Staking & Delegating

Validators are the key actor in maintaining the Network1 and they can become node operators by staking 10,000 NET1 coins. Validators run a full node, secure the network by staking NET1 to produce blocks, validate and participate in Proof-of-Network (PoN) consensus.

Validators play a crucial role in maintaining the integrity and security of the Network1. By running a full node, validators contribute to the network’s infrastructure and help facilitate transactions.

They secure the network by staking NET1 , which enables them to produce blocks and participate in network consensus. This contributes to greater network security and enhances network decentralization making it more resilient against potential attacks.

In return for their efforts, validators are rewarded with incentives, encouraging active participation and commitment to the network’s stability and growth.

Active validator limit

There is limited space for accepting new validators. Currently, the system allows for a maximum of 100 active validators at any given time. New validators can join the active set only when a currently active validator unbonds or is removed due to low performance.

* Submitting an application does not guarantee a validator slot.

Overview

Network1 consists of the three following layers:

• Base layer: A set of contracts on the Network1 mainnet.

• Consensus layer: A set of proof-of-network (PoN) nodes running in parallel to the Network1 mainnet, monitoring the set of staking contracts and committing network checkpoints.

• Data layer: A set of block-producing nodes shuffled by Consensus layer nodes.

To be a validator on the Network1, you must do the following:

• Run a sentry node

• Run a validator node:

• Stake 10,000 NET1 in the staking contract

Validator responsibilities

Keep up with the latest node and validator updates from the Network1 and the community by keeping an eye on the announcements.

A blockchain validator is someone who is responsible for validating transactions within a blockchain. On Network Chai, any participant can be qualified to become a validator by running a validator node (sentry + validator) to earn rewards and collect transaction fees. To ensure the good participation by validators, they lock up at least 10,000 NET1 as a stake in the ecosystem.

Any validator on Network has following responsibilities:

Operations

• Maintain high uptime.

• Check node-related services and processes daily.

• Run node monitoring.

• Keep NET1 balance (between 5000 to 10,000) on the signer address.

• Be open to delegation.

• Communicate commission rates.

• Communicate issues.

• Provide feedback and suggestions.

• Earn staking rewards for validate blocks on the blockchain.