Counting Blocks runs a validator node that provides staking services through the Wanchain blockchain. We are a passionate blockchain community that share the vision of Wanchain. We believe that Wanchain is the platform for our future finance, fully decentralized and owned by the people.
Our community includes a Wanchain Global ambassador who is in direct contact with the coremembers of Wanchain. Since we are a 3rd party Validator it is great to have this close relationship. We participate in almost all social Wanchain channels answering, supporting and most importantly educating the community.
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.
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 6%. 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.
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 wifi laptop 🙂
The withdrawal period for delegators is normally 3-4 days after they end 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 so quick. Educate yourself before you choose to commit to a validator.