Coming soon : Panacea Validator
Coming soon : Panacea Validator
Greetings from the MediBloc team!
Panacea is our high-performing blockchain optimized to protect privacy and ensure the reliability of healthcare data. MediBloc has been operating all Panacea nodes to verify its stability, and so, we would like to open a validator and build the ultimate decentralized trust system. Additionally, MediBloc will burn all of the MED coins that have been received as rewards for operating Panacea nodes.
Why a Validator?
One of MediBloc’s goals has long been to make a patient-centered healthcare ecosystem. Patients should have total control over their medical data and be able to share it easily and safely with whomever they want. This is not only a big plus for patients but also for healthcare data providers as well as consumers because they can supply and rely on more reliable data at lower costs and in less time than traditional contracting methods.
MediBloc’s blockchain Panacea serves as the basis for trust between such parties. Blockchain data is highly difficult to falsify, so those who receive data based on Panacea can more easily guarantee the reliability of the healthcare data included.
MediBloc has successfully developed a blockchain-based medical data platform, Medipass and Dr. Palette, in order to create a patient-centered healthcare ecosystem. We hope that these products will continue to have additional use cases in terms of Panacea while also helping us establish a reward system. Building a decentralized trust system can serve as the basis for this journey and can be facilitated by gathering validators with diverse interests rather than relying on a single centralized object.
Validators and Delegators
Panacea’s block validators can stake their MED coins to receive rewards for block producing. Delegators can also delegate their MED coins to validators to share rewards for block creation. Those who believe in MediBloc’s vision and value can stake or delegate (vote) to contribute to the production of a block while also receiving interest (reward) to construct a network that maximizes reliability. The information that accumulates in these configured networks becomes more reliable, thereby allowing network users to consume/provide quality data more safely.
The official opening of the web/app for both validators and delegators is expected to be in late -June of this year, though the Incentivized Testnet will be in operation about a month before that. During the Incentivized Testnet period, only users who apply for advance participation will be able to build and operate nodes and then participate in block creation as validators. And at the end of the Incentivized Testnet, each person will receive a MED reward after the Mainnet upgrade.
Node Configuration Guide for Validators
Please refer to the following guide for how to build and operate nodes as a Panacea validator. You can also find information about the Incentivized Testnet operating policy in the document below.
How to Apply for the Incentivized Testnet
If you have the specifications written in the node configuration guide above and want to participate as a validator in MediBloc’s Incentivized Testnet, please fill out the application form via the following link by May 7th.
⚠️ Those who have not applied to participate in the Incentivized Testnet can participate as a validator after the official opening.
⚠️The voting/delegating function is not available on the Incentivized Testnet. This function will be opened to all users through the web/app after the Mainnet upgrade. This schedule may vary depending on the situation. We will inform you about the voting/delegating system later.
MED Coin Burn
As we have said, MediBloc has run its own Panacea nodes for about two years, since the launch of the Panacea Mainnet, and so, all MED coins that MediBloc has received as reward for creating blocks will be burned. From the launch of the Panacea Mainnet to the mid-June Mainnet upgrade, MediBloc is expected to receive 543,097,300 MEDs (6.4% of the total supply), and we will send you a detailed quantity notice after the Mainnet upgrade.