The Ultimate Guide to Voting for Telos Block Producers

The Telos Network relies on Block Producers to validate transactions, add new blocks to the blockchain and maintain network infrastructure. These Block Producers receive rewards in the form of TLOS tokens. Telos token holders are able to vote for their preferred network validators through the protocol voting application on https://explorer.telos.net/vote.

Telos uses a Delegated Proof of Stake (DPoS) consensus mechanism where token holders can delegate their votes to Block Producers they believe will act honestly, effectively and deliver the greatest benefits for the network. This results in faster transaction processing and improved scalability due to a smaller number of Block Producers compared to other systems.

The 21 Block Producers with the highest number of votes are the active producers on the Telos protocol, receiving the highest rewards. The next 21 Block Producers act as a safety net for the network in case the primary validators go offline or fail to perform their duties. By participating in the voting process, token holders can have a say in how the network is run and can help ensure that rewards are distributed fairly, incentivizing validators to provide the best possible service.

It’s essential to vote for Block Producers on the Telos blockchain to keep the network running smoothly and efficiently. Your vote counts, and every token holder can make a difference.

As a Block Producer, we at Block Bastards are committed to advancing the Telos ecosystem and ensuring that the network is run by experienced and reliable validators. We are also the development team behind QUDO, which is launching on the Telos mainnet soon. By voting for us, you can help us achieve these goals and ensure that Telos continues to thrive. You can learn more about our Block Producer at https://qudo.io/block-producer.

I emphasize that our motivation and commitment run alongside the fact that we have selected the Telos Network to run our own decentralized application — QUDO, which requires us to be as good as we can to maintain our own decentralized application as well as all other DApps running on the Telos network.

Here are the steps to follow to get started:

• Download and install a compatible wallet signing app such as Anchor.

• Register for a Telos Native wallet at https://www.telos.net/signup (Don’t forget to save your KEYS in a SAFE PLACE)

• Import the new Telos Native wallet into your Anchor app.

• Sign in to the new wallet at https://wallet.telos.net/

• Fund the wallet through one of the many funding options available in the wallet. Note that you may need to add a small level of RAM resource to your account (0.5 TLOS) in order to use some of the funding options. This is done via the Resource Management tab in the wallet app.

• Use the Staking (REX) tab in the wallet app to stake tokens to REX. All staked tokens contribute to voting power, and tokens that are staked to REX continue to earn interest for the period they are staked.

• Go to the Block Producer voting page at https://explorer.telos.net/vote and select your votes.

Weight of Your Votes

Every staked token contributes to the voting power of a token holder, but voting power is inversely weighted based on the number of validators that a token holder votes for. For instance, if a token holder has 1000 tokens staked and they vote for four Block Producers, then each Block Producer will receive only 43.2 votes (172.8 total). However, if the token holder votes for 21 Block Producers, then each of those Block Producers will receive 793.9 votes (16671,9 total). If they vote for the maximum of 30 Block Producers, each Block Producer will get the maximum of 1000 votes, which is equivalent to the number of tokens staked.

If the token holder changes the number of tokens they have staked later on, the allocated votes will be automatically updated. For example, if a token holder stakes an additional 1000 tokens, their voting power will increase proportionally. It’s important to note that votes can be changed at any time, so token holders can adjust their votes based on the performance of Block Producers over time.

Conclusion

Voting for Block Producers is a critical part of maintaining the Telos Network and ensuring that it continues to operate smoothly and securely. By participating in the voting process, token holders can have a direct impact on the network and help to shape its future.

If you’re interested in participating in the Telos Network and voting for Block Producers, be sure to follow the steps outlined above. And don’t forget to consider Block Bastards as one of your preferred Block Producers — our experience and commitment to advancing the Telos ecosystem makes us a great choice for anyone looking to support the network.