SeedCoin Network Validators

SeedCoin Network combines the idea that anyone can become a validator and earn rewards with the principle of an open, fair, and efficient market with no speculation and protection against a 51% attack.

The blockchain will have a flexible range of validators with a minimum of 10 and a maximum of 200. When there are more than 100 validators but less than 200, the SeedCoin Network accepts five new validators every month and removes the two lowest performing validators. If there are 200 validators, SeedCoin allows five new validators to join and removes the five worst-performing ones.

If a validator violates the validator contract, then oracle will report this violation, and the validator in question will be removed from the network by a general vote of the validators. This action will invalidate the removed user’s SeedCoin from the current staking period, and the user will no longer receive block signing rewards.

Anyone with a well-functioning computer, internet connection, active staking, and a belief in the project in terms of time in proof of venture will be able to become a validator and earn rewards.

To become a validator, a user must first be a venturer in staking and then indicate that they would like to become a validator. Once a user meets the rating requirement to become a validator and there are enough spots available, the user will become a validator and remain a staker.

Validators will receive rewards according to an algorithm created to increase the compensation when the SeedCoin price increases. This will increase SeedCoin supply, leading to downward pressure on the exchange rate of SeedCoin, furthering the prospect of a price collar.