Validators FAQ
What is Karma Coin?
Karma Coin is a new cryptocurrency designed for appreciation, tipping and communities.
What is the Karma Coin Blockchain?
The Karma Coin blockchain is a permission-less Proof-of-Stake based blockchain that maintains Karma Coins balances and transactions. The Karma Coin blockchain is called Karmachain. Karmachain 1.0 permissioned mainnet launched 4/21/23. Karmachain 2.0 is permisionless and is built using the Substrate blockchain Rust framework. Testnet 1 was launched onn 5/23/23. Testnet 2 was launched on 6/23/23 and we are almost code complete on Testnet 2 which is close to mainnet functionality.
What is a validator?
A validator is an organization that participates in the Karma Coin consensus protocol and is responsible for blocks authoring and blocks finalization on Karmachain 2.0.
How are validators rewarded?
Validators are rewarded with Karma Coin rewards. The rewards are minted by the Karma Coin consensus protocol according to the Karma Coin economic model. Please see our economic model for more information.
What is the Karma Coin Blockchain Consensus Protocol?
The Karma Coin blockchain uses a nominated proof of stake (NpOS) consensus protocol. Specifically, the BABE and GRANDPA consensus protocols from Parity tech. These are the same protocols used by projects such as Polkadot, Kusama and several others.
Are there already commitments to validate Karmachain 2.0 mainnet?
Yes, as of May 23, we have commitments from several organizations to validate Karmachain 2.0 mainnet. Our goal is to decentralize and secure Karmachain by having at least 10 validator on genesis.
Why should I become a validator?
You should become a validator if your organization is aligned with the Karma Coin cryptocurrency values and mission, believe that Karma Coins are going to be valuable in the future, and want to see Karma Coin successful and used by millions of people worldwide. By becoming a validator you provide security and contribute to the decentralization of the Karma Coin cryptocurrency.
How do I become a validator?
To become a validator you need to purchase a Karma Coins stake from the Karma Coin development company and plan to run a Karma Coin validator blockchain node on the Karma Coin blockchain testnet and mainnet.
How do I obtain the coins for staking?
You need to purchase Karma Coins from the Karma Coin development company. Contact us for more information.
What is the minimum staking amount?
The minimum staking amount required to become a validator on Karmachain 2.0 mainnet is 500,000 Karma Coins. You can also validate using as little as 1 Karma Coin via our upcoming delegation pools functionality. Additional info on how to join a delegation pool directly from the Karma Coin App is going to be published soon.
What are delegation pools?
Delegation pools are an on-chain delegation capability that allows anyone with a small amount of Karma Coins to join a pool that nominates a validation and gets validation rewards for the staked coins.
What is a validator genesis partner?
A validator genesis partner is an organization that commits to become a validator in Q4 2023 and purchases at least the minimum amount of Karma Coins stake required for validation by Q3 2023.
What is the price of one Karma Coin?
Karma Coin is currently priced at $0.02 USD per 1 Karma Coin.
Can stake be delegated to another validator?
Yes, Karma Coin supports on-chain stake delegation as well as delegation pools.
How many validators are supported?
Karmachain 2.0 supports to 1,000 validators.
Do I have to run a validator blockchain node in order to become a validator?
No, we have certified technology partners that will run your node for you and for your stake for a commission. Contact us for more information about this option.
Can I become a nominator?
Yes, the Karma Coin blockchain supports the nominator role.
How are validators nominated?
Until there are 1,000 unique validators, an organization that stakes the minimum staking amount becomes a validator and no further nomination is needed. In case there will be more than 1,000 validators, the top 1,000 nominated organizations will be validators using on-chain nominations.
When are you planning to launch a public Testnet?
The Karmachain 2.0 public testnet has launched in May 2023.
How can I test Karmachain validation?
You can run a validator node on Karmachain 2.0 Testnet 1. Follow this guide to get started. You can also execute basic transaction on Testnet 1. Follow this gude for to get started.
When are you planning to launch the Mainnet?
The Karma Coin blockchain mainnet launched in April 21st, 2023 on Karmachain 1.0. The mainnet is live. However, you can't validate on it just yet. Karmachain 2.0 mainnet will be launched in Q4 2023 and supports staked validators.
How do I contact your partnership team?
Email us at validators@karmaco.in or schedule a demo.
Validators Resources
- Validators Deck (PDF)
- Running a validator node
- Testing transactions on the Testnet
- Karmachain 2.0 Testnet 1 Explorer
Copyright (c) 2022 by the Karma Coin Authors. This work is licensed under the Karma Coin License.