Becoming a Validator on the New QIE Blockchain

The new QIE Blockchain offers our community members an exciting opportunity to play a more active role in the network's governance and earn rewards. Here’s how you can become a validator and what you can expect in terms of rewards:

1. Setting Up as a Validator

  • Full Node Setup: To become a validator, you first need to set up a full node on the new QIE Blockchain network. This node will be responsible for validating transactions and maintaining the integrity of the blockchain.

  • Minimum Staking Requirement: Once your node is set up, you must stake a minimum of 50,000 QIE to qualify as a validator. This staking serves as a security deposit, ensuring validators have a vested interest in the proper functioning of the network.

2. Earning Rewards as a Validator

  • Transaction Fee Rewards: As a validator, you will receive rewards in the form of transaction fees. These fees are a direct incentive for participating in the validation process.

  • Additional Staking Rewards: Alongside transaction fees, validators are eligible to receive rewards based on their staking amount. These rewards come from a dedicated smart contract with no ownership functionality holding 100 million QIE.

  • Claiming Rewards: Rewards can be claimed after every 259,200 blocks through the smart contract deployed. This frequency ensures a regular and fair distribution of rewards to active validators.

3. Reward Halving Schedule:

  • Every two years, the rewards from the staking pool will be halved automatically by the contract. This mechanism is designed to ensure a sustainable and long-term reward structure for validators.

4. Block Time and Rewards

  • Fast Block Time: The block time in the new QIE Blockchain is set at an impressive 5 seconds, facilitating rapid transaction validations.

  • Block Rewards: Validators can expect to earn between 0.5 QIE per block. This reward rate is designed to incentivize participation and maintain network health.

5. Proportional Reward Distribution:

  • The more QIE you stake as a validator, the larger your share of the block rewards. This proportional reward system encourages larger stakes, thereby enhancing the overall security and robustness of the blockchain.

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