This article was first published on POA Network - Medium
In our recent history of xDai post, we discussed the origins of the xDai Stable Chain. When it began, xDai was highly centralized — in fact POA Network was the one and only validator! This immediately shifted as several new validators were introduced, and POA Network’s on-chain governance model brought further decentralization to the protocol.
A set of on-chain governance tools allows current validators to propose and elect new validators as they see fit. Validator candidates introduce themselves and make their case for becoming a new validator, the current validators discuss their merits and ask questions, and if they decide to proceed, a vote is proposed to add the new validator to the protocol. Over the past year, 9 new validators have been added to the xDai Stable chain, bringing the total to 10 validators responsible for securing the chain.
xDai stable chain validators have multiple responsibilities, including providing secure transactional consensus and managing network decisions. When DAI from Ethereum is bridged to xDAI and back, a subset of validators ensure these transactions are conducted properly and securely in a non-custodial, decentralized fashion.
As we prepare to upgrade the xDai Stable Chain to the new POSDAO consensus model, the current xDai validators will become the initial staking validators for this delegated Proof-of-Stake model. Their nodes are currently optimized for the protocol, and their experience providing consensus will be invaluable at the start. Any individual who holds $DPOS may stake and delegate on these validators. Once the chain is up and running, additional entities may establish their own nodes and register as new validator candidates according to the rules of the protocol.
Following the first staking epoch, which will last one week (each staking epoch is one week in length), a new validator set will be selected. Validator candidates with the largest pools (consisting ...
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POA Network - Medium