So you need to transfer 2k liquid hive to your vsc node account and stake it on VSC (24hr unlock period). I.e. it is not to be staked on Hive but on VSC
In addition you will need to delegate 100 HP to your node running acco6nt
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Right. So, the account in the env is the one that need the 2k liquid HIVE and 100 HP (on L1 chain), right? 😁
I'mfeeling a bit alow this morning 😂
Thank you for checking and explaining! 🫶🏼
!BBH !SLOTH !DUO !LUV
exactly
Need to check up on how to transfer to the vsc network 😆
Gotta get home first though
Thank you! 🙏🏼
!BBH !BEER
Wait, so 2000 liquid AND 100 HP staked? Def going to be a no from me. That sounds like some, you need 32 ETH to run a node crap, that will wind up centralizing the hell out of the nodes because I know I am not putting up nearly $500 in Hive
I see what you mean. I don't know if it's the case on the L1 too, but aren't there some kind of requirement to run a node?
To me all network that use nodes seem to be more or less towards the the centralized rather than decentralized. Perhaps it's just methough, but it seems to be the standard 🙄
!BBH !SLOTH
No, with L1, all you need is the machine or VPS, set up and start witnessing. You will need Hive Power to support the resource credits needed, but it's not 2000HP.
And yes, most, if not all proof of stake chains are leaning more to the centralized direction, at least the majority power with a very few kind of thing. I have worked in various ecosystems over the years, and it's a problem in all of them.
It's the best most decentralized and secure way we can launch the network
If that's the way you had to build it, then it is what it is, but that seems like a pretty big barrier of entry, which isn't really that decentralized. Any return guarantees for my locked Hive? Or will I still have to pander for votes?
The barrier to entry is still far less than of others like Hive consensus. Rewards will be going live later this Summer on a proportional basis to your locked Hive. So if 2000 Hive gives you 5% of the total locked Hive, then you would get 5% of the total fee pool
Thanks for the clarification by the way. I poke bears when something doesn't seem right. And like I said in the last comment, the docs are lacking this kind of information.
Docs will get updated. Moving fast right now
Ah I gotcha. So it's not a delegated proof of stake type of thing, it's a just straight up proof of stake node where who has the most resources bonded gets the most of the pool? Don't have to worry about the popularity contest?
If that's the case, then that is a whole other story. If all the computational resources needed is a Pi 4 or better, then the 2000+ Hive makes a bit more sense.
What is the story on getting that bonded Hive back if we decide to shut down the node? The only reason I ask is because the docs are lacking a bunch of information like this, which I see as important information.
That's correct. There is no voting structure or anything like that. We might add it in the future for things like governance parameters, or DAO proposals, but core consensus will remain largely how it is initially designed.
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