This article was first published on Stories by IOS Foundation on Medium
IOST is a next-generation, developer-friendly decentralized blockchain application platform dedicated to providing developers, entrepreneurs and enterprises with a platform to realize value through the establishment of a robust public chain ecosystem.
This document will focus on the detailed rules for IOST node applications and voting. Individuals and organizations who want to host a node on the IOST network can find information clarifying the mechanisms of the IOST node application and election process to become a “Servi Node” below.
We hope to activate and build community involvement by facilitating an engaging node election process for token holders that incentivizes their participation, voting and community contributions.
Node applications can be made here.
To Node Candidates
How to participate in the initial node elections?
Submit a node candidate application form and qualify to participate in the election by meeting the minimum requirements.
How to become a Servi Node?
Obtain 0.05% IOST votes of the total network (currently 10.5M IOST, may decrease in future) and meet the minimum system requirements:
- CPU: 8 cores
- Memory: 16GB
- Local storage: 5TB
- Bandwidth: 100Mbps
What are the benefits of becoming a Servi Node?
- Servi Node rewards. Servi Nodes get a 4% share of the total IOST circulation per annum. The more votes received, the more token rewards can be earned.
- Invitation rewards. After becoming a Servi Node, you can get 30% of fees incurred by the users you invite onto the network. This includes account creation, iRAM fees and iGAS usage.
Assuming a total vote of 2....
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Stories by IOS Foundation on Medium