What does it take to become a validator candidate? What was their motivation to become a validator? And what’s their prediction of the BSC future? Keep reading to get unique insights from BNB48 Club, our next interviewed elected validator.
Are you new to Binance Smart Chain or want to learn more about the role of validators and delegators on BSC? Read our article, A Journey to Decentralization: Validators & Delegators, for more on becoming a validator or delegator.
What is your core business, and what is your business strategy connected to being a validator?
Our general business model can be described as “from the community and to the community.”
The initial funds to establish the node came from the KOGEs of Dodo. Some of our partners are BTC12 Capital, Satoshi Community, and MathWallet.
The operation and management of the node are done by a team of tech-savvy guys in the club, and we will give back all the profits to the community through KOGE buyback and burning.
KOGE represents voting power during the decision-making and governance processes of the club. It is also proof of stake in the club ecosystem.
Generally speaking, we adopt a decentralized method to raise our funds, operate the club, earn our profits (providing on-chain verification services), buyback KOGEs, and give back to the community (such as through buyback and burn).
How did you discover Binance Smart Chain?
BNB48 Club has been active in Binance Chain activities, and we pay a lot of attention to related events. We began to expect this right after Binance Chain introduced smart contracts. Back then, we were guessing between cosmos smart contract or EVM side chain. Then we knew it was the BSC testnet the moment the news was released.
What’s your motivation for becoming a Binance Smart Chain Validator?
We decided to become a validator to support the BSC network and boost ecosystem growth. BNB48 is primarily a club for BNB investors. BSC allows us to see more possibilities out of the BNB ecosystem, and we are willing to safeguard these possibilities. This is consistent with our investment goal.
Another reason is that validators receive fees for processing transactions paid in BNB. This is the practical reason. We don’t see much difference between a miner or a validator. They are both an essential element of the blockchain infrastructure, and the only difference lies in the form.
What benefits do you see in being a validator?
The most direct benefit is the profits. And we will return them to the community in the form of back-buying club tokens. This also provides us with funding as we are constantly expanding our organization.
As for intangible benefits:
1) Top-tier experience in operation and maintenance of mainstream blockchains. This is especially helpful to us, a purely technical and online team. Besides BSC, we are also a validator of the Kava chain.
2) A deeper understanding of the BNB delegation workflow, more efficient promotion in the community, and better addressing our club members’ problems.
3) As the first community-verified BSC validator, we have seen growing brand awareness and reputation, attracting some new BNB delegators and growth in the community.
Just as our slogan says: We Make BNB Holders Happy.
How did you set up your validator infrastructure?
The documentation we referred to the most is the public documentation of the Binance Chain technical team. In terms of security structure, we adopted the universal sentry nodes for usability. Another benefit brought by the double-chain structure of BSC is that the consensus nodes and the funds are separated, ensuring fund safety.
How do you engage with your community and attract more delegations?
Our node came from the community. To our community members, supporting us is supporting themselves; our profits are theirs too. This is rooted in the gene of the node.
We didn’t do any promotional activities, and we don’t think it’s necessary to do so.
Decentralization is not about sympathy. It’s about data. After securing stability, no matter whether you keep winning, provide low enough fees, or share your profits, these are all in the record, and users make rational decisions.
This is also related to the BSC mechanism. Unlike most PoS chains, the total profit is maximized on BSC when every node obtains the same quantity of delegations. So individual interests are consistent with the decentralization level of the chain.
What did you learn from your experience with BSC? And what recommendations would you give new validators?
What I’ve learned from the development of the BSC ecosystem: lower fees always win the users.
My recommendations too: lower fees always win the users.
What do you envision for the BSC Validator community in the future?
A simple one, prioritize security and stability.
开放主义的胜利，BSC节点访谈：BNB48 Club
The Victory of Liberalism: BSC Validator Spotlight: BNB48 Club
自币安智能链（BSC）起始之初，BSC想做的就是去中心化、免审查的区块链网络，目的是打造新一代低成本高性能的金融基础设施。BSC采取DPoS验证方式，共21个节点BSC，利用币安链（BC）去进行质押BNB参与BSC的节点选举。
From the very beginning, BSC’s vision has been building a decentralized and censorship-resistant blockchain network, providing a next-generation financial infrastructure at lower cost and higher performance. BSC adopts the DpoS mechanism and is run by 21 validators, which are elected based on the amount of BNBs delegated to them on the Binance Chain.
获得投票权的验证节点负责BSC网络的治理，例如：Gas费调整、协议升级等；与此同时，也能获得BNB收益，例如过去BSC节点的平均APR为60%。
Elected validators will be responsible for the BSC network governance, such as Gas fee adjustment, protocol upgrade, etc.; in return, they will receive rewards in BNB. For example, the average APR of BSC validators is 60%.
更具体的感受，让我们来看看BSC目前的节点之一——BNB48 Club是如何说的。
Keep reading to get unique insights from BNB48 Club, one of the elected validators on BSC.
Q1：是通过什么渠道了解到币安智能链的？
Q1: How did you discover Binance Smart Chain?
A：BNB48俱乐部一直比较活跃参与币安链，我们也很关注相关的事情。之前看到币安链开始引入智能合约我们就开始猜测会不会有这个可能性，那时还在猜是cosmos的智能合约还是evm侧链方案。正式知道是bsc测试链发布的时候，就看到了消息。
A: BNB48 Club has been active in Binance Chain activities and we pay a lot attention to related events. We began to expect this right after Binance Chain introduced smart contracts. Back then we were guessing between cosmos smart contract or evm side chain. Then we knew it was BSC testnet when the news was released.
Q2：是什么原因让您决定成为币安智能链验证节点？
Q2: What’s your motivation for becoming a Binance Smart Chain Validator?
A：矿工也好，验证节点也罢，都是所有区块链都需要的基础设施，只是具体形式有所差别。
A: We don’t’ really care if it’s a miner or a validator. They are both infrastructure that the blockchains need and the only difference lies in the form.
BNB48首先是一个BNB投资者俱乐部，BSC让我们看到BNB生态更大的可能性，我们愿意为这种可能性保驾护航，这与我们的投资目标是一致的。
BNB48 is primarily a club for BNB investors. BSC allows us to see more possibilities out of BNB ecosystem, and we are willing to safeguard these possibilities. This is consistent with our investment goal.
另一个原因就是验证者本身会获得一定BNB本位的投资收益，这是比较务实的原因。
Other reason is that validators get a certain amount of profits in BNB. This is the practical reason.
Q3：在您看来，成为验证节点对BNB48有什么好处呢？
Q3: What benefits do you see in being a validator?
A:最直接的是有一定物质收益，这些收益我们会以回购俱乐部token的方式返还给社区，我们也在不断尝试拓展我们的组织形式，也为我们提供了资金支持。
A: The most direct benefit is the profits. And we will return them to the community in the form of back-buying club tokens. This also provides us with funding as we are constantly expanding our organization.
非物质上的主要有这么几点：
As for intangible benefits:
1） 一线的主流区块链运维经验。这个对于我们这样的纯社区纯线上技术团队的磨练很有帮助。 除了BSC，我们也是Kava链的验证节点。
1) Top-tier experience in the operation and maintenance of mainstream blockchains. This is especially helpful to us, a purely technical and online team. Besides BSC, we are also a validator of the Kava chain.
2）对BNB委托的完整工作流程有更深入的认识，对社区进行宣传普及时更流畅，能更好地解决俱乐部成员的问题。
2) Deeper understanding of the complete work flow of BNB delegation, more efficient promotion in the community, and better addressing the problems of the members of our club.
3）作为第一个社区实名运营的BSC节点，我们的知名度和信誉度有了相应的增长，吸引了一批新的BNB粉丝，社区规模有所增长。
3) As the first community-verified BSC validator, we have seen growing brand awareness and reputation, attracting some new BNB delegators and growth in the community.
正如我们的slogan， We make BNB holders happy.
Just as our slogan says, We make BNB holders happy.
Q4：您是如何建立验证节点的基础架构吗？
Q4: How did you set up your validator infrastructure?
A:功能上我们主要参考的文档就是币安链技术团队的公开文档，安全架构上我们用了比较通用的哨兵模式来确保可用性。
A: The documentation we referred to the most is the public documentation of Binance Chain technical team. In terms of security structure, we adopted the universal sentry nodes for usability.
BSC的双链结构带来一个额外的好处是共识节点与资金做了隔离，安全门槛上非常友好。
Another benefit brought by the double-chain structure of BSC is that the consensus nodes and the funds are separated, ensuring fund safety.
Q5: 您是如何建立经济模型的？
Q5: How did you set up the business model?
A：我们整体上的经济模型可以说是“从社区来，回到社区去”。
A: Our general business model can be described as “from the community and to the community”.
建立节点所需要的初始资金是使用Dodo的IDO功能发行凭证(也就是KOGE)来募集的，BTC12 点阵资本、真本聪社区、Math钱包都是我们的初期伙伴。
The initial funds to establish the node came from the KOGEs of Dodo. BTC12 Capital, Satoshi community and MathWallet are all our initial partners.
节点的运营和管理由俱乐部擅长技术的几人小团队负责，节点的所有收益都通过回购销毁KOGE的方式回馈社区。
The operation and management of the node is done by a team of tech-savy guys in the club, and all the profits will be given back to the community through KOGE buy-back and burning.
俱乐部的决策治理以KOGE作为投票治理权，KOGE同时也是俱乐部生态内的权益凭证。
KOGE represents voting power during the decision-making and governance processes of the club. It is also the proof of stake in the club ecosystem.
总的来说，我们以去中心化的方式募资，按去中心化的方法运营，以去中心化的方式赚钱(提供区块链验证服务)，在去中心化交易所回购，以去中心化的方式回馈社区（例如回购销毁）。
Generally speaking, we adopt a decentralized method to raise our funds, operate the club, earn our profits (providing on-chain verification services), buy back KOGEs, and give back to the community (such as through buy-back and burn).
Q6：您如何与社区互动并获得更多社区支持的？
Q6: How do you engage with your community and attract more delegations?
A:我们的节点从社区发起，支持我们就是支持自己，节点盈利就是自己盈利，这是我们节点的基因。
A: Our node came from the community. To our community members, supporting us is supporting themselves, our profits are theirs too. This is rooted in the gene of the node.
我们没有做过别的拉票，也不觉得有这个必要。
We didn’t do any promotional activities and we don’t think it’s necessary to do so.
去中心化不讲情面，能保障基本稳定性的前提下，保持当选与否、费率高低、能否分享收益这都是实实在在的数据，用户自然会做出理性判断。
Decentralization is not about sympathy. It’s about data. After securing stability, no matter whether you keep winning, provide low enough fees, or share your profits, these are all in the record, and users make rational decisions.
这也与BSC的机制有关，与大部分PoS链不同，BSC的收益分配机制使得利益最大化的抵押策略就是每个节点都获得相等的抵押数量。 个体的利益与链上整体的去中心化程度是统一的。
This is also related to the BSC mechanism. Unlike most PoS chains, the total profit is maximized on BSC when every node obtains the same quantity of delegations. So individual interests are consistent with the decentralization level of the chain.
Q7：您觉得BSC的生态发展中有什么值得您借鉴？作为BSC的节点先行者，您有什么建议给到后续希望成为节点的成员呢？
Q7: What did you learn from your experience with BSC? What recommendations would you give to new validators?
A:BSC的生态发展中值得我借鉴的：低廉的费用总是更受欢迎。
A: What I’ve learnt from the development of the BSC ecosystem: lower fees always win the users.
给后续希望成员节点成员的建议也是：低廉的费用总是更受欢迎。
My recommendations too: lower fees always win the users.
Q8:您对未来的BSC验证节点社区有什么寄语呢？
Q8: What messages do you want to leave to the BSC Validator community in the future?
A:安全第一、稳定第一
A: prioritize security and stability.
