If you want to earn passive income and support a web3 community, you can setup a Streamr node and achieve both! This open-source project is a fun way to get started with a growing community and will allow you to earn a very high APY in return.
What is Streamr Network?
Streamr Network is an open-source project that aims to provide a platform and tools for people who create real-time data to own and trade it. They plan to create a peer-to-peer network that can transport real-time data globally. This platform will include a data marketplace and data unions that allow for aggregated trading of data produced by individuals. Additionally, they offer a core app and other tools that make it easy for individuals, organizations, and machines to process and distribute data.
Do you need a VPS to run a node?
No, you can run a node on anything from Raspberry Pi to an old windows PC. This node doesn’t use a lot of resources and doesn’t use a lot of bandwidth at the moment. I have a guide for running this node on a Windows PC, and I plan to make one using raspberry pi. In this guide, we use a VPS because we are looking at the most stable solution to earn the maximum return available. I’ve chosen Vultr because they have many servers globally and are meager cost, but excellent alternatives I’ve used are Racknerd, DigitalOcean, and Upcloud.
Steps to Setup A Streamr Node
Before we begin, you want to ensure the device or host you use meets the minimum hardware requirements.
- 512 MB of RAM
- 1 CPU core
- 500GB of bandwidth
- 1 public IP address
Login to your VPS and obtain your IP address, username, and password. Next, use a telnet client like Putty to log in to your VPS using the user credentials. Once you are logged in, we will run a series of commands below.
If docker is not installed, you must ensure this is done first.
curl -fsSL https://get.docker.com -o get-docker.sh && sh get-docker.sh
Create Streamr folder
These commands will create a folder for the Streamr node and change the permissions. This folder will contain the configuration file, which it will be accessed later to insert our wallet address.
sudo chmod -R 777 ~/.streamrDocker1*/
Run configuration wizard
Next, is the configuration wizard. You can accept all the default options by hitting the enter key at each prompt. When you are presented with the private key ensure you copy this key and store it in a secure location.
docker run -it -v $(cd ~/.streamrDocker1; pwd):/home/streamr/.streamr streamr/broker-node:latest bin/config-wizard
Add your wallet address
Now we are going to add our wallet address to the configuration file. You can use any wallet that is on the Polygon network that is holding the DATA token. You can watch this guide if you do not have any DATA tokens, and I will walk you through the steps. The DATA tokens can be purchased on Kucoin, Binance, and few other exchanges. You can stake up to 20,000 DATA tokens per node to maximize profitability.
To edit the config file run this line:
In the editor, we want do move the cursor down to ” “brubeckMiner” and in between the brackets we’ll add a new line.
Then add the text
Replace “0xMY_PUBLIC_KEY” with your own wallet address. Ensure that the quotations and brackets remain in place.
Hit CTRL+O to write and save changes, then CTRL+X to exit.
Start your node
This is the last line that you need to run. This will start your node, and automatically restart if your VPS or computer restarts.
sudo docker run --name streamr1 --restart unless-stopped -d -v $(cd ~/.streamrDocker1 && pwd):/home/streamr/.streamr streamr/broker-node:latest
That’s all you need to do to setup a Streamr node! A great tool to check the status of your node and check your earnings is Brubeckscan. Just add your wallet address, and you can track everything from there.
VIDEO: Setup A Streamr Node
I know this might get a little complicated for users that haven’t setup a VPS or a node before. So here is a video guide where I walk you through each step.
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