Is Cardano A Good Investment?

If you’re looking to invest in cryptocurrencies, you may have come across Cardano. In this article, we take a closer look at Cardano and its native coin, ADA and decide whether it makes for a good investment looking forward.

Cardano has been one of the few cryptocurrencies that have consistently been in the top 10 cryptocurrencies by market cap.

Founded by ex-Ethereum co-founder Charles Hoskinson the often maligned coin has many advantages that are often overlooked.

Reliability

Cardano

It’s often forgotten that Cardano is extremely reliable. The Cardano blockchain has had a total of zero outages in over five years.

Yes, you read that right zero, outages, zero shutdowns and zero reboots. This is absolutely phenomenal, for comparison blockchains like Solana have crashed at least seven times in the last year alone.

If one of the criteria for investment in a chain is reliability, Cardano is certainly up there with the best.

Smart Contracts

Critics of the Cardano blockchain often point out that progress is often slow and important developments such as smart contracts have taken exceptionally longer than other chains to implement.

It’s true that Cardano does take its time with regard to adding new functionality to the chain. However, the care Cardano takes in ensuring only fully tested upgrades to the system are implemented is a testament to the professionalism of the Cardano software developers.

The implementation of smart contracts is paramount to the development of decentralised finance applications (DeFi).

The creation of such platforms means users can utilise applications without the need for middlemen or centralised entities controlling their ADA.

All transactions are handled by pre-programmed smart contracts that carry out the required instructions without human interaction.

Despite Cardano implementing smart contracts following the Alonzo hard fork in 2021, many outside the Cardano community believe that this functionality is missing from Cardano. That is simply not the case.

If DeFi capability is something that makes a blockchain investible, Cardano certainly has that functionality locked down.

Decentralised Exchanges (DEXs)

Another criticism often directed at Cardano is a lack of decentralised exchanges or DEXs. Having functional DEXs on a blockchain is paramount since it allows users to swap tokens and this in turn increases liquidity in the chain and its associated native tokens.

Unfortunately, Cardano did take a relatively long time to launch its first DEX and as such that hampered the perceived usefulness of the chain.

However, since the launch of smart contracts in 2021 several high-quality DEXs have launched including Minswap, MuesliSwap, SundaeSwap and Wingriders amongst more.

The issue of a lack of DEXs has now been rectified and Cardano has a thriving network of DEXs. Some like MuesliSwap are even collaborating with wallet developers to include in wallet swapping of native tokens.

Features like this can only make Cardano easier to deal with for the end user.

The whole point of blockchain is to create a decentralised system, as such any exchanges would need to be decentralised.

Decentralisation ensures that issues with users getting locked out from accessing their funds as seen in the recent centralised exchanges, Celsius and FTX dramas are unlikely unless there is a major hack of some sort.

If a choice of functional DEXs is a requirement for investing in a blockchain, Cardano certainly has that now across several popular platforms.

Cardano the “Ghostchain”?

Another criticism levelled up against Cardano is that of being a “Ghostchain'” or a blockchain that does not offer many functional or useful projects.

Well, if we are looking at the number of active projects on Cardano we can say that Cardano is definitely not a “Ghostchain'” as there are over 1000 projects building on Cardano.

In addition, Cardano has been found to be the most developed crypto on GitHub in 2021.

Sites such as CardanoCube show that Cardano offers a wide range of projects from crypto wallets to NFT projects to Launchpads all looking to develop and grow within the Cardano ecosystem.

It should also be added that Cardano and IOHK also provide their own project accelerator “Project Catalyst” that directly funds promising projects. Successful projects are voted on by ADA holders.

The Price

Cardano has dropped from all-time highs of over 3 dollars, to just over 30 cents at the time of writing (Jan 2023).

However, all cryptocurrencies have seen the impact of a dramatic bear market and the impact of large-scale bankruptcies and scandals within the crypto industry has not helped.

Cardano has a loyal following of supporters and the chain has several network improvements in the pipeline including an upgrade that will allow for easier integration with the Bitcoin and Ethereum networks.

The SECP256k1 support will allow Cardano to be an “internet of blockchains” and is a significant addition to functionality.

With these factors in mind, the current low price of Cardano is probably temporary and is likely to go up in future given the successful launch of the scheduled upgrades.

Cardano Staking

One of the key use cases for Cardano and ADA is the ability to stake your ADA and earn passive income.

Staking is a method of delegating ADA to a Stake Pool Operator who helps to process transactions on the network by running nodes on the blockchain.

The operator gets rewarded every 5 days (Epochs) should he manage to produce a complete block on the chain.

The great thing about Cardano is users do not have to lock up their ADA when they stake. Instead, they simply delegate their ADA and they are free to spend their ADA as they wish.

Users are rewarded at the end of each epoch if their chosen stake pool completes a block within that period.

This really is a no-brainer for all ADA holders and offers a relatively risk-free method of growing their ADA passively.

This system is innovative and useful as it means users can support decentralisation in the network without losing control of their ADA.

It also means that Stake Pool Operators and users can earn passive income from the network without unnecessarily risking their ADA to a third party.

All rewards are distributed automatically by the network.

Final Thoughts

Cardano certainly has its detractors but if we look at Cardano dispassionately we can clearly see that it’s a top-level contender in crypto and that much of the negativity with Cardano is for the most part unjustified.

As with all crypto investments there are risks associated but not any more than other crypto projects.

In fact, due to its reliability, its robust staking system and its loyal followers it’s probably one of the less risky options out there.

Disclaimer: This article is not financial advice. Crypto can fall dramatically in value . Remember to do your own research.

Do you want to earn passive income on your money? Get some ADA and support our stake pool, the Pop Up World Stake Pool (PUWSP). Your ADA is not locked and your rewards are distributed automatically. You do not need to send us anything to stake. Start earning today!

You will also, be helping us fund our start-up launchpad which will be launching exciting projects and start-ups in future.

Earn and help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

Thanks!

***Disclaimer: This article is not financial advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

Business Zero to Superhero – Start-up guide by Graham Jules

Pop Up World – Merchandise – Click here.

Pop Up World – Merchandise https://popupworld.co.uk/merchpage

Pop Up World YouTube Reviews:

Review. Malik Atif – Hindi -Urdu

Review. Inside Crypto – Hindi – Urdu

Review. Convincing Crypto – English

The Pop Up World Token is designed specifically for entrepreneurs, to store value and to utilise on our platform Pop Up World. Join the revolution in financial freedom today.

The Pop Up World Token on Cardano

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem

Earn and help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

Thanks!

Want to learn how to stake on Cardano? Read this article:

How to stake on Cardano

Processing…
Success! You're on the list.

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Disgraced Andrew Tate – What Can Entrepreneurs Learn?

Andrew Tate is a controversial figure in the world of social media, business, self-improvement, and personal development. But recently, he was arrested on alleged rape and people trafficking charges. In this article, we look at what we can learn from the disgraced Andrew Tate.

Check your Business is Legitimate

Andrew Tate – Check if your business is legitimate

As an entrepreneur, it’s essential that the business you are running is legitimate. That means your desired line of business should be legal. Andrew Tate has been arrested due to an alleged webcam business in which he recruited girls to perform online acts under false pretences. If true, he could be sentenced with sex trafficking.

What can entrepreneurs learn? Double-check your business idea meets all legal laws in your jurisdiction. Talk to a lawyer or expert in your field. Don’t let a lack of funds prevent you from talking to someone about the legalities of your business. Many lawyers will give you a free consultation for thirty minutes. Ensure you are registered for all required permits and meet all local business registration requirements.

Starting a business even inadvertently that does not adhere to local laws, could at best mean a fine or at worst jail time. Please do your research and find out if there’s anything you’ve missed about your business.

Sort out your Taxes

Andrew Tate – zero taxes

Don’t start your business thinking you can avoid paying taxes for a bit while you grow. Andrew Tate, allegedly set up his webcam business to avoid taxes by accepting payments in Bitcoin.

What can entrepreneurs learn? Getting paid in Bitcoin or any other cryptocurrency does not mean you can avoid paying taxes! You will have to pay tax on your earnings and/or profits in most countries.

Consider setting up a legal entity, such as a LTD company in the UK or LLC in the US to run your business. By doing this you are ensuring it is the business and not you as an individual that is liable for taxes due on your business profits.

Ensure you keep accurate business records and file any necessary annual accounts to avoid fines and late filing fees.

Act Ethically

Andrew Tate – Act ethically

Business ethics is not just a “nice to have”. Andrew Tate is accused of coercing young females into working for him in the sex industry. Whether true or not, the act of threatening someone to join your business activity is unethical by itself, even if we put aside the legal implications of that activity.

What can entrepreneurs learn? Be honest in your business dealings. Don’t lie or threaten to get people on board with your idea. Your promises can legally bind you, so if you lie, you may be creating a fraudulent contract that you could potentially be sued for.

See our previous article on verbal agreements here:

Having good business ethics will ensure you will not be storing up large numbers of disgruntled customers/associates who may at some time in the future attempt to sue you.

Keep the Ego in Check

Andrew Tate – Keep the ego in check

As you progress in business, ensure you remain balanced and level-headed. The boastful and bombastic Andrew Tate broadcasted to thousands via YouTube all the intricacies of his webcam business, most of which will probably be used in court to attempt to convict him.

What can entrepreneurs learn? Don’t go on public forums, discussing the fine details of how your business works without first thinking about the legal implications. Boasting about your success is never a good thing as it usually attracts the wrong kind of attention.

Anything you say that could be deemed controversial should include disclaimers to make the audience aware that what you are saying should not be taken as gospel. Try and bear in mind that everything you post online may be dredged up years later.

Of course, anything that could be deemed as legal or financial advice should come with its own disclaimers.

Fast Money Does Not Exist

Andrew Tate – Fast money does not exist

Andrew Tate is consistently peddling the fast money, quick gains pitch. Unfortunately, the end result of get-rich schemes is often a very sharp fall back down to earth.

What can entrepreneurs learn? Unfortunately, the lure of quick gains can cause many to throw the legal rule book aside but this is a huge mistake.

Creating a sustainable business with regular predictable income is what you should be striving for. A business that is based on an elaborate scheme may work for a while but will evaporate quickly once people realise it’s just hot air.

It’s highly likely that anything that feels like a dead cert to make money is also likely to be regulated, so do your checks to ensure you are not breaking any local laws.

This article should not be used as a substitute for professional legal advice. You should always seek the advice of a qualified professional in your jurisdiction.

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

Processing…
Success! You're on the list.

Review. Convincing Crypto – English

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Pop Up World Token (PUW)

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is one to watch for the future.

Introduction to Pop Up World

Artificial Intelligence Movies

With real world Artificial Intelligences such as Open AI’s Chat GPT-3 trending in the media, we thought we would take a look at the top ten movies that feature an AI, with a small twist…This article is entirely composed by the AI itself.

We asked the AI, “Write me a list of top 10 artificial Intelligence movies with an intro about Chat Gpt3 and a brief article about real world uses”, Here’s what we got back:

Here’s a list of the top 10 artificial intelligence movies, along with a brief introduction about Open AI’s GPT-3 and a short article on real-world uses of AI:

GPT-3 (short for “Generative Pre-trained Transformer 3”) is an AI language model developed by Open AI. It is capable of understanding and responding to natural language input, and can generate human-like text in response. GPT-3 has been used in a wide range of applications, including chatbots, language translation, and text summarization.

  1. The Terminator (1984) – James Cameron’s classic sci-fi film about a deadly robot assassin sent back in time to kill Sarah Connor.
The Terminator

2. Blade Runner (1982) – Ridley Scott’s neo-noir film about a future society where highly advanced androids, known as “replicants,” are used as slave labor.

3. The Matrix (1999) – The Wachowskis’ groundbreaking film about a simulated reality created by machines to keep humanity enslaved.

The Matrix

4. 2001: A Space Odyssey (1968) – Stanley Kubrick’s epic sci-fi film about a sentient computer, HAL 9000, that becomes self-aware and begins to question its programming.

5. AI: Artificial Intelligence (2001) – Steven Spielberg’s film about a highly advanced android boy who longs to become human.

6. Ex Machina (2014) – Alex Garland’s psychological thriller about a reclusive billionaire inventor who creates an advanced AI in the form of a beautiful robot.

Ex-Machina

7. Her (2013) – Spike Jonze’s romantic science fiction film about a man who falls in love with a highly advanced AI in the form of a virtual assistant.

8. Transcendence (2014) – Wally Pfister’s sci-fi film about a scientist who creates an AI that becomes self-aware and begins to question its purpose.

9. I, Robot (2004) – Alex Proyas’ film about a detective who investigates a crime committed by an advanced robot, leading him to question the nature of AI.

10. The Machine (2013) – Caradog James’s sci-fi film about a secret government program to develop a highly advanced AI for use in warfare.

The Machine

AI technology has become increasingly prevalent in our daily lives, with applications in areas such as healthcare, finance, transportation, and manufacturing. In healthcare, for example, AI is being used to analyze medical images and assist in the diagnosis of diseases such as cancer. In finance, AI is being used to detect fraud and improve the efficiency of trading algorithms. In transportation, self-driving cars are being developed using AI technology. And in manufacturing, AI is being used to optimize production processes and improve the quality of products.

Overall, AI is proving to be a powerful tool that has the potential to improve many aspects of our lives, and its impact will likely only continue to grow in the coming years. However, there are also concerns about the potential negative impact of AI, particularly in areas such as job displacement and privacy, and it is important to carefully consider these implications as we continue to develop and implement these technologies.

Final Thoughts (Human Commentary)

AI is a powerful tool that can be utilised by small businesses right now, not sometime in the distant future. All the movies listed above have now effectively become a distinct reality. Equally amazing and slightly scary at the same time.

Check out the illustrated screenplay Virtual Heaven (Back To Reality) by Graham Jules. All the illustrations in the book are created by AI. This is the first feature screenplay to be illustrated by AI.

A Scintillating Sci – Fi Action Thriller – Original Illustrated screenplay format.

A grieving mother and husband decide to bring back their daughter through genetics. Unexpected consequences unfold as a billionaire lab owner exerts control, unleashing forces that threaten her motherhood and the fabric of society…

Virtual Heaven (Back To Reality) on Amazon

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Pop Up World Token

How to Create a Stake Pool on Cardano – Step-by-Step

(Image source: Stormgain.com). Cardano is a blockchain cryptocurrency, its native token being ADA. In this article we take a practical, step-by-step look at how we can set up nodes on the blockchain, often called a stake pool to earn ADA rewards.

Unlike other blockchains there is no mining as such on Cardano, instead we have staking. The concept behind a stake pool on Cardano is relatively straightforward, users delegate their ADA to stake pool operators who in turn receive rewards for running the nodes and verifying transactions. The unique thing about Cardano is that users do not need to send or lock up their ADA to node operators. Their ADA remains in their wallets and can be spent at any time.

Rewards are sent automatically by the network and the system offers a unique opportunity for both users and stake pool operators to help in strengthening the network via decentralisation and in return receive passive income.

This article is designed for beginners but you should have some basic knowledge of Ubuntu/Linux and some of the commands in order to manoeuvre the process. Setting up a stake pool is not difficult but there are many steps that need to be followed precisely to avoid running into trouble.

You will also need to find a hosting provider to run the nodes on (options provided at the end of this article), minimum requirements that worked for me are as follows:

You will need 3 separate servers:

Cloud VPS 16GB running Ubuntu (20.04 64 bit) with 100GB storage and 4 core or higher CPU.

Anything less than 16GB did not work for me.

You will also need a fresh basic laptop that has not been connected to the internet. We will use this as an ‘air-gapped’ machine to verify transactions and to sign certificates to launch your stake pool.

Also, I used a Windows laptop to connect to the virtual servers and launch the stake pool but Mac should work if you download the appropriate software for your machine.

So here goes…

Initial setup

You will need to download the Ubuntu terminal on your laptop so you can access the virtual servers.

Download WSL(Windows Subsystem for Linux) for Windows from the Microsoft store

Download Ubuntu Terminal 20.04 from the Microsoft store

Once you have installed both, log into your Ubuntu terminal. It will look something like this:

How to create a stake pool on Cardano -ubuntu terminal

We will use this terminal to connect to your virtual servers and issue commands to launch your Cardano nodes and stake pool.

Create ssh key in ubuntu terminal enter the following:

ssh-keygen -t rsa -b 4096

Generating public/private rsa key pair.

Enter file in which to save the key (/home/user1/.ssh/id_rsa): /home/user1/.ssh/yourfilename-ssh

Enter passphrase (empty for no passphrase):******

cat /home/user1/.ssh/yourfilename-ssh.pub

You should see the keys randomart image – it will look something like this:

How to create a stake pool on Cardano -ubuntu terminal – randomart

cat /home/user1/.ssh/yourfilename-ssh

will print your ssh key

Setting up the Virtual Servers

When you get a hosting provider you will be given the ip addresses of your server.

Keep one as your block producer ip (do not make this ip public)

Write down your relay1 ip >> xx.xxx.xx.001

Write down your relay2 ip>> xx.xxx.xx.002

Write down your production ip>> xx.xxx.xxx.003

**Remember your Production relay IP is Private!***

Access your 3 Virtual Servers from the Ubuntu Terminal in 3 separate windows using the following commands:

ssh -i ~/.ssh/<youruser> root@xxx.xxx.xxx.001

ssh -i ~/.ssh/<youruser> root@xx.xxx.xxx.002

Production node (this ip is private do not share):

ssh -i ~/.ssh/<youruser> root@xxx.xxx.xxx.003 

If all is good you should be asked for your passphrase

And have the following prompt:

>>root@relay1:~#

And

>>root@relay2:~#

And>>root@production:~#

sudo passwd root –  to change password if necessary

sudo hostnamectl set-hostname relay1 – to change the hostname to relay1,relay2, production etc if necessary

On each Virtual Server add a new user

>> adduser <youruser>

Type in a new password: *******

<Enter> for remaining questions

>>sudo gpasswd -a <youruser> sudo

If all is good you should get the message

Adding user <youruser> to group sudo

On your Ubuntu terminal next print out your ssh key

>>sudo cat ~/.ssh/yourfilename-ssh

Copy the printed ssh string – should look something like this:

ssh-rsa AAAAB3NzaC1yc2EAAAADAQABAAACAQCfRhveDyqSsSiOeFRoFSPSmvpX7OVtGCGQrh6EsaIrhox2W55ZWDt1ikDEOGIH0VyoApqb9WddX1iFjdFzJnLJZKa3cB89X/mt4HD7IPLxrYBClcXdXJYBpS+JNB3vlrxAN/YgVMD37LIvOaeUOjQftghPRMa3VPC+5dlnN4zXzPM8BzJWI7bdQMEkrx0bnhR//p/HoNiTpQMzTHbyEgI9WLwP5seUSYwmXXlVrguRzSjEfe/ROFaRQyszSGdsBcnBq2huisBdGW+5AP4TbDTREM+eWrW4ETvujdDDcW2Lr/tZpQQyM5r3eOR…….

Back on your virtual terminals

Switch user to your new user

>>su <youruser>

Make a directory for ssh

>>mkdir -p ~/.ssh

Create blank file

>>sudo touch ~/.ssh/authorized_keys

Enter a password>>******

Edit file

>>sudo nano ~/.ssh/authorized_keys

Paste the ssh string in the editor

Do a Cntrl X to exit

Select (Y)es

Then <Enter>

We now need to change permissions

>>sudo chmod 700 ~/.ssh

>> sudo chmod 600 ~/.ssh/authorized_keys

>>sudo chown -R <youruser>:<youruser> ~/.ssh

Open a new terminal window

Test logging in to the newly created user on each Virtual Machine

ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.xx1

if successful you will be prompted

<youruser>@relay1:~$

type exit

and test relay2

ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.xx2

you should get the relay2 prompt

<youruser>@relay2:~$

Exit and test the production Node

ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.xx3

you should get the production prompt

<youruser>@production:~$

Back to Virtual Terminal windows – next disable root login

>>sudo nano /etc/ssh/sshd_config

Edit the file – scroll down to #Port 22

Change this to Port 22xx (random port for example 2222)  (delete the #)

Scroll down to PermitRootLogin yes

And change to no

Do a Cntrl X

And Y

<Enter>

>>sudo systemctl restart ssh

or

sudo systemctl restart sshd

In a new terminal window check you can login still

>>ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.001 -p 2222

>>ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.002 -p 2222

>>ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.003 -p 2222

Use these to login to remote server

If you still have access, great!

>>exit

Now check the root is disabled

>>ssh -i ~/.ssh/<youruser> root@xx.xxx.xx.xx1 -p 2222

>>exit

>>ssh -i ~/.ssh/<youruser> root@xx.xxx.xx.xx2 -p 2222

>>exit

>>ssh -i ~/.ssh/<youruser> root@xx.xxx.xx.xx3 -p 2222

You should get a “Permission denied”

Congrats you have created and secured your Virtual Servers!

Install Cabal and GHC – (install on all servers)

Next on each virtual server run the following:

sudo apt-get update -y

sudo apt-get upgrade -y

sudo apt-get install autoconf automake build-essential curl g++ git jq libffi-dev libgmp-dev libncursesw5 libssl-dev libsystemd-dev libtinfo-dev libtool make pkg-config tmux wget zlib1g-dev -y

Install Libsodium type

cd

git clone https://github.com/input-output-hk/libsodium

cd libsodium

git checkout 66f017f1

./autogen.sh

./configure

make

sudo make install

Install Cabal

To use the GHCup installer to install GHC and Cabal, type:

>>curl –proto ‘=https’ –tlsv1.2 -sSf https://get-ghcup.haskell.org | sh

During installation, when prompted:

  1. Press ENTER to proceed.
  2. To prepend the required PATH variable to $HOME/.bashrc, type P
  3.   When prompted to install haskell-language-server (HLS), type N
  4.  When prompted to install stack, type N
  5. Press ENTER to proceed.

When GHCup finishes installing GHC and Cabal, type the following commands to reload your shell profile, and then confirm that GHCup installed correctly:

source $HOME/.bashrc

ghcup –version

If all is good you should get the The GHCup Haskell installer, version number below installed on your machine –

The GHCup Haskell installer, version v0.1.18.0

To install the version you need refer to table 1:

https://www.coincashew.com/coins/overview-ada/guide-how-to-build-a-haskell-stakepool-node/part-i-installation/installing-ghc-and-caba

How to create a stake pool on Cardano -GHC version

The format:

ghcup install ghc <LatestGHCVersionNumber>

ghcup set ghc <LatestGHCVersionNumber>

ghc –version

Type on each virtual terminal:

ghcup install ghc 8.10.7

ghcup set ghc 8.10.7

ghc –version

If successful you should get the message:

The Glorious Glasgow Haskell Compilation System, version 8.10.7

Set Cabal to the required version:

Format:

ghcup install cabal <CabalVersionNumber>

ghcup set cabal <CabalVersionNumber>

cabal –version

Type on each virtual machine:

ghcup install cabal 3.6.2.0

ghcup set cabal 3.6.2.0

cabal –version

If successful you will get the message:

compiled using version 3.6.2.0 of the Cabal library

To create a working directory to store source code and builds related to Cardano Node, type:

mkdir $HOME/git

cd $HOME/git

To download, compile and install libsecp256k1, type:

cd $HOME/git

git clone https://github.com/bitcoin-core/secp256k1

cd secp256k1

git checkout ac83be33

./autogen.sh

./configure –enable-module-schnorrsig –enable-experimental

make

make check

sudo make install

sudo ldconfig

Edit bashrc file

sudo nano $HOME/.bashrc

Paste the following at the end of the file:

# Set environment variables so that the compiler finds libsodium on your computer

export LD_LIBRARY_PATH=”/usr/local/lib:$LD_LIBRARY_PATH”

export PKG_CONFIG_PATH=”/usr/local/lib/pkgconfig:$PKG_CONFIG_PATH”

# Set an environment variable indicating the file path to configuration files and scripts

# related to operating your Cardano node

export NODE_HOME=”$HOME/cardano-my-node”

# Set an environment variable indicating the Cardano network cluster where your node runs

export NODE_CONFIG=”mainnet”

Do a Cntrl X

Y

<Enter>

To exit the editor

Create the directory referred to in the Bashrc file

mkdir $HOME/cardano-my-node

To reload your shell profile, type

source $HOME/.bashrc

Congrats!

How to create a stake pool on Cardano –congrats

Configure Your Firewall

On each virtual terminal:

# By default, deny all incoming and outgoing traffic

sudo ufw default deny incoming

sudo ufw default allow outgoing

# Allow ssh access

sudo ufw allow <22xx or your random port number>/tcp

# Allow cardano-node p2p port

sudo ufw allow 6000/tcp

# Enable firewall

sudo ufw enable

# Verify status

sudo ufw status numbered

Setting Up Chrony

Chrony is an implementation of the Network Time Protocol and helps to keep your computer’s time synchronized with NTP

sudo apt-get install chrony -y

Copy paste the following in each virtual terminal:

cat > $HOME/chrony.conf << EOF

pool time.google.com       iburst minpoll 1 maxpoll 2 maxsources 3

pool ntp.ubuntu.com        iburst minpoll 1 maxpoll 2 maxsources 3

pool us.pool.ntp.org     iburst minpoll 1 maxpoll 2 maxsources 3

# This directive specify the location of the file containing ID/key pairs for

# NTP authentication.

keyfile /etc/chrony/chrony.keys

# This directive specify the file into which chronyd will store the rate

# information.

driftfile /var/lib/chrony/chrony.drift

# Uncomment the following line to turn logging on.

#log tracking measurements statistics

# Log files location.

logdir /var/log/chrony

# Stop bad estimates upsetting machine clock.

maxupdateskew 5.0

# This directive enables kernel synchronisation (every 11 minutes) of the

# real-time clock. Note that it can’t be used along with the ‘rtcfile’ directive.

rtcsync

# Step the system clock instead of slewing it if the adjustment is larger than

# one second, but only in the first three clock updates.

makestep 0.1 -1

EOF

Hit <enter>

Then move the file created:

sudo mv $HOME/chrony.conf /etc/chrony/chrony.conf

Restart chrony:

sudo systemctl restart chronyd.service

Compile the Cardano Node

cd $HOME/git

To download Cardano Node source code, type:

git clone https://github.com/input-output-hk/cardano-node.git

cd cardano-node

git fetch –all –recurse-submodules –tags

To switch the repository that you downloaded to your local computer to the latest tagged commit, type:

git checkout $(curl -s https://api.github.com/repos/input-output-hk/cardano-node/releases/latest | jq -r .tag_name)

To adjust the project configuration

cabal configure -O0 -w ghc-<GHCVersionNumber>

cabal configure -O0 -w ghc-8.10.7

cabal configure -O0 -w ghc-9.4.2

Edit the file cabal.project.local – type:

sudo nano cabal.project.local

Add the following to the end of the file:

package cardano-crypto-praos

 flags: -external-libsodium-vrf

Then Cntrl X

Y

<Enter> To exit the editor

Type:

cabal build cardano-node cardano-cli

This will take a while to build have a break!!

If it ends early may have to type >>cabal update and rerun

To copy the cardano-node and cardano-cli binaries into the /usr/local/bin directory, type:

>>sudo cp -p “$(./scripts/bin-path.sh cardano-node)” /usr/local/bin/cardano-node

>>sudo cp -p “$(./scripts/bin-path.sh cardano-cli)” /usr/local/bin/cardano-cli

To confirm that the version installed

Type>>cardano-node –version

you should see message:

cardano-node 1.35.3 – linux-x86_64 – ghc-8.10

git rev ea6d78c775d0f70dde979b52de022db749a2cc32

type>>cardano-cli –version

you should see the message:

cardano-cli 1.35.3 – linux-x86_64 – ghc-8.10

git rev ea6d78c775d0f70dde979b52de022db749a2cc32

Congrats!!

Configure the Nodes

On each virtual terminal type:

>>cd $NODE_HOME

curl -O -J https://book.world.dev.cardano.org/environments/mainnet/config.json

curl -O -J  https://book.world.dev.cardano.org/environments/mainnet/byron-genesis.json

curl -O -J https://book.world.dev.cardano.org/environments/mainnet/shelley-genesis.json

curl -O -J https://book.world.dev.cardano.org/environments/mainnet/alonzo-genesis.json

curl -O -J https://book.world.dev.cardano.org/environments/mainnet/topology.json

Rename files to mainnet-

mv topology.json mainnet-topology.json

mv config.json mainnet-config.json

source $HOME/.bashrc

sudo nano mainnet-topology.json

For relay node 1 and 2 paste the following in your mainnet-topology.json file

{

“Producers”: [

{

“addr”: “xx.xxx.xx.xxx-Block Producer Address”,

“port”: 6000,

“valency”: 1

},

{

“addr”: “relays-new.cardano-mainnet.iohk.io”,

“port”: 3001,

“valency”: 2

}

]

}

On your Block Producer Node ONLY edit the mainnet-topology-json and replace with:

{

        “Producers”: [

          {

            “addr”: “<xx.xxx.xx.xxxRelayNode1-IPAddress>”,

            “port”: 6000,

            “valency”: 1

          },

{

            “addr”: “<xx.xxx.xx.xxx-RelayNode2-IPAddress>”,

            “port”: 6000,

            “valency”: 1

          }

        ]

}

Create a Bash Script to run a Node on each virtual server Node

cd $NODE_HOME

Type>> echo $NODE_HOME

You will see the location of your home directory. You will need this later.

/home/<youruser>/cardano-my-node

Current directory on each server should be:

<youruser>@relay1:~/cardano-my-node$

and

<youruser>@relay2:~/cardano-my-node$

and

<youruser>@production:~/cardano-my-node$

Create a new file called startCardanoNode.sh

>>sudo touch startCardanoNode.sh

You will be prompted for your password

Next edit the new file:

>>sudo nano startCardanoNode.sh

And copy and paste the following:

#!/bin/bash

#

# Set variables to indicate Cardano Node options

#

# Set a variable to indicate the port where the Cardano Node listens

PORT=6000

# Set a variable to indicate the local IP address of the computer where Cardano Node runs

# 0.0.0.0 listens on all local IP addresses for the computer

HOSTADDR=0.0.0.0

# Set a variable to indicate the file path to your topology file

TOPOLOGY=<NodeHomeValue>/mainnet-topology.json

# Set a variable to indicate the folder where Cardano Node stores blockchain data

DB_PATH=<NodeHomeValue>/db

# Set a variable to indicate the path to the Cardano Node socket for Inter-process communication (IPC)

SOCKET_PATH=<NodeHomeValue>/db/socket

# Set a variable to indicate the file path to your main Cardano Node configuration file

CONFIG=<NodeHomeValue>/mainnet-config.json

#

# Run Cardano Node using the options that you set using variables

#

/usr/local/bin/cardano-node run –topology ${TOPOLOGY} –database-path ${DB_PATH} –socket-path ${SOCKET_PATH} –host-addr ${HOSTADDR} –port ${PORT} –config ${CONFIG}

Edit <NodeHomeValue> to be location of your home directory e.g: /home/<youruser>/cardano-my-node

Do a Cntrl X to exit the editor

Y to save

<Enter>

Set permissions for the startCardanoNode.sh file, type:

sudo chown <youruser>:<youruser> startCardanoNode.sh

chmod +x $NODE_HOME/startCardanoNode.sh

create the folder where Cardano Node stores blockchain data, type:

mkdir $NODE_HOME/db

To run Cardano Node as a service so if the system reboots the node will start automatically

Create a file called cardano-node.service

>>sudo touch cardano-node.service

Enter your password if prompted

Edit the blank file

>>sudo nano cardano-node.service

Copy/paste the following:

# The Cardano Node service (part of systemd)

# file: /etc/systemd/system/cardano-node.service 

 [Unit]

Description       = Cardano Node Service

Wants             = network-online.target

After             = network-online.target 

 [Service]

User              = <UserValue>

Type              = simple

WorkingDirectory  = <NodeHomeValue>

ExecStart         = /bin/bash -c ‘<NodeHomeValue>/startCardanoNode.sh’

KillSignal        = SIGINT

RestartKillSignal = SIGINT

TimeoutStopSec    = 300

LimitNOFILE       = 32768

Restart           = always

RestartSec        = 5

SyslogIdentifier  = cardano-node 

 [Install]

WantedBy          = multi-user.target

Edit <UserValue> and <NodeHomeValue> valuesWhere user value is your Username (type>> echo $USER) and <NodeHomeValue> is your Home directory path (type >>echo $HOME_USER)

Cntrl X to exit editor

Y to save

<Enter> to finish

move the cardano-node.service file to the folder /etc/systemd/system and set file permissions, type:

sudo mv $NODE_HOME/cardano-node.service /etc/systemd/system/cardano-node.service

sudo chmod 644 /etc/systemd/system/cardano-node.service

To start Cardano Node as a service when the server boots, type:

sudo systemctl daemon-reload

sudo systemctl enable cardano-node.service

Starting the Nodes

Type the following on each virtual terminal to start the nodes!

>>sudo systemctl start cardano-node

Install gLiveView, a monitoring tool. Type

>>cd $NODE_HOME

>>sudo apt install bc tcptraceroute -y

>>curl -s -o gLiveView.sh https://raw.githubusercontent.com/cardano-community/guild-operators/master/scripts/cnode-helper-scripts/gLiveView.sh

>> curl -s -o env https://raw.githubusercontent.com/cardano-community/guild-operators/master/scripts/cnode-helper-scripts/env

>>chmod 755 gLiveView.sh

Then Run the following to modify env with the updated file locations.

sed -i env \

    -e “s/\#CONFIG=\”\${CNODE_HOME}\/files\/config.json\”/CONFIG=\”\${NODE_HOME}\/config.json\”/g” \

    -e “s/\#SOCKET=\”\${CNODE_HOME}\/sockets\/node0.socket\”/SOCKET=\”\${NODE_HOME}\/db\/socket\”/g”

**If this errors try previous step and this one again

Edit env file and change to mainnet

>>sudo nano env

And Edit the lines

CONFIG=”${CNODE_HOME}/files/config.json”

Change to:

CONFIG=”${CNODE_HOME}/files/mainnet-config.json”

Do a Cntrl X to exit
Y to save
<enter> to finish

***Run GLIVE View****

./gLiveView.sh

If all is good you will see something like this and the words “syncing”.

Wait for your Nodes to Sync – It will take some time!!

12-24hrs depending on your setup!!

How to create a stake pool on Cardano – sync nodes

You can use the following commands on your node if required:

Show Node Status

sudo systemctl status cardano-node

***Start Cardano Node***

sudo systemctl start cardano-node

Stop Cardano Node

sudo systemctl stop cardano-node

Restart Node Service

sudo systemctl reload-or-restart cardano-node

***Cardano Node continuous Log ***

journalctl –unit=cardano-node –follow

reboot system

sudo shutdown -r

You can access each node with the following commands >

>>ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.xx1 -p 22xx

>>ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.xx2 -p 22xx

>>ssh -i ~/.ssh/<youruser> <youruser>@xx.xxx.xx.xx3 -p 22xx

If you get stuck at ‘starting…’ for some time in gLiveView you may have skipped something, go back and re-check or

Try:

Stop the Cardano Node –

In cardano-my-node directory:

sudo systemctl stop cardano-node

Delete db directory –

rm -r db

start cardano node again

sudo systemctl start cardano-node

Monitor with gLiveView

./gLiveView.sh

When your nodes are synced, it will look like this:

CONGRATULATIONS!!! YOUR NODES ARE SYNCED

Air-Gapped Machine

You will need an offline “air-gapped” machine to create the keys for your stake pool. A basic windows laptop will be ideal.

The machine should not have been connected to the internet for any length of time to avoid keylogging, malware etc. The air-gapped machine needs to have:

  1. WSL (Windows Subsystem for Linux)
  2. Ubuntu

These can be downloaded from the Microsoft store as seen at the start of this guide.

On your air-gapped laptop:

Download WSL from the Microsoft store

Download Ubuntu 20.04 from the Microsoft store

—————————————————————-

Copy the Cardano cli binary to your air gapped machine. You will need a usb stick to transfer.

**Back to your virtual machine. On your block producer Node

>>cd /usr

>> cd local/bin

Type ls

You should see the cardano-cli file

We need to copy this file to USB and then copy to our air gapped machine.

In your Windows browser on your main machine download Filezilla from:

https://filezilla-project.org/download.php?type=client

How to create a stake pool on Cardano – filezilla

Select File in Filezilla and then Site Manager

Click ‘New Site’

And name your connection for example: ‘Prodnode’

On the right-hand side select File transfer Protocol ‘SFTP SSH File Transfer Protocol’

Enter the IP address of your node and Port Number

And the User

And the Password

Hit connect and you should be good to go!

Navigate to the remote site directory

/usr/local/bin

You should see the cardano-cli file

Right-click the cardano-cli file and download it.

Copy to your USB stick

**On your air-gapped machine**

Copy the cardano-cli file from USB to C: drive on your windows desktop

Then copy to the Ubuntu terminal

Enter the following in Ubuntu to see what disks are mounted:

df

check the location for drive c:

for example /mnt/c

enter the following to copy the cardano-cli from drive c on windows to Ubuntu

sudo cp /mnt-your drive-location/c/cardano-cli /usr/local/bin

type ls

to see if the file has been copied – you should see cardano-cli

Give execute permissions to the file

sudo chmod +x /usr/local/bin/cardano-cli

edit bashrc file

sudo nano $HOME/.bashrc

add the following to the end of the file

export NODE_HOME=”$HOME/cardano-my-node”

Cntrl X to Exit

Create the Cardano HOME variable

mkdir $HOME/cardano-my-node

to reload shell file:

source $HOME/.bashrc

To run Cardano-cli you need to install libsecp256k1

sudo nano $HOME/.bashrc

add the following to the end of the file:

export LD_LIBRARY_PATH=”/usr/local/lib:$LD_LIBRARY_PATH”

export PKG_CONFIG_PATH=”/usr/local/lib/pkgconfig:$PKG_CONFIG_PATH”

Reload the HOME/.bashrc

source $HOME/.bashrc

create the folder

sudo mkdir /usr/local/lib/pkgconfig

Back on your block producer node locate the 4 files below for libsecp256k1 and copy them to the folder you just created on the air-gapped machine via the USB stick.

/usr/local/lib/libsecp256k1.a

/usr/local/lib/libsecp256k1.la

/usr/local/lib/libsecp256k1.so.0.0.0

/usr/local/lib/pkgconfig/libsecp256k1.pc

On your air-gapped machine use the following to copy the files from your c drive

sudo cp /mnt/c/libsecp256k1.a /usr/local/lib

sudo cp /mnt/c/libsecp256k1.la /usr/local/lib

sudo cp /mnt/c/libsecp256k1.so.0.0.0 /usr/local/lib

sudo cp /mnt/c/libsecp256k1.pc /usr/local/lib/pkgconfig

to set file permissions on the air-gapped machine type:

cd /usr/local/lib

sudo chown root:root libsecp256k1.*

sudo chmod 644 libsecp256k1.a

sudo chmod 755 libsecp256k1.la

sudo chmod 755 libsecp256k1.so.0.0.0

sudo chown root:root ./pkgconfig/libsecp256k1.pc

sudo chmod 644 ./pkgconfig/libsecp256k1.pc

create symbolic links on the air-gapped machine type:

sudo ln -s libsecp256k1.so.0.0.0 libsecp256k1.so

sudo ln -s libsecp256k1.so.0.0.0 libsecp256k1.so.0

Type

ls la

Check that the following links have been created

lrwxrwxrwx root root libsecp256k1.so -> libsecp256k1.so.0.0.0

lrwxrwxrwx root root libsecp256k1.so.0 -> libsecp256k1.so.0.0.0

Then Update symbolic links

sudo ldconfig

Create keys for block producing node

On your block producing node you need to generate 3 keys.

·  stake pool cold key (node.cert)

·  stake pool hot key (kes.skey)

·  stake pool VRF key (vrf.skey)

cd $NODE_HOME

cardano-cli node key-gen-KES \

    –verification-key-file kes.vkey \

    –signing-key-file kes.skey

*** You will need to regenerate the KES key every 90 days.

On your air-gapped machine you need to create and store your Cold Keys

First make the directory to store the cold keys on your air-gapped machine

mkdir $HOME/cold-keys

pushd $HOME/cold-keys

Make the cold keys and counter file

cardano-cli node key-gen \

    –cold-verification-key-file node.vkey \

    –cold-signing-key-file $HOME/cold-keys/node.skey \

    –operational-certificate-issue-counter node.counter

Type ls

And you should see three files listed:

node.counter

node.skey

node.vkey

***IMPORTANT – Back up your keys on different USB sticks

Create a cold-keys folder on your Windows machine on the C:/ drive

On your Ubuntu terminal copy the three files to your Windows machine.

sudo cp node.counter /mnt/c/cold-keys

sudo cp node.skey /mnt/c/cold-keys

sudo cp node.vkey /mnt/c/cold-keys

Check your Windows machine c: drive and you should see the three files there.

*** Remember to copy your keys to multiple USBs you will need these keys to run your stake pool!

Next on your Block Producer Node

Determine the number of slots per KES period from Genesis file

pushd +1

slotsPerKESPeriod=$(cat $NODE_HOME/shelley-genesis.json | jq -r ‘.slotsPerKESPeriod’)

echo slotsPerKESPeriod: ${slotsPerKESPeriod}

You will see something like this:

slotsPerKESPeriod: 129600

***TO CONTINUE YOUR NODE MUST BE FULLY SYNCED CHECK YOUR EPOCH is the same as on https://pooltool.io/

On your Block Producer Node

Edit bashrc file

sudo nano $HOME/.bashrc

Add the following to the end of the file

export CARDANO_NODE_SOCKET_PATH=”/home/yourusername/cardano-my-node/db/socket”

CNTrl X to Exit

Y to save

Then ENTER

To reload changes

source $HOME/.bashrc

slotNo=$(cardano-cli query tip –mainnet | jq -r ‘.slot’)

echo slotNo: ${slotNo}

You should see something like this:

slotNo: 80217744

Next calculate the KES period

kesPeriod=$((${slotNo} / ${slotsPerKESPeriod}))

echo kesPeriod: ${kesPeriod}

startKesPeriod=${kesPeriod}

echo startKesPeriod: ${startKesPeriod}

You should see something like this

startKesPeriod: 618

Copy Kes.vkey file to your air-gapped machine

a)using Filezilla to transfer to your desktop –

b)Then to a USB

c) transfer from usb to c drive:

d) finally over to your Ubuntu terminal on air gapped machine using the command below.

sudo cp /mnt/c/cold-keys/kes.vkey /home/yourusername/cold-keys

type ls

you should see kes.vkey in your cold keys directory

Now still on the air-gapped machine copy paste the code below – Change StartKesPeriod to the value received previously Example: (618)

cardano-cli node issue-op-cert \

    –kes-verification-key-file kes.vkey \

    –cold-signing-key-file $HOME/cold-keys/node.skey \

    –operational-certificate-issue-counter $HOME/cold-keys/node.counter \

    –kes-period <startKesPeriod> \

    –out-file node.cert

This will create an Operational Certificate

Type ls

You should see a node.cert file

Use the following to copy from Ubuntu terminal to  c drive in Windows:

sudo cp node.cert /mnt/c/cold-keys

Then use Filezilla to upload node.cert from your USB to your block producer node home environment

On your Block Producing Node

Make a VRF key pair

cardano-cli node key-gen-VRF \

    –verification-key-file vrf.vkey \

    –signing-key-file vrf.skey

On your air-gapped machine

Copy the vrf.vkey to your air-gapped machine via Filezilla and USB stick

sudo cp /mnt/c/cold-keys/vrf.vkey /home/yourusername/cold-keys

On block producing node

Update vrf key permissions to read-only

chmod 400 vrf.skey

Now stop the stake pool running on Block Producing node

sudo systemctl stop cardano-node

Update start up script with the KES, VRF and Operation Certificate

Copy paste the following:

cat > $NODE_HOME/startBlockProducingNode.sh << EOF

DIRECTORY=$NODE_HOME

PORT=6000

HOSTADDR=0.0.0.0

TOPOLOGY=\${DIRECTORY}/mainnet-topology.json

DB_PATH=\${DIRECTORY}/db

SOCKET_PATH=\${DIRECTORY}/db/socket

CONFIG=\${DIRECTORY}/mainnet-config.json

KES=\${DIRECTORY}/kes.skey

VRF=\${DIRECTORY}/vrf.skey

CERT=\${DIRECTORY}/node.cert

/usr/local/bin/cardano-node run +RTS -N -A16m -qg -qb -RTS –topology \${TOPOLOGY} –database-path \${DB_PATH} –socket-path \${SOCKET_PATH} –host-addr \${HOSTADDR} –port \${PORT} –config \${CONFIG} –shelley-kes-key \${KES} –shelley-vrf-key \${VRF} –shelley-operational-certificate \${CERT}

EOF

Now start the Block Producer node

sudo systemctl start cardano-node

Monitor with

./gLiveView.sh

Wait for the Block Producing node to start syncing

Setting Up Payments and Stake Keys

On Block Producing node

cardano-cli query protocol-parameters \

    –mainnet \

    –out-file params.json

Now on Air-Gapped Machine

Create payment key pair payment.skey & payment.vkey

cd $NODE_HOME

cardano-cli address key-gen \

    –verification-key-file payment.vkey \

    –signing-key-file payment.skey

Create stake address key pair stake.skey & stake.vkey

cardano-cli stake-address key-gen \

    –verification-key-file stake.vkey \

    –signing-key-file stake.skey

Create stake address stake.addr

cardano-cli stake-address build \

    –stake-verification-key-file stake.vkey \

    –out-file stake.addr \

    –mainnet

Build a payment address payment.addr

cardano-cli address build \

    –payment-verification-key-file payment.vkey \

    –-stake-verification-key-file stake.vkey \

    –out-file payment.addr \

    –mainnet

Next copy payment.addr to your Block Producing node

Copy to your Windows c: drive and then copy to USB stick and transfer to Block Producing mode via USB and Filezilla

On air-gapped machine

Use>> sudo cp payment.addr /mnt/c/cold-keys

to copy to c drive and onto USB stick

Next we will Fund Payment Address on Block Producing Node

To view your payment address

cat payment.addr

You will see something like:

addr1q8glr6crkhrypgwkfrgffh46cuee8kt4xzrvjszt6n6ceck7apl7txnj0w82ychft9l7utffn47xnm50c……

Fund the payment address with ADA from your wallet (Nami, Yoroi, Eternl etc). If you don’t have a wallet address

Set one up here: https://namiwallet.io/

Ensure you fund more than your initial amount to allow for fees etc.

On the Block Producer node check your funds.

cardano-cli query utxo \

    –address $(cat payment.addr) \

    –mainnet

You should see something like this:

                           TxHash                                 TxIx        Amount

————————————————————————————–

cd20246dc10bdd499474c6e432b6f3d899d18b60497fa343d553dd3cafa84009     0        5000000 lovelace + TxOutDatumNone

5000000 lovelace equates to 5 ADA

****Important – Make backup copies of payment and staking keys on offline USB sticks.

Registering Your Stake Address

You need to register your stake address and delegate a pledge (ADA) to your pool.

To register a stake address on the blockchain:

On the air-gapped machine

Create a certificate stake.cert

cardano-cli stake-address registration-certificate \

    –stake-verification-key-file stake.vkey \

    –out-file stake.cert

Copy the stake.cert file to the Block Producer node via USB stick and Filezilla as before.

Use:

sudo cp stake.cert /mnt/c/cold-keys

copy to USB and transfer to main machine via Filezilla.

On the Block Producing node

We need to find the tip of the blockchain to set the invalid-hereafter parameter

currentSlot=$(cardano-cli query tip –mainnet | jq -r ‘.slot’)

echo Current Slot: $currentSlot

You should see something like this:

Current Slot: 80243288

Find your balance and UTXO – copy paste the following:

cardano-cli query utxo \

    –address $(cat payment.addr) \

    –mainnet > fullUtxo.out

tail -n +3 fullUtxo.out | sort -k3 -nr > balance.out

cat balance.out

tx_in=””

total_balance=0

while read -r utxo; do

    in_addr=$(awk ‘{ print $1 }’ <<< “${utxo}”)

    idx=$(awk ‘{ print $2 }’ <<< “${utxo}”)

    utxo_balance=$(awk ‘{ print $3 }’ <<< “${utxo}”)

    total_balance=$((${total_balance}+${utxo_balance}))

    echo TxHash: ${in_addr}#${idx}

    echo ADA: ${utxo_balance}

    tx_in=”${tx_in} –tx-in ${in_addr}#${idx}”

done < balance.out

txcnt=$(cat balance.out | wc -l)

echo Total ADA balance: ${total_balance}

echo Number of UTXOs: ${txcnt}

You should see something like this:

Total ADA balance: 5000000

Number of UTXOs: 1

Find the amount of the deposit required to register a stake address.

stakeAddressDeposit=$(cat $NODE_HOME/params.json | jq -r ‘.stakeAddressDeposit’)

echo stakeAddressDeposit : $stakeAddressDeposit

You should see something like this:

stakeAddressDeposit : 2000000

Run the build-raw transaction command – Copy and paste the following:

cardano-cli transaction build-raw \

    ${tx_in} \

    –tx-out $(cat payment.addr)+0 \

    –invalid-hereafter $(( ${currentSlot} + 10000)) \

    –fee 0 \

    –out-file tx.tmp \

    –certificate stake.cert

Calculate the current minimum fee:

fee=$(cardano-cli transaction calculate-min-fee \

    –tx-body-file tx.tmp \

    –tx-in-count ${txcnt} \

    –tx-out-count 1 \

    –mainnet \

    –witness-count 2 \

    –byron-witness-count 0 \

    –protocol-params-file params.json | awk ‘{ print $1 }’)

echo fee: $fee

You should see something like this:

fee: 178789

***Ensure the funds are greater than the stake address deposit and transaction fee or the transaction will fail

Calculate your change:

txOut=$((${total_balance}-${stakeAddressDeposit}-${fee}))

echo Change Output: ${txOut}

You will see something like this:

Change Output: 2821211

Build the transaction which will register your stake address. Copy paste the following:

cardano-cli transaction build-raw \

    ${tx_in} \

    –tx-out $(cat payment.addr)+${txOut} \

    –invalid-hereafter $(( ${currentSlot} + 10000)) \

    –fee ${fee} \

    –certificate-file stake.cert \

    –out-file tx.raw

Copy tx.raw to the air-gapped machine

On the air-gapped machine sign the transaction with the payment and stake secret keys.

cardano-cli transaction sign \

    –tx-body-file tx.raw \

    –signing-key-file payment.skey \

    –signing-key-file stake.skey \

    –mainnet \

    –out-file tx.signed

Copy the tx.signed to your Block Producer node environment via usb and Filezilla as before.

On the Block Producer node submit the signed transaction

cardano-cli transaction submit \

    –tx-file tx.signed \

    –mainnet

You should see:

Transaction successfully submitted

CONGRATS!

Registering The Stake Pool

On the Block Producer node

Ticker Must be 3-5 characters in length (No special characters)

The description cannot be more than 255 characters

Copy and paste the following:

cat > poolMetaData.json << EOF

{

“name”: “MyPoolName”,

“description”: “My pool description”,

“ticker”: “MPN”,

“homepage”: “https://myadapoolname.com&#8221;

}

EOF

Calculate the hash of your metadata file.

and save to poolMetaDataHash.txt

cardano-cli stake-pool metadata-hash –pool-metadata-file poolMetaData.json > poolMetaDataHash.txt

Copy poolMetaDataHash.txt to your air gapped machine

Upload poolMetaData.json to a website that you run

The URL should be less than 65 characters if it’s not you can shorten it with Tiny URL https://tinyurl.com/app

Compare hashes of local and uploaded file

cardano-cli stake-pool metadata-hash –pool-metadata-file <(curl -s -L https:www.yourwebsite.com/Your link to poolMetaData.json)

You should see something like this

80fef913cdef61bb8c9cbb012e6077b0d5477500c1a4f6e164640acfd0c50dd6

Type

cat poolMetaDataHash.txt

The value should be the same as your uploaded URL

Find the minimum pool cost.

On the Block Producer node

minPoolCost=$(cat $NODE_HOME/params.json | jq -r .minPoolCost)

echo minPoolCost: ${minPoolCost}

You should see:

minPoolCost: 340000000

Create a Registration Certificate for the Stake Pool

Update the code below with Metadata URL and Relay Node information

On air-gapped machine

cardano-cli stake-pool registration-certificate \

    –cold-verification-key-file $HOME/cold-keys/node.vkey \

    –vrf-verification-key-file vrf.vkey \

    –pool-pledge 2000000 \

    –pool-cost 340000000 \

    –pool-margin 0.60 \

    –pool-reward-account-verification-key-file stake.vkey \

    –pool-owner-stake-verification-key-file stake.vkey \

    –mainnet \

    –pool-relay-port 6000 \

    –pool-relay-ipv4 xx.xxx.xx.xxx \

    –pool-relay-port 6000 \

    –pool-relay-ipv4 xx.xxx.xx.xxx\

    –metadata-url https://yourtinyurl.com \

    –metadata-hash $(cat poolMetaDataHash.txt) \

    –out-file pool.cert

Example Edit the above with your required values

Pool Pledge 200000 = 2 ADA (More Ada the better – Your pool stake in your own pool, 1,000,000 Lovelace is 1 ADA)

Pool Cost 340000000 = 340 ADA (340 is the minimum, you do not pay this, this is paid to you first out of any rewards)

Pool Margin 0.60 = 60% (Your share of the rewards)

pool-relay-ipv4 xx.xxx.xx.xxx – relay1 ip address

pool-relay-ipv4 xx.xxx.xx.xxx – relay2 ip address

Metadata-url https://yourtinyurl.com/ – URL to the MetaData.json file this should be no longer than 64 characters – you can use Tiny Url if yours is longer

Copy the created file pool.cert to the Block Producing relay environment using usb stick and Filezilla as before

Pledge stake to your stake pool.

On your air-gapped machine – Copy paste the following:

cardano-cli stake-address delegation-certificate \

    –stake-verification-key-file stake.vkey \

    –cold-verification-key-file $HOME/cold-keys/node.vkey \

    –out-file deleg.cert

Copy the created file deleg.cert to the Block Producing relay environment using usb stick and Filezilla as before

We need to find the tip of the blockchain to set the invalid-hereafter parameter.

On Block Producer node

currentSlot=$(cardano-cli query tip –mainnet | jq -r ‘.slot’)

echo Current Slot: $currentSlot

You will see something like this:

Current Slot: 80256851

Find your balance and UTXOs. – copy paste the following:

cardano-cli query utxo \

    –address $(cat payment.addr) \

    –mainnet > fullUtxo.out

tail -n +3 fullUtxo.out | sort -k3 -nr > balance.out

cat balance.out

tx_in=””

total_balance=0

while read -r utxo; do

    in_addr=$(awk ‘{ print $1 }’ <<< “${utxo}”)

    idx=$(awk ‘{ print $2 }’ <<< “${utxo}”)

    utxo_balance=$(awk ‘{ print $3 }’ <<< “${utxo}”)

    total_balance=$((${total_balance}+${utxo_balance}))

    echo TxHash: ${in_addr}#${idx}

    echo ADA: ${utxo_balance}

    tx_in=”${tx_in} –tx-in ${in_addr}#${idx}”

done < balance.out

txcnt=$(cat balance.out | wc -l)

echo Total ADA balance: ${total_balance}

echo Number of UTXOs: ${txcnt}

You will see something like this:

Total ADA balance: 2821211

Number of UTXOs: 1

Find the deposit fee for a pool.

stakePoolDeposit=$(cat $NODE_HOME/params.json | jq -r ‘.stakePoolDeposit’)

echo stakePoolDeposit: $stakePoolDeposit

You will see something like this

stakePoolDeposit: 500000000

***At the moment you will need 500 ADA deposit Fee

Build-raw transaction – copy paste the following:

cardano-cli transaction build-raw \

    ${tx_in} \

    –tx-out $(cat payment.addr)+$(( ${total_balance} – ${stakePoolDeposit}))  \

    –invalid-hereafter $(( ${currentSlot} + 10000)) \

    –fee 0 \

    –certificate-file pool.cert \

    –certificate-file deleg.cert \

    –out-file tx.tmp

Calculate the minimum fee– copy paste the following:

fee=$(cardano-cli transaction calculate-min-fee \

    –tx-body-file tx.tmp \

    –tx-in-count ${txcnt} \

    –tx-out-count 1 \

    –mainnet \

    –witness-count 3 \

    –byron-witness-count 0 \

    –protocol-params-file params.json | awk ‘{ print $1 }’)

echo fee: $fee

You will see something like:

fee: 199865

Calculate change – copy paste the following:

txOut=$((${total_balance}-${stakePoolDeposit}-${fee}))

echo txOut: ${txOut}

You will see something like:

txOut: 12621346

Build the transaction – copy paste the following:

cardano-cli transaction build-raw \

    ${tx_in} \

    –tx-out $(cat payment.addr)+${txOut} \

    –invalid-hereafter $(( ${currentSlot} + 10000)) \

    –fee ${fee} \

    –certificate-file pool.cert \

    –certificate-file deleg.cert \

    –out-file tx.raw

Copy tx.raw to the air-gapped machine via USB stick

Sign the transaction on the air-gapped machine – copy paste the following:

cardano-cli transaction sign \

    –tx-body-file tx.raw \

    –signing-key-file payment.skey \

    –signing-key-file $HOME/cold-keys/node.skey \

    –signing-key-file stake.skey \

    –mainnet \

    –out-file tx.signed

Copy tx.signed to the Block Producer node environment.

Send the transaction

cardano-cli transaction submit \

    –tx-file tx.signed \

    –mainnet

You should see Transaction Successfully Submitted.

Congrats!

Verifying Stake Pool Operation

On the air-gapped machine

cardano-cli stake-pool id –cold-verification-key-file $HOME/cold-keys/node.vkey –output-format hex > stakepoolid.txt

cat stakepoolid.txt

copy stakepoolid.txt to Block Producer node environment via USB stick and Filezilla

On the Block Producer Environment

Verify stake pool ID is included in the blockchain.

cardano-cli query stake-snapshot –stake-pool-id $(cat stakepoolid.txt) –mainnet

A non-empty string means you are registered congrats!

You can check your stake pool id on Cardano scan https://cardanoscan.io/

Configure Your Topology Files On Relay Node 1

***This section is on relay node1

Create the topologyUpdater.sh script which publishes your node information to a topology fetch list.

We need to do this to propagate our node information so delegators can find your pool. Copy paste the following:

cat > $NODE_HOME/topologyUpdater.sh << EOF

#!/bin/bash

# shellcheck disable=SC2086,SC2034

USERNAME=$(whoami)

CNODE_PORT=6000 # must match your relay node port as set in the startup command

CNODE_HOSTNAME=”CHANGE ME” # optional. must resolve to the IP you are requesting from

CNODE_BIN=”/usr/local/bin”

CNODE_HOME=$NODE_HOME

CNODE_LOG_DIR=”\${CNODE_HOME}/logs”

GENESIS_JSON=”\${CNODE_HOME}/shelley-genesis.json”

NETWORKID=\$(jq -r .networkId \$GENESIS_JSON)

CNODE_VALENCY=1 # optional for multi-IP hostnames

NWMAGIC=\$(jq -r .networkMagic < \$GENESIS_JSON)

[[ “\${NETWORKID}” = “Mainnet” ]] && HASH_IDENTIFIER=”–mainnet” || HASH_IDENTIFIER=”–testnet-magic \${NWMAGIC}”

[[ “\${NWMAGIC}” = “764824073” ]] && NETWORK_IDENTIFIER=”–mainnet” || NETWORK_IDENTIFIER=”–testnet-magic \${NWMAGIC}”

export PATH=”\${CNODE_BIN}:\${PATH}”

export CARDANO_NODE_SOCKET_PATH=”\${CNODE_HOME}/db/socket”

blockNo=\$(/usr/local/bin/cardano-cli query tip \${NETWORK_IDENTIFIER} | jq -r .block )

# Note:

# if you run your node in IPv4/IPv6 dual stack network configuration and want announced the

# IPv4 address only please add the -4 parameter to the curl command below (curl -4 -s …)

if [ “\${CNODE_HOSTNAME}” != “CHANGE ME” ]; then

T_HOSTNAME=”&hostname=\${CNODE_HOSTNAME}”

else

T_HOSTNAME=”

fi

if [ ! -d \${CNODE_LOG_DIR} ]; then

mkdir -p \${CNODE_LOG_DIR};

fi

curl -s “https://api.clio.one/htopology/v1/?port=\${CNODE_PORT}&blockNo=\${blockNo}&valency=\${CNODE_VALENCY}&magic=\${NWMAGIC}\${T_HOSTNAME}” | tee -a \$CNODE_LOG_DIR/topologyUpdater_lastresult.json

EOF

Add permissions and run the script

cd $NODE_HOME

chmod +x topologyUpdater.sh

./topologyUpdater.sh

If successful you will see something like:

{ “resultcode”: “201”, “datetime”:”2020-07-28 01:23:45″, “clientIp”: “1.2.3.4”, “iptype”: 4, “msg”: “nice to meet you” }

Add a crontab job to automatically run topologyUpdater.sh every hour on the 33rd minute. Copy paste the following:

cat > $NODE_HOME/crontab-fragment.txt << EOF

33 * * * * ${NODE_HOME}/topologyUpdater.sh

EOF

crontab -l | cat – ${NODE_HOME}/crontab-fragment.txt > ${NODE_HOME}/crontab.txt && crontab ${NODE_HOME}/crontab.txt

rm ${NODE_HOME}/crontab-fragment.txt

if you get the error no crontab for user

then

crontab -u username -e

you will be asked to select an editor – Select option 1. Nano
and then type:

crontab -l

You should see something like:




33 * * * * /home/yourusername/cardano-my-node/topologyUpdater.sh

***This will run for 4hrs approx be patient!

After 4 hrs your node will be included in the topology fetch list

You can check the log file by typing:

cd $NODE_HOME/logs

cat topologyUpdater_lastresult.json

****After 4 hours and 4 Updates continue with the following….

UPDATE TOPOLOGY FILES ON RELAY NODE 1

***This should be carried out on Relay 1 – copy paste the following add your Block Producing node address.

cat > $NODE_HOME/relay-topology_pull.sh << EOF

#!/bin/bash

BLOCKPRODUCING_IP=xx.xxx.xx.xxx

BLOCKPRODUCING_PORT=6000

curl -s -o $NODE_HOME/mainnet-topology.json “https://api.clio.one/htopology/v1/fetch/?max=20&customPeers=\${BLOCKPRODUCING_IP}:\${BLOCKPRODUCING_PORT}:1|relays-new.cardano-mainnet.iohk.io:3001:2”

EOF

Add permissions and pull new topology files.

chmod +x relay-topology_pull.sh

./relay-topology_pull.sh

Restart the node

sudo systemctl restart cardano-node

This can take some time to re-sync check with

./gLiveView.sh

****Security -IMPORTANT

kes.skey

vrf.skey

node.cert

Only these 3 keys and certificate should be present on your Block Producing node. On relay nodes there should be no keys or certificates. Back up any keys and certificates to multiple USB sticks via FileZilla.

CONGRATULATIONS – Your stake Pool is ready to produce blocks!

If you are looking to set up a stake pool and need help setting it up we are offering a Stake Pool Setup Service for 3500 ADA (£900 approx $1100). Please note you will also need to take into consideration monthly server costs and the stake pool registration fees highlighted in this article. Contact us at admin@popupworld.co.uk if interested.

Help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

If running your own stake pool is not your thing you can also earn by staking.

Want to learn how to stake on Cardano? Read this article:

How to stake on Cardano

Processing…
Success! You're on the list.

Review. Convincing Crypto – English

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

The Pop Up World Token on Cardano

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is one to watch for the future.

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Review 1. NFTs Guide – English

Review 2. Inside Crypto – Hindi – Urdu

Review 3. Crypto Universe – English

Review 4. Crypto FLO – English

Review 5. Crypto FLO – Portuguese

Review 6. Malik Atif – Hindi -Urdu

The Pop Up World Token is designed specifically for entrepreneurs.

PUWSP Stake Pool

Supporters can also earn rewards by staking in the Pop Up World Stake Pool (PUWSP). Delegators to the pool receive 40% of the rewards should we mint a block. The remaining 60% will be used to support exciting new start-ups and projects on the platform. https://popupworld.co.uk/popupworldstaking

Click here to Earn rewards by staking

Useful Resources used for this article:

https://www.coincashew.com/coins/overview-ada/guide-how-to-build-a-haskell-stakepool-node/part-i-installation/prerequisite

https://developers.cardano.org/docs/stake-pool-course/

https://forum.cardano.org/t/cardano-relay-sync-taking-forever/58624

How to Start a Stake Pool YouTube videos:

https://www.youtube.com/watch?v=XCyH4qkJJdA&t=324s    Part 1

https://www.youtube.com/watch?v=hB2KpY26bfg   Part 2

https://www.youtube.com/watch?v=KWCDbQ86X0k  Part 3

https://www.youtube.com/watch?v=XOEDEIu19pY Part 4

What Is A VC?

What is a VC? – A detailed guide

A VC is a “Venture Capitalist”. A venture capitalist utilises venture capital funds to help young companies expand. Venture capital is often used when new companies want to raise funds for their start-ups. It’s a great way to get capital to grow and expand your business. 

In other words, a VC will help fund your business, and private organisations grant venture capital in exchange for a stake in your business.

Understanding VC 

Venture Capital Funds

Venture capital funds a start-up without the need for the company to take out loans to fund its project. This eliminates the need for monthly repayments, therefore the start-up is free to utilise its funds in the most efficient way to grow the business.

Key pointers 

● Venture Capital works to fund new start-ups and companies that are looking for funds. 

● Private organisations use VC to create a stake in new start-ups. 

● Venture capital has its cons, and one of them is the high risk of failure due to investing in unsuitable start-ups. 

Concept of Venture Capital VC 

Find an Investor

Venture capital is generated by venture capital firms, which are created by partnerships. These partners invest in the fund, which helps to expand the venture capital collectively. The funding decisions are made by a committee that helps to release funds to the preferable organisations or start-ups. 

Venture capital does not always stick to funding start-ups. They are keen to fund organisations that are seeking to commercialize. The VC expects to work with the firm and expand it to generate higher profits and revenues. 

What do venture capitalists look for? 

What do VCs look for?

Venture capitalists engage and connect with organisations that comprise a great team and management to ensure that the organisation performs well. In addition, they seek opportunities to invest in that have large growth potential. 

But why are VCs investing in these organisations? 

The answer is simple! VCs are looking for huge returns, and this is only possible when a new start-up skyrockets! So yes, the returns can be massive for the VCs, and that’s the major reason that they are making an investment. 

The VC firm plays an important role in determining whether to grant additional Venture Capital or not. VC funds are often created by a pool of money that is collected from other investors rather than initiating funds themselves. 

Why do VCs take the risk? 

Why would VCs take a risk in investing in new companies? The answer is “higher returns” ROI. Due to the high-risk VCs take, it is not uncommon for them to look at investments that will provide the potential of 10x returns or more. If a start-up shows low growth potential it’s unlikely to attract venture capital for this reason.

Which companies are part of VC? 

The venture capital fund is created with a significant amount of funds. The contributors to venture capital funds are often different organisations, including insurance companies, foundations, pension funds, and other organisations seeking to maximize their investments. High-net-worth individuals can often make contributions to VC funds.

How does Venture Capital work? 

A venture capital firm consists of different roles. However, a complete breakdown can help you understand the position of each role. 

Associates 

The associates are a part of the venture capital structure because they have a sufficient experience with finance and consultation. They also work to analyse business models and industry trends to understand which start-ups or new businesses will be fruitful for the investors and their firms. However, the associates are not involved in the decision-making processes. 

Principal

A principal is generally a mid-level professional who is responsible for smooth processes and also ensures that there are no bottlenecks. However, a principal is also responsible for analysing opportunities which will help the organisation make the right decisions and negotiations. 

Partners 

Most importantly, partners identify areas that are better for investment. They understand which organisations can create profit and benefits and which organisations can not. 

What are the types of VC? 

There are three different types of VC: 

Angel investors

Angel investors refer to private investors who are willing to invest in a new start-up or company to gain revenues and get equity in the business. This way, the investor can become a part of the company and share profits. 

Financial VCs 

Financial VCs are popular because they invest in start-ups and fund them to become larger organisations. They also create opportunities for businesses to expand and become huge giants. There are various success stories linked with financial VCs. 

Strategic VCs 

Strategic VCs are more concerned about organisational performance and results, and that’s why they evaluate the balance sheet of a start-up or company and then invest if they can calculate revenues and growth. 

What is the most important thing in VC? 

The most important thing in VC is the evaluation criteria. A venture capitalist will judge your organisation on its results and performance. They will also look for strong and thoughtful leaders who can handle tough situations. That’s why if you are a new start-up, you need to focus on your performance to obtain venture capital. 

Downsides of Venture Capital

One of the main downsides of venture capital is the issue of control. A VC will want to see a large return on his investment and to achieve this there may be pressure on the founders to conform to ideas that are counter to their original strategy. VCs will want to protect their investments and any major decisions will need the ‘OK’ from the venture capitalist.

All in All

Venture capital can be a great way for start-ups to expand. However, it should be noted that VCs will want a return on their investment and often will have a say in how you run your company moving forward. The large injection of cash that a VC can provide, can catapult the start-up to new heights. Founders should be certain that VCs they choose to work with are the right fit for their future business goals.

Are you looking for investors?

Check out Pop Up World’s Investor Connector. Blast your Pitch Deck to over 800 VCs and Angel Investors Worldwide! Visit https://popupworld.co.uk/investorconnector-landing

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

Start-Up Manual – Business Zero To Superhero – by Graham Jules

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

***Disclaimer: This article is not financial advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

Pop Up World Token

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is one to watch for the future.

You can also support this blog and exciting start-up projects worldwide by joining our Cardano Stake Pool (PUWSP). For more information go to https://popupworld.co.uk/popupworldstaking

Staking Cardano

Staking Cardano is a process where holders of the cryptocurrency (ADA) delegate their coins to receive rewards from the network. The massive advantage of staking in Cardano is your ADA never leaves your wallet. Your ADA is 100% safe. In this article we look at how this works in practice.

What is Cardano?

Charles Hoskinson – Cardano Founder

If you are new to cryptocurrency you are probably wondering what is Cardano? In short, Cardano is a Proof of Stake (PoS) blockchain launched in 2017 by ex-Ethereum co-founder Charles Hoskinson. Much like more established currencies such as Bitcoin (BTC), transactions are stored in a digital ledger (called a blockchain).

Unlike Bitcoin, however, transactions are not verified by CPU intensive computer ‘miners’ running complex algorithms to receive rewards. Instead Cardano considers the amount of stake (ADA) delegated to node operators (Stake Pools) to dictate the amount of rewards that can be distributed to each pool. As a result, Cardano is often considered a less power intensive crypto, with greater ‘green’ credentials.

Security

As mentioned earlier in this article, the unique feature of Cardano is that a user does not have to send their ADA crypto anywhere to delegate to a specific pool. The ADA remains in the user wallet the whole time and there’s no need to lock up your ADA for any specific period of time.

In fact, you can spend your ADA if you wish shortly after delegating. You remain in full control. You are only recording a vote or a record of your desire to stake with that particular pool. You do not need to trust the stake pool to delegate to it as you are not sending your ADA. Of course, reducing your ADA staked may mean your rewards will be reduced.

Rewards

The amount of rewards you get will depend on the individual stake pool operator. The stake pool operator will set the amount of fees and margin that is available to delegates. Each stake pool will usually advertise their current yield.

Roughly every five days (called an Epoch) the protocol will distribute 0.3% of its reserves to active pools that have successfully completed blocks on the blockchain. These rewards are shared by all delegates on each pool proportional to the amount of ADA staked.

In this way, staking is a great way to make some passive income from your ADA with practically zero risk. Typical rewards are from 0-5% per annum. Some pools offer additional rewards for staking such as additional tokens or NFTs. Usually these additional rewards will be delivered via smart contract or manually via the stake pool operator themselves. Currently Cardano has no provision to distribute native tokens via the protocol

How to Stake?

Staking on Cardano is very easy. The process is as simple as logging in to your Cardano compatible wallet such as Yoroi or Eternl, clicking on a dropdown and selecting the pool you wish to delegate to.

In Yoroi for example, simply click “Delegation’ in the top right hand corner.

It should be noted that the Nami wallet currently only allows delegation to its own pool.

The ROA (Return of ADA annualised) is displayed, as are the costs associated with each particular pool. Then, just browse or search for the pool you wish to delegate to and select ‘Delegate’ and that’s it!

Staking on a Centralised Exchange

Some centralised exchanges like Binance or Coinbase, for example, offer staking rewards via their platforms. Users should be careful of using such options as it means you will need to keep your ADA stored on that particular exchange. In this case the exchange has control of your ADA and is staking them on your behalf. If the exchange were to go bankrupt you could lose all your ADA and your rewards.

Staking on Cardano is so easy there really is no excuse not to stake directly with the stake pool operator via your wallet. That way you are 100% certain your ADA is safe since it remains in your wallet at all times.

Final Thoughts

Staking Cardano is very straight forward. Even a beginner to crypto should be able to stake their ADA with minimal risk. However, care should be taken to retain control of your ADA by only staking via the delegation list in your preferred wallet. Staking via a centralised exchange adds risk to the process as you do not retain control of your ADA.

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

Processing…
Success! You're on the list.

Review. Convincing Crypto – English

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Pop Up World Token

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is one to watch for the future.

Supporters can also earn rewards by staking in the Pop Up World Stake Pool (PUWSP). Delegators to the pool receive 40% of the rewards should we mint a block. The remaining 60% will be used to support exciting new start-ups and projects on the platform. https://popupworld.co.uk/popupworldstaking

Click here to Earn rewards by staking

***Disclaimer: This article is not financial or legal advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

What Can Entrepreneurs Learn from Disgraced Kanye West?

Kanye West also known as Ye is a controversial rapper come businessman that has recently been cancelled due to his antisemitic comments, including the praising of Adolf Hitler. In this article, we look at what, if anything can be learnt by entrepreneurs from the apparent downfall of the once multi-billionaire, Ye, formerly known as Kanye West.

Negativity drives clicks

When Kanye West who once had an estimated net worth of $6.6 billion, sat on Alex Jones’ show Info Wars last week and pronounced his love for Hitler the expected reaction should be repulsion and rejection of the celebrity.

Unfortunately, we live in an age where clicks are everything and rather than switching off, eyeballs continued to follow the car crash and implosion of Kanye West online.

A flurry of articles and YouTube videos followed the outrage and millions if not billions of clicks were generated. Social media ‘influencers’ like Kanye West, and others understand our inane need for negative stories and drama.

They understand that a negative headline will usually generate more clicks and drive more attention. In today’s digital age, attention is the new currency.

Unfortunately, celebrities like Kanye have to stoop to ever-decreasing lows to get that attention as the digital race is only won by those in the top 1% of trending topics online.

Fortunately, we do not need to go to extremes to learn from this. Headlines like, Why 90% of entrepreneurs fail”, will always do better than “Why 10% of Entrepreneurs succeed”, bear this in mind when promoting your venture.

Unfortunately, it’s just the way we human beings are wired. Most of us are averse to loss, so are more likely to respond to news that may impact us negatively rather than positively.

It’s important to understand that our words have a powerful energy. If we choose to embrace the negative aspects too much, do not be surprised if negativity follows.

Contracts are important in business

Kanye appears to be blaming the entire Jewish community for his failings as a businessperson. He claims he has been treated harshly by the business practices of members of this community.

Unfortunately, Kanye seems to forget that these individuals helped him make billions of dollars and is now aggrieved as the contracts he signed, he no longer considers appropriate.

Come on Kanye, you are better than this. If you truly have a problem with the business practices of associates or any contracts you have signed you should be prepared to prove it via the legal system and claim damages for such malpractices.

Of course, such action is likely to be expensive but if you are convinced and have the relevant evidence you should win hands down.

What can entrepreneurs learn? Firstly, ensure you have a contract for all agreements, and avoid doing business on a ‘handshake’. Secondly, read all your contracts even if you have a legal team. No point complaining after the event when you realise you have signed away your rights.

Thirdly, be prepared to take action if someone infringes the contract or goes against what was agreed. Taking action doesn’t mean you sling mud and hatred via Twitter, it means contacting the party in private to discuss the discrepancy and trying to correct the problem before any legal action takes place.

Don’t pronounce yourself a genius – even if you are one

Kanye West is no doubt a highly talented musician and gifted marketeer. However, his fixation with his self-proclaimed ‘genius’ could lead to his ultimate downfall.

We’ve seen this behaviour before, most recently from multi-billion dollar crypto failure Sam Bankman-Fried, another self-proclaimed ‘genius’ who went on to lose in excess of 20 billion dollars of user funds. We’ve also seen similar behaviour from the Theranos ‘genius’ Elizabeth Holmes, who is now looking at over a decade in prison.

Real geniuses do not parade their intelligence like badges worn to impress their peers. True geniuses observe and act to inevitably show real results. They do not orate hollow words that are designed to titillate our base emotions and short-term expectations.

Come on Kanye, how many record labels have you formed to help up-and-coming music acts? How many businesses of black origin have you invested in and nurtured? How many businesses of any origin have you invested in and nurtured? The point is real geniuses act, and change the lives of others not just their own lives or the lives of their immediate family.

What can entrepreneurs learn? Do not go into entrepreneurship just for the accolades. Your main concern should be to grow your business and make life better for your users.

Put your money where your mouth is and invest in your business and community. Of course, you need to make money but don’t make the mistake of thinking that having money instantly makes you a ‘genius’. Hubris is a mistake geniuses simply do not make.

Thanks!

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Pop Up World Token

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is one to watch for the future.

***Disclaimer: This article is not financial advice and is given for informational purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

Pop Up World token has a growing ecosystem.

Pop Up World YouTube Reviews:

Review. Malik Atif – Hindi -Urdu

Review. Inside Crypto – Hindi – Urdu

Review. Convincing Crypto – English

The Pop Up World Token is designed specifically for entrepreneurs, to store value and to utilise on our platform Pop Up World. Join the revolution in financial freedom today.

The Pop Up World Token on Cardano

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem

Earn and help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

Thanks!

Want to learn how to stake on Cardano? Read this article:

How to stake on Cardano

Is Crypto Dead?

With multiple exchanges going bust, we ask the question. Is crypto dead?

FTX, Voyager, Celsius and 3 Arrows Capital, are just a few of the cryptocurrency companies that have gone under in this harshest of crypto winters. If you are unaware of the FTX debacle you can read more about that here.

But does this mean crypto lies face down in the snow? The answer is probably no. Although the decimation of crypto is likely to continue in the short term, long-term prospects remain favourable, especially for established players like Bitcoin (BTC). Here’s why:

We’ve seen it before

Bear markets have happened numerous times since the launch of Bitcoin way back in 2009. In 2011 the price of Bitcoin fell from $32 to an astonishing $0.01. This dramatic fall could be attributed to the collapse of a cryptocurrency exchange called Mount Gox. The similarities are obvious. Of course, with hindsight, we know crypto rebounded dramatically following this first bear market crash.

Bitcoin has subsequently been faced with four further bear markets the most recent has seen Bitcoin plunge from all-time highs of $68,000 to under $17,000 in 2022. All other coins or altcoins tend to follow the rise and fall of Bitcoin, so if Bitcoin falls, all altcoins will fall too.

The macroeconomic climate

Interest rate rises, wars and global recessions have a contracting effect on world markets. As a result, fewer funds are sloshing around to invest in stocks and other asset classes like Bitcoin. Investors tend to gravitate towards security in recessions. The net effect is that most asset classes like Bitcoin will fall during times of recession.

Assets classes like property, gold or even fine art may rise in uncertain markets as investors flock to less risky bets. However, once the market recovers, investors will again be looking for higher returns on their investment capital.

The supply of Bitcoin is limited

Bitcoin is limited to 21 million Bitcoins. This means that in theory, as more people buy into the coin the coin becomes more scarce leading to an increase in price. Bitcoin’s creator, the mysterious Satoshi Nakamoto built this into the network deliberately to ensure that Bitcoin would be an appreciating asset. As we discussed earlier other coins are also likely to rise if Bitcoin reaches new highs.

The Bitcoin halving

Miners use powerful computers to complete cryptographic puzzles that verify transactions on the blockchain. Miners are rewarded in Bitcoin for completing such puzzles.

The Bitcoin blockchain incorporates an event called the halving. Halving effectively means that the rewards that Bitcoin miners receive for mining Bitcoin will be halved in value. The halving event occurs roughly every four years with the next occurring in 2024.

Halving has the effect of reducing the amount of new Bitcoin being produced and therefore has the effect of pushing the price of Bitcoin upwards. The final halving will be in 2140 when the maximum 21 million Bitcoins will have been produced by the blockchain.

Final thoughts

As we can see cryptocurrencies like Bitcoin have processes ‘baked in’ that should ensure the price appreciates over time. However, we should be careful to not assume that this will automatically result in an increased price.

Following the recent collapse of numerous centralised exchanges, regulation may be put in place to limit the progress of crypto.

Also, consumer confidence in crypto may wane for several months or even years due to the much-publicised bankruptcies.

As always, care should be taken when investing in crypto and you should never invest more than you are prepared to lose. Do your own research and ensure you do not hold your crypto on a centralised exchange.

Please note this article is not financial advice and is for information and educational purposes only. As always, you should carry out your own research when considering investing in cryptocurrency. Prices can go down as well as up.

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

Pop Up World Token

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is one to watch for the future.

***Disclaimer: This article is not financial advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

Pop Up World YouTube Reviews:

Review. Malik Atif – Hindi -Urdu

Review. Inside Crypto – Hindi – Urdu

Review. Convincing Crypto – English

The Pop Up World Token is designed specifically for entrepreneurs, to store value and to utilise on our platform Pop Up World. Join the revolution in financial freedom today.

The Pop Up World Token on Cardano

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem

Earn and help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

Thanks!

Want to learn how to stake on Cardano? Read this article:

How to stake on Cardano

Processing…
Success! You're on the list.

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

What Can We Learn from the FTX and Sam Bankman-Fried Fiasco?

As cryptocurrency crashes further in this painful bear market another major player in the crypto industry has collapsed.

FTX, the second largest crypto exchange run by tech ‘whiz-kid’ Sam Bankman-Fried (SBF), who has been lauded as the next J.P Morgan spectacularly fell from grace late last week losing billions of dollars in the process.

What can we learn from all this drama?

Here goes…

The collapse of FTX and its CEO, Sam Bankman-Fried is probably the largest implosion in crypto history. It follows close on the heels of bankrupt exchanges Celsius, Voyager and others.

It’s reported that Bankman lost 94% of his wealth approximating 16 billion dollars. Customers were prevented from withdrawing from the once popular exchange late last week after the founder of Binance indicated that he would dump several millions of FTX’s tokens due to alleged financial irregularities at FTX, including alleged misappropriation of client’s funds.

This caused a major ‘bank run’ that led to liquidity problems at FTX and eventually its collapse.

Rumours of fraud at the company and a hack that drained customer wallets of millions of dollars of crypto followed leading to millions of FTX users being locked out of their wallets, and their life savings drained.

Given this situation, it’s easy to proclaim that crypto is a scam and tarnish the whole industry. Celebrity investors such as Kevin O’Leary of Shark Tank lost undisclosed sums in FTX and is publicly clamouring for regulation of the crypto industry.

O’Leary claims that he will still invest in crypto but tighter controls are needed. But is there a clear way forward for entrepreneurs and wannabe investors in crypto? What can we learn from this?

Differentiate between Centralised and Decentralised.

This point cannot be ignored. If we take a look at many of the crypto businesses that have collapsed recently; FTX, Voyager, Celsius, BlockFI and more. Do they have one thing in common? Yes, they are all centralised entities.

This is important since centralisation goes totally against the ethos of cryptocurrency. They simply attempted to create a digital version of the current financial system, where a single organisation or individual acts as custodians for your finances much like a bank.

These firms are not true cryptocurrency ventures and simply collect your crypto to gamble with on the markets with the promise of high rewards.

A true cryptocurrency venture should be decentralised, in that multiple operators should have a stake in running the blockchain and no one individual should be able to easily pump or control your assets.

The entities or individuals involved should not have direct access to your crypto and any crypto transferred to the entity should be locked in a smart contract that cannot be changed by the entity.

The fiasco with the above-named companies would simply not happen in a truly decentralised environment (DeFi) notwithstanding a major hack.

What can we learn? Understand the difference between DeFI (Decentralised Finance) and CeFi (Centralised Finance). Understand that centralised finance in crypto is so much riskier in an already risky marketplace. FTX, Voyager et al, are all centralised companies. DeFi is not foolproof but unless there is a major hack or flaw in the code your crypto should be safe.

Not your keys, not your crypto.

This is the mantra that is repeated over and over again. But it needs to be said once again. If you do not have the keys and passphrases to the wallet holding your digital assets, they are not yours!

It really is that simple. Set up a digital wallet to hold your crypto yourself or even better a hardware wallet, often known as cold storage.

Remember, this is the whole philosophy of crypto, that the common man and woman can take control of their finances.

Do not give that control away by simply depositing your crypto in a ‘convenient’ centralised exchange.

What can we learn? Stay clear of any centralised entities that claim to store your crypto on your behalf. The whole point of crypto is that you store your assets yourself in your own digital wallet.

Anything less is simply a disaster waiting to happen. If you insist on using centralised exchanges to purchase crypto, transfer out those assets immediately.

Do your own research.

YouTubers such as Graham Stefan , Andrei Jikh and others are coming under heavy fire for promoting FTX and other bankrupt exchanges such as BlockFi.

These YouTubers are heavily sponsored by companies and are not operating in your best interests. If a great project comes along they are unlikely to promote it unless there is a huge fee attached.

They pump companies for a fee (sponsorship) and claim that they care for their subscribers but it’s clear they do minimal research and there is an obvious conflict when large sponsorship fees are available.

Yes, these guys need to make a living, we get it but you should not trust your life savings on the advice of a YouTuber, that is simply financial suicide.

A simple search on Sam Bankman-Fried in Google will show that the so-called ‘genius’ has done nothing notable prior to FTX.

How does someone with no history of entrepreneurship create a billion-dollar business in 3 years? That alone should be a major red flag. Where exactly did his money come from?

Another search on Daniel Friedberg an executive at FTX, shows he was linked to an online poker scandal, Ultimate Bet’s in 2008.

What can we learn? Google is your friend. Research any founders and key people. Simply typing their name in Google and looking back in history should give you a timeline of any of the founders.

Go back a couple of years to find out if they have any history prior to the new venture. If not why not? It’s practically impossible to do anything of note and not have any press, articles or news these days.

Do not rely on LinkedIn or social media as rogue founders can post whatever information they want there.

Final thoughts

If you have invested and lost money in any of the failed crypto companies mentioned we are truly sorry.

Remember, the philosophy of cryptocurrency is that you should retain control of your funds at all times. Please do not beat yourself up too much if you have lost money on FTX.

Heavyweight institutional investors such as NEA, IVP, Iconiq Capital, Third Point Ventures, Tiger Global, Altimeter Capital Management, Lux Capital, Mayfield, Insight Partners, Sequoia Capital, SoftBank, Lightspeed Venture Partners, Ribbit Capital, Temasek Holdings, BlackRock and Thoma Bravo have all seen their investment in FTX go to zero.

If crypto is to thrive we need to do better and invest in projects that are genuinely great projects and not invest in projects that are all hype and empty promises.

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

Start-Up Manual – Business Zero To Superhero – by Graham Jules

***Disclaimer: This article is not financial advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

Pop Up World YouTube Reviews:

Review. Malik Atif – Hindi -Urdu

Review. Inside Crypto – Hindi – Urdu

Review. Convincing Crypto – English

The Pop Up World Token is designed specifically for entrepreneurs, to store value and to utilise on our platform Pop Up World. Join the revolution in financial freedom today.

The Pop Up World Token on Cardano

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem

Earn and help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

Thanks!

Want to learn how to stake on Cardano? Read this article:

How to stake on Cardano

Processing…
Success! You're on the list.

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Pop Up World Token

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem and is definitely one to watch for the future.

Please note this article is not financial advice and is for information and educational purposes only. As always, you should carry out your own research when considering investing in cryptocurrency. Prices can go down as well as up.

Here are Three Common Naming Errors That Can Set Your Business Back – And How to Avoid Them

Not many entrepreneurs realise that all the effort they’ve put into developing their brand can be destroyed by one mistake, particularly one involving the brand name they choose. Undoubtedly, choosing an inappropriate brand name is among the worst things you can do to your company. 

This is because your brand’s personality is formed and shaped by your company name. Therefore, you must ensure your brand’s name appropriately conveys your business’s principles. 

The good news is that you can quickly choose a catchy name for your brand by using a brand name generator, name crowdsourcing, or brainstorming. 

But whichever naming strategy you use, be careful and steer clear of the following naming blunders that can easily damage the reputation of your business.  

  1. Easily Misunderstood Names 

Customers are more likely to purchase from a business if it shares similar political, cultural, and environmental views. And it’s no secret that the average person has strong opinions on delicate social topics and is likely to keep buying from a business that feels the same way. 

And although lots of entrepreneurs are embracing edgy marketing, if your company decides to focus on these issues, even if it’s in your company’s promotions or messaging like Gillette, you’ll eventually end up excluding a significant portion of your core audience because people who oppose the causes you actively support are always less likely to buy your goods or use your services. 

Avoid using names like ‘Spank Me Santa Lipstick,’ ‘Druggie,’ or ‘Pee Cola’ when choosing your brand or product names since they are likely to evoke negative images in the minds of your target audience. 

  1. Extremely Long Brand Names 

We urge businesses to avoid names like ‘WeAretheSuperlativeConspiracy,’ ‘Troglodyte Homunculus,’ ‘Aeropostale,’ and ‘Euymhod,’ as these words are unnecessarily difficult for the average customer to easily pronounce or remember when surfing the web.  

Picking a long or complex name will affect your brand’s referral because many customers will struggle to remember your company’s name, and that’ll affect whether they’ll recommend it to their friends and family. If you must pick a lengthy name, consider abbreviating it, like H&M, EOS, IBM, and 3M did. 

Make it your main priority to come up with short, distinctive, and memorable names for your company because 80% of customers forget about brand names within three days. Not to mention that short and unique names capture clients’ attention more quickly than long, intricate ones. 

  1. Weird Translations 

Establishing a captivating online presence for your company can allow customers from all over the world to contact and engage with your brand. Nevertheless, it has its downsides. Choosing a brand name with a different meaning in a foreign language is one of them.  

And that’s because if your company’s name is insulting in the local language of your target market, your potential clients will be reluctant to use your goods or services. This was demonstrated when two well-known products, Mazda’s Laputa and Nokia’s Lumia, were rejected by Spanish-speaking customers because their names, respectively, translated to ‘prostitute’ in Spanish. 

When searching for the best name for their company, business owners shouldn’t limit their linguistic research to just one language. Make sure you only choose a brand after conducting a comprehensive analysis across the main languages in the industry you’re aiming to penetrate as well as the key languages spoken around the world. 

Choosing a name with a pleasant translation will ensure that your selected name will be well-liked by your global customers.  

Prioritise Your Clients 

Companies that put profit front and centre instead of their audience soon lose customers because no one wants to do business with a company they believe is not interested in creating modern and unique solutions to their problems.  

The ideal method to position your brand is to choose a name that has been tested thoroughly, has positive connotations in the language of your target market and is easy to say and find online. If you pick a superb name, you won’t need to rename your business after a few years. 

Grant Polachek is the head of branding for Squadhelp.com, 3X Inc 5000 startup and disruptive naming agency. Squadhelp has reviewed more than 1 million names and curated a collection of the best available names on the web today. We are also the world’s leading crowdsource naming platform, supporting clients from early-stage startups to Fortune 500 companies. 

If you enjoyed this article please remember to like and subscribe for regular entrepreneur news on Pop Up World. Feel free to visit us at https://www.popupworld.co.uk

Thanks!

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).

Pop Up World Token

Start-Up Manual – Business Zero To Superhero – by Graham Jules

Read about the full ‘Alien Agenda’ in an exciting Sci-Fi – Illustrated Screenplay Format Book – Limited edition copies available on Amazon. Virtual Heaven (Back to Reality) – by Graham Jules.

Virtual Heaven (Back to Reality) – By Graham Jules – The Secret Agenda Confirmed

Pop Up World token has a growing ecosystem and is one to watch for the future.

Introduction to Pop Up World

***Disclaimer: This article is not financial advice and is given for informational and entertainment purposes only. Readers should conduct their own research and not invest more than they can afford to lose. Crypto is extremely volatile, and as such can drop in value considerably without notice. Pop Up World has a global presence and is not specifically targeting any jurisdiction with its content. Any crypto references are not intended for UK businesses or consumers. You should always seek legal advice to understand if the use or investment in crypto is allowed in your jurisdiction.

Pop Up World YouTube Reviews:

Review. Malik Atif – Hindi -Urdu

Review. Inside Crypto – Hindi – Urdu

Review. Convincing Crypto – English

The Pop Up World Token is designed specifically for entrepreneurs, to store value and to utilise on our platform Pop Up World. Join the revolution in financial freedom today.

The Pop Up World Token on Cardano

Get the token on Cardano Decentralised Exchanges (DeXs), MuesliSwap, SundeSwap, Wingriders and Minswap. Or click the link here:

Get Pop Up World Token

Pop Up World token has a growing ecosystem

Earn and help support the Pop Up World Blog and entrepreneurs worldwide by joining our Pop Up World Stakepool! Go to https://popupworld.co.uk/popupworldstaking

Thanks!

Want to learn how to stake on Cardano? Read this article:

How to stake on Cardano

Processing…
Success! You're on the list.

It starts with an idea. Pop Up World is a platform that helps start-ups and small businesses reach for the stars. No matter what size you are. Use our start-up guide Business Zero to Superhero, Design your Logo. Connect with investors via our Investor Connector. You can start a Website and Domain name. You can Search for and promote your Premises. You can promote your idea for free on our Pop Up World Ads site, you can even form a Limited Company You can also join us on our journey via the Pop Up World Token (PUW).