NYM is a privacy-centric blockchain network that allows you to run a node and earn rewards by providing privacy-enhancing services. In this tutorial, we’ll guide techies on how to set up and run a NYM node and start earning rewards.
Prerequisites
1. Basic knowledge of blockchain technology.
2. A server or virtual machine running Linux (Ubuntu recommended).
3. Access to the command line interface.
NOTE:
Before embarking on the setup process for your mix node, gateway, or network requester, there are a few essential steps that must be completed like building the codebase, setting up your wallet and getting a VPS (virtual private server). It is talked about in more detail here
Steps
1. Run the preliminary steps outline in the note above.
2. To initiate the process, navigate to the /target/release directory, from which you will execute the node commands.
cd target/release
3. Initialize your mix node. To examine the available configuration options for initializing your node, you can use the following command:
./nym-mixnode init --help
Initialize your mixnode with the following command:
replacing the value of --id with the moniker you wish to give your mix node. Your --host must be publicly routable on the internet in order to mix packets, and can be either an Ipv4 or IPv6 address. The $(curl -4 https://ifconfig.me) command returns your IP automatically using an external service. If you enter your IP address manually, enter it without any port information.
4. Fund Your Node. Before you can earn rewards, you’ll need to bond some NYM tokens to your node.
You can bond your mix node using the Desktop wallet.
- Open your wallet and navigate to the Bond page.
- Choose the node type "Mixnode" and provide your node details.
- Click "Next."
- Enter the Amount, Operating cost, and Profit margin.
- Click "Next" to proceed.
You will be asked to run a the sign command with your gateway - copy and paste the long signature as the value of --contract-msg and run it.
v
Copy the resulting signature and paste it into the wallet nodal, press Next and confirm the transaction.
5. Monitor Your Node. Use the NYM Dashboard to monitor the status of your node and view your earnings. Access the dashboard at `http://YOUR_PUBLIC_IP:9000` in your web browser.
6. Earn Rewards Your node will automatically participate in the NYM network and provide privacy services. As a reward, you’ll earn NYMs for your contributions.
7. Troubleshooting and Maintenance. Regularly check your node’s status, update the Docker image, and perform any necessary maintenance to ensure optimal performance and earnings.
8. Withdraw Rewards. To withdraw your earned NYMs, follow the withdrawal process described in the NYM documentation. You’ll need a NYM wallet to receive your rewards.
Conclusion
By following this tutorial, you can set up a NYM node, contribute to the NYM network, and earn rewards for providing privacy-enhancing services. It’s a great way for techies to support and benefit from the NYM ecosystem while promoting online privacy and security.
