Bytom2.0 Block Producer recruitment plan

As Bytom 2.0 gets gradual improved and the launch of the testnet, it will start the recruitment of Block Producers. Any subject and individual who meets the selection criteria can participate in the node election and obtain reward. Bytom2.0 will elect 10 Block Producers based on the number of votes, and these 10 selected nodes will take turns to produce blocks. Bytom2.0 has no candidate nodes.

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Introduction to the key points of the Bytom2.0 consensus algorithm

    Bytom 2.0 Block Producer recruitment guidance

    • Block Producer recruitment will be launched on, June 24, 2021, which will be open for long-term;
    • Candidates who meet the requirements can submit their applications immediately ( conditions can be viewed below);
    • Filtering during the registration process;
    • After the candidate passes the audit, the website will publish the candidate information and real-time staking balance as well as the dynamic results of the candidate ranking.

    Bytom 2.0 Block Producer conditions

    • Candidates participating in Block Producer recruitment must stake at least 1,000,000 BTM, the BTM is for breach of contract as PoS punishment. If the BTM reaches 0 because of evil deception, the candidate will lose the qualification (even if the number of votes is in the top ten);
    • You should have your own servers, Block Producer operation and maintenance technologies that can run Block Producers (please refer to the detailed rules below for specific software and hardware requirements);
    • A certain scale of community users will be priority;
    • Those who have contributed a lot of Bytom ecosystem will be priority;
    • Previously being sidechain Block Producer or candidate Block Producer will be priority;
    • Node hardware, software, and network environment requirements
      SystemCentOS 7 / Ubuntu 18.04
      CPU8 Core
      RAM32 G
      Storage3TB SSD
      Bandwidth50 Mbps

    Bytom 2.0 Block Producer reward

    • The profits of Block Producers are mainly from Block Production reward and transaction fees and the Block Production reward is limited to 30 million BTM.
    • Block reward = the number of blocks produced by the node * the reward for each block, the more the number of blocks, the more rewards, the node suspension caused by the failure or the network will affect the reward.
    • Ten consensus nodes divide the block reward equally, so each node can get up to 3 million BTM per year.
    • Bytom2.0 Bytom2.0 Block Producers produce blocks in turn, one block every 6 seconds, and each Block Producer produce one block at a time.
    • ROI for Block Producers of every year is about 30%~60%.
      TimeReward
      every block5.7 BTM
      every day82,191.78 BTM
      every year30,000,000 BTM

    Bytom2.0 Dashboard

    FAQ

    • Q1. How to determine the profits of Block Producers?
    • The profits are determined by voting and dividends, and depending on the block production of the Block Producers. Assuming the total lock-up amount is 100 million BTM, 1 million BTM from the Block Producers, and 800,000 BTM votes are obtained at the same time, and the dividend is 80%, then the Block Producers can gain the profit of 600,000 BTM every year, with 60% APR (BTM standard).
    • Q2. When will the Block Producers be rewarded?
    • The Block Producers will receive node rewards in real-time after the block is produced;
    • Q3. How often will the votes be counted and the ranking be updated?
    • Ranking will be updated once per round (about 100 blocks)
    • Q4. How much is the dividend reward for voters?
    • The dividend rewards for voters are set by the Block Producers.
    • Q5. Can I withdraw my vote after the votes are enough?
    • No, PoS requires Block Producers to pay votes as deposits in case of doing evil.