Delegation: Difference between revisions
| [checked revision] | [checked revision] |
CryptoUser (talk | contribs) No edit summary |
CryptoUser (talk | contribs) No edit summary |
||
| Line 5: | Line 5: | ||
|description= Delegating coins in the Decimal Blockchain | |description= Delegating coins in the Decimal Blockchain | ||
}} | }} | ||
'''Delegation''', or '''delegating''' is the process of linking the delegator`s [[coin | '''Delegation''', or '''delegating''' is the process of linking the [[delegator]]`s [[stake|coin stake]] to the selected [[validator]]. | ||
Delegation is carried out due to a special [[transaction]] on the [[Decimal network]] in which funds are blocked on the user's account, while increasing the stake of the selected validator. Any user of the network can delegate their [[DEL|DEL coins]], as well as any [[custom coin|custom coins]] and [[NFT]] [[issue]]d on the Decimal network. | Delegation is carried out due to a special [[transaction]] on the [[Decimal network]] in which funds are blocked on the user's account, while increasing the stake of the selected validator. Any user of the network can delegate their [[DEL|DEL coins]], as well as any [[custom coin|custom coins]] and [[NFT]] [[issue]]d on the Decimal network. | ||
Revision as of 18:06, 26 March 2024
Delegation, or delegating is the process of linking the delegator`s coin stake to the selected validator.
Delegation is carried out due to a special transaction on the Decimal network in which funds are blocked on the user's account, while increasing the stake of the selected validator. Any user of the network can delegate their DEL coins, as well as any custom coins and NFT issued on the Decimal network.
Delegation performs several important functions on the network:
1. The power of the voice
By delegating funds, each user increases the validator's stake. The larger the total stake of the validator, the higher it rises in the rating of validators. In case of changes on the blockchain, the proposal put to the vote by the developers is accepted by the first nine validators in terms of voting power.
2. Reward
Generation of new DEL coins occurs only on delegated coins.
3. Security
Technically, when delegating, the validator does not get access to the delegator's funds, since these funds actually remain in the delegator's account. Delegated coins are linked (bonded) to the validator's account balance, while the owner of the coins simply cannot dispose of the delegated funds until he unlinks (unbonds) them from the validator with the appropriate request. The validator does not have access to the delegated coins and cannot withdraw or spend them.
Delegation fee
In the Decimal blockchain, the transaction fee consists of a fixed rate for the transaction type and the cost per unit of transaction volume in bytes.
Fixed rate: 1 unit = 0.001 DEL
The delegation fee is 200 units, which is equal to 0.2 DEL.