Home2a – Countingblocks
Counting Blocks runs a validator node on Wanchain that offers an easy and convenient way for Wancoin holders to stake their WAN and earn staking rewards. We are a passionate blockchain community that share the vision of Wanchain. We believe that Wanchain is the asset transport layer of the blockchain world and will play a big role the future finance, which should be fully decentralized.
Our node is active since day one and we have a Wanchain Global ambassador who is in direct contact with the core-members of Wanchain. We participate in almost all social Wanchain channels answering, supporting and most importantly educating the community.
Wanchain is a public blockchain with support for the development of smart contracts using Solidity. Wanchain supports ring signature based private transactions and decentralized cross chain functionality.
Wanchain’s vision is to become the asset transport layer of the blockchain world, similar to the TCP transport layer of the Internet, only for assets based on distributed ledger technology. Currently, the only way to efficiently transfer value between isolated blockchains is either P2P or through the use of a trusted third party such as a centralized cryptocurrency exchange or OTC trading desk. Since the abolition of the reliance on trusted 3rd parties is one of the core goals of the blockchain revolution, it is clear that a solution must be implemented to do away with them. Wanchain aims to be that solution. As the asset transport layer of the blockchain world, Wanchain will allow for direct transfer of value between blockchains without the use of a trusted 3rd party. It will allow for the development of entirely decentralized and unstoppable cross chain cryptocurrency exchanges and applications.
The Wancoin is the native currency staked by Validator nodes to secure and run Wanchain’s network. Wancoin is also used for network transaction fees in decentralized applications and cross-blockchain transactions.
Validators on the Wanchain network secure the network by playing one of two roles in the process of proposing, validating, and finalizing blocks. These roles are:
1. EP/SL (Epochleaders and Slotleaders)
2. RNP (Random Number Proposers)
Delegators are anyone who delegates their stake to a Validator node.
Yes, 100 WAN is minimal required to delegate.
This is a period between 7 – 90 days where the selfstake amount of the validator is locked. The longer a validator chooses to lock his self stake the stronger the staking power will be which has a positive outcome off-course in the staking mechanism.
You as Delegator can withdraw your stake at any time! There is just a slight delay ~2 epochs for security reasons.
An epoch is one protocol cycle, which is roughly one day in length. Nodes participating in the epoch, lasting 1400 blocks, will be rewarded for their contributions as Random Number Proposers or Epoch Leaders. For a deep dive please visit Wanchain Galaxy Consensus Proof of Stake Technical Deep Dive page.
This is a small commission fee we charge for our service to the delegators, you can think about server maintenance, future upgrades and educational resources. Currently set on 5%. We can increase or decrease the fee but only 1% per 24 hours and we can’t exceed the maximum of 20%. If future market circumstances decides that we need to change the fees, you will be the first informed via our social channels before we make any changes. Fees are taken over stake rewards not over your initial staked amount.
It takes 3 epochs (roughly 3 days) to be eligible for being rewarded in the staking consensus. Wanchain’s staking consensus has a RNP (Random number proposing) system which selects validators to perform certain jobs. It can happen that a validator isn’t chosen for a job role and that there is no reward on a specific day, this is normal behavior. All selected validators for the current day can be found here.
No, you are in full control. We can’t control any delegated funds or rewards. When delegating, the funds are locked up in a smart contract signed by you and controlled by you. Rewards are also payed automatically. For more information deep dive into Wanchain Galaxy Consensus Proof of Stake Technical Deep Dive: Pt. 4
No, if a validator goes dark for a longer time you might loose your projected rewards but not your originally delegated stake, you can stop the delegation and withdraw from the smart staking contract. Uptime means allot to us (availability for the node to contribute in the network) as it impacts the staking power of the node, therefore our node runs on a very secure, fast instance on the Google Cloud platform. We do not run from a basement laptop 🙂
The withdrawal period or unbond period for delegators is normally 3-4 (3 epochs) days after you ended the delegation. Delegators may end delegation at any time, and may withdraw their funds after the withdrawal period. Keep in mind you can’t hop in to delegate and out to another Validator so quick.
There are Several secondary markets to buy native WAN coins. See CMC website for availabe exchanges.