Bitcoin satoshi (BTCs) aims to build third most globally recognized Public Chain, named Satoshi Public Chain – a future blockchain economic infrastructure (programmable world of Smart Contracts)
Satoshi BTCs team has launched the Delegate functionality on Satoshi TestNet, to enable miners delegate tBTCs to Validators and earn tBTCs as rewards.
There are two ways to participate; either by running Validator Node or Delegating testnet-BTCs (tBTCs) to existing Validators.
Steps on How to Delegate tBTCs to Validators:
- Open your MetaMask, and locate the Browser
- Copy and paste this link to locate Validators: validator.test.btcs.network
- Connect your MetaMask, and follow the screen instructions shown there to start Delegating testnet-BTCs (tBTCs).
Satoshi BTCs and the Bitcoin Network are connected by Validator mapping… Details will be on the technical WhitePaper to be released before MainNet. Those who are having difficulty delegating tBTCs to existing Validators, Watch Video.
A Validator (also known as blockchain verifier) is responsible for verifying transactions on a blockchain. Once transactions are verified, they are added to the distributed ledger to maintain the blockchain’s features: Consensus, Provenance, Immutability, and Finality.
- Consensus – majority of the participants must agree before a transaction is seen as valid.
- Provenance – all transactions are trackable and ownership of any asset is known to everyone participating. You cannot claim what is not yours.
- Immutability – No single or fewer number of participants can tamper with the records. Records can only reversed by the recipient of a transaction initiating a refund.
- Finality – the record is viewable only in one place, and is timestamped conclusively. No need to stockpile several records or browse through several databases!
A Delegator is the participant who stakes to a public Validator Node to assist it conduct validation. By delegating to a trusted validator on a protocol such as BTCs, assets are put to work hence securing the network – in return, delegates earn rewards in the form of more coins.
After delegating tBTCs to existing Validators, to Undelegate or claim tBTCs rewards from the delegation you made 48hours;
- Open your MetaMask browser and visit the validator url again.
- Then tap on top right corner – you will see staking and your tBTCs address shown there.
- Kindly click on it, and explore the page.
- Claim rewards is to receive the generated rewards from the delegate/staked tBTCs, while Undelegate is to take back the entire tBTCs you have delegated.
🔗 TestNet of BTCs is for testing purposes only. No real value and can’t be used as real transactions. If you are yet to understand what TestNet phase means, please read the detailed explanation here. Participating in the testing processes now is to ensure that errors (like system glitch) are fixed which is for the common interests of everyone, before the Main Network (MainNet) goes online.
Note that, MetaMask is a Decentralized Crypto Wallet. You are solely responsible for the Security of your Assets. Protect your 12 keyphrase (Passphrase, Seedphrase, PrivateKey as some would call it). If you loose it, everything in that wallet is lost forever and nobody can help you recover it – not even MetaMask support.
Beware that, MetaMask support WILL NEVER private chat you or send random phishing links to people on Twitter, Facebook or Telegram. Likewise Satoshi Support (remember they chose to stay anonymous).
Participants of Satoshi BTCs are recommended to join Telegram Announcement Channel, follow the BTCs Twitter Community, and Telegram Group Chat to be acquainted with every notice.