IRISnet is the foundation for next-gen DApps. Built with Cosmos-SDK, IRIS Hub enables cross-chain interoperability while providing modules to support DeFi. Inter-chain service infrastructure and protocol for building trustworthy and distributed business applications
There are two options for earning passive income for holders of the token IRIS. The first is to run a Validator Node. The second delegation of tokens to a Validator Node. For the average user, the best option is token delegation. Alternative - Running a Validator Node requires high level technical and special knowledge.
Validator is a full IRIShub node. If its voting power is zero, it is just a normal full node or a validator candidate. Once its voting power is positive, then it is a real validator.
Validator Candidates. The quantity of validators can't increase infinitely. Too many validators may result in low efficient consensus which slows down the blockchain TPS. So Byzantine-fault-tolerant POS blockchain network will have a limiation to the validator quantity. Usually, the value is 100. If more than 100 full nodes apply to join validator set. Then only these nodes with top 100 most bonded tokens will be real validators. Others will be validator candidates and will be descending sorted according to their bonded token amount. Once the one or more validators are kicked out from validator set, then the top candidates will be added into validator set automatically.
People that cannot, or do not want to run validator nodes, can still participate in the staking process as delegators. After delegating some tokens to validators, delegators will gain shares from corresponding validators. Delegating tokens is also called bonding tokens to validators. Later we will have detailed description on it. Besides, a validator operator is also a delegator. Usually, a validator operator not only has delegation on its own validator, but also can have delegation on other validators.