Guide: How to Setup a STEEM Exchange Node

in steem •  6 months ago

Interest in the Steem blockchain is exploding and with it the number of exchanges seeking to list the STEEM token. STEEM's real-time fee-less transfers, alongside its use in social applications, means that the token could become one of the main currencies that users leverage to quickly transfer wealth between exchanges. With that in mind we’d like to share once again our “quick start guide” for running a STEEM exchange node.

The Guide

The goal of this guide is to make it as easy as possible for exchanges to adopt and run STEEM. The quick start guide is available here:
https://github.com/steemit/steem/blob/master/doc/exchangequickstart.md

Video Tutorial

To make the process even more seamless, we've made a quick video tutorial (8 minutes) that follows these instructions step-by-step:

4 Steps

Running an exchange node from this guide is as simple as four steps.

  1. Make sure you meet the hardware requirements
  2. Build the docker image
  3. Create two directories for storing blockchain and wallet data
  4. Run

Although the instructions are technical, anyone with basic system administration skills should be able to follow and execute the guide quickly and easily. The quick start guide linked above is available in the steem GitHub repository.

Security

Using this method is secure because this software runs in a container segregated from the rest of your system. In addition, there's no risk of misplacing key data for the CLI wallet because it can be kept outside of the docker volume in a persistent area of the filesystem.

If you’re running an exchange node, or thinking of running an exchange node, please follow this guide!

Team Steemit

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We need this. Steem is surging at $6+ now, and more and more interest will come to the blockchain.

Exchanges, get ready to set up Steem exchange nodes ASAP with this guide!

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I agree @mooncryption.

STEEM is getting on people's radar very quickly. I know @Zappl sent out some feelers a couple months back trying to find out if some exchanges would be interesting in picking up STEEM. I think they got a few positive inquiries.

Thinks are starting to get pretty hot and heavy around here.

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You are correct about that, things are getting interesting. I'm using my position as prominent Steem witness and co-founder of @buildteam and @steemvoter to engage with exchanges one at a time and offer them marketing and revenue opportunities on the trending page as per this post:

https://steemit.com/steemvoter/@steemvoter/steemvoter-guild-quoinex-promotion-for-strategic-alliance

My goal is to help list Steem on as many exchanges as I can in 2018.

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Great to hear Steem getting more well deserved exposure. All the best.

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I'm even going to do this now! I'm just getting involved with exchanges, so the more I can, the more I'll help out.

What are the benefits to running an exchange node?

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I think this would spell more transactions for the exchanges, right? Isn't that its own benefit? Thanks!

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So is it like a masternode that pays/mines coin?

steem sedang melonjak pesat di daerah saya, ledakan pengguna steemit sangat cepat, dengan adanya panduan seperti ini, akan sangat membantu kami para stemian, terima kasih

Besides supporting the platform, what would the direct value/rewards be?

Which exchanges do you recommend most?
And why no one, including dan is using decentralized exchanges?
Is storing tokens on a decentralized exchange is nearly as safe as a cold wallet?

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This is perfect for the soon to release Smart Media Tokens, the more people that could get STEEM the better the ecosystem will run! Thanks for this!

STEEM/Fiat pair is dire necessary of the time. @hitbtc-payout, @poloniex and @bittrex please add STEEM/USDT pair.

Thanks a lot brother..i wish success like you..you have became a inspirator for every people in the world..thanks for your guides..every people known you..nice to know you brother.

What are the benefits to running an exchange node?

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Yeah, that's the real question.

What is the other way to team up with node maker and make money

is there an up-to-date walkthrough on setting up a steem full node for my school? I want to setup a steem node with the kids next year

System Requirements: A dedicated server or virtual machine with a minimum of 16GB of RAM, and at least 50GB of fast local SSD storage.

I don't know about the system requirements for other coins, but isn't this enormous?

I would like to see Steem on more exchanges!

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No, I don't believe it is especially large. Good question though!

Community Liaison, Steemit

I'm encouraged to be seeing this communication coming from Steemit. Good things to come!

Excelente, traduciré la información, saludos :D

@steemitblog,
If I have windows servers can I run this exchange? I am interesting, coz I have few windows server machines!

Cheers~

Really informative and helpful. Thanks for sharing.

will certainly setup nodes this year, in the next few months for certain.

This technical stuff is a bit beyond me....

Is this for us to set up an exchange node or a how to for exchanges to do it?

I am a bit confused.

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I honestly have the exact same question...

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Apologies for the confusion, this is really only for exchanges who are looking to accept Steem.

Community Liaison, Steemit

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Ah okay...thanks for the clarification.

Well I will say I am very excited about it....just another feather in the STEEM cap.

Thanks for all this guides it will really help me a lot because am new here,looking forward to learn more from you.

GOOd to see your post i m new to comment on your post like it steem price is going very well

Steem exchange. That's wonderful. Thanks for the post

Wow, very cool! Things are moving super fast / New follower / Peace

Wow good news to all steemians

This is great! I can't wait to see STEEM listed on more exchanges. Does this also apply for Steem Dollars?

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Yes

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Which exchanges do you recommend most?
And why no one, including dan is using decentralized exchanges?
Is storing tokens on a decentralized exchange is nearly as safe as a cold wallet?

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I use BlockTrades whenever possible. Otherwise Bittrex is my second option. I do occasionally use BitShares as well.

Anytime you use an exchange there is risk. Even with decentralized ones, there is usually some risk. For example if the price of BTS ever went to zero, I don’t know what would happen with everyone’s coins. I’m not really an expert on this though.

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Do you know if there is a currency which has all of these attributes?

  1. Bounded amount - like BTC , LTC , ZEC , XZC , BCH
  2. Not Proof-Of-Work - unlike BTC , LTC , ZEC , XZC , BCH

If so, is it premined? What are its fees policy and speed of transaction and its security algorithm?
I wanted to ask this question in one of your threads, but going back to August 2017 I did not find you post a thread about this popular matter.

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Sorry, that is not really my area of expertise. I don’t know.

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I already asked other people and in other places and never got a solution.
Blocktrades let me register and lets me sign in, but when I try to place an order I find myself logged out.
Bitshares presents me with an error message which trying to choose a different server does not change.
What can prevent me from using online exchanges?
From other PCs I managed to get to where bitshares does not let me get to from my PC.

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You shouldn’t even need to create an account to use BlockTrades. Just hit the Buy button from your Steemit wallet. It will open a BlockTrades page. Put in your Steem account name, and select the coin you want to send (BTC, LTC, ETH, etc.). Generate the address, then send the tokens to that address.

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It never worked either.
It gave me an error message.
Bitshares and Blocktrades are incompetent.
Binance seems to work for me.
I still did not even transfer anything to it, but it does seem to work.
No one knows why.
Which exchanges do you recommend?
I remember you already answered that you use blocktrades, bittrex and bitshares.
bittrex does not want me.
If you know anything bad that binance ever did, please share it with me.
Is it just binance, or is it common to have to trade pair through BTC and by doing so having to trade 2 times for each trade?
Does BTC as an intermediate cause huge lags and additional fees?
No other good exchanges you had perfect experience with?

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I like Binance. I would recommend them.

Currently the intermediate BTC trade is still needed for most exchanges that trade STEEM. I prefer to use ETH over BTC whenever possible, due to fees and transaction times though. A USD/STEEM gateway would be amazing - hoping we can have one someday soon.

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This comment has received a 2.35 % upvote from @steemdiffuser thanks to: @stimialiti. Steem on my friend!

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This comment has received a 3.38 % upvote from @steemdiffuser thanks to: @stimialiti. Steem on my friend!

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This comment has received a 2.92 % upvote from @steemdiffuser thanks to: @stimialiti. Steem on my friend!

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@timcliff please I really need to learn how the steem market works, how I can sell or buy SBD or Steem..

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You can trade STEEM for SBD, and SBD for STEEM on the internal "Currency Market". There is a link for that in the main menu.

If you want to buy STEEM or SBD using 'real money', you first have to buy Bitcoin, Litecoin, or Ethereum first. I'm not sure where you live, but coinbase.com is the main website where people buy it if they live in the US. (Otherwise you can just google where to buy BTC in your country if you live somewhere else.)

Once you have one of those three coins, you can use them to purchase STEEM or SBD using https://blocktrades.us/.

Hope that helps! Let me know if you have any other questions :)

Let me sort of rephrase the questions asked already.

  1. What do I accomplish by setting up and running an exchange node?

  2. Who benefits from it?

Steem is simply taking over... @steemitblog

👍...happy new Year @steemitblog

You can find Russian version of this post HERE


Русская версия тут

People that understand all this thecnical things and deal with it allowing us to have access to the platform and all related are gods. Ehehehe

Thanks for sharing! A link to your post and infos about the guide were included in the Steem.center wiki page about Steem Exchanges. Thanks and good luck again!

I was actually just wondering how to create a new node...
This explains it ENTIRELY!!

Thank you so much! :)

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I'm trying to do some big things as far as steemit is concerned in 2018.. This is one of my goals. It'll probably be a while since I don't have the means just yet.. but I am continuing the grind and one day, hopefully this year, I will be able to afford to set up an extremely powerful node! :)

Doesn't hurt to have goals!

Thank you for the guide! I appreciate it a LOT!


Also, if you have a minute.. vvvv


If you have a second, please check this post out.

I'd like help in getting the word about steemit out! Thank you!


-- Evan

I'm a noob, can someone please explain what exchange node means?
Did i need it?

Hola @steemitblog #steemit tiene un departamento de prensa?

This is awesome, well done. Exchanges need STEEM and we need Exchanges, this guide makes it hopefully easy for them to add it. Everyone, retweet this as this information need to get out!

I have a couple of questions...

  1. Will RSS feeds be available for Steemit blogs any time soon?
  2. What about the ability to schedule posts?

Both of these options were available through streemian. However, they are no more. I have contacted streemian without any response.

Thank you,
Spencer Coffman

Really nice post thanks a lot.

thanks a lot brother, vote back got me

mr.@steemitblog i need your guidance on how to play utopian, i have very long wait, i hope someday meet someone who can guide me.

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Nice please always like my post and comment please

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Nice please always like my post and vote for me

Exquisite

Hello how are You

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Fine. And u?