Polkadot Launches Decentralized Nodes Program to Strengthen Network

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

Validators chosen for this program will receive nominations from the Web3 Foundation, the organization responsible for Polkadot’s development. This initiative will increase their visibility within the network and open doors for staking rewards.

The application period will remain open until October 31, 2024. Validators may apply for up to two nodes in each network and are encouraged to share details about their services on community forums to gather nominations.

The selection criteria will take into account technical expertise, reliability, and active participation in Polkadot’s governance and community discussions.

Selected validators will join a four-month cohort beginning in November 2024. Their performance will be assessed during this period, with the possibility of extending their involvement based on the review outcomes.

The program is designed to address various challenges present in blockchain networks, especially concerning centralization and security. The team behind Polkadot believes that a broader distribution of validators enhances the network’s resilience against attacks and failures.

In the Polkadot network, validators operate as computer nodes or servers that verify the legitimacy of assigned parachain blocks. They also engage in consensus through a hybrid protocol that differentiates the finality component from the block production process.

Validators earn rewards for successfully verifying blocks but may incur penalties for any misconduct.

Anyone interested can apply to become a candidate for validator elections. Polkadot’s nominated proof of stake (NPoS) protocol consistently selects the active validator set based on the stake supporting each candidate, which can originate from the candidate’s own stake or from backing by nominators.