Home Coins Ontology (ONT) How to enroll to run an Ontology node - OntologyNetwork

How to enroll to run an Ontology node – OntologyNetwork

The Ontology Team

Due to the brand new adjustments to our system, it’s now simpler than ever to sign-up to grow to be an Ontology node! Try this step-by-step information to signing up and changing into an Ontology node beneath.

1. Obtain OWallet

To enroll, obtain Ontology’s OWallet right here. OWallet helps Home windows, Mac, and Linux working programs.

2. Add a staking pockets and operation pockets

On the left column, choose the “Pockets” tab and add a staking pockets and operation pockets as required by the node. The staking pockets shops the ONT required by the node to stake, whereas the operation pockets is used to begin the node. The node pockets doesn’t require ONT to function.

Word: The present node staking mechanism doesn’t help a “Shared Pockets”.

To create a brand new private pockets deal with, please enter a reputation and password. Observe the prompts to again up the pockets file through the creation course of.

OWallet helps each new and current wallets. Customers can import current wallets via non-public keys and mnemonics. OWallet additionally helps connecting to Ledger Pockets. The Ontology neighborhood now gives node operation by way of proxy. Click on right here to search out out extra.

3. Register the node

Choose the “Node Staking” tab on the left facet of OWallet and click on the “New Node Apply” choice.

Choose the node staking pockets and the node operation pockets, and fill within the quantity of ONT you want to stake. The node operation pockets might be the general public key obtained from the neighborhood node operation service. Primarily based on the present configuration of the Ontology community, the minimal quantity required for a staking node is about at 10,000 ONT.

When the registered node’s staked quantity is within the high 343 nodes, the node turns into a candidate node; when the registered node’s staked quantity is the highest 11, the node turns into a consensus node.

Subsequent, entered particulars should be confirmed. Following affirmation, the staking pockets can be utilized to signal the transaction.

After the transaction is efficiently transmitted to the blockchain, the node registration is full. Chances are you’ll proceed with filling in any additional related particulars relating to the node.

4. Node Data Administration

Choose the “Node Staking” tab on the left facet of OWallet and click on the “Node Administration” choice.

This shows the prevailing registered nodes of the person on the present OWallet account. Choose the node to enter the administration web page.

Choose the “Node Staking” tab to extend or lower the preliminary staked quantity of the node.

This additionally provides an choice to take away a node. Upon completion of two consensus cycles, you might withdraw the staked quantity of the canceled node. Earlier than the following consensus cycle, the node will proceed to function, and any modifications shall take impact after the top of the present cycle. If the added stake has taken impact, after lowering the preliminary stake, the decreased quantity will probably be unlocked within the subsequent consensus cycle (for consensus nodes the quantity will probably be unlocked after two consensus cycles).

For instance, say the preliminary staked quantity of a node is 100,000 ONT and the node has accepted an extra stake of 1,000,000 ONT from different customers. If the node decides so as to add one other 100,000 ONT to its preliminary stake, the higher restrict of the staked quantity is elevated to 2,000,000 ONT. Then, say the node receives one other stake of 500,000 ONT from customers. Now, the node decides to cut back the preliminary stake. Because it has accepted one other 500,000 ONT from different customers, it could actually solely cut back the preliminary staked quantity by 50,000 ONT. The opposite 50,000 ONT should look forward to different customers to withdraw a part of their staked quantity earlier than the node can cut back it’s preliminary stake additional.

The node proprietor might select to cancel the node completely and return all of the preliminary staked quantities to the respective staking events. The candidate node can get the stake returned one cycle after exiting, and the consensus node can get it returned two cycles later.

By configuring the “Consumer Stake Authorization” tab, you may set the utmost permitted staking quantity approved for different customers on the node, set the community charges collected by the node, and the distribution ratio of the launched ONG for that node. As well as, the node can withdraw their staked quantity right here.

The utmost person approved staked quantity {that a} node can settle for is capped at ten occasions the node’s personal preliminary staked quantity.

The node can set the processing price obtained by the node and the distribution of the launched ONG obtained by that node, and this a part of the income will probably be shared and distributed among the many approved staking customers. This setting will take impact after a delay. If the configuration is about within the present cycle, it’ll take impact after two cycles.

Choose the “Node Information” tab to replace the related node particulars. You’ll be able to select whether or not to make the data public or not. The staking pockets is required to signal the motion of updating any node-related info.

5. Export the Operation Pockets

Choose the “Pockets” tab on the left facet of OWallet, choose the operation pockets, and click on “Extra” to export the pockets right into a ‘pockets.dat’ file that can be utilized as backup.

Ought to you’ve got any additional questions, please contact us at [email protected]

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