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Section A: Node Operators (Solo Staking)
Explore the process of individual node operators participating in the staking mechanism to secure and validate the L1X blockchain network.
In the L1X blockchain network, validators are the backbone of the system, responsible for maintaining its integrity and security.
The role of nodes in securing and validating the L1X blockchain is of utmost importance, making it essential for both node operators and users staking into the delegated liquidity pool to understand their functionalities and significance. In this guide, we'll delve into the inner workings of nodes, the requirements for running them, and the distribution of rewards.
By staking a certain amount of L1X coins, validators gain the opportunity to validate transactions and participate in the consensus process. The pseudo-random algorithm guarantees a fair distribution of block proposers, providing every validator node with equal opportunities to contribute to block creation.
Validators or Full Validator Nodes (FVN) are the nodes that participate in maintaining, updating and providing proof of the Global state and storage while participating in the block production through the journey of the Consensus Mechanism.
Event Listener Nodes (ELN) are responsible to validate the incoming events from the connected chains and present the events to the Full Validator Nodes. They participate in ensuring that the events and the information are valid, authenticated and add event transaction hashes and identifiers. ELN authenticate and validate incoming events from various chains into the L1X ecosystem by running events tests that not only validates the delivery of it but also the context validation.
L1X Protocol has a total of three types of nodes.
- Event Listening Node (ELN)
- Transaction Execution Node also known as Full Validator Nodes (FVN)
- Signing and Broadcasting Node (SBN)
⇒ Event Listener Nodes and Full Validator Nodes are responsible to participate in the Consensus Mechanism.
⇒ Signing and Broadcasting Nodes can be hosted by the participating applications to ensure deposits and destination payload signing and broadcasting.
This modular architecture provides a secure, scalable and robust architecture to build applications rapidly that scale.
50,000 L1X Coins.
10,000 L1X Coins.
Rewards are earned by mainly two groups of Stakers at the protocol level. First are the FVN or ELN that host their own hardware. The second group of stakers is who delegate their staking to the liquidity pool and which is represented by the stakers who host their own hardware. The delegated liquidity pool is a part of the protocol and this allows decentralized staking and reward distribution.
The rewards will be automatically accrued to the accounts/addresses list (register) stakes at the protocol level. It will be cumulatively processed and if you need to withdraw/claim it; you will have to remove the staked rewards and the same unbonding period and conditions will apply.
Yes. You can choose if you want to be a part of the Event Listener Node or Full Validator Node. Although, you cannot choose what part of the Cluster (Event and Data Sharded Profile) you can be a part of.
- Processor: A modern multi-core processor, such as Intel Core i5 or AMD Ryzen 5 is recommended.
- Memory: A minimum of 16 GB of RAM is recommended.
- SSD: Starting point would be at least 500 GB to 1 TB of SSD storage.
- Network: At least 100 MBPS.
Please note that the hardware requirements for Signing and Broadcasting of the Nodes will be released later. At the moment, the hardware requirements are for FVN and EVN only.
Also more information regarding hosting instructions will be released in Q4 of 2023.
After the mainnet launch at the end of January, the unbonding period will be 30 days. You will be not rewarded during the unbonding period while your staked value is in the process of being released from the staked Liquidity Pool.
An unbonding period is the period of time that you have to wait after you unstake your coins from a validator node and have them available to you.
There are a couple of reasons why unbonding periods are necessary:
It helps to ensure the security of the network. If you were able to unstake your coins immediately, it would allow you to double-dip and collect rewards from both staking and trading. This would undermine the security of the network, as it would incentivize people to only stake their coins when it is profitable to do so.
Also, the unbonding period gives validators time to adjust. During this time, the validator node needs to adjust its operations to account for the loss of your stake. If there were no unbonding period, this could cause instability in the network.
Staking rewards are not distributed to the unstaked amount during the unbonding period.
For the First 1000 Nodes, you will need an NFT.
If you wish to stake regardless of the Nodes; you will have the opportunity to stake into the delegated liquidity pool program if you do not wish to host your Full Validator Node or you want to simply delegate it.
For the First 1000 Nodes, you will need an NFT.
If you wish to stake regardless of the Nodes; you will have the opportunity to stake into the delegated liquidity pool program when you do not wish to host your Full Validator Node or you want to simply delegate it.
To acquire Full Validator Node NFT: you will have to acquire 50,000 L1X Coins in the Public Sale which is running between July 2023 and January 2024. Once the coins are acquired you will then unlock your NFT by committing your L1X Coins into a smart contract that will automatically distribute those Coins to the node once you are ready to host it.
To acquire Event Listener Node NFT: you will have to acquire 10,000 L1X Coins in the Public Sale which is running between July 2023 and January 2024. Once the coins are acquired you will then unlock your NFT by committing your L1X Coins into a smart contract that will automatically distribute those Coins to the node once you are ready to host it.
You can start hosting full nodes from January 2024 onwards.
The procedure to claim and stake your L1X Coins will be released before the Mainnet-Beta Phase.