Key Recommendations to Becoming a OKP4 Validator
OKP4 is a blockchain platform that aims to enable trust-minimized data sharing in order to unlock the value of data and generate new knowledge.
OKP4 is a public, proof-of-stake blockchain that aims to enable trust-minimized data sharing to unlock the value of data and generate new knowledge. The platform includes customizable data spaces where communities can contribute digital resources and create new applications, as well as a dataverse, an expanding universe of datasets, algorithms, and other resources referenced on the blockchain. OKP4 allows users to customize data-sharing rules and governance mechanisms to minimize risks and costs and maximize opportunities while maintaining data sovereignty. The platform also includes user-friendly portals, explorers for interacting with the dataverse, and a development kit for creating and customizing data spaces and applications. OKP4 has the potential to disrupt the data industry by providing an alternative to traditional data-sharing models, which are often controlled by large tech companies and may lack privacy protections.
In the initial phase of the OKP4 network, operators who plan to run validators will declare their candidacy through genesis transactions. These candidates may include fundraiser participants who will stake their initial KNOW allocations and community members who have been involved in testnets, development, and code review. To be included in the candidate set, validators must have a setup understood by the OKP4 community so potential delegators can make informed decisions about which validators to support. Validator candidates who consistently demonstrate high uptime will be included in the final genesis validators when the mainnet launches.
After the network is operational, any user may declare additional validator candidates, and OKP4 holders can delegate their tokens and allocate consensus voting power to these candidates. Validators who perform poorly will be punished through slashing mechanisms.
Here are some recommendations for those planning to join as validators:
Choose a trusted data center or cloud provider. Do not choose the cheap one.
Join the testnet as a validator as soon as possible to increase the chances of being included in the genesis candidate set.
Highlight your skills and set up to attract delegators, who will evaluate each validator's setup and security practices when deciding which validators to support.
Quickly set up and secure your validator.
Establish a presence on the web, social media, or other channels to introduce yourself to the KNOW holder community.
Participate in Discord and Telegram discussion channels to stay informed and engage with the community.
Official guide
The OKP4 team has already prepared deeply how to set it up here:
https://docs.okp4.network/nodes/installation
How to avoid being punished
Running a validator on a blockchain network involves taking on the responsibility of verifying and reaching a consensus on new transactions and blocks. As a reward for this service, validators can earn block rewards and transaction fees. However, if a validator fails to perform its duties correctly or behaves maliciously, it may be "slashed," meaning it will lose a portion of its stake as punishment. Here are some tips for avoiding being slashed as a validator:
Try to use High Availability (HA) solution for business downtime caused by hardware failure.
Maintain high uptime: One of the essential duties of a validator is to remain online and available to participate in the consensus process. If a validator goes offline or becomes unresponsive, it may be slashed. To avoid this, make sure to set up redundant systems and monitoring to ensure your validator is always online.
Follow the rules: Each blockchain network has its own set of rules and protocols that validators must follow. Make sure to read and fully understand these rules, and ensure that your validator is always in compliance. This includes the following specific guidelines for validator behavior, such as signing and broadcasting blocks on time.
Secure your setup: As a validator, you are responsible for the security of your setup. Make sure to follow best practices for securing your hardware and software, including using strong passwords and keeping your systems up to date with the latest security patches.
Monitor your validator: Regularly check on your validator to ensure it is functioning correctly and in compliance with the network's rules. Use tools and resources such as monitoring and alerting systems to help you stay informed about the status of your validator.
Communicate with the community: If you encounter issues or challenges as a validator, don't hesitate to contact the community for help. Participating in forums and discussion channels can help you stay informed about the latest developments and best practices in the world of validator operation.
Key points you should know about OKP4 Testnet “Nemeton”
On December 2, 2022, OKP4 launched a testnet called Nemeton. It was named after the sacred space of the ancient Celtic religion.
The Nemeton testnet is divided into several phases:
Phase 1 — Sidh. The first phase will last till the end of December 2022. It includes essential tasks like setting up a validator, participating in the genesis, and getting familiar with the OKP4 testnet.
Phase 2 — Infrastructure. The second phase will be dedicated to testing the performance and uptime of validators and some maintenance tasks and upgrades.
Phase 3 — Token Dynamics. The third phase will be connected with token engagement. Challenges will include some IBC-related tasks which are supposed to bring Nemeton to the interchain world.
Phase 4 — Security Test. The fourth phase will require participants to test the upper bounds of the testnet: make coordinated strikes, governance attacks, and data-related high-load tasks.
Phase 5 — Builders Phase. The last phase will be devoted to builders. This is their time to join the community and shine.
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