Skip to main content

Validator services

Overview​

This page describes services provided by validators to the Silvermint network.

What is a Silvermint validator?​

Validators are the pillars of the Silvermint network. A Silvermint validator is an individual or organization of people operating machines running Silvermint node software and locking up Silvermint coins as stake. Validators do the following:

  • Support the decentralized Silvermint network
  • Provide bandwidth to the network
  • Perform the work of consensus by validating transactions and producing blocks
  • Secure the network with stake
  • Contribute to the governance of the protocol
  • Validators help make the Silvermint network fast, secure, and decentralized.

Validator responsibilities​

In providing service to the network validators have 3 main responsibilities:

  • Operate a Silvermint node
  • Stake a Silvermint node
  • Participate in Silvermint governance by voting on proposals to change operational parameters, coordinate updates, or make decisions on other matters related to the network.

Node operation​

Node​

Nodes are the computers in the decentralized network. They perform services for the users of the network. When running Silvermint node software, nodes monitor, audit, and validate transactions on the network. Nodes help build the security of the network.

Experience​

Operating a node is a technical endeavor. Validators act in good faith and with the requisite skills, training, and experience necessary to operate and secure their nodes for the benefit of the Silvermint network. Validators may have the skills and experience or may pay someone who does to operate their node systems.

Costs​

Validators are responsible for the costs associated with operating a Silvermint node. This includes installing, maintaining, and securing all hardware, software, hosting, and other equipment or systems necessary to connect to and operate on the network.

Security​

Validators establish and maintain reasonable and appropriate safeguards to protect their node operating systems against unauthorized use, destruction, introduction of malicious code, or hack that alters the node and could cause harm to the Silvermint network. Validators are responsible for notifying Silvermint when there is a breach or potential breach of security related to the node operation, and working in timely and reasonable ways to address the issues so as to protect the best interests of the Silvermint network. Validators are responsible for maintaining, patching, and updating node operating systems in keeping with industry best practices and related to upgrades of Silvermint node software.

System requirements​

Validators must meet minimum system requirements for operating a node. See System Requirements

Services​

Validators through their node operation provide services to the Silvermint network. These services deliver utility and security to the network and its users. Validators agree to meet thresholds for expected service to the network.

Availability​

Nodes have a reasonable uptime of hardware, operating systems, security systems, and networks to support the work of validation on the Silvermint network.

  • Target - 99% uptime per month
  • Assessment - Assessed by the Silvermint network protocol and network observers
  • Tolerance - Discontinuation of service due to reasonable maintenance and upgrades.
  • Consequence - Partial or total loss of stake and/or ejection from the validator set

System response time​

Nodes are reasonably responsive to other nodes and activity on the network. System response time refers to the latency of the connectivity to and communications with other nodes on the network related to the work of transaction processing, block production, and ledger validation.

  • Target - 95% of responses within thresholds set by the Silvermint consensus protocol
  • Assessment - Silvermint consensus protocol and network observers
  • Tolerance - Discontinuation of service due to reasonable maintenance and upgrades.
  • Consequence - Partial or total loss of stake and/or ejection from the validator set

Support response time​

During the course of network operation Silvermint validators will need to be responsive to issues related to protocol changes, network optimization, and security issues.

Note - The communication and assessment systems related to support response time will be developed during the testnet phase planned for 2023 H2. This section will be updated following the definition of relevant processes.

Hardware conformance​

Validators must have their node systems meet minimum system requirements at all times.

  • Target - 100%
  • Assessment - Silvermint consensus protocol and network observers
  • Tolerance - None
  • Consequence - Partial or total loss of stake and/or ejection from the validator set

Software conformance​

Validators must have their node systems operating software that meets minimum system requirements and required versions of the Silvermint node software.

  • Target - 100%
  • Assessment - Silvermint consensus protocol and network observers
  • Tolerance - Reasonable discontinuation of service to upgrade software.
  • Consequence - Partial or total loss of stake and/or ejection from the validator set

Staking a node​

Stake is a deposit of Silvermint coins used for strengthening the security and user confidence of the network. In a proof-of-stake consensus mechanism stake is a validator’s skin in the game to incentivize good behavior. Validators can lose stake if they fail to adhere to the rules of consensus, behave dishonestly, or fail to maintain minimum network requirements.

Voting​

Validators, as network stakeholders, have rights to vote on Silvermint governance matters open to stakeholders.