How to Become a Node Operator with Vnode?
Vnode continues to create bridges between major blockchain networks with the long-term goal to materialize the promise of blockchain composability, which fosters instant liquidity and addresses the fragmentation of the industry. The key players of Vnode are node operators, otherwise known as Blockchain Node validator.
The good news is that everyone can become a node operator with Vnode and start earning profit from Vnode daily, as Vnode is committed to decentralization and is gradually moving from a centralized entity to a community-powered ecosystem that hosts a Decentralized Autonomous Organization (DAO). The transition to a fully decentralized network is going on according to the roadmap.
Vnode Network operators contribute to secure the asset switch from one blockchain to another (Vnode peg-in and peg-out) as well as powering all of the features and services within the ecosystem. Vnode network run code that is continuously audited, fully open-source, and supported by live attestations.
Vnode Dawn (an open network that enables the secure transfer of value between any blockchain), hosts two types of node operators, one contributing to the validation of Vnode -powered operations (example: cross-chain movement of assets via Naas) and the other constantly verifying the security of the network, challenging the correct behavior of validator.
The former category is responsible for operating the system, while the latter set of node operators guarantees transparency and security of the network. Vnode Dawn ensures the system integrity and correctness are always monitored.
Obviously, if you run a Vnode network, you are rewarded for doing so. The decision to incentive node operators has been approved recently by the DAO.
Each bridge needs three key elements, including:
· A full node for every blockchain being bridged.
· Secure enclaves running inside the so-called Trusted Execution Environments (TEEs).
· A network of nodes that jointly cooperate to generate and manage the private keys(s) used to run the peg-in and peg-out processes.
Thus, for every bridged blockchain, there is a full node, and it is the job of node operators to make sure that all the processes work properly.
If you join as a node operator, you become eligible to receive rewards. The payment for the fees considers the asset that users transfer cross-chain. For example, while processing the peg-out of BTC on Ethereum, a fee would be collected by the system in BTC and distributed to Network nodes.
How to Set Up a Vnode Node?
There are several conditions to meet in order to become a node operator. Here are the two main ones:
· You have to buy a package as per the vnode within the DAO ecosystem.
· Then our team setup and manage a server running for a node on a TEE. Node operators have to register their node account with us and verify so that it is effectively recognized as part of the Vnode network. The node needs to be connected with the cross-chain network.
Vnode operators are rewarded for their effort. The Vnode rewards derive from the peg-out fees paid by users. Unlike other cross-chain systems, Vnode charges no fees for peg-in operations. There is a small fee of 0.25% for peg-out processes. Also, there are other fees for additional features, such as Vnode Portals. The fees are equally distributed among node operators. In order to discourage misbehaving nodes, the DAO slashes the of node operators who either provide bad QoS or cannot ensure valid attestations.
By joining Vnode as a node operator, you contribute to the improvement of the blockchain ecosystem and at the same time, you get exclusive benefits (commissions from the operator node and staking prize of the Vnode DAO).
You can follow our worldwide community and get instant update from us;-
Telegram Official Group: https://t.me/vnodecommunity
Telegram Official Channel: https://t.me/vnodechannel