Hey guys and gals.
I want to request an Option where possible validators, after an internal Check and approval, can switch from delegation into validation without having to undelegate and wait 21 days.
It’s neither in the interest of the future validator, nor in the interest of the network and company to prolong the process.
It should not be a Standard available Option but an internal approval process.
Personally, I would not support the option. As it compromises the security of the network. In contrast to ETH 2.0, the embargo period for Function X is still very humane. Eth 2.0 approx. 1-2 years. And we say very long with the Lock time.
Hashout April 2020 " Is there a lockup period?
Yes. The lockup period for validator and delegators are similar, it is 21 days for the withdrawal request. This is to prevent bad actors (worse is take over attempts) from flooding in or out of the ecosystem. Function X: April Hash Out. In this issue of Hash Out, we will dive… | by Zac Cheah | Function X | Medium "
There wont be a flood out because it’s a switch of the System it wont be possible to take it out.
think you’ll fine it can’t be done because you have to end your delegation contract your self to start, no one can do that for you or you wouldn’t have control of your funds, second there is still a creation process in creating the nodes setup to be a validator, it’s not like switching 1 light off and another on, you need to have the funds to set up the node and enter setup details and settings.
It wasnt for me. I have another Plan to validate next year and I need to clear the German taxgame before becoming a validator, right now it’s not useful to validate out of Germany. So I dont have a Problem with the 21 days down time.
I just thought of other people that have that Problem. And a swap with quality Check and direct approval could result in better and faster decentralization.
I hope the future validator get informed 21 days before stage 2. most of them have delegated to a team nodes and need to undelegate.
What will happen to the team nodes after stage 2? I think the team won’t shut down all the team nodes at the same time. Unfortunately in stage 2 something must change to the team nodes.
- needed fx to run a node (like a public validator need 100k fx to run a node and not 100fx)
- If we always reach 51 Validators that we close one team node. aim should be 50+ public validators and no more official team nodes.
If nothing change by stage 2. Than the future validators will have hard to gain any new delegators because almost nobody won’t undelegate from a trusted team nodes with 1% commission to a public validator with higher Commission. Some of the future validator will look what the best option is for them and will only delegate instead to start a node because of the server cost (2500usd).
Those are my concerns. I would be happy to receive further information from all.
People worry to much; you know the team wants this to work and be successful right, I for one have prepared for starting my node I wouldn’t be worried about the ones wanting to be validators like me you’ll find they are ready and waiting, decentralisation is all about the community thinking for them self those that are waiting to move when they see their choices are available as they understand the eco system will when the time comes, for everyone else the team will change their commission level if necessary people will chase the gains possible on other validators, blocks are created by groups of up to 50 validators I don’t believe this means there will only be 50 Validators needed; you’ll find a lot of people that have waited for this over 3 years are well aware of what they want from Function X.
thanks for the quick answer
It sounds like an interesting idea, since you’d be switching to being a validator, you would still be subjected to the 21 days, therefore it shouldn’t bring a network security risk. Let me run this idea by the team.
A small concern, this would make the process less decentralized. Correct me if I’m wrong.
Yes correct. That was just the quality engineer in me Speaking…
If it’s fine for you to use the way with a bit more programming and implementation the I would always prefer the decentralized way.
But how does that relate to:
“Quality third party validators will be selected, not at random. Finally will open up to everyone. Applies to #PundiXChain and #Fxcore”
(Quote from a tweet from Zac)
Maybe i don’t understand it correctly, but i read this as that the first public validators wil be selected by team?
And after that, it will be open for everyone?
Or am i mistaken?
So the proposal by @Alchimist would fit this?
What qualifies a quality third party?
Btw: i would be in favor that first bunch of validators are selected, e.g., those who participated in testnet.
yes Jan Zac just means trusted supporters & test net testers and probably some trusted Businesses, just to get a good strong security into the system before opening up to just anyone.
will one cloud Node be able make a Validator for both FX core & Pundi x Chain or do we need a separate node for each Validator, might be a dumb question but I’m curious