We all know that with Sylo there are a couple of ways to support and help out the network and community. Today I’ll be breaking down the difference between delegated node runner and a “full” node.
Delegated staking and full staking are two different ways of participating in the process of validating transactions and maintaining the integrity of a blockchain network.
“Full node staking” or to run your own node refers to the process of holding and staking a cryptocurrency on the blockchain to participate in the validation of transactions and the creation of new blocks.
In this case, Sylo Nodes are the foundation of the Sylo Network, and they enable a P2P and E2E encrypted metaverse built on web3 technology. To be eligible to receive work, Sylo Nodes must be staked. To run a Sylo Node, users should have experience running servers to maintain a high level of service. The more tokens staked and the better the quality of service, the higher the rewards will be.
Don’t forget, Sylo is the only project out there where the NFT enables you for a node runner.
Seekers right …
Delegated staking, on the other hand, in Sylos case allows users to earn money by supporting the Sylo Network. Users stake Sylo Tokens (SYLO) against a Sylo Node. The more tokens a user stakes to a node, the more network traffic will be directed to it.
When a Sylo Node receives a payment, called a “winning ticket”, the node and its delegated stakers will also receive a payment. Users can set up delegated staking within the Sylo Smart Wallet app or on the Sylo Delegated Staking Dashboard.
It is an easy way to support the decentralised Metaverse, so to put it simply, the user will not have the decision or the responsibility of validating the transactions. Instead, the validator will take care of those tasks, and the user will only receive a share of the rewards according to the number of coins that they have delegated.
One of the main benefits of delegated staking is that it allows users to participate in the network without the need to have technical expertise or to run a node themselves, which can be resource-intensive. Additionally, it can also provide more security to the network, as validators with more technical expertise and resources will be able to provide more secure and reliable validation services.
However, with delegated staking, the user is trusting a third party to take care of their coins, and they will rely on the validator to act in their best interest. Additionally, it can also lead to centralization of the network, if a small number of validators holds a large portion of the staked coins.
Considering the work-reward ratio, what would you pick ?
Name the node running project that pulled you in…