward is composed of user transaction fees that were included in the forged block.

What is the LZLZ Bitswift forging pool

Bitswift operates an Ardor forging pool in which community members may participate for a chance to earn passive Ardor tokens. Chances of finding a block are directly related to the amount of forging power collectively contained in the pool. The amount of payouts / rewards the forger will receive is proportional to their weight that has been leased to the pool. Forgers may choose to join a pool with other forgers so that their chances of finding a block collectively are higher resulting in increased payouts or more frequent payouts.

The pool address is

ARDOR-LZLZ-7PT2-7YRP-2QS2H

also known as

BITSWIFT-LZLZ-7PT2-7YRP-2QS2H

Transaction fees & Earnings

It currently costs .1 Ardor to lease your balance to our pool. It costs 1 Ardor for a withdraw (payout) from the pool. The LZLZ pool charges 2% on all earnings. Pool earnings are used to facilitate Bitswift ecosystem growth.

How

  • 1. Visit https://bitswift.network:27876/index.html or download your preferred Ardor client and login.
  • 2. Click on more info under the tile showing your ARDOR balance.
  • 3. A window showing the details regarding your account will appear. Click the Account leasing tab.
  • 4. Click lease your balance to another account.
  • 5. The form allowing you to lease your balance will appear.

Fields to complete:;

  • RECIPIENT: You must lease your balance to our pool address ARDOR-LZLZ-7PT2-7YRP-2QS2H
  • PERIOD: for how long your balance will be leased. Expressed in blocks (1440 blocks is roughly 24h). Between 1440 and 65535. You cannot cancel a leasing once submitted.

Recommended: 65535 to minimize fees.

  • FEE: fee you wish to pay. The minimum is .1 Ardor.
  • SECRET PHRASE: the passphrase of your account.
  • 6. Click Lease Balance.
  • 7. Pat yourself on the back and clap your hands. Sit back, and enjoy, you will now earn passive Ardor tokens based on your forging weight in our pool.

Guide

File:Bitswift- A Practical guide to leasing Ardor to the Bitswift LZLZ forging pool.pdf

Bitswift.network pool stats

Generic stats regarding the LZLZ forging pool may be found at https://bitswift.network.

Stats include:

  • Forging power - Total amount of Ardor tokens that are dedicated and forging in the LZLZ pool
  • Lease fee - Fee required to lease to the pool, this number is static and set by Ardor network
  • Payout Fee - Fee required to release earnings back to the leasing account
  • Payout Period - Frequency of payouts
  • Pool Fee - Fee consumed by the pool operators (Bitswift)
  • Account listings - List of all accounts leasing balances to LZLZ
  • Payout totals - Total amount paid out to individual accounts which are leasing to LZLZ

Ardor forging pool.png

Bitswift LZLZ pool (1 week active)

Pool.png