The launch of the Vexanium blockchain after the mainnet is to feature a new consensus mechanism namely Delegated Proof of Stake (DPoS), this blockchain consensus will join the ranks of other publicly available blockchains infrastructure, such as Steem, BitShares, Ark, and EOS.
Users in the DPoS system elect a delegated group or representative, who are trusted parties who will be responsible for maintaining the Vexanium blockchain network. As with voting, there will be fierce competition among those trying to become one of the best delegates on the Vexanium blockchain, called Block Producers.
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What is Vexanium Block Producer?
Block producers (BP) are one of the major innovations introduced by the Vexanium Foundation, and BP will become a decentralized entity that governs the Vexanium blockchain. Instead of being run by a small number of mining pools, Vexanium BP will have a group that continues to change from a 24 hour non-stop voting mechanism, top 21 BP are BP with an active status that is responsible with the Vexanium blockchain network, for BP ranked 22 and above will become BP with standby status.
BP have the potential to create big incentives. BP will get rewards for creating new blocks, rewards in the form of VEX coins generated by the token inflation mechanism. The VEX coin reward that is given is 2% paid by BP, the remaining 3% will be locked in worker proposals (savings) of a total of 5% of total inflation every year.
After understanding a little about the description of Vexanium BP, next are what conditions are needed to register as BP on the Vexanium blockchain network:
- Have a VEX account (wallet address) which will be registered as Vexanium BP
- Own more than 5,500,000 VEX coin to be included in the top 21 active BP, or less than 5,500,000 VEX to become standby (passive) BP.
- Note: VEX coin is used to give vote to BP that have just registered (created), all BP voting processes are entirely using VEX coins that are staked and running 24 hours non-stop on the Vexanium blockchain.
- Has a VPS server that runs 24 hours/day, with minimum specs (CPU: Single Core, RAM: 2048MB (2GB), HDD: 80GB, Ubuntu Linux OS version 18.04.3 LTS).
- Have a website that provides insight into the description of the BP.
After understanding the requirements for Vexanium BP, next is how to register as BP on the Vexanium blockchain network, there are two ways to register as Vexanium BP, the first using the Linux script from our VPS, the second with the DApps Vexecosystem application, we will discuss the first method first.
Registering BPs using a Linux script
- Login to VPS using the Ssh, Putty or Termius application
- Make sure you are the root user (superuser) and in the root (#) directory
- Download the unzipping application to unzip the source files with the following command:
apt-get install unzip - Download the source code vex 1. 7.4bin_ubuntu18.zip with the command:
wget https://vexanium.com/files/vex1.7.4bin_ubuntu18.zip - Then proceed with the command:
unzip vex1.7.4bin_ubuntu18.zip - Create a folder/wallet on the server to claim rewards (the folder name is no spaces) with the command:
./cleos wallet create -n yourvexaccount –to-console - Save the password that appears with random characters, for example: PW5JpuF4SQGyzKHJBgJKDQ7RcFdVxJbJxziKbM9VQV1mKVRc5uwPS
- Import the private key vex wallet to the console, with the command:
./cleos wallet import yourvex account (Enter)
(yourVEXprivatekeyaccount / 5Jxxxxxxxxxxxx) - Register your Vex account as BP, with the command:
./cleos –url http://209.97.162.124:8080 system regproducer youraccountvexyour VEXpublickeyourwebsite - After registering our BPs, we can see the results at https://explorer.vexanium.com/producers on the site, our BPs should be below the Top 21 BPs with stand by status
- Next is the Install Nodes, Install Nodes are used for Bps that enter Top21, for BPs with stand-by status there is no need to install nodes. Here’s the Install Nodes command:
nohup ./nodeos -max-irreversible-block-age -1 -contracts-console -genesis-json ./genesis.json -blocks-dir ./data/blocks -data-dir ./data -chain-state-db- size-mb 1024 -http-server-address 127.0.0.1:80 -p2p-listen-endpoint 0.0.0.0:8090 -max-clients 5 -p2p-max-nodes-per-host 5 -enable-stale-production -producer -name yourBPname –signature-provider = VEXyourpublickey = KEY: 5Jyourprivatekey –eosio plugin :: http_plugin – eosio plugins :: chain_api_plugin – eosio plugin :: producer_plugin –p2p-peer-address 209.97.162.124:8091x.105 .proit.id: 8090 mainnet.databisnis.id:8090 vex.cp.co.id:8090 mainnet.vdapp.host:8090> nodeos.log 2> & 1 & - Check the node already running or not, with the command:
tail -f nodeos.log - Then Unlock the wallet folder before making a claim with the command:
./cleos wallet unlock -n yourfoldername / yourvexaccount –password PW5Jww5rUwnJw8XWcpC5aUC1qf3SUHrDA6q9SgqJFCdFtG6zxrWvU - Then claim mining prizes every 1 × 24 hours, prize claims can be done manually or automatically using the schedule command on Ubuntu Linux, to claim manually can be done with the command below:
/ cleos –url http://209.97.162.124:8080 system claimrewards yourBPname
After understanding registration in a first way, the next is to understand BPs registration in a second way, this second method is much simpler and has minimal Linux scripts.
Registering BPs using Dapps Vexecosystem
- You must already have a VEX account and have a Vex Wallet mobile and Vex Wallet PC, for details can be checked here:
Vex Wallet PC, Vex Wallet Mobile - Login your VEX account from PC Wallet or from Vex Wallet Mobile (Smartphone)
- Open the website https://vexecosystem.com/
- Click the login button to identify your VEX account
- Select the top left menu, then select the BP list menu (to become standby BP. You don’t need to install nodes, but if you want to upgrade to top 21 active BP then you need to install nodes)
- Fill in all your BP data required (BP Name, VEX Account Address, Website).
- After registering BP, we can see the results at https://explorer.vexanium.com/producers on the site, the BP should be below the top 21 BP with standby status
- If you go up a class and enter top 21 BP, you need to install nodes like the previous step.
- Login to VPS using the Ssh, Putty or Termius application
- Here’s the Install Nodes command:
nohup ./nodeos -max-irreversible-block-age -1 -contracts-console -genesis-json ./genesis.json -blocks-dir ./data/blocks -data-dir ./data -chain-state-db- size-mb 1024 -http-server-address 127.0.0.1:80 -p2p-listen-endpoint 0.0.0.0:8090 -max-clients 5 -p2p-max-nodes-per-host 5 -enable-stale-production -producer -name yourBPname–signature-provider = VEXyourpublickey = KEY: 5Jyourprivatekey –eosio plugin :: http_plugin – eosio plugins :: chain_api_plugin – eosio plugin :: producer_plugin –p2p-peer-address 209.97.162.124:8091x.105 .proit.id: 8090 mainnet.databisnis.id:8090 vex.cp.co.id:8090 mainnet.vdapp.host:8090> nodeos.log 2> & 1 & - Check the node already running or not, with the command:
tail -f nodeos.log - Create a folder / wallet on the server to claim rewards (the folder name is no spaces) with the command:
./cleos wallet create -n yourvexaccount –to-console - Save the password that appears with random characters, for example: PW5JpuF4SQGyzKHJBgJKDQ7RcFdVxJbJxziKbM9VQV1mKVRc5uwPS
- Import the private key vex wallet to the console, with the command:
./cleos wallet import yourvex account (Enter)
(yourVEXprivatekeyaccount / 5Jxxxxxxxxxxxx) - Then Unlock the wallet folder before making a claim with the command:
./cleos wallet unlock -n yourfoldername / yourvexaccount –password PW5JpuF4SQGyzKHJBgJKDQ7RcFdVxJbJxziKbM9VQV1mKVRc5uwPS - If you don’t want to bother claiming via terminal, then to claim rewards you can use Dapps Vexecosystem.com, then select the claim reward menu
Conclusion
The Vexanium blockchain has grown rapidly over time and now it is increasingly easier for new users to get information, especially about how to become Vexanium BP because many people are interested in mining VEX coins, becoming the delegates in top 21 BP or getting passive income from the BP ecosystem.