I would like to run a stake pool, but don't know if I am capable to do this. What do I need for that?
Running a stake pool requires two main components, technical ability and marketing savvy. I'll outline some of this at a high level for you below.
- Linux server administration. You must be able to setup and administer a server that will run your pool and relay nodes. You will need to be comfortable running applications in the terminal.
- Bash scripting (for setting up your pool, running the nodes, etc.)
- A pool cannot make blocks without attracting delegation. It take around 1.2M ADA to average one block per epoch.
- Pools need effective marketing to attract enough delegators unless you own enough ADA yourself.
- This is actually the hardest part about running a pool.
One last thing is pledge, currently the pledge only has a small effect on the rewards a pool earns. However, this is set to increase in the future. The exact amount of pledge needed is unknown but will be more than a few thousand ADA. Looking at most of the pools that are out there I would assume anything less than 50-100k ADA will not be sufficient.
There is a plethora of resources for how to setup a node, but hopefully this helps to answer the question of whether or not this is something you want to pursue. Good luck!
This is the guide that I used and also included the prerequisites from their site below:
Mandatory skills for stake pool operators
As a stake pool operator for Cardano, you will be competent with the following abilities:
- operational knowledge of how to set up, run and maintain a Cardano node continuously
- a commitment to maintain your node 24/7/365
- system operation skills
- server administration skills (operational and maintenance).
Mandatory experience for stake pool operators
- experience of development and operations (DevOps)
- experience on how to harden and secure a server.
- passed the official Stake Pool School course.
It's is the most comprehensive guide out there, IMO. I used it for setting up my own stake pool.