With the Mainnet v2.0 around the corner, we are looking for validators to help run the Fetch.ai network. As part of this onboarding process we are encouraging validator partners to join our incentivized test-net.
As part of this programme we want to brief our validator community about what it means to run a validator, where you can get support as well as establish a dedicated community group. As a runner of a validator you play an integral role in maintaining the Fetch.ai network and will be an important voice in the future of the network.
Interested? (We hope so!) please fill out this survey so we better understand you as a potential validator.
Join us on Discord so we can share with you the latest updates on the validator program.
We are looking for 40–50 validators to sign up for the Incentivized Testnet.
What does it involve?
- Typically, validators have some expertise in information technology, security and dev-ops.
- Inexperienced validators often deploy all of their infrastructure to cloud services such as Google Cloud or AWS as these have low upfront costs.
- Professional validators typically also invest in running their own physical infrastructure with dedicated servers, firewalls, hardware security modules, networking and monitoring infrastructure.
- Dedicated hardware is more profitable in the longer term.
What are the benefits?
- Financial benefits for operating the infrastructure from fees and block rewards.
- Greater say in the future direction of the protocol through their role in governance.
- Reputation as a valued member of the community.
- Faster submission of transactions and guarantee of producing some blocks.
- Access to richer and faster information on the current state of the network
- Preferential access to new business models, which for the Fetch ecosystem includes agent, oracle and machine learning services.
What are the costs?
- It costs time and money to operate a node
- If your node is offline (unavailable) some of its stake will be slashed (i.e. deducted)
Who becomes a validator?
- Community members who are enthusiastic about a particular protocol
- Professional staking operations
- Developers of the protocol and other large stakeholders
- Cryptocurrency exchanges
It is expected that validators will be able to configure the chain and manage a hosting environment in order to run a node and earn network maintenance rewards. In summary, the technical setup is as follows.
- The Fetch.ai v2.0 ledger is built using the Cosmos-SDK and inherits many of its features from the Cosmos ecosystem
- The source code for the Fetch ledger can be found on Github, which also contains installation instructions
- These involve installing Golang, a C++ compiler and several other C++ cryptographic libraries
- A Fetch.ai node can be hosted on standard cloud infrastructure or on dedicated hardware
- Reliable hosting infrastructure will be required, as similar to other Cosmos-SDK chains, there will be penalties for failing to produce blocks
- Checkout our validator documentation: https://docs.fetch.ai/ledger_v2/validators/overview/
- We plan to launch our v2.0 main-net in March 2021
More details will be released in an upcoming technical briefing paper.
We will be releasing a blog in the coming days outlining detailed information on the validator rewards/incentives for Mainnet. Stay tuned for further updates from us and if you have any questions, do join us on Discord.
What happens next?