how_to_be_validator_through_pos.md

How to be validator through POS

If you are already a validator, skip directly to step 3

Step 1: create new validator

First, generate validator consensus key.

./smartbchd generate-consensus-key-info | tee generate-consensus-key-info.txt

The output hex string is consensus pubkey which will be used in command below, and a file containing the consensus public and private key is generated under the current directory, named priv_validator_key.json.

Please copy the priv_validator_key.json to your work dir: .smartbchd/config/. Then restart you smartbch node.

Next, we can register our new validator through CLI or Web frontend.

Step 2a: Register new validator through CLI

Then, you can use these key information to build command below:

./smartbchd staking \
--validator-key=<your validator account private key in hex string format> \
--staking-coin=1 \
--consensus-pubkey=<your validator consensus pub key> \
--introduction=<your validator introduction> \
--type=create \
--nonce=<your validator account nonce> \
--gas-price=1250000000 \
--chain-id=0x2710

This command will output a hex string to be used in the next step.

Then, send transaction to register as a validator

Make sure you have enough BCH in you validator account.

Then broadcast the transaction (replace your_tx_data with what hex string get above):

curl -X POST --data '{"jsonrpc":"2.0","method":"eth_sendRawTransaction","params":["you_tx_data"],"id":1}' -H "Content-Type: application/json" http://localhost:8545

OK, now you had send a createValidator transaction to the staking contract. Check this transaction's receipt (replace your_tx_hash with what the hex string you get in above command):

curl -X POST --data '{"jsonrpc":"2.0","method":"eth_getTransactionReceipt","params":["your_tx_hash"],"id":1}' -H "Content-Type: application/json" http://localhost:8545

If the status is 0x1, congratulations, your validator is created now, but it has no voting power now.

Step 2b: Register new validator through Web frontend

Alternatively, you can register new validator through smartbch's staking frontend. Go to https://assets.smartbch.org/staking-frontend/ , connect this app with your validator account through MetaMask:

In "Create Validator" box，enter "RewardTo" address (normally, it should be the connected address of MetaMask), "Introduction" and "PubKey" (generated at step 1), the "staking-coin" is 1 Wei. Then click "Submit" button to finish the registration. Then, you can click "Refresh" button in "All Validators" box to see all validators. Your newlly registered validator should be listed:

Step 3: Vote the validator in XHedge contract

Please goto https://xhedge.cash/ to operate. Click the Create tag.

This is the create NFTs page. you can change the default data by yourself.

Please fill in the validator public key generated in Step 1 and the BCH oracle address. And change the Fixed USD Value in HedgeNFT to your target amount. Then click the Create! button. Note that the "Fixed USD Value in HedgeNFT" should not be too small, we recommend at least a value greater than 3 BCH.

After transaction minted by smartbch chain, click the Tokens tag. Click List tokens owned by myselfto show NFTs just created in above operation.

The NFT token id can be found on first line in NFT content, copy it.

Click Operate tag.

Please fill in the NFT token id listed below and click Vote button. After transction has been minted, vote is done successfully.

When the new epoch in smartbch chain has switched, validator has been voted will be active to participate block mint if the total number of validators not hit the upper limit.

More Info about smartBCH

More detail info about XHedge contract refer to: https://docs.smartbch.org/smartbch/developers-guide/xhedge-contract

How to run a smartbchd node refer to: https://docs.smartbch.org/smartbch/mainnet