What to consider when staking your ICON

What to consider when staking your ICON

There is a lot to consider when voting for P-Rep candidates. This article explains some primary considerations you’ll want to keep in mind, as well as tips on how to learn more about candidates.

To get a better understanding of how to vote, you’ll first need to know more about what the stated responsibilities of a P-Rep consist of. In short, P-Reps are responsible for running nodes that verify the blockchain and assisting with security and governance of the network.

Beyond the base requirements, P-Reps are responsible for developing applications on the blockchain, whether they do it themselves or provide resources for others to build from. They are also responsible for the ICON community as a whole, which can mean providing educational resources, interacting with the community and providing transparency into their ongoing ventures.

Though it’s not a prerequisite for P-Rep candidates, many are accomplished computer programmers who hold the ability to build on the network themselves, in addition to fostering an environment where others may develop.  

In order for ICON to thrive as a truly decentralized platform, it’s imperative that votes be spread among a number of P-Reps. If one or two reps receive the majority of votes, they have central control of ICON governance, which defeats the purpose of the democratic system in and of itself.

Below are some good resources to get you started and keep up with P-Reps and ICON in general:

by Brian Gates
9/25/2019 3:52:01 PM