XEP Desktop Wallet: Unlocked vs locked

The only way to receive XEP staking rewards is by using the XEP Desktop Wallet. Once you have it running, be sure that you have enough XEP holdings in order to be selected for block validation. The more XEP coins you have, the easier it is to be selected. Important: You only participate in the XEP staking process if you keep your wallet unlocked.

In the “Settings” menu, select “Unlock Wallet”. This will proof ownership of your coins to the proof-of-stake blockchain. At the same time this does not open any negative security implications: your coins are as secure as with keeping the wallet locked.

For Pro wallet, just click on the account padlock you want to unlock and enter your password. Pro wallet will show the account labelled as “staking”.

Be sure that you also fulfill all other technical requirements in order to be able to receive XEP staking rewards.

There may be reasons when you do not want to keep your wallet unlocked, for example when you do not want to earn staking rewards. In such a situation it is also advised to be connected to the Electra Protocol network using an unlocked wallet, because each wallet is a bridge to the network. This way the wallet can at least relay a message from the connected peers (the message is the transactions entries of the mempool before to be included in a block).

That’s why you should keep the XEP Desktop Wallet up and running as long as you can (24/7, if possible).