P2P Raises Fee at Cosmos While Continuing to Invest More Than Earnings

<p><em><em>This guide will help you to nominate validators in Polkadot network. Make sure that you have <a href="https://p2p.org/economy/create-account-in-polkadot-network">created account</a> with mainnet address and <a href="https://p2p.org/economy/claim-dot-with-polkadotjs">claimed DOT</a> tokens.</em></em></p><h1 id="nominate-validators"><strong>Nominate validators</strong></h1><ol><li>Visit the<a href="https://polkadot.js.org/apps?ref=p2p.org"> Polkadot UI</a> and select <code>Staking</code> tab. Choose <code>Account actions</code> in the top menu and press <code>+ Nominator</code> button.</li></ol><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/TTNYJu1.png" class="kg-image" alt loading="lazy" width="1917" height="860" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/TTNYJu1.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/TTNYJu1.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/TTNYJu1.png 1600w, https://p2p.org/economy/content/images/2020/09/TTNYJu1.png 1917w" sizes="(min-width: 720px) 720px"></figure><p>2.   In the modal window choose your stash account and a controller account (in our case they are the same and their names and addresses will match). Put the number of DOT you are willing to bond. <strong><strong>This amount should be less than the total amount in your stash</strong></strong> to pay tx fees or set a separate controller account for your stash account in future. It is recommended to leave at least 5% not bonded.</p><p>3.   Press <code>next</code> button.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/xm1ImvS.png" class="kg-image" alt loading="lazy" width="1916" height="861" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/xm1ImvS.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/xm1ImvS.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/xm1ImvS.png 1600w, https://p2p.org/economy/content/images/2020/09/xm1ImvS.png 1916w" sizes="(min-width: 720px) 720px"></figure><p>4.    At this step you will be able to nominate up to 16 validators. Choose validators from the left box. You can easily find a particular validator by pasting his address in the blank search field.</p><p>You cannot specify the amount delegated to a particular validator, bonded stake automatically will spread among selected validators by the algorithm after transition to NPoS.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/5ijByOs.png" class="kg-image" alt loading="lazy" width="2000" height="1019" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/5ijByOs.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/5ijByOs.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/5ijByOs.png 1600w, https://p2p.org/economy/content/images/size/w2400/2020/09/5ijByOs.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>5.   To nominate P2P Validator pick all <code>P2P.ORG</code> from the left column or simply <strong><strong>copy our addresses one by one in the order indicated below</strong></strong> and paste them in the search field. Don't press <code>Bond &amp; Nominate</code> button until you add all addresses.</p><p><strong><strong>You can find an up-to-date list of recommended addresses on <a href="https://p2p.org/polkadot?ref=p2p.org">our website</a>.</strong></strong></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/RzkWNrT.png" class="kg-image" alt loading="lazy" width="2000" height="1016" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/RzkWNrT.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/RzkWNrT.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/RzkWNrT.png 1600w, https://p2p.org/economy/content/images/size/w2400/2020/09/RzkWNrT.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>Clear the search field if you used it and <strong><strong>repeat that step for all addresses</strong></strong>. After adding all addresses clear the search field and check that <strong><strong>all addresses are presented in the right column</strong></strong>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/acURVHP.png" class="kg-image" alt loading="lazy" width="2000" height="1017" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/acURVHP.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/acURVHP.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/acURVHP.png 1600w, https://p2p.org/economy/content/images/size/w2400/2020/09/acURVHP.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>Press <code>Bond &amp; Nominate</code> button and confirm the transaction.</p><p>6.    After that your funds will be locked. They will become available only after <strong><strong>unbonding</strong></strong> that <strong><strong>will last for 28 days after initiating</strong></strong>.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/iSJGVno.png" class="kg-image" alt loading="lazy" width="2000" height="1014" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/iSJGVno.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/iSJGVno.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/iSJGVno.png 1600w, https://p2p.org/economy/content/images/size/w2400/2020/09/iSJGVno.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>7.    In the <code>Account actions</code> you will see your bonded account. Your nomination will be in <code>Waiting</code> status until the transition to NPoS. After that system will distribute your stake in an optimal way and you will see that nomination status changed on <code>Active</code> at least for one target and you will receive DOT rewards.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/X9umYEL.png" class="kg-image" alt loading="lazy" width="2000" height="990" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/X9umYEL.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/X9umYEL.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/X9umYEL.png 1600w, https://p2p.org/economy/content/images/size/w2400/2020/09/X9umYEL.png 2400w" sizes="(min-width: 720px) 720px"></figure><p>To edit your nominations press the button with three dots in <code>Account actions</code> tab.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/gWO32vj.png" class="kg-image" alt loading="lazy" width="1734" height="864" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/gWO32vj.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/gWO32vj.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/gWO32vj.png 1600w, https://p2p.org/economy/content/images/2020/09/gWO32vj.png 1734w" sizes="(min-width: 720px) 720px"></figure><p>Choose <code>Set nomenees</code> and simply repeat step #5 .</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/W1bJnmp.png" class="kg-image" alt loading="lazy" width="1734" height="866" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/W1bJnmp.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/W1bJnmp.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/W1bJnmp.png 1600w, https://p2p.org/economy/content/images/2020/09/W1bJnmp.png 1734w" sizes="(min-width: 720px) 720px"></figure><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=polkadot_nominate">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $3 billion by over 10,000 delegators/nominators across 25+ high-class networks. We have been present in all Polkadot testnets and have been actively participating on Kusama network since the beginning. P2P Validator invested its own funds in Polkadot in 2017 and intends to support the network in the long term.</p><hr><p><em><em>Now you can officially call yourself a nominator. You are fully prepared to earn rewards immediately after the transition to NPoS. Do not hesitate to ask questions in our <a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram chat</a> or contact Alex via [email protected]. We are always open for communication.</em></em></p><hr><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=polkadot_nominate"> https://p2p.org</a></p><p><strong><strong>Stake DOT with us:</strong></strong> <a href="https://p2p.org/polkadot?utm_source=blog&utm_medium=economy&utm_campaign=polkadot_nominate">https://p2p.org/polkadot</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator?ref=p2p.org"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>

<p>P2P Validator’s team successfully carried out the development of BLS-based Random Beacon to provide Cosmos application-specific blockchains with an unbiased source of entropy. The code is<a href="https://github.com/corestario/tendermint?ref=p2p.org"> open-sourced</a> and available for further exploration by the community. This implementation of Random Beacon opens new possibilities for projects that require truly unpredictable randomness in their decentralized products.</p><p><strong><strong>Our team will continue to develop features that can bring more users and add more value to the Cosmos ecosystem</strong></strong>. If you want to support our initiatives the best way is to<a href="https://p2p.org/cosmos?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_random_beacon"> stake ATOM with us</a>.</p><h3 id="high-level-overview"><strong>High level overview</strong></h3><p>Random Beacon is a cryptographic primitive that periodically outputs random numbers which are publicly available and verifiable by any party. Random Beacon requires several important properties:</p><ul><li>Availability (or liveness) — an adversary cannot prevent a random number generation process.</li><li>Unpredictability — an adversary cannot predict the protocol outcome (a random value).</li><li>Bias-resistance — an adversary cannot influence future values to their advantage.</li><li>Public-Verifiability — anyone can verify the protocol’s outcome.</li></ul><p>In a decentralized environment the ability to generate provably random outputs is critical to protect applications from manipulations and get rid of centralized random number sources. It can also be helpful for data protection as random numbers are used in the generation of cryptographic keys, establishing connections, internal sequences and so on.</p><p><em><em>Randomness can be useful for numerous blockchain applications:</em></em></p><ul><li>gaming, gambling and lotteries (e.g. PoolTogether)</li><li>cryptographic sortition in consensus for leader or quorum selection (e.g. DFINITY, Elrond, ThunderCore, Cardano)</li><li>cryptographic sortition for financial applications (e.g. tBTC-like collateralized bridges)</li><li>elections, sociology and statistics</li><li>advanced cryptography, mixnets and other protocols that require randomness to provide privacy or security</li></ul><p>Implementation of Tendermint with BLS-based random beacon - Arcade, provides each block with a random number that can be safely used during block processing without changing original Tendermint security assumptions.</p><h3 id="bls-based-random-beacon-in-tendermint"><strong>BLS-based Random Beacon in Tendermint</strong></h3><p>We wanted our in-built pseudo random number generator (PRNG) to be suitable for applications like games and gambling: that means fast and unbiasable (many random beacons used for consensus are slightly biasable, what's fine for cryptographic sortition but is not suitable for a game like blackjack). Preferably it should be available at every block.</p><ol><li>Unbiasable</li><li>Small rounds (a few seconds at most)</li><li>Publicly verifiable</li><li>Small receipt (under 10kb)</li><li>Decentralizible</li><li>Safety and liveness similar to original Tendermint</li><li>Sybil resistant</li><li>Censorship resistant</li></ol><p>The most suitable random beacon to satisfy constraints is a BLS Threshold Signature-Based Beacon, proposed by the DFinity team. To build it we expanded a pre-commit step in the Tendermint consensus.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/kkYo5H6.png" class="kg-image" alt loading="lazy" width="782" height="502" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/kkYo5H6.png 600w, https://p2p.org/economy/content/images/2020/09/kkYo5H6.png 782w" sizes="(min-width: 720px) 720px"></figure><p>The idea works by expanding a pre-commit step of Tendermint consensus: <strong><strong>validators send not only pre-commit but also add partial BLS threshold signatures</strong></strong>. This allows every new block to come out with a freshly generated random number.</p><p>The outlined PRNG is available at every block and suitable for building randomness-dependent applications within the Cosmos ecosystem. We also built a Cosmos SDK adaptation that can interact with the random number in the block, and a reseeding module that is capable of bringing external randomness to deterministic BLS-based PRNG.</p><p>BLS threshold signatures need a key generation step. We implemented an off-chain distributed key generation based on Pederson distributed key generation (DKG), and an on-chain fallback that provides the ability to both attest and slash in cases when off-chain DKG fails.</p><h3 id="about-p2p-validator"><strong>About P2P Validator</strong></h3><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider with the best industry practices and proven expertise. We provide comprehensive due-diligence of digital assets and offer only high-class staking opportunities securing more than 3 billion of USD value. At the time of the latest update, P2P Validator is trusted by over 10,000 delegators across 25+ networks.</p><hr><p><em><em>Want to stake with us? Alexey will be happy to help. Contact [email protected] to get personal assistance.</em></em></p><hr><p><strong><strong>P2P Validator</strong></strong> provides secure non-custodial staking. Subscribe to our channels and stay tuned for updates and new blog posts.</p><p><strong><strong>Stake ATOM with us:</strong></strong> <a href="https://p2p.org/cosmos?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_random_beacon">https://p2p.org/cosmos</a></p><p><strong><strong>Web:</strong></strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator?ref=p2p.org"> @p2pvalidator</a></p><p><strong><strong>Telegram chat:</strong></strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p><p><strong><strong>Telegram announcement:</strong></strong> <a href="https://t.me/p2porg?ref=p2p.org">https://t.me/p2porg</a></p>