Who is a delegate and how do I become one?
Delegates are users of the Decimal blockchain who have passed (bonded) their coins to the validator.
Why shpould a delegate pass his coins to a validator? In order to receive a reward in the form of new coins of the DEL network together with validators.
Technically, the delegate does not give access to its coins to the validator, but simply binds (bond) its balance to the validator’s balance. Combining balances increases the” weight “ of the validator, and therefore the size of its reward. Remuneration is distributed in the same way to delegates, in proportion to their share. The process of” unbonding “ coins from the validator takes place within 30 days from the date of submission of the corresponding application.
How do I become a delegate? Any user who owns any tokens of the Decimal blockchain can become a delegate. Before delegating your coins, responsibly choose a validator with whom you will share not only rewards, but also responsibility. Do not forget that the validator puts real money into the maintenance of servers and provides the Internet connection and communicate with other validators 24/7, since in case of failure to comply with these requirements, he receives a fine, which also applies to hisdelegates.
To delegate your coins to the selected delegate, simply enter the number of coins and the validator’s address in the “delegation”section. With the “send” button, you send a request to link your balance to the validator, as well as to unlink it.
Delegate your coins and get reward! Follow the news and join the Decimal community.