We’re thrilled to announce that our Node Recruitment Program will officially launch on 16th, September, 2019 (Singapore time). The program will aid in building a solid foundation of nodes to ensure a secure, decentralized, and performant mainnet.
TOP Network consists of two main components: a decentralized open communication network, and a high-performance public chain that can support real-world applications. Some of the key technologies that will allow TOP Chain to scale are sharding, a high-speed concurrent pBFT consensus mechanism, and an optimized hierarchical network architecture.
Sharding allows for true horizontal scale-out. Unlike public chains such as the Bitcoin Blockchain, TOP Chain scales as the number of nodes in the network grows. Not only does TOP Chain become more scalable with increasing node count, it also becomes more secure and decentralized. This is why it is very important to recruit as many nodes as possible.
At TOP Network, we firmly believe that a strong community is vital to the success of any public chain project. Accordingly, we aim to build a robust ecosystem and gradually transition to a model based around community governance.
As a permissionless public chain, TOP Network encourages and welcomes everyone to apply to the Node Recruitment Program and become a node on the TOP Chain mainnet. We want the network to be open to everyone, which is the reason we have been striving to make the barrier to entry as low as possible. Apart from being a node operator, token holders can participate by either staking tokens and voting for nodes, or engaging in on-chain governance by voting on proposals.
As we move forward, the project will depend more and more upon the community. So get involved, and let’s work together to build a thriving ecosystem and show the blockchain space the true meaning of mass adoption!
The remaining portion of this article will introduce the different types of nodes, the minimum requirements to operate each type of node, and node rewards.
The Node Ecosystem of TOP Network
There are three types of nodes on TOP Network: Edge Nodes, Validator Nodes, and Advanced Nodes.
Responsibilities of Nodes
Edge Nodes relay transactions from clients to the internal network without verifying transactions or storing data. Edge Nodes also protect the Core Network from attacks.
Validator Nodes form consensus committees in shards, produce shard blocks, and verify/confirm transactions
Advanced Nodes perform secondary audits on transactions, manage shards, produce beacon chain blocks, and store the ledger history of the whole network.
Minimum Node Operator Requirements
- Minimum Deposit Requirements
- Edge Nodes must make a minimum deposit of 100,000 TOP tokens. Depositing additional tokens does not increase rewards.
- Validator Nodes must make a minimum deposit of 500,000 TOP tokens. The more tokens deposited, the more blocks produced, which leads to increased profits.
- Advanced Nodes must make a minimum deposit of 1,000,000 TOP tokens, and acquire at least as many votes. The more tokens deposited and votes acquired, the more blocks produced, which results in higher profits.
2. Minimum hardware and bandwidth requirements
38% of the total supply of 20 billion tokens is reserved for mining rewards. These tokens will be mined over a period of 19 years. For the first year, 3.04% of the total supply will be used as mining rewards. This percentage will decrease by 8% each year until it reaches 2% in the 7th year. After the 19th year, 2% of the original total supply — or 400 million TOP — will be issued every year to be used as mining rewards.
The sooner you participate in staking, the higher the potential profits!
The annualized rate of return for nodes is estimated to reach up to 65%. Nodes can run on low-cost cloud servers. For voting, the annualized rate of return is estimated to reach up to 15%. Smart contracts will distribute dividends on a daily basis. Detailed rules for voting will be released later.
How Can You Become a Node?
If you aim to be a node and become an important member of the TOP ecosystem, click the link below and submit the node candidate application. The review will be carried out simultaneously with the registration process, which will continue for an extended period.
Looking Beyond The Node Recruitment Program: TOP Network’s Long-Term Vision
Please pay attention to the official channels of TOP Network to get the latest updates!
You can find TOP Network on:
About TOP Network
TOP Network is a decentralized open communication network that provides cloud communication services on the blockchain. TOP offers secure, low-cost services such as messaging, calling, video, VPN, CDN, IoT data sharing and more.
TOP Network is also a high-performance public blockchain platform designed to handle real-world business of any size or volume. Powered by innovations including a three-layer network architecture, two-layer sharding, two-layer lattice DAG and pBFT-PoS*, TOP can process several hundred thousand transactions per second.
The long-term mission of TOP Network is to build a public blockchain infrastructure for all Dapps. Our world-class team of over 100 developers is striving for this goal.
TOP Network originated from the common underlying network layer of Dingtone, CoverMe and SkyVPN, three communication apps built by the TOP team before the blockchain project. These apps, having attracted over 60 million users in total, will be ported to TOP Network upon the launch of TOP and generate huge volumes of transactions in the TOP ecosystem.
TOP Network was founded by serial entrepreneur Steve Wei and his colleagues in late 2017. Steve was one of the earliest employees of WebEx in the 1990s. After WebEx, he founded a successful video conferencing software company which was acquired by Huawei in 2010. In 2012, Steve co-founded Dingtone, a public listed company operating popular communication apps such as Dingtone, CoverMe and SkyVPN.
On March 26th, TOP Network made its debut as the first project launched through Huobi Prime — Huobi’s selective Direct Premium Offering platform. A total of 1.5 billion TOP Tokens were sold out in seconds, after which the price of TOP surged 2770% once it was freely tradable. Upon the listing, TOP’s trading volume hit $100 million in just eight seconds, and surpassed the trading volume of Bitcoin at $250 million in less than a week, ranking first in terms of volume on Huobi Global. Before that, TOP Network has closed $15 million early investments from prestigious institutional investors and individual billionaire investors, including DHVC, Fenbushi Capital, NEO Global Capital (NGC), Ontology Global Capital (OGC), LD Capital and more.