E Money Network
  • Introduction to E Money Network
  • Add E Money Network to Metamask
  • Wallet Integration
  • E-Money Tokens
  • E Money Network Mainnet and Testnet Explorer​
  • E Money Network Faucet
  • E Money Network Whitelist
  • Launching Your Dapp on E Money Network
    • Developing and Deploying Contracts​
    • Contract Verification​
    • Contract Security Checks
  • Validating on E Money Network
    • Validator nodes
    • How to run a validator node on E Money Network
    • Running Validator Node
    • EMYC Token’s Utility & Purpose
    • Install Validator node​
  • Tendermint & EVMOS
    • ABCI Overview
      • Intro to ABCI
      • Motivation
    • Gas & Fees
      • How are Gas and Fees Handled on E Money Network?​
      • Gas calculation and Transaction execution on E Money Network
    • Keyring
    • Signing
    • Transactions
    • A Note on Determinism
    • Consensus Overview
  • E Money Card FAQs
    • Is a Know Your Customer (KYC) process required to obtain an E Money Card?
    • What details are required for the KYC process?
    • Do I need to create an E Money Wallet to order an E Money Card?
    • What happens if I lose my seed phrase?
    • What happens if I forget my password?
    • How do I order an E Money Card, and are there any costs?
    • Can I have the card shipped to a different address than the one I provided during KYC?
    • My card has been delivered, what’s next?
    • What should I consider before using the E Money Card for payments?
    • Where can I use the E Money Card?
    • Can I add the E Money Card to online payment services like Google Pay and Apple Pay?
    • Which countries’ citizens are eligible to apply for an E Money Card?
    • Are there any fees I should be aware of as a user?
    • How do taxes apply when using the E Money Card?
  • E Money Card Fees
  • Branding and Logos
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  1. Validating on E Money Network

Validator nodes

The E Money Network is secured by a Proof-Of-Stake consensus algorithm. Validators in the E Money Network can install E Money Network clients on their AWS/GCP or other cloud nodes or in-house nodes.

Key Responsibilities of Validator Nodes in E Money Network:

  • Securing the Network: Validator nodes are responsible for maintaining consensus, validating transactions, and adding new blocks to the blockchain, ensuring its integrity and security.

  • Staking: To become a validator, a node must stake a significant amount of the blockchain's native cryptocurrency. This stake serves as a financial incentive to act honestly and disincentivizes malicious behaviour.

  • Block Proposal: Validators take turns proposing new blocks containing valid transactions. The selection process often prioritises nodes with higher stakes and longer uptime.

  • Block Validation: Upon receiving a proposed block, validators verify its legitimacy, including transaction validity, signatures, and compliance with consensus rules.

  • Voting: Validators vote on the proposed blocks, either agreeing or disagreeing with their validity. A block is added to the blockchain only if a majority of validators reach consensus.

  • Rewards: Validators who participate honestly and successfully in the consensus process earn rewards in the form of transaction fees and newly minted coins, proportional to their stake.

  • Slashing: Validators who act maliciously, such as attempting to create invalid blocks or double-spend, can be penalised by having a portion of their stake slashed (forfeited). This mechanism further incentivizes honest behaviour.

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Last updated 3 months ago