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Dock August Newsletter - Staking Edition
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Dock August Newsletter - Staking Edition
| We're pleased to announce that the Dock mainnet has successfully transitioned to Proof of Stake (PoS). This is a major milestone for the Dock community which can now play an active role in securing and running the Dock network. The transition to PoS further decentralizes the network by expanding the validator pool to 50 concurrent validators (there may be several hundred vying for the top 50 spots) who are selected based on the amount of Dock tokens they have staked. | | Staking Validators on Dock's Proof of Stake Network June 29 2021 | | | As previously announced, Dock's mainnet transitioned from Proof of Authority to Proof of Stake on July 7th, 2021 at 1pm GMT. To help our community understand the implications of this exciting step, in this post we will expand upon our earlier article and explain how Dock token holders will be able to earn passive income by participating in the new network as stakers. | | How Validation Works in Dock's Proof of Stake network July 05 2021 | | | As explained in our earlier article about nomination, the Proof of Stake algorithm will select validators based on the combination of Dock tokens staked by each candidate and by nominators backing them. Once their validator node is up and running, candidate validators can set up their accounts, verify their identities, and stake tokens for their candidacy by following the steps described in our validator documentation. | | | The Dock utility token (DOCK) plays a key role in aligning incentives across all of the Dock network's participants including issuers, validators, token holders, and the Dock Association, and ensures collaboration and growth. The Dock token provides three main utilities in the network: | | | Token holders in Dock ecosystem play an important role in securing the network by helping select the active set of validators and share in the emission rewards that are paid out. Being a staker does not require running a node of your own or worrying about online uptime. However, a good staker performs due diligence on the validators that they elect. | | Validating on the Dock network | | | Validators are in charge of producing blocks (processing transactions) and validating blocks produced by other validators. Validators earn token rewards for participating in the network | | | |
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