[ANN] Blox Staking - Ethereum 2.0 Fully Non-Custodial Staking - page 5.

kreon149

jr. member

Activity: 31

Merit: 1

Quote from: oliverlott on April 10, 2021, 10:33:02 PM

Quote from: ferdinand50 on April 10, 2021, 10:28:14 PM

Will I have complete control over the system?

Yes, the company is only responsible for technical aspects.

You will have to confirm every action because the company isn’t responsible for them. For example, only a client can confirm the validator’s request in his or her own account.

oliverlott

jr. member

Activity: 115

Merit: 1

Quote from: ferdinand50 on April 10, 2021, 10:28:14 PM

Will I have complete control over the system?

Yes, the company is only responsible for technical aspects.

ferdinand50

jr. member

Activity: 39

Merit: 1

Will I have complete control over the system?

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: oliverlott on April 10, 2021, 10:20:00 PM

Quote from: ferdinand50 on April 10, 2021, 10:12:37 PM

Will it be hard for a beginner to work with the system?

It’s not hard, but they’ll have to use command line to finish setting up a validator.

I recommend everyone to check a validator regularly. If technical errors occur, they can switch it to autonomous mode. Idle time leads to the reduction in profit. It’s better to use a ready-made platform, you can use it to manage the entire system, thus streamlining operation of several validators. They should work 24/7 if you want to maximize profit.

oliverlott

jr. member

Activity: 115

Merit: 1

Quote from: ferdinand50 on April 10, 2021, 10:12:37 PM

Will it be hard for a beginner to work with the system?

It’s not hard, but they’ll have to use command line to finish setting up a validator.

ferdinand50

jr. member

Activity: 39

Merit: 1

Will it be hard for a beginner to work with the system?

Modna

newbie

Activity: 49

Merit: 0

Quote from: willsey89 on April 09, 2021, 10:43:34 PM

Where are the keys stored then?

On a cloud server.

willsey89

newbie

Activity: 51

Merit: 0

Quote from: oliverlott on April 09, 2021, 10:34:47 PM

Quote from: willsey89 on April 09, 2021, 10:19:40 PM

Quote from: kreon149 on April 09, 2021, 10:08:55 PM

Quote from: oliverlott on April 09, 2021, 05:50:10 AM

Quote from: kreon149 on April 08, 2021, 11:27:47 PM

Quote from: willsey89 on April 08, 2021, 10:58:44 PM

Are there any risks if you bet on your own?

They say it’ll take more time to get connected because of constant safety assessment. Also, a validator can easily be hacked.

A decentralized system is much better. The data isn’t stored in one place as it is in case of centralized systems. It’s a different level of safety. No one can control all the system, intercept file transfers or disrupt a validator.

If they get control over an entire system, the currency is lost.

What’s the main benefit if a decentralized system?

A decentralized system doesn’t store both encryption keys, meaning that they keys aren’t exchanged if transfers are made or anything else is done with ETH. Other systems don’t store your personal encryption key, but they can influence your income by disrupting a validator. It’s impossible to steal ETH.

Where are the keys stored then?

oliverlott

jr. member

Activity: 115

Merit: 1

Quote from: willsey89 on April 09, 2021, 10:19:40 PM

Quote from: kreon149 on April 09, 2021, 10:08:55 PM

Quote from: oliverlott on April 09, 2021, 05:50:10 AM

Quote from: kreon149 on April 08, 2021, 11:27:47 PM

Quote from: willsey89 on April 08, 2021, 10:58:44 PM

Are there any risks if you bet on your own?

They say it’ll take more time to get connected because of constant safety assessment. Also, a validator can easily be hacked.

A decentralized system is much better. The data isn’t stored in one place as it is in case of centralized systems. It’s a different level of safety. No one can control all the system, intercept file transfers or disrupt a validator.

If they get control over an entire system, the currency is lost.

What’s the main benefit if a decentralized system?

A decentralized system doesn’t store both encryption keys, meaning that they keys aren’t exchanged if transfers are made or anything else is done with ETH. Other systems don’t store your personal encryption key, but they can influence your income by disrupting a validator. It’s impossible to steal ETH.

willsey89

newbie

Activity: 51

Merit: 0

Quote from: kreon149 on April 09, 2021, 10:08:55 PM

Quote from: oliverlott on April 09, 2021, 05:50:10 AM

Quote from: kreon149 on April 08, 2021, 11:27:47 PM

Quote from: willsey89 on April 08, 2021, 10:58:44 PM

Are there any risks if you bet on your own?

They say it’ll take more time to get connected because of constant safety assessment. Also, a validator can easily be hacked.

A decentralized system is much better. The data isn’t stored in one place as it is in case of centralized systems. It’s a different level of safety. No one can control all the system, intercept file transfers or disrupt a validator.

If they get control over an entire system, the currency is lost.

What’s the main benefit if a decentralized system?

kreon149

jr. member

Activity: 31

Merit: 1

Quote from: oliverlott on April 09, 2021, 05:50:10 AM

Quote from: kreon149 on April 08, 2021, 11:27:47 PM

Quote from: willsey89 on April 08, 2021, 10:58:44 PM

Are there any risks if you bet on your own?

They say it’ll take more time to get connected because of constant safety assessment. Also, a validator can easily be hacked.

A decentralized system is much better. The data isn’t stored in one place as it is in case of centralized systems. It’s a different level of safety. No one can control all the system, intercept file transfers or disrupt a validator.

If they get control over an entire system, the currency is lost.

oliverlott

jr. member

Activity: 115

Merit: 1

Quote from: kreon149 on April 08, 2021, 11:27:47 PM

Quote from: willsey89 on April 08, 2021, 10:58:44 PM

Are there any risks if you bet on your own?

They say it’ll take more time to get connected because of constant safety assessment. Also, a validator can easily be hacked.

A decentralized system is much better. The data isn’t stored in one place as it is in case of centralized systems. It’s a different level of safety. No one can control all the system, intercept file transfers or disrupt a validator.

kreon149

jr. member

Activity: 31

Merit: 1

Quote from: willsey89 on April 08, 2021, 10:58:44 PM

Are there any risks if you bet on your own?

They say it’ll take more time to get connected because of constant safety assessment. Also, a validator can easily be hacked.

willsey89

newbie

Activity: 51

Merit: 0

Are there any risks if you bet on your own?

oliverlott

jr. member

Activity: 115

Merit: 1

Quote from: willsey89 on April 08, 2021, 12:55:25 AM

How is the price fixed?

It is denominated in USD. The validator is charged in USD, but the payment is provided in ETH no matter what the exchange rate is. The price is fixed at $180.

willsey89

newbie

Activity: 51

Merit: 0

How is the price fixed?

kreon149

jr. member

Activity: 31

Merit: 1

Quote from: oliverlott on April 07, 2021, 02:21:16 AM

Quote from: willsey89 on April 07, 2021, 01:48:41 AM

What can I do with CDT if I still have any?

Everyone who has these tokens can use them to manage the network – make important decisions and so on.

Then it turns out that every holder will become a part of a decentralized system. It’s much safer.

BloxStaking

copper member

Activity: 6

Merit: 0

Quote from: oliverlott on March 30, 2021, 01:49:40 AM

Quote from: iyvcgm on March 30, 2021, 12:19:56 AM

How do you pay for a validator and activate it?

Payment is charged when you set up a validator. It’ll be activated once payment is made.

The service is free and will remain that way for the foreseeable future.

BloxStaking

copper member

Activity: 6

Merit: 0

Quote from: oliverlott on April 07, 2021, 02:21:16 AM

Quote from: willsey89 on April 07, 2021, 01:48:41 AM

What can I do with CDT if I still have any?

Everyone who has these tokens can use them to manage the network – make important decisions and so on.

We will publish a lot more information regarding the use cases. Besides the governance mechanism that will be integrated, the token will be used for future purposes on the SSV work.
It will be served initially for two purposes, governance on decision making and utility in the SSV network (longer-term)

oliverlott

jr. member

Activity: 115

Merit: 1

Quote from: willsey89 on April 07, 2021, 01:48:41 AM

What can I do with CDT if I still have any?

Everyone who has these tokens can use them to manage the network – make important decisions and so on.

Topic: [ANN] Blox Staking - Ethereum 2.0 Fully Non-Custodial Staking - page 5. (Read 647 times)