Staking is the process of locking up your DJT coins to support a network while receiving interest in DJT in return. This concept was formally introduced by Peercoin.
A decentralized network must require that network influence is paid with a scarce resource. This rule makes it infeasibly expensive for an attacker to gain enough influence over the network to compromise its security. Typically in proof-of-work systems, the scarce resource is computing power hence the mining rigs and farms all competing for the resource. On Dijets however, the scarce resource is its native currency, DJT. For a node to validate a blockchain on Dijets Network, it must stake DJT.
Staking Parameters
When a staker’s stake is finished, he/she receives back the DJT coins they staked. The validator on the other hand only receives a validation reward if it is sufficiently responsive and correct during the time it validates Dijets Network.
- The minimum amount that a validator must stake is 2,000 DJT
- The minimum amount that a delegator must delegate is 25 DJT
- The minimum amount of time one can stake funds for validation is 2 weeks
- The maximum amount of time one can stake funds for validation is 1 year
- The minimum amount of time one can stake funds for delegation is 2 weeks
- The maximum amount of time one can stake funds for delegation is 1 year
- The minimum delegation fee rate is 2%
- The maximum weight of a validator (their own stake + stake delegated to them) is 5 times the amount of the originally validator staked Dijets. For example, if you staked 2,000 DJT to become a validator then, only 8000 DJT can be delegated to your node total (not per delegator).