Are you a part of the passive income revolution? Would you like to run a StorX node, and now you are just waiting for your node to reach reputation 10 which is needed to actually stake your tokens and start your stream of passive income with the StorX platform? How long will you have to wait before your StorX node reaches a reputation of 10?
The more StorX nodes are created, the more expensive a node will be. Maybe you are eager to get your node ready and staking before it reaches a level at which it will turn more expensive, or maybe you are just eager to get it up and running.
It is important to understand that you might be in a hurry as well because the price of a StorX node will increase as the number of nodes increase. You can see how it works in the text below.
The increasing prices of the StorX nodes
The Minimum Staking Incremental Model
- If the total number of nodes reached 1000 nodes, the minimum staking increase to 1500 SRX.
- If the total number of nodes reached 1500 nodes, the minimum staking increase to 2000 SRX
- If the total number of nodes reached 2000 nodes, the minimum staking increase to 2500 SRX
- If the total number of nodes reached 2500 nodes, the minimum staking increase to 3000 SRX
- If the total number of nodes reached 3000 nodes, the minimum staking increase to 3500 SRX
- If the total number of nodes reached 3500 nodes, the minimum staking increase to 4000 SRX
- If the total number of nodes reached 4000 nodes, the minimum staking increase to 5000 SRX
- If the total number of nodes reached 4500 nodes, the minimum staking increase to 6000 SRX
- If the total number of nodes reached 5000 nodes, the minimum staking increase to 7000 SRX
The numbers above are gathered from this official StorX article.
It is easy to see that those who joined the party earlier got in at a better price, and they have already been staking and earning for a while. But, if the party is awesome, then getting in later is way better than not getting in at all.
But, let us return to the actual topic of this article. How long will it take for you to reach reputation 10?
How long time does it take to reach reputation 10 which is required to run your StorX node?
You have everything ready. The node is up and running on your VPS. You have bought your StorX tokens. You have approved the tokens. Now you are simply waiting to reach reputation level 10. How much time will it take?
The time to reach level 10 is increasing a lot, every single day. How come? A little while ago, you could reach reputation 10 within a couple of hours, but now it is a question of days, it might even be weeks. This is due to the fact that not many people are using the actual platform yet, and this little activity is spread out on thousands of nodes. As a result, it will take you a while to actually do a great job and reach reputation 10 with your node. How come? For your node to be deemed healthy, it needs to be in use and it has to be utilized for storage. Until that happens, you will remain at a low level (or you will remain with a reputation as “Not a Staker).”
I cannot give an exact number, but you better be patient, and maybe the best thing you can do is to actually use the platform yourself and to spread the word to people around you.
However, this can change and become even slower, but if the actual number of users on the platform should increase quickly, then I assume it will go faster again.
Even though it might take a while for your node to be registered, it is important to notice that you can start to stake your amount even before you reach reputation 10. What does that mean? Whenever you reach a reputation higher than nothing, then you will be able to stake your amount. This is useful because that means you will at least start to gather your staking rewards, even though the node rewards do not arrive yet.
My personal node was set up in approximately exactly 24 hours. In other words, I didn’t have to wait for days or weeks for this to happen, but it took almost exactly 24 hours, and then the node was accepted and it had a reputation of 10. This happened at the end of September 2021, so it might be different by the time you try to make your StorX node.
What should I do while waiting for my StorX reputation level to increase?
There are several things you can do while waiting for this to happen. You could head over to StrongBlock and create a node there (it is way easier and it doesn’t require any technical skills at all). Actually, you can have your StrongBlock node up and running in less than 10 minutes!
You could also consider creating a Gala node. That requires some more work, but it is quite similar to what’s needed in order to create a StorX node. If you want to learn more about how you can create a Gala node, check the following article.
A third option might be creating a Presearch node. This is also an easy job. It isn’t very profitable at the moment, but it might turn profitable in the future if the platform should take off completely. So, why don’t you create a Presearch node, just for fun? It is a cheap node to create (approximately $250 at the moment as you need 1000 PRE tokens which currently have a value of $0.25 per token), and then you need a cheap VPS solution. More instructions on how you can create a Presearch node and which VPS to use can be found in this article.
I hope this article has answered your question about how long you will have to wait in order to get your StorX node ready. If you have further comments, insight, or questions, please write them in the comment field below.