Vince Chain Validators
Learn about Vince Chain validators
Last updated
Learn about Vince Chain validators
Last updated
Vince Chain rely on validators to run the blockchain. See how it works!
Vince Chain runs on top of the consensus engine—a fork of . Validators are responsible for committing new blocks on Vince Chain to enable it to run successfully. Before validators can successfully commit new blocks, they must participate in the consensus protocol by broadcasting votes containing cryptographic signatures signed by the respective validators using their private keys.During the consensus protocol, validators can bond their own tokens with delegators' staked tokens and have the entire tokens delegated to them to complete the process. In the early stages, Vince Chain will approve 100 validators. The validators will be determined by the highest stakes delegated to them. The top 100 delegates with the highest stakes will become Vince Chain's validators. Vince Chain's native and governance coin, Vince (VCE), will be used for the process.
Validators and their delegators will occasionally earn block rewards through transaction fees as defined by the Tendermint consensus protocol. The transaction fees will be paid and distributed in Vince (VCE). However, future transaction fees within the Cosmos ecosystem will use any valid tender within the ecosystem, provided they are whitelisted through governance.
Note: Validators can set commission on the fees their delegators receive as additional incentive.
Validators can be penalized if they do not play by the rules. The goal is to maintain the integrity of the blockchain at all times. The penalty accorded to the validator will depend on the severity of the violation.That said, if a validator double-signs, is frequently offline, or does not participate in governance; their staked Vince (VCE) (including Vince (VCE) of the users that delegated to them) will be slashed.
When setting up a validator on Vince Chain, we recommend delegating at least 1,000,000 VCE. This will help the validator garner adequate fair voting power in the congregation of other validators, and ensure your validator is actively committing new blocks and participating in Vince Chain's governance.
Vince Chain approves a maximum of 100 active validators, voted for during on-chain governance. You can set up your Vince Chain validator node to validate blocks and earn VCE rewards.To set up a Vince Chain validator successfully, you should have at least 1,000,000 VCE (the recommended amount to delegate a validator). Once you have up to the aforementioned amount, you can run the following command to start running your validator.vinced tx staking create-validator --amount=1000000000000000000000000avince --pubkey=$(vinced tendermint show-validator) --moniker="" --from=<vincechain address> --min-self-delegation="1" --commission-max-change-rate="0.01" --commission-max-rate="0.20" --commission-rate="0.05" --chain-id=vincechain_1000-3
You can set up a validator with any amount of Vince (VCE), starting from at least 1 VCE. However, 1M VCE is recommended to have a fair voting power and active block production in the network. Also, ensure to enter your Vince Chain address in the colum provide for it when running the above command.
You should give your validator a few blocks to enable it to show up in the network after successfully confirming the transaction.
Do not allow your validator to go offline as it could attract a penalty, including a "" of about 10 minutes and a small percentage rewards slashing. Ensure the server or device you have your validator running on is secured and up to the minimum .
More validator updates coming soon!