4 min read · Feb 15, 2023
--
The Cosmos ecosystem employs validators as a security and consensus method to assure the functionality and security of its network. The selection of validators is made more difficult by the emergence of new technologies and protocols.
The delegated proof-of-stake (dPoS) mechanism allows users to stake to a validator and provide it with particular privileges.
Before delegating to a validator, please consider the following points.
1/ Block commitment is the first.
This means generating and releasing new blocks, which contain newly recorded transactions, to the blockchain.
2/ The second objective is to provide a secure infrastructure that enables users to stake tokens and earn incentives for maintaining network security.
To offset their own expenses, validators receive a share of the staking rewards in exchange for their services.
3/ Finally, governance is important because you delegate your voting power by staking it with validators.
Therefore, validators must participate in governance and decision-making processes in order to contribute to the network’s general health and stability.
Validators gain influence through staking; hence, it is vital to stake with validators whose beliefs agree with your own.
✅ Get more basic information
Check out Validator’s website to learn more about the company and the projects it is actively validating, as well as its strategy, team, and past successes. It is best to stay away from centralized exchanges if you want to take part in the primary airdrops.
✅ Evaluate the contributions and services offered
Some validators provide vital ecosystem services, such as relaying services. Relayers facilitate the movement of assets from one blockchain to another via IBC, making their support crucial.
Supporting validators that provide tools and technical services for the community, such as RPCs and APIs for developers, is also essential. Consider delegating to people who actively work to develop various protocols and contribute to the codebase.
Another factor to consider when selecting a validator is their level of community education and expertise. Validators who devote time and energy to developing educational content for the community play a crucial role in the ecosystem’s success. Assist them.
For example, Beehive is active in South Korea and Vietnam. We offer Korean and Vietnamese translation services for important Medium posts, like ones about the governance of Cosmos and Evmos ecosystem tokens. We are also doing well with governance voting.
✅ Select conveniently accessible validators
As you stake your assets with a validator, you have the right to communicate with them and ask any questions. This means that you should be able to contact your validator via channels like Discord, Telegram, Twitter, and email.
✅ Validate their engagement in governance
Validators should contribute to the stability of the network, which they can do via governance. By staking with a validator, you grant them additional voting power; consequently, choose a validator that participates in governance.
Select a validator that supports your vision. It is natural to not always totally agree with your validator, but it is essential to select one whose beliefs and objectives fit with yours. You may still overrule your validator’s vote if you disagree with their decision.
✅ Diversify and improve decentralization
Delegate to several validators in order to limit risks and increase decentralization. By delegating to validators with a lesser stake, you can contribute to a more uniform distribution of power across the network. Contribute to decentralization by staking validators that are among the top 20 to 100.
✅ Consider security and performance
Consider validators with high security and uptime metrics: You should choose validators that provide positive timeliness and network performance. Look for validators with high uptime, the ability to establish security standards, and the systems necessary to identify malicious activity.
You should also review the validator’s software to ensure that it is up-to-date and capable of meeting the ecosystem’s requirements. Ensure that the validator’s software has been thoroughly tested and functions securely and effectively.
✅ Analyze the reliability of the validator
The reputation of a validator is a consideration while staking. Check which project they’re validating and how they’re supporting the respective chains. This provides a history of the validator’s standing in the ecosystem.
Using these guidelines, it is important to discover and select validators to offer the Cosmos ecosystem the most efficient and secure consensus mechanism. The best strategy to assure the security and dependability of a network is to conduct a thorough study and weigh all relevant variables prior to selecting validators.
We hope this was informative. Validators are an essential element of Proof-of-Stake (PoS) blockchains, and it is crucial to select ones that agree with your ideals.
Please feel free to like or share our posts, follow us, or stake with us in order to support our work.
