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Merge PR #163: Remove mention of voyager

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2019-10-18 14:59:06 +02:00
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docs/validators/validator-faq.md
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@@ -16,7 +16,7 @@ The Cosmos Hub is a public Proof-Of-Stake (PoS) blockchain, meaning that the wei
Any user in the system can declare their intention to become a validator by sending a `create-validator` transaction. From there, they become validator candidates.
The weight (i.e. voting power) of a validator determines whether or not they are an active validator. Initially, only the top 100 validators with the most voting power will be active validators.
The weight (i.e. voting power) of a validator determines whether or not they are an active validator. Initially, only the top 100 validators with the most voting power will be active validators.
### What is a full-node?
@@ -38,31 +38,31 @@ Delegators play a critical role in the system, as they are responsible for choos
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:
* **Validator's `PubKey`:** The private key associated with this Tendermint `PubKey` is used to sign _prevotes_ and _precommits_.
* **Validator's Address:** Application level address. This is the address used to identify your validator publicly. The private key associated with this address is used to delegate, unbond, claim rewards, and participate in governance.
* **Validator's name (moniker)**
* **Validator's website (Optional)**
* **Validator's description (Optional)**
* **Initial commission rate**: The commission rate on block rewards and fees charged to delegators.
* **Maximum commission:** The maximum commission rate which this validator can charge. This parameter cannot be changed after `create-validator` is processed.
* **Commission max change rate:** The maximum daily increase of the validator commission. This parameter cannot be changed after `create-validator` is processed.
* **Minimum self-delegation:** Minimum amount of Atoms the validator needs to have bonded at all time. If the validator's self-delegated stake falls below this limit, their entire staking pool will unbond.
- **Validator's `PubKey`:** The private key associated with this Tendermint `PubKey` is used to sign _prevotes_ and _precommits_.
- **Validator's Address:** Application level address. This is the address used to identify your validator publicly. The private key associated with this address is used to delegate, unbond, claim rewards, and participate in governance.
- **Validator's name (moniker)**
- **Validator's website (Optional)**
- **Validator's description (Optional)**
- **Initial commission rate**: The commission rate on block rewards and fees charged to delegators.
- **Maximum commission:** The maximum commission rate which this validator can charge. This parameter cannot be changed after `create-validator` is processed.
- **Commission max change rate:** The maximum daily increase of the validator commission. This parameter cannot be changed after `create-validator` is processed.
- **Minimum self-delegation:** Minimum amount of Atoms the validator needs to have bonded at all time. If the validator's self-delegated stake falls below this limit, their entire staking pool will unbond.
Once a validator is created, Atom holders can delegate atoms to them, effectively adding stake to their pool. The total stake of an address is the combination of Atoms bonded by delegators and Atoms self-bonded by the entity which designated themselves.
Out of all validator candidates that signaled themselves, the 100 with the most total stake are the ones who are designated as validators. They become **validators** If a validator's total stake falls below the top 100 then that validator loses their validator privileges: they don't participate in consensus and generate rewards any more. Over time, the maximum number of validators will increase, according to the following schedule (*Note: this schedule can be changed by governance*):
Out of all validator candidates that signaled themselves, the 100 with the most total stake are the ones who are designated as validators. They become **validators** If a validator's total stake falls below the top 100 then that validator loses their validator privileges: they don't participate in consensus and generate rewards any more. Over time, the maximum number of validators will increase, according to the following schedule (_Note: this schedule can be changed by governance_):
* **Year 0:** 100
* **Year 1:** 113
* **Year 2:** 127
* **Year 3:** 144
* **Year 4:** 163
* **Year 5:** 184
* **Year 6:** 208
* **Year 7:** 235
* **Year 8:** 265
* **Year 9:** 300
* **Year 10:** 300
- **Year 0:** 100
- **Year 1:** 113
- **Year 2:** 127
- **Year 3:** 144
- **Year 4:** 163
- **Year 5:** 184
- **Year 6:** 208
- **Year 7:** 235
- **Year 8:** 265
- **Year 9:** 300
- **Year 10:** 300
## Testnet
@@ -76,10 +76,9 @@ We view testnet participation as a great way to signal to the community that you
In short, there are two types of keys:
- **Tendermint Key**: This is a unique key used to sign consensus votes.
+ It is associated with a public key `cosmosvalconspub` (Get this value with `gaiad tendermint show-validator`)
+ It is generated when the node is created with gaiad init.
- **Tendermint Key**: This is a unique key used to sign consensus votes.
- It is associated with a public key `cosmosvalconspub` (Get this value with `gaiad tendermint show-validator`)
- It is generated when the node is created with gaiad init.
- **Application key**: This key is created from `gaiacli` and used to sign transactions. Application keys are associated with a public key prefixed by `cosmospub` and an address prefixed by `cosmos`. Both are derived from account keys generated by `gaiacli keys add`.
Note: A validator's operator key is directly tied to an application key, but
@@ -90,26 +89,25 @@ uses reserved prefixes solely for this purpose: `cosmosvaloper` and `cosmosvalop
After a validator is created with a `create-validator` transaction, they can be in three states:
- `in validator set`: Validator is in the active set and participates in consensus. Validator is earning rewards and can be slashed for misbehaviour.
- `jailed`: Validator misbehaved and is in jail, i.e. outisde of the validator set. If the jailing is due to being offline for too long, the validator can send an `unjail` transaction in order to re-enter the validator set. If the jailing is due to double signing, the validator cannot unjail.
- `jailed`: Validator misbehaved and is in jail, i.e. outisde of the validator set. If the jailing is due to being offline for too long, the validator can send an `unjail` transaction in order to re-enter the validator set. If the jailing is due to double signing, the validator cannot unjail.
- `unbonded`: Validator is not in the active set, and therefore not signing blocs. Validator cannot be slashed, and does not earn any reward. It is still possible to delegate Atoms to this validator. Un-delegating from an `unbonded` validator is immediate.
### What is 'self-delegation'? How can I increase my 'self-delegation'?
Self-delegation is delegation from a validator to themselves. This amount can be increases by sending a `delegate` transaction from your validator's `application` application key.
### Is there a minimum amount of Atoms that must be delegated to be an active (=bonded) validator?
The minimum is `1 atom`.
The minimum is `1 atom`.
### How will delegators choose their validators?
Delegators are free to choose validators according to their own subjective criteria. This said, criteria anticipated to be important include:
* **Amount of self-delegated Atoms:** Number of Atoms a validator self-delegated to themselves. A validator with a higher amount of self-delegated Atoms has more skin in the game, making them more liable for their actions.
* **Amount of delegated Atoms:** Total number of Atoms delegated to a validator. A high voting power shows that the community trusts this validator, but it also means that this validator is a bigger target for hackers. Bigger validators also decrease the decentralisation of the network.
* **Commission rate:** Commission applied on revenue by validators before it is distributed to their delegators.
* **Track record:** Delegators will likely look at the track record of the validators they plan to delegate to. This includes seniority, past votes on proposals, historical average uptime and how often the node was compromised.
- **Amount of self-delegated Atoms:** Number of Atoms a validator self-delegated to themselves. A validator with a higher amount of self-delegated Atoms has more skin in the game, making them more liable for their actions.
- **Amount of delegated Atoms:** Total number of Atoms delegated to a validator. A high voting power shows that the community trusts this validator, but it also means that this validator is a bigger target for hackers. Bigger validators also decrease the decentralisation of the network.
- **Commission rate:** Commission applied on revenue by validators before it is distributed to their delegators.
- **Track record:** Delegators will likely look at the track record of the validators they plan to delegate to. This includes seniority, past votes on proposals, historical average uptime and how often the node was compromised.
Apart from these criteria, there will be a possibility for validators to signal a website address to complete their resume. Validators will need to build reputation one way or another to attract delegators. For example, it would be a good practice for validators to have their setup audited by third parties. Note though, that the Tendermint team will not approve or conduct any audit themselves. For more on due diligence, see [this blog post](https://medium.com/@interchain_io/3d0faf10ce6f)
@@ -123,14 +121,14 @@ No, they do not. Each delegator will value validators based on their own criteri
Validators have two main responsibilities:
* **Be able to constantly run a correct version of the software:**Validators need to make sure that their servers are always online and their private keys are not compromised.
* **Actively participate in governance:** Validators are required to vote on every proposal.
- **Be able to constantly run a correct version of the software:**Validators need to make sure that their servers are always online and their private keys are not compromised.
- **Actively participate in governance:** Validators are required to vote on every proposal.
Additionally, validators are expected to be active members of the community. They should always be up-to-date with the current state of the ecosystem so that they can easily adapt to any change.
### What does 'participate in governance' entail?
Validators and delegators on the Cosmos Hub can vote on proposals to change operational parameters (such as the block gas limit), coordinate upgrades, or make a decision on any given matter.
Validators and delegators on the Cosmos Hub can vote on proposals to change operational parameters (such as the block gas limit), coordinate upgrades, or make a decision on any given matter.
Validators play a special role in the governance system. Being the pillars of the system, they are required to vote on every proposal. It is especially important since delegators who do not vote will inherit the vote of their validator.
@@ -144,7 +142,7 @@ Validators, and by association delegators, receive block rewards, fees, and have
By delegating to a validator, a user delegates voting power. The more voting power a validator have, the more weight they have in the consensus and governance processes. This does not mean that the validator has custody of their delegators' Atoms. **By no means can a validator run away with its delegator's funds**.
Even though delegated funds cannot be stolen by their validators, delegators are still liable if their validators misbehave.
Even though delegated funds cannot be stolen by their validators, delegators are still liable if their validators misbehave.
### How often will a validator be chosen to propose the next block? Does it go up with the quantity of bonded Atoms?
@@ -152,7 +150,7 @@ The validator that is selected to propose the next block is called proposer. Eac
### Will validators of the Cosmos Hub ever be required to validate other zones in the Cosmos ecosystem?
Yes, they will. If governance decides so, validators of the Cosmos hub may be required to validate additional zones in the Cosmos ecosystem.
Yes, they will. If governance decides so, validators of the Cosmos hub may be required to validate additional zones in the Cosmos ecosystem.
## Incentives
@@ -160,8 +158,8 @@ Yes, they will. If governance decides so, validators of the Cosmos hub may be re
Each member of a validator's staking pool earns different types of revenue:
* **Block rewards:** Native tokens of applications run by validators (e.g. Atoms on the Cosmos Hub) are inflated to produce block provisions. These provisions exist to incentivize Atom holders to bond their stake, as non-bonded Atom will be diluted over time.
* **Transaction fees:** The Cosmos Hub maintains a whitelist of token that are accepted as fee payment. The initial fee token is the `atom`.
- **Block rewards:** Native tokens of applications run by validators (e.g. Atoms on the Cosmos Hub) are inflated to produce block provisions. These provisions exist to incentivize Atom holders to bond their stake, as non-bonded Atom will be diluted over time.
- **Transaction fees:** The Cosmos Hub maintains a whitelist of token that are accepted as fee payment. The initial fee token is the `atom`.
This total revenue is divided among validators' staking pools according to each validator's weight. Then, within each validator's staking pool the revenue is divided among delegators in proportion to each delegator's stake. A commission on delegators' revenue is applied by the validator before it is distributed.
@@ -173,7 +171,7 @@ Validators also play a major role in governance. If a delegator does not vote, t
### What are validators commission?
Revenue received by a validator's pool is split between the validator and their delegators. The validator can apply a commission on the part of the revenue that goes to their delegators. This commission is set as a percentage. Each validator is free to set their initial commission, maximum daily commission change rate and maximum commission. The Cosmos Hub enforces the parameter that each validator sets. Only the commission rate can change after the validator is created.
Revenue received by a validator's pool is split between the validator and their delegators. The validator can apply a commission on the part of the revenue that goes to their delegators. This commission is set as a percentage. Each validator is free to set their initial commission, maximum daily commission change rate and maximum commission. The Cosmos Hub enforces the parameter that each validator sets. Only the commission rate can change after the validator is created.
### How are block rewards distributed?
@@ -181,11 +179,11 @@ Block rewards are distributed proportionally to all validators relative to their
Let us take an example where we have 10 validators with equal voting power and a commission rate of 1%. Let us also assume that the reward for a block is 1000 Atoms and that each validator has 20% of self-bonded Atoms. These tokens do not go directly to the proposer. Instead, they are evenly spread among validators. So now each validator's pool has 100 Atoms. These 100 Atoms will be distributed according to each participant's stake:
* Commission: `100*80%*1% = 0.8 Atoms`
* Validator gets: `100\*20% + Commission = 20.8 Atoms`
* All delegators get: `100\*80% - Commission = 79.2 Atoms`
- Commission: `100*80%*1% = 0.8 Atoms`
- Validator gets: `100\*20% + Commission = 20.8 Atoms`
- All delegators get: `100\*80% - Commission = 79.2 Atoms`
Then, each delegator can claim their part of the 79.2 Atoms in proportion to their stake in the validator's staking pool.
Then, each delegator can claim their part of the 79.2 Atoms in proportion to their stake in the validator's staking pool.
### How are fees distributed?
@@ -197,7 +195,7 @@ Let's take a concrete example to illustrate the aforementioned concept. In this
First, a 2% tax is applied. The corresponding Atoms go to the reserve pool. Reserve pool's funds can be allocated through governance to fund bounties and upgrades.
* `2% * 1025.51020408 = 20.51020408` Atoms go to the reserve pool.
- `2% * 1025.51020408 = 20.51020408` Atoms go to the reserve pool.
1005 Atoms now remain. Let's assume that the proposer included 100% of the signatures in its block. It thus obtains the full bonus of 5%.
@@ -205,23 +203,23 @@ We have to solve this simple equation to find the reward R for each validator:
`9*R + R + R*5% = 1005 ⇔ R = 1005/10.05 = 100`
* For the proposer validator:
* The pool obtains `R + R * 5%`: 105 Atoms
* Commission: `105 * 80% * 1%` = 0.84 Atoms
* Validator's reward: `105 * 20% + Commission` = 21.84 Atoms
* Delegators' rewards: `105 * 80% - Commission` = 83.16 Atoms (each delegator will be able to claim its portion of these rewards in proportion to their stake)
* For each non-proposer validator:
* The pool obtains R: 100 Atoms
* Commission: `100 * 80% * 1%` = 0.8 Atoms
* Validator's reward: `100 * 20% + Commission` = 20.8 Atoms
* Delegators' rewards: `100 * 80% - Commission` = 79.2 Atoms (each delegator will be able to claim their portion of these rewards in proportion to their stake)
- For the proposer validator:
- The pool obtains `R + R * 5%`: 105 Atoms
- Commission: `105 * 80% * 1%` = 0.84 Atoms
- Validator's reward: `105 * 20% + Commission` = 21.84 Atoms
- Delegators' rewards: `105 * 80% - Commission` = 83.16 Atoms (each delegator will be able to claim its portion of these rewards in proportion to their stake)
- For each non-proposer validator:
- The pool obtains R: 100 Atoms
- Commission: `100 * 80% * 1%` = 0.8 Atoms
- Validator's reward: `100 * 20% + Commission` = 20.8 Atoms
- Delegators' rewards: `100 * 80% - Commission` = 79.2 Atoms (each delegator will be able to claim their portion of these rewards in proportion to their stake)
### What are the slashing conditions?
If a validator misbehaves, their delegated stake will be partially slashed. There are currently two faults that can result in slashing of funds for a validator and their delegators:
* **Double signing:** If someone reports on chain A that a validator signed two blocks at the same height on chain A and chain B, and if chain A and chain B share a common ancestor, then this validator will get slashed by 5% on chain A.
* **Downtime:** If a validator misses more than 95% of the last 10.000 blocks, they will get slashed by 0.01%.
- **Double signing:** If someone reports on chain A that a validator signed two blocks at the same height on chain A and chain B, and if chain A and chain B share a common ancestor, then this validator will get slashed by 5% on chain A.
- **Downtime:** If a validator misses more than 95% of the last 10.000 blocks, they will get slashed by 0.01%.
### Do validators need to self-delegate Atoms?
@@ -233,8 +231,8 @@ In order for delegators to have some guarantee about how much skin-in-the-game t
For now the community is expected to behave in a smart and self-preserving way. When a mining pool in Bitcoin gets too much mining power the community usually stops contributing to that pool. The Cosmos Hub will rely on the same effect initially. Other mechanisms are in place to smoothen this process as much as possible:
* **Penalty-free re-delegation:** This is to allow delegators to easily switch from one validator to another, in order to reduce validator stickiness.
* **UI warning:** Users will be warned by Cosmos Voyager if they want to delegate to a validator that already has a significant amount of staking power.
- **Penalty-free re-delegation:** This is to allow delegators to easily switch from one validator to another, in order to reduce validator stickiness.
- **UI warning:** Wallets can implement warnings that will be displayed to users if they want to delegate to a validator that already has a significant amount of staking power.
## Technical Requirements
@@ -264,10 +262,10 @@ A successful validator operation will require the efforts of multiple highly ski
Validators should expect to run an HSM that supports ed25519 keys. Here are potential options:
* YubiHSM 2
* Ledger Nano S
* Ledger BOLOS SGX enclave
* Thales nShield support
- YubiHSM 2
- Ledger Nano S
- Ledger BOLOS SGX enclave
- Thales nShield support
The Tendermint team does not recommend one solution above the other. The community is encouraged to bolster the effort to improve HSMs and the security of key management.