Satoshi BTCs mining is a decentralized crypto newly developed by team of programmers called Core DAO. BTCs Miners are rewarded with Bitcoin (BTC).
The BTCs is the native currency and fuel of the Satoshi Chain much like Bitcoin to the Bitcoin Network and Ether to the Ethereum Network.
What is Satoshi Chain?
Satoshi Chain is a new blockchain (Decentralized ledger Technology) based on Satoshi+ Consensus algorithm. This algorithm is connected to the Bitcoin POW protocol by validator mapping and supports Ethereum Smart Contract capabilities.
Connected to POW and addition of Delegated Functionalities similar to POS makes Satoshi Chain Decentralized, Scalable and Secured thus solving the Blockchain trilemma as proposed by Vitalik.
Steps to Delegate tBTCs to Validator(s):
#BTCs Miners can delegate testnet-BTCs (tBTCs) to validators and share system rewards.
- Open validator.test.btcs.network on your MetaMask browser; choose a Validator eg Rock Node, Ant Node, Spider Node, Beetle or Formation Node.
- Click Delegate > delegate coin at top left corner and select amount of tBTCs you want to delegate; click delegate and scroll down the page to Confirm transaction.
- Check for total delegated amount under coin tab & corresponding delegates transaction under the CoinRecord tab.
- To Cancel delegation and get your tBTCs back, click undelegate > undelegate coin button and sign the transaction.
- To see reward information on each validator you delegated to, click “My Staking” on the top right.
- To claim rewards, click on the Claim button at the top left. Sign transaction to claim rewards. After claiming reward, check the corresponding transaction under the claim tab.
Clarifications on delegating of tBTCs to Validators:
You can’t apply as a validator because you need a minimum of 10,000 tBTCs. You can delegate tBTCs to more than one validator. There is hash delegation function but you don’t have a Bitcoin pool and the 64 bytes BTC node public key cannot be filled.