RChain is going live on February 4, 2020. Initially, the Cooperative will run all the nodes in the root shard but expects that to change in the upcoming months. The Cooperative will take a snapshot of the Ethereum chain at block height 9371743, which should occur on the morning of January 28, 2020 and publish the balances going into the genesis block. The community will have four days to review the genesis block balances, after which the genesis ceremony will be conducted on February 4, 2020.
As mentioned before, those wishing to have access to REV on the RChain network should make sure that their RHOCs are in an address for which they control the private key.
RChain uses a pure proof-of-stake version of the correct-by-construction (CBC) Casper consensus framework.
Parameters for RChain Root Shard Nodes
- The root shard is limited to 100 validator nodes and unlimited read-only nodes.
- After the root shard, 100 validator slots are filled, bonding requests will be queued in a waiting list. Validators are randomly selected from the waiting list for bonding.
- Approved bonding requests get up to two weeks to provision hardware before they are placed in rotation.
- Unbonded validators may re-apply for validation. Their bonding will be treated just like any other bonding request and may be subject to queuing on the waiting list.
- The minimum bonding period for all validator nodes is four months.
- The deposit will be bounded for the entire time they are resident in the validator set unless the validator’s deposit is subject to slashing.
- When a validator requests to unbond to leave the validator set, the validator must wait a minimum of two weeks for their bond to be returned.
- Bonding minimum is 10,000 REV and maximum is 5,000,000 REV.
- Validator returns are comprised of two parts:
- a 7% segniorage fee
- a transaction fee.