Layer 1 of the LTO Network's hybrid architecture is permissionless public blockchain. This means you can set up a node and become a become a validator, helping decentralize and secure the network. If you are not tech-savvy, you can just lease your mainnet LTO to other nodes and share network rewards with them.
Here are a few key points for the miners:
There is no network inflation, mining rewards are the transactions fees paid by network users. They can be coming from normal transfers, but around 99% of them are anchoring transactions resulting from clients and integrators using LTO Network engines. Check the calculator.
Layer 1 public blockchain based on the NG protocol. This means the rewards are 40%-60% split between the miners of micro blocks and a key block. Don't be confused if you see your rewards being either 0.10 LTO or 0.15 LTO, NG is the reason for that.
Up until Q3/Q4 2019, the reward probability is based on Fair Leased Proof of Stake. This means that the size of your stake is the major determining factor. This is called sybil resistance.
LPoS somewhat leads to centralization of a network, which is why we in Q3/4 we are switching to our own development: Leased Proof of Importance, which accounts for actual network usage.
The Bridge Troll fee from ERC-20 side to Mainnet, which is 40 LTO, gets split as 16 LTO - 24 LTO. This adds some more rewards for the nodes.
You can read more about the structure in the Developer area.
The node setup fits in one tweet, it's super simple to set up!
1) git clone https://github.com/legalthings/lto
2) cd lto/public_node
3) vim docker-compose.yml
4) docker-compose up
Here are the installation guides for:
With the traditional Proof of Stake algorithm it is important to have a big wallet, only people with a certain amount of tokens can run a node and forge blocks on the blockchain. With Leased Proof of Stake, token holders can lease their wallet balance to someone who is running a node, without having to run anything themselves. Most node operators will share a percentage of their node forging rewards with their leasers. The higher the leased amount of a node is, the more chance it has in being eligible to forge the new block. If the block has transactions, the forging node will earn the fees from those transactions.
When leasing, you are not transferring your tokens to someone else. Your tokens stay in your wallet. So you cannot lose your LTO this way, it's SAFU.
Website / Community
Sander is educating the Dutch community, helps with node set up and external relations.
Jayjay built a payout script, helps out with Dutch communities and tech implementations.
Patrick is making weekly Network Activity Reports.
Erwin built network stats overview, staking calculator, and so on.
Alex is helping with bot technical implementations.
Joel, Ignacio, and others are managing the biggest Spanish crypto community. They have also built a node utility bot.
Rob built a network overview board, built a payout script, and is helping with tech upgrades.
Kruptos Nomisma are running nodes for different projects.
Fexra built complex analytical tool with more stats, and a community explorer.
Xander is making meme merch with fun LTO pictures.
Jelle and Marco are educating Dutch community members.
Arie is long-term LTO supporter from the Dutch community.
Chris, Gio, and others help with community management.
Anton is managing a shady crypto OTC market and helps with the Russian community.
Willem is an active Dutch community member.
Running free-fee node*