How to Run a Libra Node (How to Become a Libra Validator Node) – Libra will run on its native blockchain which is called the Libra Blockchain. The chain is supported by a Proof of Stake (PoS) algorithm, where nodes run by consortium participants are widely dispersed geographically with high technical requirements.
How to Run a Libra Node (How to Become a Libra Validator Node) –
- More than $1 billion USD in market value or more than $500 million USD customer balances.
- Reach more than 20 million people a year, multinationally.
- Be recognized as an established top-100 industry leader by a third-party association. Examples would include the Fortune 500 and the S&P Global 1200.
How to Run a Libra Node (How to Become a Libra Validator Node)
How to Run a Libra Node (How to Become a Libra Validator Node) – Clients of the Libra Blockchain’s make transactions and send them to a validator node. Validator nodes validate transactions on Libra’s blockchain.
Via libra
A validator node contains the following:
Admission Control (AC)
Admission Control takes requests from clients. It is like a receptor or an ear. It’s the first thing nodes hear.
Mempool
Mempool is a buffer that holds the queue of transactions that wait to take place.
Consensus
The consensus is vitally important. This is how nodes come into agreement about which transactions will be validated. The chain is supported purely by Proof of Stake (PoS).
Their algorithm is also what is called Byzantine-Fault-Tolerant (BFT). Libra’s consensus algorithm dubbed LibraBFT, is a modification of the HotStuff framework that was dropped by Maofan Yin and Dahlia Malkhi from VMware. This framework will allow interoperability with other BFT consensus chains like Tendermint-based chains, namely Binance Chain or Cosmos (the creators of Tendermint).
Execution – How to Run a Libra Node (How to Become a Libra Validator Node)
The execution component uses the virtual machine (VM) to execute the transactions. It keeps its memory of the execution results so things are properly stored and represented.
Virtual Machine (VM) – How to Run a Libra Node (How to Become a Libra Validator Node)
The AC and Mempool need the VM to validate transactions. They work together in this way to ensure transactions are weighed properly.
Storage – How to Run a Libra Node (How to Become a Libra Validator Node)
The storage is self-explanatory. It keeps long term persistent agreed-upon state of the transactions.
Libra Validator Node Requirements –
The Libra Validator Node Requirements are very high.
Validators can run their node self-hosted environment, BUT you meet at least two of these following criteria:
- More than $1 billion USD in market value OR over than $500 million USD customer cash flow.
- Be able to directly reach more than 20 million people a year, internationally.
- Be recognized as an industry leader by a third-party association (in the top 100). For example, be on the top 100 of the Fortune 500.
Yes, this is a permissioned network.
This article by Natu Myers is originally published at Freestartupkits.com: