A node is basically a device, like a computer, that contains a full copy of the transaction history of the blockchain.
Multiple nodes maintain the consensus and run the actual blockchain. They are the gateways to access the chain data.
There have been lots of outages disrupting wallets, exchanges and other DApps because of the centralized infrastructure failures.
By registering your node you help decentralize the access to blockchain and maintain its high availability, while generating passive income for yourself.
The registered nodes will join a resource pool used to serve JSON RPC requests of DApps, thus creating added value and revenue, which is then shared back to node owners.
Before registering your node you also need to stake a specific amount of tokens to ensure the economic security of the protocol, based on which your earn a substantial APY.
There will be different levels of SLAs that node owners must commit to.
By imposing a minimum availability requirement we ensure a high quality service for DApps which will be using the node resource pool.
The draft proposal contains 5 levels of SLA ranging from 99% down to 75% (max. 6h daily downtime).
SLA levels will point to a specific reward reduction percentage. There will be a warning level before slashing the stake if availability is under owner's commitment.
The reward rate is proportional with the node performance.
While CPU, RAM, I/OPS and bandwidth specs do influence the node performance, this ultimately translates to a higher number of requests per second (RPS) that a node can serve.
By only measuring the RPS we focus on what matters to actual DApps who are going to use the nodes.
RPS is our North Star. The higher, the better.
We are now in the process of finishing the requirements for SLAs, minimum RPS and stake amount.
Submit your email below to get early access to this information.
Being an early bird gets you benefits: beta access, lower requirements for beginning and much more.
Read more about the minimum hardware requirements for the blockchain on which you intend to run a node.
JSON RPC is the standardized way for a DApp to interact with the blockchain. Click on the image to read more on our blog
See that kind of centralization issues are affecting the blockchain applications.