The Lum Network is built using the Tendermint & Cosmos SDK, which relies on a set of validators to secure the network.
The role of validators is to run a full-node and participate in consensus by broadcasting votes which contain cryptographic signatures signed by their private key.
Validators commit new blocks in the blockchain and receive revenue in exchange for their work. They must also participate in governance by voting on proposals. Validators are weighted according to their total stake.
The Lum Network is a public Delegated Proof-Of-Stake (DPoS) blockchain network, meaning that the weight of validators is determined by the amount of LUM tokens bonded as collateral. These LUM tokens can be self-delegated directly by the validator or delegated to them by other LUM holders.
Any user in the system can declare their intention to become a validator by sending a
create-validatortransaction. From there, they become validator candidates.
The weight (i.e. voting power) of a validator determines whether or not they are an active validator. Initially, only the top 100 validators with the most voting power will be active validators.
Last modified 1yr ago