Install Validator node​

Steps to join as a node to E Money Network

  1. Setup all servers as per the defined hardware and software requirements.

  2. Download evmos from following git repository::

  • cd emvos

  • make install

Remember to install prerequisites go, make, gcc, etc. if not installed already.

  • Download E Money chain code from git repository:

E Money Network Chain (coming soon)

  • cd EMoneyChain

  • make install

This will install the emcd client on your node.

3. Now initialise the emoney client on your node by running the following command:

emcd init <your_custom_moniker> --chain-id emoney_4544-1.

This will create a .emcd/ folder on your node's home directory. Check using ls -a.

4. Download the genesis file from the given link and place the genesis file in the path below on your node. The previously available genesis file in this folder should be replaced with the downloaded one.

5. Run the following command to get node ids of the validators on each node: emcd tendermint show-node-id This will reveal the node-id like below: 25a4072268a2bd7411e9ba0b75c216e69c0d8d24

Adjust the peer id in the following format: Node-id@Server Public IP:port number e.g. 25a4072268a2bd7411e9ba0b75c216e69c0d8d24@ Note: Port number will always be 26656 for tendermint services.

6. Goto each node and edit the config.toml file to update seeds and persistent_peers in P2P configurations in this format: e.g. 25a4072268a2bd7411e9ba0b75c216e69c0d8d24@

Folder: .emcd/config/config.toml

7. Run the start command with following arguments on your node: emcd start --api.enable --json-rpc.api eth,txpool,personal,net,debug,web3 &

This will start the block minting and peer syncing process on your node and should be able to see block height increasing/syncing with peer nodes.

To run the node as a validator follow the below steps: 1. Create staking validator on the new node by issuing following command:

Your node consensus public key can be used to create a new validator by staking EMYC tokens. You can find your validator pubkey by running:

emcd tendermint show-validator

emcd tx staking create-validator --pubkey $(emcd tendermint show-validator) --commission-max-change-rate 0.5 --commission-max-rate 0.80 --commission-rate 0.40 --min-self-delegation 100 --fees 20000emyc --yes --from val5 --amount 100000emyc --moniker <custom-moniker> --broadcast-mode block --chain-id emoney_4544-1 --gas auto

When specifying commission parameters, the commission-max-change-rate is used to measure % point change over the commission-rate. E.g. 1% to 2% is a 100% rate increase, but only 1 percentage point.

Min-self-delegation is a strictly positive integer that represents the minimum amount of self-delegated voting power your validator must always have.

2. Redelegation of tokens: A redelegation is simply a "rebonding" or moving a portion (or full amount) of your staked EMC tokens from one validator to another. This can be beneficial for a number of reasons. For example, if a delegator is no longer happy with the services or commission rates the validator is providing, then they may decide to move their bonded EMC tokens to another validator without having to wait the full unbonding period to make the switch.

emcd tx staking redelegate <genesis validator> <new validator> 200000000000000000emyc --gas auto --chain-id emoney_4544-1 --broadcast-mode block --from mykey --fees 20000emyc

  1. Edit validator description:

You can edit your validator's public description. This info is to identify your validator, and will be relied on by delegators to decide which validators to stake to. Make sure to provide input for every flag below. If a flag is not included in the command the field will default to empty (--moniker defaults to the machine name) if the field has never been set or remain the same if it has been set in the past. The <key_name> specifies which validator you are editing. If you choose to not include certain flags, remember that the --from flag must be included to identify the validator to update. emcd tx staking edit-validator --moniker="choose a moniker" --chain-id=emoney_4544-1 --broadcast-mode block --gas="auto" --gas-prices= 20000emyc --from mykey --commission-rate 0.40

  1. Undelegation or unstake is the action in which you wish to withdraw your staking position and the rewards from the validator to your wallet.

You can undelegate your staked EMC at any time, but there will be an unbonding period. The unbonding period refers to the time it takes before assets are available to transfer or sell following a request to unstake, and incl. This may vary depending on the network. emcd tx staking unbond <validator to unbond> 20000000000000emyc --gas auto --chain-id emoney_4544-1 --broadcast-mode block --from mykey --fees 20000emyc

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