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Can you tell me about the notary node elections?

Can you tell me about the notary node elections?

The notary-node elections are held periodically by stake-weighted vote. Keeping the vote tied to a stake-weighted system ensures that candidates cannot cheat through using false identities (often called a Sybil Attack). The manner and method of the stake-weighted vote is an evolving process.

In total, there are 64 notary-node positions available. Every year bottom 30 nodes are up for election. The top 30 are auto re-elected based on their performance. 4 nodes are DEV nodes and are not up for election. Once elected, a notary-node seat lasts for 12 months. Notary nodes mine on average 1500 KMD per month.

Any individual can stand for a notary node position. The minimum requirements are:

  • A highly competitive Internet connection
  • 64 GB RAM
  • 1TB SSD
  • A quad-core CPU (more cores are better)
  • An ability and willingness to provision additional nodes
    • As more customers request the Komodo’s dPOW services, elected notary operators will be required to construct more nodes capable of performing notarizations.
    • When necessary, the Komodo team can draw on a pool of funding to assist notary nodes in financing additional nodes.

Beyond the minimum requirements, those who intend to stand should know that being a notary node can be demanding technical work. Notary nodes should be familiar with network technology and should be able to maintain the notarization process, whenever necessary. They can also consider committing their time as a notary node to improve areas of the Komodo ecosystem, as a part of their candidacy.