Can someone explain to me "staking" and "weight"?
Is it better to have multiple inputs in the wallet or is it ok to have only one large input in one address?
Basically, how can you optimize staking the most efficiently?
EDIT:
Am I also right in assuming that if I have 20k SDC being staked, I should be generating 1.096 SDC a day?
20 000 365 * .02
Okay, so staking is the process of creating a new block and getting this block approved by the network, according to the parameters of the protocol (8 hours for SDC) the staked coins will be unavailable for new stake during that time.
Weight is simply your weight on the network. If you keep your wallet offline locked from the network for 1 day you will save up 1 coinday in weight per coin. In your case this would be a weight of 20.000 per day. Saving up the weight will make your coins stake faster at that point, but after they have staked they'll have to build up weight again to stake again.
Simply said, User A with 100 coins and 10 days of weight will have a weight of 1000 on the network. User B with 1000 coins and 1 day of weight will have the same weight, however he will stake earlier as he will gather more weight faster.
To get the most out of staking you should keep your wallet unlocked for staking 24/7. You calculation is about right, however, because you stake the 1.096 the next day also you will receive a bit more by the end of the year. Also, transaction costs get added too so eventually it's a bit more then 2% if you stake 24/7.
- Soepkip
