Nav Coin on Rasp­berry Pi

Custom PC - - CONTENTS -

Gareth Hal­facree shows you how to earn money by set­ting up a Rasp­berry Pi as a Nav Coin stake box.

The boom, bust and boom again of cryp­tocur­rency Bit­coin – which, at the time of writ­ing, sat well north of £7,000 a piece – has had two ma­jor im­pacts on the world. The first is that it made a bunch of crypto-nerds – my­self, sadly, not in­cluded – ex­tremely wealthy. The sec­ond is that it in­tro­duced blockchain tech­nol­ogy to the world, and lots of peo­ple have taken the con­cept and ran with it. There are hun­dreds of com­pet­ing cryp­tocur­ren­cies around, but one in par­tic­u­lar has caught my in­ter­est: Nav Coin.

Launched in 2014, Nav Coin aims to avoid the cen­tral­i­sa­tion is­sues that have dogged Bit­coin by switch­ing from a proof-of-work (POW) model, re­quir­ing vast banks of high­pow­ered com­put­ing hard­ware, to a proof-of-stake (POS) model, re­quir­ing noth­ing more than a Rasp­berry Pi or sim­i­lar low-pow­ered sys­tem. It earns hold­ers a 5 per cent ‘in­ter­est’ rate in ex­change for host­ing a node, and set­ting one up is pretty straight­for­ward if you have a Pi 2 or Pi 3 ly­ing around.

1 Flash NavPi

Head to https://nav­coin.org/down­loads and grab NavPi v1.0.3 us­ing the Tor­rent links (be­cause the ‘Di­rect Down­load’ link will take you to Mega.nz and de­mand money.) Grab an 8GB or larger mi­cro-SD card and flash the im­age us­ing your favoured method – Etcher, avail­able from https://etcher.io, is a great cross-plat­form im­age writer if your own op­er­at­ing sys­tem lacks na­tive im­age han­dling ca­pa­bil­i­ties.

When the im­age has flashed, which shouldn’t take too long, insert the mi­cro-SD card into your Rasp­berry Pi and con­nect a key­board, mouse and dis­play; the im­age comes with SSH and desk­top shar­ing dis­abled, so you’ll need these parts for the con­fig­u­ra­tion process after which they can be safely dis­con­nected.

2 Lock down the Pi

Your Rasp­berry Pi will host your wal­let, con­tain­ing the pri­vate key with which your

funds can be un­locked, which you nat­u­rally need to pro­tect to the best of your abil­i­ties – hence SSH be­ing dis­abled by de­fault. Let the Pi boot up, then open a ter­mi­nal with Ctrl-Alt-T. Start by chang­ing the de­fault pass­word of navpi101to a more se­cure pass­word: passwd

Next, en­sure all the soft­ware is up to date: sudo apt up­date && sudo apt up­grade

3 Gen­er­ate a cer­tifi­cate

To keep your traf­fic to and from the wal­let se­cure, re­gen­er­ate the SSL cer­tifi­cate. You’ll be asked a va­ri­ety of ques­tions dur­ing this process; as it’s a self-signed cer­tifi­cate, you can safely leave these fields blank.

sudo openssl req -x509 -nodes - days 3650 -newkey rsa:2048 -out / etc/apache2/ssl/navpi-ssl.crt -key­out /etc/apache2/ssl/navpissl.key

You’ll also need to re­boot to load the new soft­ware and cer­tifi­cate: sudo re­boot

4 Con­fig­ure the wal­let

When your Pi re­boots, you can safely dis­con­nect the key­board, mouse and dis­play. Open your web browser and visit rasp­ber­rypi. lo­cal; you’ll see a se­cu­rity warn­ing, as the self­signed cer­tifi­cate doesn’t come from a trusted author­ity. Con­firm you want to visit the site and the web wal­let will load.

Un­lock the wal­let with the pass­word nav, then click on Con­trol and find the Change UI Pass­word but­ton in the Server sec­tion. Choose a long, se­cure pass­word, con­firm it, and log back in. Fi­nally, en­ter a dif­fer­ent but no less se­cure pass­word in the En­crypt Wal­let box of the Se­cu­rity sec­tion. Make sure you store the pass­word safely; if you for­get it, your funds are gone for good.

5 De­posit coins

As a proof-of-stake sys­tem, your Nav Coin node doesn’t need masses of com­pu­ta­tional power to earn you re­wards. It does, how­ever, need a stake – a value of Nav Coin on which you’ll earn the 5 per cent in­ter­est re­ward. Click the Nav Coin logo to go back to the main screen and scroll down to find your mail wal­let ad­dress. Copy this ad­dress, then visit https://is.gd/navchange to ei­ther buy Nav Coin in ex­change for US dol­lars, or to con­vert an­other cryp­tocur­rency, such as Bit­coin, into Nav Coin. When asked for a wal­let ad­dress, paste your main wal­let ad­dress into the field, but make sure you copy the whole ad­dress or your coins will van­ish into the ether.

When the coins ar­rive, check that the main page shows the wal­let is un­locked for stak­ing, and scroll down to the Stake Re­port sec­tion for de­tails on how much Nav you’re earn­ing.

6 Back up

So you don’t lose your pre­cious cryp­tocur­rency in the event that the Rasp­berry Pi eats your SD card, you’ll want to back up the wal­let. Click Con­trol, scroll to Se­cu­rity and then click Backup Wal­let. Save this file in sev­eral places, and in the event the worst should hap­pen, you can use it to re­store your wal­let ei­ther back onto the Pi or onto an­other Nav Coin wal­let.

Flash the Nav Coin Pi im­age to your mi­cro-SD card us­ing your tool of choice, such as the Re­store Im­age util­ity

As a proof-of-stake sys­tem, you’ll only earn re­wards when your wal­let has been loaded with Nav Coins

Choose a strong pass­word for your wal­let, but make sure you don’t for­get it or you’ll lose your coins

Gen­er­at­ing your own SSL cer­tifi­cate is op­tional but def­i­nitely rec­om­mended

You’ll want to se­cure your Pi be­fore you trans­fer any Nav Coins to its wal­let

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