How to become a validator
Validator Operations on the IZC SmartChain
The IZC SmartChain operates through a network of validator nodes hosted by participants worldwide. This network empowers entrepreneurs to seamlessly integrate payments into their products, allowing users access to financial services in their preferred currency.
Open Access and Customization
The network is publicly accessible, and all code is open source, enabling customization and localization to meet specific community needs. Communities residing on the izicoin SmartChain contribute a small fee to network validators for transaction validation.
Validator Rewards and Responsibilities
Validators, entities holding the IZC token, operate nodes that validate transactions on the network, earning rewards in IZC. They run specialized software, maintaining a copy of the izicoin blockchain and validating transactions every 5 seconds. Validators receive block rewards (X per block), with a yearly inflation of 5% distributed among all validators.
Technical Expertise and Governance
Validators contribute computing resources, requiring technical proficiency to host the necessary software. They play a crucial role in network governance, voting on important decisions and upgrades. As guardians of the network, validators not only maintain it but also guide its future development.
Who Should Become a Validator?
Companies Building on the Network: The IZC open-source stack fosters collaboration among companies sharing the same code base. Companies utilizing izicoin services and code can become stakeholders, earning rewards and leveraging the infrastructure for development.
3rd Party Service Providers: Service providers across blockchains can become stakeholders, facilitating cross-blockchain transactions and streamlining business processes without intermediaries.
Community Operators: Community operators, key stakeholders in the network, can upgrade to validators, enhancing client access and participation.
Non-technical Users: While running a node requires technical expertise, the DPOS mechanism allows for token delegation. Holders can delegate their IZC to validators to earn rewards without actively participating in validation.
Becoming a Validator
To become a validator:
Stake or delegate a minimum of 10 tokens.
Run a full node.
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