We officially launch the Block Producer recruitment and anyone meets the requirements can participate in the Block Producer election. This paper will introduce the Block Producer election rules of Bystack in detail, so as to help individuals and institutions who are willing to be the Block Producer of Bystack.
Node candidates should meet the following basic conditions:
BTM donated by Bytom Foudnation will be distributed to Block Producers and Standby Block Producers
Block Producer A ranks no.5 so its Block Production reward is approximate:
Q：What's the rewards of Block Producers and Standby Block Producers?A: Bytom Foundation will donate 10million BTM in the first year. 10 Block Producers will be rewarded more than 6 million BTM in total and every Block Producer will be rewarded 600K BTM. The rewards of Block Producers are same. 32 Standby Block Producers will be rewarded about 4 million in total for one year and their rewards are determined by voting proportion.
Q:When can Block Producers get the reward?A:After Block Producers produced a block and they will get Block Production Reward; Standby Block Producers will get rewards within one day.
Q: How often does Bystack statistic votes and update the ranking?A: Everyday.
Q: Voters can get the voting bonus, what's the bonus?A: It's determined by Block Producers.
Q: Should I stake BTM when I apply, How can I redeem the staking BTM, is there a redemption flow?A: You don't need to stake when you apply and provide your own BTM address. We will provide redemption guidance before the launch of the sidechain.
Q: Is there any voting rule? Can we know the voting rules now? How many candidates can 1 BTM vote? When can I vote to someone else again? Will my BTM be frozen?A: We will launch the vote on July 5th and we will provide app for votes.One BTM, one vote. BTM will be locked after voting and your BTM will be unlocked in 20 days, then you can vote for others.
Q: I have the qualified amount of BTM but my technical skills are weak and will you provide supporting facilities then I can participate in Block Producer election after simple deployment?Matpool under the umbrella of 8BTC will provide technical service for Block Producers before July 5th.
Q: How much will the sidechain reward be after the first year? What do you refer to?A: The rewards of Block Producers refer to 2 points
1. Provide rewards to Block Producers and voters as much as possible, attract more people to participate in the sidechain ecosystem.
2. It shouldn't influence the profits of POW miners.
Q: what the recommended configuration of Bystack is so high?A: It's recommended configuration, not the minimum configuration. We won't require such a high configuration at the initial stage of the sidechain, but with the development of the sidechain ecosystem and the increase of the sidechain data, the configuration will need to meet our recommended configuration to produce block stably.
Q: As mentioned in the whitepaper, sidechain supports pluggable consensus, how can 10 Block Producers support the Block Production of all the sidechain?A: We adopted BBFT and 10 Producers produce a block in turn. If less than a third of the Block Producers fail, sidechain can still run normally.
Q: what is the requirement of node CPU for main frequency?A: recommended CPU type: Intel Xeon e5-2682 v4 (Broadwell) or Platinum 8163 (Skylake) 2.5 GHz.