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IRIS Network

Be the first to support IBC-managing NFT assets through ICA.
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Utilities
Blockchain
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IRIS
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IRIS Foundation Ltd.
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What is IRIS Network?
IRISnet (a.k.a IRIS Hub) is designed to be the foundation for the next generation distributed applications. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability through a unified service model, while providing a variety of modules to support DeFi applications.
Information
Type
Toolbox
Blockchain
Ethereum
Currency
IRIS
Platform
Windows, macOS
Publisher
IRIS Foundation Ltd.
Version
V1.4
FAQ
After a validator is created with a create-validator transaction, they can be in three states:

bonded: Validator is in the active set and participates in consensus. Validator is earning rewards and can be slashed for misbehaviour.
unbonding:
Validator misbehaved and is in jail, i.e. outisde of the validator set. If the jailing is due to being offline for too long, the validator can send an unjail transaction in order to re-enter the validator set.
Validator is out of the top 100 bonded and become a Candidate, the validator can delegate more IRIS to himself to be in top 100, then he will get bonded automatically.
unbonded: Validator is not in the active set, and therefore not signing blocks. Validator cannot be slashed, and does not earn any reward. It is still possible to delegate to this validator.
It is really IMPORTANT to backup your validator private key carefully, it's the only way to restore your validator. Note the validator private key is a Tendermint Key

If you are using the software sign (which is the default signing method of tendermint), your Tendermint Key is located in /config/priv_validator.json. The easiest way is to backup the whole config folder.

Or you can use a hardware to manage your Tendermint Key much more safely, such as the YubiHSM2
There are many ways to migrate your validator, the most recommended way is:

Run a Full Node on the new server

After you have caught-up, stop the Validator Node and the Full Node

Replace the Full Node config folder with the Validator's

Start the new Validator Node
Self-delegation is delegation from a validator to himself. This amount can be increased by sending a delegate transaction from your validator's operator account which you used to create the validator.
By delegating to a validator, an user delegates voting power. The more voting power a validator has, the more weight they have in the consensus and governance processes. This does not mean that the validator has custody of their delegators' funds. By no means can a validator run away with its delegator's funds.

Even though delegated funds cannot be stolen by their validators, delegators are still liable if their validators misbehave.
The validator that is selected to propose the next block is called proposer. Each proposer is selected deterministically, and the frequency of being chosen is proportional to the voting power (i.e. amount of bonded IRIS) of the validator. For example, if the total bonded stake across all validators is 100 IRIS and a validator's total stake is 10, then this validator will propose ~10% of the blocks.
Validators earn proportionally more revenue than their delegators because of commissions.

Validators also play a major role in governance. If a delegator does not vote, they inherit the vote from their validator. This gives validators a major responsibility in the ecosystem.
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