How to become a validator

The Ecrox network operates through validator nodes hosted by participants worldwide. It offers entrepreneurs a seamless integration for payments into their products and facilitates user onboarding to a platform that enables payments, transactions, and financial services in various currencies.

Access to the network is public, and the code is open-source, allowing customization and localization as needed. Communities on the Ecrox chain pay a fee to validators for validating transactions, with more usage leading to increased rewards for validators, thus incentivizing network growth.

Being a validator means holding Ecrox tokens and running a node that validates transactions on the network. Validators use special software to validate and sign transactions every 5 seconds, earning block rewards in the form of Ecrox tokens. A yearly inflation of 5% is distributed among all validators.

Validators contribute resources to maintain the network, need technical knowledge for hosting the software, and participate in network governance through voting. They play a crucial role in maintaining and steering the network's future through governance mechanisms.

Who should become a validator?

1. Companies building on the network can collaborate using Ecrox's open-source stack, becoming stakeholders and earning rewards as the network grows.

2. 3rd-party service providers like KYC, exchanges, lenders, etc., can become stakeholders, facilitating cross-blockchain transactions without intermediaries.

3. Community operators on Ecrox can upgrade to validators, providing better access to clients.

Who can become a validator (Technical requirements):

• Minimum 100K tokens staked or delegated, locked in a contract.

• Running a full node with blockchain and web hosting knowledge.

Who shouldn’t become a validator:

• Non-technical users or holders looking for passive involvement.

• Simple holders can delegate their Ecrox tokens to validators to earn rewards without becoming validators themselves.

How to become a validator:

1. Stake or delegate a minimum of 100K Ecrox tokens.

2. Lock tokens in a contract.

3. Run a full node with technical expertise in blockchain and web hosting.

This approach fosters active participation, collaboration, and growth within the Ecrox network, aligning stakeholders' interests in network operation and governance.