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Validating on PoC 2
This guide follows Validating on PoC-1. The following information has been updated to match version 0.2.1, released August 31st 2018.
Being a validator on the Polkadot network is simple but there are a few caveats and you need to make it right to ensure your validator will behave itself and earn you DOTs.
First of all, validators are the heart of the network: they validate new blocks in a similar way Bitcoin miners create new blocks on the Bitcoin blockchain. Polkadot however is not based on Proof Of Work. Validators do not need high performance computers but they need to met a few conditions.
In order to be a validator you need the following:
- A node running a proper version of the polkadot client.
- A node started with both
--validatorand--key .... More on that below. - Some DOTs
- Having staked
At the time of writing the cutting edge latest version is not appropriate and should not be used by validators. Only version 0.2.1 works.
That´s easy, just run polakdot with --validator.
That can be a little tricky due to #474.
First open the UI at https://poc-2.polkadot.io/#/accounts.
Do NOT use the generated seed, use a string, preferable between 32 and 60 chars. Save this seed and take note of your account´s address.
In order for your validator to be granted the right to validate, you will need DOTs, enough in regards to the other validator candidates.
You may ask for testnet DOTs on Riot in #polkadot-watercooler:matrix.org).
In order for your validator to effectively run, you will need to stake your account.
You can do so here. Select your account, category staking, extrinsic stake() and send the transaction.
If you did it right, you should see your account´s address showing in the intensions list. You find the list here under staking/intensions().
You are now almost good to go. You may be elected validator if there are enough free slots and your stake (balance) is higher than the other validator candidates.
Currently, there are 5 slots available. The dev team is operating 4 validators with high stake. That leaves one slot free for community validators. The number of available slots will likely vary over time.