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Validator & Delegator
What is a Validator?
A Validator in Treasurenet is a participant who contributes to the construction of the blockchain network by running a node (full node) and can become a block proposer to earn block rewards through election and staking. Validators also participate in the governance of the Treasurenet blockchain network and its protocols.
The Treasurenet blockchain network depends on a group of validator nodes tasked with proposing new blocks for the network. These validator nodes engage in the consensus protocol by broadcasting votes that include signatures, each signed with the respective validator’s private key.
In case a Validator double-signs, goes offline frequently, or commits other violations, their staked Unit Tokens may be reduced or his Validator status may be suspended. Penalties depend on the severity of the violation.
What is Staking?
Treasurenet is a Proof of Stake (PoS) blockchain network, meaning a validator’s weight is determined by the quantity of staked tokens (Unit Tokens) serving as collateral. These tokens can be staked directly by the validator or delegated to a validator deemed reliable by stakers.
What is a Full Node?
A full node is a program that thoroughly validates blockchain transactions and blocks, in contrast to a light client node, which only processes block headers and a limited subset of transactions. Running a full node demands more resources but is essential for becoming a validator. Users are encouraged to run full nodes even if they don’t intend to be validators, as long as they maintain low network latency and no downtime.
What is a Delegator?
Delegators are Treasurenet users who delegate their Unit Tokens to validators because they cannot or do not wish to run validator operations themselves. They receive a portion of the validator’s revenue in exchange.
Delegators share both revenue and responsibilities with validators; if a validator misbehaves, delegators’ stakes are partially slashed. Delegators should diligently assess validators and diversify by delegating their stake across multiple validators. They play a critical role in selecting validators and must actively monitor their validators’ behavior, switching if necessary.
Do Validators Need to be Publicly Identified?
Each delegator assesses validators based on their individual criteria. Validators are able to (and encouraged to) register a website address during the nomination process, enabling them to promote their operations according to their preferences.
Delegators’ preferences may vary; some might favor a validator node with a transparent description and website, while others could opt for an anonymous validator with a proven track record. It is probable that both real-name and anonymous validators will coexist within the validator set.
What are the Responsiblities of a Validator?
Validators must consistently run the unmodified, correct version of the software, ensuring their servers are always online and their private keys uncompromised.They should actively engage with the community, staying up-to-date with the ecosystem’s current state to readily adapt to any changes.