Skip to main content

Overview

Validators are responsible for verifying the public data available on a blockchain with each other.

Validators need to be in the active set in order to take part in consensus of the shared data, and for them and their delegators to earn rewards. The active set includes the top 69 validators based on their voting power. The weight of a validator is directly proportional to the number of tokens that are delegated to their node.

Validators participate in this consensus by broadcasting votes which contain cryptographic signatures signed by each validator's private key. Validator candidates can bond their own TERP or have TERP delegated or staked to them by token holders.

Slashing

Slashing is the mechanism that penalizes validators, and as a result, their delegators, for violating certain rules.

Validators need to be careful in adopting the necessary measures to prevent being slashed, as the funds of both the validator and its delegators are subjected to slashing penalties.

Misbehaviors subjected to slashing include:

  • Downtime (soft slashing): When a validator is offline and does not participate in block signing for a certain amount of time, it gets slashed. Slashing leads to a small loss of staked tokens, on top of not earning new rewards for the duration of the downtime.
  • Double signing (hard slashing): This occurs when a validator signs two different blocks at the same height in the network. The penalty is considerably higher, as it involves a higher loss of staked tokens, permanent jail time as the validator is disqualified from participating in the network.

Considerations​

  • Technical requirements: To run a validator node, you need to have a dedicated server with sufficient computing power, storage, and bandwidth. You will also need to install and configure the appropriate software and any additional tools you plan to use (such as monitoring software). See prerequisites for installing a node.
  • Security: Running a validator node involves holding a significant amount of cryptocurrency, so security is critical. You need to take appropriate steps to secure your server, including setting up firewalls, using strong passwords, and enabling encryption. You should also consider using hardware security modules (HSMs) to secure your private keys.
  • Maintainance: Successful validation requires the efforts of multiple highly skilled individuals and continuous operational attention. You should be able to promptly respond to attacks, outages, and handle software updates to accommodate protocol upgrades and bug fixes. These activities require substantial vigilance.
  • Operational Costs: Running a validator can be a profitable activity, especially if your services are reliable and your credibility is high. Depending on your infrastructure, you may incur considerable operational costs. Handle your costs appropriately in order to avoid inefficiencies, but never neglect security and reliability.
  • Governance: Validators are elected by delegators who stake their cryptocurrency with them. Participating in governance by voting on proposals helps establish a stronger relationship with delegators.

Tips​

  • Engage with the community on a regular basis, as this is key to attracting delegators and building a reputation. It is valuable to be active on Discord and nurture relationships with other validators.
  • Build tools for the ecosystem, and contribute with your knowledge and support. Proactively helping in growing the ecosystem is an effective way to demonstrate your credibility.
  • Set up a website for your validator operations. This can include information about your validator, your team, and any additional services you may offer.
  • Develop a social media strategy to promote your validator. This can include creating a Twitter account, publishing regular blog posts, and engaging with the community on Discord or other forums.
  • Set up a website. This can enhance the credibility of your validator, and provide useful information to attract delegators.

Apply for validator delegation​

Validators interested in participating in our TerpNET Foundation Delegation Program are welcome to complete the following form. The goal of the program is to cultivate a diverse and proficient group of independent validators, with the purpose of decentralizing the protocol and ensuring peak network performance.

Next steps​

info

Running a validator is an important task. Make sure you are aware of the requirements.

Also, you are welcome to join the Terp Network Discord server. It will be easier to learn more about becoming an Terp Network validator.