Obviously provide is ending. I saw a post with questions about the vNodes staked with Provide getting removed. What will happen to vNodes staked with Power? Are they the same thing?
Well yes and no.
vnodes are virtual nodes. They require 1750 PRV in order to be staked. If you have that, you can run your own. Its literally the same thing as a pnode, just without the hardware that incog was selling. When you run your own, they will appear under power.
Now think of provide as a collective community pool. Everyone puts a little PRV in there. What incog does is take all the PRV and run their own vnodes with it everytime they get another 1750 collectively. The earnings those vnodes make is what is used to pay out the interest that everyone is making when they add to provide. So, when provide goes away, everyone will get their funds back, and the vnodes they were running with all that PRV will be taken offline.
So if I run my own vNode with my own PRV which I have enough to do all on my own, then will I also be affected when the provide feature ends, or will pNodes be the only option?
vNodes run by you, me and the community, including pNodes, won’t be affected by the phase-out of Provide.
The only thing shutting down is community funded nodes. The Incognito team is trying to make everything more decentralized. With community funded nodes this puts the Incognito team in control of majority of the network because they run the community funded nodes.
pNodes and vNodes will both continue to work. When community funded stake is phased out and you have a pNode you will have to self fund. Neither pNode nor vNode will befome obsolete.
Close but not quite correct.
The Incognito team runs 176 vNodes plus the 7 vNodes for the beacon chain. These Nodes participate in every committee. It is these Nodes and their forced participation that centralize the Incognito network. These are colloquially referred to as the “fixed nodes”.
The Incognito team also operates a separate and distinct group of vNodes as part of the Provide program. These vNodes are run on the behalf of the users participating in Provide. The Incognito team does not benefit from the PRV produced by these Nodes: the PRV rewards are used to pay out the APY rewards of Provide.
These Nodes, unlike the above “fixed nodes”, exist in the same candidate pool of nodes as every community user’s pNodes and vNodes. These nodes compete for the same 32 of 80 community slots swapped out every epoch. While operated by the Incognito team, these Nodes do not centralize the network since their committee participation is subject to the same random selection as any community user’s pNode or vNode. Nonetheless, having one entity control this quantity of Nodes is not in the spirit of decentralization.
When the Provide program is decommissioned, the number of network validators will decrease by ~600. Were that to happen today, the pool of network validators would shrink from ~2800 to less than ~2200. This will not happen overnight. The vNodes will need to be substituted into committee and then subsequently be unstaked or slashed (which should be live on mainnet by then) to be fully removed from the network.
outside of this thread, is there a documentation page that states how many prv are needed to run a node and that type of detail? I like what I’ve been reading however I’ve had to find most useful info in these posts.