Polkadot Introduces Decentralized Nodes Program

Polkadot has launched a new Decentralized Nodes Program aimed at enhancing the security and decentralization of its blockchain network.

Overview of Program

Validators chosen for this program will receive nominations from the Web3 Foundation, Polkadot’s development agency. This initiative will increase the visibility and engagement of validators within the network, while also providing opportunities for staking rewards.

Application Window

The application period is open until October 31, 2024. Validators can apply for up to two nodes per network and are encouraged to share details about their services on the Polkadot Forum to receive community nominations.

Selection Criteria

The selection process will assess various factors, including:
– Technical skills
– Reliability
– Active engagement in Polkadot’s governance and community discussions

Program Duration

Selected validators will participate in a four-month cohort beginning in November 2024. Their performance will be evaluated during this time, with the potential for extension based on the review.

Purpose of the Program

According to the Polkadot team, the Decentralized Nodes Program addresses challenges related to blockchain networks, particularly centralization and security issues. They advocate that a broader distribution of validators enhances the network’s resilience against attacks or failures.

Role of Validators

Validators are computer nodes or servers that verify the validity of parachain blocks assigned to them. They participate in consensus with other validators using a hybrid protocol that separates the finality gadget from the block production process.

Validators earn rewards for successfully validating blocks but face penalties for misconduct.

Becoming a Validator

Anyone can apply to be a candidate for validator elections. Polkadot’s nominated proof of stake (NPoS) protocol regularly selects the active validator set based on the stake supporting each candidate, which can be derived from the candidate’s self-stake or backing by nominators.