Did you know? The gas fees you have to pay on PulseChain or any other blockchain to make a transaction are paid in part to the validators. 75% of all gas fees on PulseChain go to the validators and their delegates.
We pay them to verify the legitimacy of each transaction and keep PulseChain healthy and alive by producing new blocks. The remaining 25% is burned to reduce the PLS supply in circulation, encouraging PLS deflation.
Being a validator means that you will get a portion of the gas fees of every transaction on your block.
So, if a user chooses you as their validator, you will get 75% of the gas fees of each of his transactions.
So, you're probably asking yourself if everyone can become a validator? The answer is YES! Anyone can become a validator, and in today's video, we'll show you step by step how to become a validator.
So, as usual, watch this video to the end, so you don't miss any details.
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Let's get started!
We told you everything you need to know about validators in one of our previous videos. If you missed that video, you could watch it for more understanding. But, in a nutshell, validators are PulseChain nodes that check the validity of each transaction and generate new blocks. The 33 validators with the most PLS tokens will validate or reject transactions. They receive a financial reward when they validate a transaction and generate a new block.
Now we will show you how to become a validator on PulseChain.
First, you'll need to launch a full PulseChain node with enough storage and computing power to verify transactions and produce new blocks. High availability of this node is essential; otherwise, you risk getting cut and losing money.
When the blockchain is up and running, you need to sign up by staking 500K PLS. This can be done easily on a website or via the command-line interface, depending on the blockchain. On PulseChain, this can be done via the staking website https://stake.howtopulse.com/
So, you get the idea. To become a validator, you need to stake a substantial amount of the native token, in this case, 500K PLS. Note that this will be a non-refundable amount. The high cost is intended to avoid spam and attract only serious validators. Once the entry fee is paid, the user becomes part of the validator pool. To start validating new blocks and receiving their share of the transaction fee, the validator must be among the top 33 players in the validator pool. These are called Linked Validators. Note that the size of the bet does not affect the amount of the reward. The bet size only helps to put a validator into rotation. Once in rotation, validators take turns processing trades and are rewarded much the same way.
It should also be noted that validators can unregister at any time, but they will only be removed from the pool at the next validator rotation. Validator rotation occurs every 28,000 blocks or about every 24 hours at about 21:05 UTC. This is called an era. After each era, a validator is rewarded for the amount due, and the validators are rotated by removing those who have decided to quit or replacing low-stakes validators with those who now have higher stakes.
Another interesting thing to know about validators is that you can specify how much of the revenue will go to the delegators when you sign up. A higher share will potentially attract more delegators since they can earn more by delegating their PLS. A lower share will mean more PLS for the validator himself.
So, guys, before we show you step by step how to do it, if you've already benefited from this video, please like and share if you haven't already. Now let's continue.
If you want to become one of the 33 validators, you must meet a few requirements.
-First, you need to be comfortable with maintaining, securing, and monitoring a server.
-Second, you must be running a fully synchronized PulseChain testnet node. If you don't know how to do this, go to the GitLab sites to get all the instructions you need.
-And finally, you must have 500 000 PLS in a MetaMask portfolio.
Once you complete all of these conditions, you will need to follow some steps:
1: Go to stake.howtopulse.com and log in with a wallet containing 500,000 PLS.
2: Select the "Validator Registration" tab.
3: Click on "Verify" to see if your wallet contains 500,000 PLS.
4: Move the slider to the right until the "Deposit Amount" shows 500,000 PLS.
5: Then press "DEPOSIT."
6: Now log in to your full node and add the required information to your node to turn it into a validation node.
We have put this information in our description. So, you can copy and paste it into a specific box.
7: After that, your Validator node should now be ready and will be competing for one of the top 33 spots in the next rotation.
A validator can unregister from this same page. After unregistering, a validator is removed from the list of active validators in the next rotation. A new deposit is not required to become active again.
Now let's talk about the delegators!
Well, PulseChain is democratic!
This is where democracy comes in because anyone with a PLS can vote for their favorite validator and earn money from the transactions they validate. People can delegate their PLS to their favorite validators to pump the validator's stakes and move them up in the ranks. Why? Simply because the more a validator has wagered in the validator pool, the more transactions they will verify, thus the more money they will have in their pockets. The delegators, in turn, will receive their share of the transaction. Choose your validator wisely and earn money!
Isn't it wonderful? PulseChain is a world where you get paid to vote for your favorite leaders. By giving anyone the ability to delegate their PLS, people have the opportunity to say, "This validator is the one I believe can make PulseChain thrive!"
Staked Proof of Authority (PoSA) ensures that PulseChain remains a self-sovereign blockchain. Decentralized blockchain governance empowers the people and allows validators to behave properly.
Any PLS holder on PulseChain can participate in the governance of the chain by delegating their PLS to registered validators. In other words, you vote by locking your PLS on one of the validator's bets and earn a return.
This can be done on the HowToPulse Staking & Validator website. We have put the link in the description of this video.
1: First, choose your validator.
2: Then click on the icon in the "My Stake" column
Enter the amount you wish to delegate to this validator
Click on "ADD
3: Then, confirm the transactions in your crypto wallet; however, a minimum amount of fuel fee will need to be paid.
4: Once this is done, you will see a confirmation at the top of the website, and the % of your reward will be displayed in the "My Revenue Share" column.
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