Validators
Deploy your node on the Fetch.ai chain and help secure the network whilst earning $FET.
The Network
The Fetch.ai network is an interchain protocol, based on the Cosmos-SDK, and uses a high-performance WASM-based smart contract language (Cosmwasm) to allow advanced cryptography and machine learning logic to be implemented on-chain.
This also allows the Fetch network to serve as a layer-2 network for Ethereum and as an interchain bridge to the rest of the blockchain world.
Validator Roles
Validators will produce blocks on the Fetch Network mainnet, in exchange for rewards, but also experience a number of other benefits.
Greater say in the future direction of the protocol through their role in governance.
Reputation as a valued member of the community.
Faster submission of transactions and direct access to the network operation.
Validator Revenue
Similarly to most other Proof-of-Stake blockchains, the Fetch AI ledger provides revenue to validators in the form of block rewards and transaction fees. Smaller holders of FET tokens are able to delegate their stake to validators in exchange for a share of the rewards, as determined by the validator.
Block Rewards (FET)
Rewards are provided for every block that is produced by a validator. The inflation rate is set at an annual rate of 3% during the first three years of the network’s operation.
Transaction Fees
All transactions that are submitted to the chain are charged a transaction fee in FET tokens.
Digital Twin and Machine Learning Services
Validators can also support AI and Digital Twin-based services such as hosting datasets for machine learning applications, search-and-discovery services and operating networks that provide oracle services.
Joining as a Validator with Fetch.ai
The hardware resources for running a validator node largely depend on the network load. As a recommended configuration we suggest the following requirements.
Uptime is incredibly important for being a validator. It is expected that validators will have appropriate redundancies for computing, power, connectivity etc.
While the blockchain itself is highly replicated it is also expected that validators will perform local storage backups in order to minimize validator down time.
8 GB RAM
500 GB SSD
100 Mbps always-on internet connection
Linux OS (Ubuntu 18.04 or 20.04 recommended) / MacOS
2 x CPU, either Intel or AMD, with the SSE4.1, SSE4.2 and AVX flags(use lscpu to verify)
Technical Information
Where is the Source Code?
The source code for the Fetch.ai ledger can be found on Github, which also contains installation instructions. These involve installing Golang and a C++ compiler that is used to build several specialized cryptographic libraries.
Becoming a Validator
Validator candidates can bond their own FET and have FET delegated, or staked to them by token holders. The validators are determined by who has the most stake delegated to them. The validators with the most stake will have more say in the governance of the Fetch Network.
If validators double sign or have prolonged downtime, their staked FET (including FET of users that delegated to them) can be slashed. The penalty depends on the severity of the violation.
After Setting up a Node
Create a dedicated Validator website,Telegram and Twitter account.
This is important since delegators will want to have information about the entity to which they are delegating their FET.
Add your Node
Fill in this form with all the information on your node.
Join Discord
Join Fetch.ai’s Discord Server and introduce yourself.