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Neutaro is a public Proof-Of-Stake (PoS) blockchain, meaning that the weight of validators is determined by the amount of staking tokens bonded as collateral. These tokens can be self-delegated directly by the validator or delegated to the validator by other token holders.
Any user in the system can declare their intention to become a validator by sending a create-validator transaction to become validator candidates.
The weight (i.e. voting power) of a validator determines whether they are an active validator. The active validator set is limited to an amount (opens new window) that changes over time.
A full node is a server running a chain’s binary (its software) that fully validates transactions and blocks of a blockchain and keeps a full record of all historic activity. A full node is distinct from a pruned node that processes only block headers and a small subset of transactions. Running a full node requires more resources than a pruned node. Validators can decide to run either a full node or a pruned node, but they need to make sure they retain enough blocks to be able to validate new blocks.
Of course, it is possible and encouraged for users to run full nodes even if they do not plan to be validators.
Delegators are token holders who cannot, or do not want to, run a validator themselves. token holders can delegate to a validator and obtain a part of their revenue in exchange. For details on how revenue is distributed, see What is the incentive to stake? and What are validators commission?
Because delegators share revenue with their validators, they also share risks. If a validator misbehaves, each of their delegators are partially slashed in proportion to their delegated stake. This penalty is one of the reasons why delegators must perform due diligence on validators before delegating. Spreading their stake over multiple validators is another layer of protection.
Delegators play a critical role in the system, as they are responsible for choosing validators. Being a delegator is not a passive role. Delegators must actively monitor the actions of their validators and participate in governance. For details on being a delegator, read the Delegator FAQ (opens new window).
The role of validators is to run a full node and participate in consensus by broadcasting votes that contain cryptographic signatures signed by the validator’s private key.
Validators commit new blocks in the blockchain and receive revenue in exchange for their work. Validators must also participate in governance by voting on proposals. Validators are weighted according to their total stake.
Step 1: Download the Neutaro blockchain repo and install it onto your server with the Go Compiler.
Step 2: Link your node to the Neutaro blockchain.
Step 3: Any participant in the network can signal that they want to become a validator by sending a create-validator transaction, where they must fill out the following parameters:
Step 4: After a validator is created, Neutaro holders can delegate Neutaro to them, effectively adding stake to the validator’s pool. The total stake of an address is the combination of Neutaro bonded by delegators and Neutaro self-bonded by the validator.
Step 5: From all validator candidates that signaled themselves, the 55 validators with the most total stake are the designated validators. If a validator’s total stake falls below the top 55, then that validator loses its validator privileges. The validator cannot participate in consensus or generate rewards until the stake is high enough to be in the top 55. Over time, the maximum number of validators may be increased via on-chain governance proposal.