Investing.com - Polkadot, a leading blockchain network, has recently announced the launch of its Decentralized Nodes Program aimed at improving security and decentralization. This program will provide validators with opportunities for staking rewards and increased visibility within the network.
Validators interested in participating in the program can apply for up to two nodes per network until October 31, 2024. To be selected, validators must demonstrate technical skills, reliability, and active engagement in Polkadot’s governance and community discussions.
Selected validators will form a four-month cohort starting in November 2024, with the possibility of extending their participation based on performance reviews. The program aims to address issues of centralization and security in blockchain networks by promoting a wider distribution of validators.
Validators in the Polkadot network play a crucial role in verifying the validity of parachain blocks and participate in consensus with other validators. They earn rewards for validating blocks but may also face penalties for any misconduct.
Individuals interested in becoming validator candidates can apply through Polkadot’s nominated proof of stake (NPoS) protocol, which selects active validators based on the amount of stake supporting each candidate. This stake can come from the candidate’s self-stake or backing by nominators.
In conclusion, Polkadot’s Decentralized Nodes Program is a significant step towards enhancing blockchain security and decentralization. By promoting a wider distribution of validators, the network becomes more resilient to potential attacks and failures. Investors and blockchain enthusiasts should keep an eye on developments in this program, as it could impact the future of blockchain technology and investment opportunities.