Choosing the Right Delegate
Infinity’s Blockchain is powered by Delegated Proof of Stake (DPoS) consensus system that allows stakeholders to choose the most efficient and productive delegates. Delegates are the block forgers in the Infinity Blockchain Network who are incentivized for creating, validating, and timestamping transactions. Stakeholders who vote for a delegate will receive a percentage of the delegate’s earnings.
To know more about delegates and how to vote. You can read this article: Vote for Delegates and Earn Infinity Crypto.
Now, how would you know who you should vote for? We listed down key points that you need to consider before voting for a delegate. Check the list below.
- Confidence rate
- Redistribution Percentage
- Minimum Voters Balance
Let us dive deeper into each key point to know more.
The image below shows the page where you can monitor delegates’ activities and performances. Go to Infinity Explorer to access this screen..
Let us take a closer look at the status column and discuss it means. Please take a look at the image below.
When choosing a delegate, make sure that the delegate that you are voting for is active and forging. As indicated in the image above, you would know that a delegate is forging if they have a check mark under the status column. If they have an x mark. It is either they have never forged, or they have not forged in a long time. If a delegate is on a pause status, it means that they have forged blocks before, but have stopped for the time being. If they stay on this status for a long time, their status will change to X.
Remember, delegates earn incentives from forging blocks. If they are not forging, it means that they are not earning anything. Therefore, you should never vote for a delegate that is not forging because you will never receive any shares from them.
The Infinity DPoS consensus system is composed of 25 delegates. These delegates are ranked from 1 being the highest, and 25 being the lowest. The delegate with the highest rank has the most numbers of votes. While the delegate with the lowest rank has the lowest number of votes. We highly recommend voting for the delegate with the lowest rank. The reason behind this is because they have the fewest people to share their earnings with. That means the fewer the vote, the higher the shares that you will receive.
Let us head on over to Scan Delegates tab. Please take a look at the image below.
Confidence Rate is the grading system of Infinity for delegates. It represents a delegate’s performance in the past 24 hours. This is based on the delegate’s forging activity, and distribution rate. If a delegate has a zero rating, it means that this delegate has never forged. Those who have 50 means that they are forging but have not yet distributed any shares in the past 24 hours. If a delegate has a 100 rating. This means that this delegate is forging and distributing shares to stakeholders that voted for him.
Redistribution Percentage is the percentage of the delegate’s income that is shared to stakeholders that voted for him. For example, Zurich’s Redistribution Percentage is 74%. This means that 74% of his earnings will be shared to all those who voted for him. While the remaining 26% of his earnings go to his pocket.
Minimum Voters Balance
Minimum Voters Balance is the required amount of INFI that you need to keep in your wallet to be eligible to receive shares from the delegate. Even if you vote a delegate, if you have less amount of INFI in your wallet than the required minimum voters balance, you will not receive any shares from the delegate.
Let’s take a look at the example below. Zurich’s minimum voters balance is 1,000 INFI. This means that if you have less than 1,000 INFI in your wallet, you will not receive any shares from Zurich.
One more thing to keep in mind. The amount of INFI you hold in your wallet affects the shares you will receive from the delegate. The more coins you hold, the more you earn.
There are several things to consider before voting for a delegate such as their status, ranking, confidence rate, redistribution percentage, and required minimum balance. By checking all these factors, you will be able to maximize your earnings from voting. Please also remember that you can only vote one delegate per wallet. If you wish to change your vote, you can do so by unvoting. Voting is still considered a transaction and therefore will incur a small transaction fee.
“With Infinity Crypto, the risk is limited, and the gains unlimited.”