block validator / staking

Independent ‘Baker’ (Validator) on the Tezos Network

Given my engineering roots, and my passion for blockchain, it was natural that I was drawn to some of the more technical aspects of blockchain during my free time. So, with the help of a friend, I set up some hardware to run as a blockchain validator for the Tezos project.

A blockchain validator (or ‘baker’ in the Tezos terminology) is a dedicated hardware setup used to verify on-chain transactions in a block and add this new block to the blockchain. In the case of bitcoin this task is performed by the bitcoin ‘miners’ using special high-performance equipment, but in the case of Tezos this task can be undertaken by modest computer hardware because it uses a different consensus mechanism called ‘delegated proof of stake’ instead of ‘proof of work’.

By participating in this process I learned a lot about blockchain validator mechanics, earned a passive income from staking rewards, and forever became a part of Tezos history!

Highlights

• Established the world’s first Tezos validator based in Luxembourg, running since August 2019

• Over 98.5% lifetime efficiency at time of writing (Coinbase 92.3%, Kraken 91.1%, Binance 90.9%)

• One of a community of over 450 validators helping to keep Tezos decentralised