🛢️BlockMode Staking/Slashing

Staking

BlockMode Network uses NPoS (Nominated Proof-of-Stake) as its mechanism for selecting the validator set.

Nominators may back up to 16 validators as trusted validator candidates.

Validators do most of the heavy lifting: they produce new block candidates in Block, vote, and come to consensus in GRANDPA. Nominators, on the other hand, do not need to do anything once they have bonded their BlockMode. The experience of the nominator is similar to "set it and forget it," while the validator will be doing active service for the network by performing the critical operations.

Slashing

Slashing is a mechanism built into proof of stake blockchain protocols to discourage validator misbehavior. Slashing is designed to incentivize node security, availability, and network participation.

Slashing will happen if a validator misbehaves (e.g. goes offline, attacks the network, or runs modified software) in the network. They and their nominators will get slashed by losing a percentage of their bonded/staked BlockMode. Any slashed BlockMode will be added to the Treasury.

Once a validator gets slashed, it goes into the state as an "unapplied slash". While unapplied, a governance proposal can be made to reverse it during this period. After the grace period, the slashes are applied.