Multi-factor authentication and Instruction:How to choose a validator: Difference between pages

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How do I choose a validator?


More information in the article:  DecimalChain Delegators


Сhoosing a  validator is an important and timely question for any user in DecimalChain. In order to get the maximum benefit from staking, you need to take into account the validator's fee, the reliability of the node, bonuses and promotions during staking, the minimum stake for entry, and other indicators.


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To become a network delegate, you need to take three steps — get DEL coins or other Decimal network coins, choose a validator, and bond your coins to the validator you chose.
Content


·2FA / Multi-factor authentication
The importance of choosing a validator


o
The basic remuneration for all validators is the same and depends only on the general network parameters. However, each validator offers different conditions for the delegators. Therefore, after carefully studying all the conditions, you can get additional benefits, such as a favorable validator fee, absence of penalties, permanent or one-time cashback, participation in promotions, and so on.


§The categories of such evidence include:
Poor performance of the validator can lead to  penalties for errors in the form of missed blocks, node unavailability, and double signature. This, in turn, will lead to a loss of funds — burning part of the bonded funds or forcibly withdrawing funds from the staking.


·Double-factor authentication
Therefore, there is a strategy of choosing several high-quality nodes with favorable staking conditions and distributing your stake among them.


2FA / Multi-factor authentication
List of validators


Multi-factor authentication is an extended verification procedure (or a method of controlling access to a computer). To gain access to information, the user must present more than one “proof”.
Validator selection criteria


'''The categories of such evidence include:'''
When choosing a validator, you need to consider the following criteria::


''Data that the subject possesses.''
Reliability
The reliability indicator is the number of warnings and penalties previously imposed by the system on the validator.


This is secret information that only an authorized subject knows. The password can be a speech word, a text word, a combination for a lock or a personal identification number (PIN code.). However, it has significant drawbacks: it is often difficult to keep a password secret, because attackers are constantly coming up with new ways of stealing, hacking and password selection. This makes the password mechanism unsecure. Many secret questions, such as “Where were you born?”, are elementary examples of the knowledge factor, because they can be known to a wide group of people or be investigated.
Validator strength (stake size)
This is the validator's own funds and his motivation to work stably and not fall under penalties. These are also funds of the delegators who`ve chosen this validator. Therefore, the larger the node's stake, the more reliable it can be.


''A thing that the subject possesses.''
Minimum stake
This indicator appears when the entire thousand slots (seats) of the validator have been filled. If the size of your stake is less than or close to the minimum validator stake, you need to choose a different node for staking.
The minimum stake is not set by anyone. Each validator has a thousand stake slots available, the smallest of which is the minimum. When there is a person who wants to bond a large amount with all the validator's stakes occupied, the new stake automatically displaces the minimum one, and the funds of the departed delegator are immediately returned to his wallet.


It is important here that the subject has some kind of unique object. It can be a personal seal, a key to the lock, a data file containing a characteristic. The characteristic is often embedded in a special device: for example, a plastic card. It is more difficult for an attacker to get hold of such a device than to crack a password, and the subject can immediately report in case of theft of the device. This makes this method more secure than a password mechanism, but the cost of such a data access protection system is higher.
Fee amount
The validator's fee is another item of income from maintaining the network. The fee is set at the time of the candidate's application to the validators and cannot be changed further. The validator will deduct the specified fee from the delegator`s rewards.


''A property that the subject possesses.''
Author: Renata Dimova
 
A characteristic is a physical feature of the subject. It can be a face, fingerprints, iris, capillary patterns, DNA sequence or voice. From the point of view of the subject, this method is the simplest: you do not need to remember the password or carry an authentication device with you. However, the biometric system must have high sensitivity in order to confirm an authorized user, but reject an attacker with similar biometric parameters. Also, the cost of such a system is quite high.
 
'''Double-factor authentication'''
 
Double-factor authentication is a type of multi-factor authentication. 2FA is a technology that provides user identification using a combination of two different components. The bright example of two-factor authentication is Google authorization. When a user logs in from a new device, in addition to password authentication, they are asked to enter a six-digit/eight-digit confirmation code. The subscriber can receive it by SMS or by voice call to his phone. Also, a new one-time password can be generated by the authenticator application in short periods of time. The method of receiving the confirmation code is selected in the settings.
 
 
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Revision as of 05:45, 11 May 2022


How do I choose a validator?

More information in the article: DecimalChain Delegators

Сhoosing a validator is an important and timely question for any user in DecimalChain. In order to get the maximum benefit from staking, you need to take into account the validator's fee, the reliability of the node, bonuses and promotions during staking, the minimum stake for entry, and other indicators.

To become a network delegate, you need to take three steps — get DEL coins or other Decimal network coins, choose a validator, and bond your coins to the validator you chose.

The importance of choosing a validator

The basic remuneration for all validators is the same and depends only on the general network parameters. However, each validator offers different conditions for the delegators. Therefore, after carefully studying all the conditions, you can get additional benefits, such as a favorable validator fee, absence of penalties, permanent or one-time cashback, participation in promotions, and so on.

Poor performance of the validator can lead to penalties for errors in the form of missed blocks, node unavailability, and double signature. This, in turn, will lead to a loss of funds — burning part of the bonded funds or forcibly withdrawing funds from the staking.

Therefore, there is a strategy of choosing several high-quality nodes with favorable staking conditions and distributing your stake among them.

List of validators

Validator selection criteria

When choosing a validator, you need to consider the following criteria::

Reliability The reliability indicator is the number of warnings and penalties previously imposed by the system on the validator.

Validator strength (stake size) This is the validator's own funds and his motivation to work stably and not fall under penalties. These are also funds of the delegators who`ve chosen this validator. Therefore, the larger the node's stake, the more reliable it can be.

Minimum stake This indicator appears when the entire thousand slots (seats) of the validator have been filled. If the size of your stake is less than or close to the minimum validator stake, you need to choose a different node for staking. The minimum stake is not set by anyone. Each validator has a thousand stake slots available, the smallest of which is the minimum. When there is a person who wants to bond a large amount with all the validator's stakes occupied, the new stake automatically displaces the minimum one, and the funds of the departed delegator are immediately returned to his wallet.

Fee amount The validator's fee is another item of income from maintaining the network. The fee is set at the time of the candidate's application to the validators and cannot be changed further. The validator will deduct the specified fee from the delegator`s rewards.

Author: Renata Dimova

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