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Full Node Evaluator: Proof of Stake (PoS) Overview

Full Node Evaluator: Proof of Stake (PoS)

A Full Node Evaluator on the Energy Chain, operating under the Proof of Stake (PoS) model, plays a crucial role in validating transactions, ensuring data integrity, and securing the network. Full nodes are critical for maintaining the decentralized system by validating all transactions, smart contracts, and records in the energy value chain. Evaluators stake ENRC (Energy Chain’s native token) to participate, providing both computational power and capital.

What Full Node Evaluators Do

  • Transaction and Data Validation: Evaluate and validate all energy transactions, including drilling contracts, energy meter readings, and carbon offset trades.
  • Smart Contract Execution: Manage the execution and enforcement of smart contracts tied to energy projects (e.g., oil, gas, and electricity trading).
  • Storage and Data Integrity: Store critical documentation (e.g., environmental compliance reports and land titles) to ensure immutable and transparent access to records.
  • Security: Secure the network by participating in consensus and staking ENRC, helping to prevent malicious actions.

How Node Evaluators Earn ENRC

Node Evaluators earn ENRC by processing transactions and validating smart contracts in energy projects. Their revenue model includes:

  1. Transaction Fees: Each energy transaction (e.g., oil, gas trading, pipeline operation) generates fees distributed to node operators.
  2. Smart Contract Fees: Projects using smart contracts for agreements such as facility construction or carbon trading pay fees, which are shared with the evaluators.
  3. Data Storage Fees: Full nodes maintain decentralized data storage, earning fees for handling and securing vital energy project documents.
  4. Microtransactions: High-frequency data streams (such as energy meter readings) also generate smaller, cumulative transaction fees.

Earning Potential for a Single Node

The estimate assumes that each project generates $2,500 in fees per month, with 60% distributed to Node Evaluators.

  • Microfee per Project: $2,500/project/month
  • Evaluator Share (60%): $1,500/project/month

With 750 nodes in total operating on the Energy Chain, the revenue per single node can be calculated based on the distribution of projects across nodes.

  • Single Node Monthly Revenue:
    If there are 1,000 projects across 75 nodes:
    • 59,985 USD/month/node
    If there are 10,000 projects across 750 nodes:
    • 59,985 USD/month/node
    If there are 100,000 projects across 750 nodes:
    • 599,985 USD/month/node

As the Energy Chain grows, each full node can earn substantial income through project fees, with potential monthly earnings reaching nearly $599,985 per node at large-scale adoption. This model allows mid-sized and larger energy projects to leverage blockchain technology efficiently while rewarding node operators for their stake in the network.

Cloud Node Specifications for Energy Chain

A Cloud Node in the Energy Chain context refers to a decentralized server or virtual instance that operates remotely, typically within a cloud infrastructure like Amazon Web Services (AWS), Microsoft Azure, or Google Cloud. These nodes are essential for transaction validation, smart contract execution, data storage, and maintaining the network’s consensus.

Key Specifications

  1. Virtual Server Type:
    • Instance Type: A high-compute cloud instance (e.g., AWS EC2, Microsoft Azure VM) optimized for compute, memory, and network performance.
    • Recommended Instance:
      • AWS: m5.large (2 vCPUs, 8 GB RAM) or r5.large (2 vCPUs, 16 GB RAM) for basic operations.
      • For higher-demand nodes, instances such as AWS c5.xlarge (4 vCPUs, 8 GB RAM) or c5.2xlarge (8 vCPUs, 16 GB RAM) can be utilized.
  2. CPU Requirements:
    • vCPUs (Virtual CPUs): Minimum 2 vCPUs, recommended 4–8 vCPUs for scaling and handling larger transactions.
    • Clock Speed: Minimum 2.5 GHz (Intel Xeon or similar performance-grade processors).
  3. Memory:
    • RAM: Minimum 8 GB for smaller nodes, with 16 GB or more for high-performance full nodes that require substantial transaction processing and data management.
  4. Storage:
    • Type: SSD-based storage (fast IOPS).
    • Size: Starting with 500 GB to 1 TB SSD storage for data-intensive applications, with scalable storage to support increasing transaction volumes and smart contract data.
    • Expansion: Option to scale storage based on data needs using cloud block storage or distributed systems like Amazon Elastic Block Store (EBS).
  5. Network Throughput:
    • Bandwidth: Minimum 1 Gbps network bandwidth. For high-demand nodes handling large datasets or heavy smart contract execution, 10 Gbps is recommended.
    • Latency: Low-latency network setup is preferred, ensuring fast communication between nodes and efficient transaction finality.
  6. Security:
    • Encryption: End-to-end encryption of data in transit and at rest. Nodes will handle secure transactions, necessitating encrypted communications (TLS 1.2 or higher).
    • Firewall: A cloud-based firewall or security group configuration to prevent unauthorized access.
    • Multi-Factor Authentication (MFA): Enhanced security protocols for node operators.
  7. Backup and Redundancy:
    • Data Redundancy: Nodes can leverage cloud-based distributed storage solutions like Amazon S3 or Azure Blob Storage to maintain high availability and ensure data persistence.
    • Automated Backups: Schedule regular backups of critical node data and smart contract executions to ensure disaster recovery.
  8. Operating System:
    • OS: Linux (Ubuntu or CentOS) is preferred for its compatibility with blockchain software and low overhead.
    • Blockchain Node Software: Software stack to run blockchain protocols, including DAG, Holochain, or PoS systems, as needed by Energy Chain architecture.
  9. Scalability:
    • Cloud nodes are inherently scalable, allowing operators to increase or decrease their instance type based on demand and project load. Auto-scaling options are available in most cloud environments.

Cloud Node Use Case in Energy Chain

In the Energy Chain, cloud nodes play a vital role in handling decentralized operations like validating energy trades, managing smart contracts for resource management (oil, gas, renewables), and processing environmental and carbon offset transactions. They are also responsible for recording and securing data like land titles, project environmental reports, and energy meter readings.

Earnings from a Cloud Node

A cloud node earns ENRC through:

  • Transaction Validation: Each transaction on the network generates fees, distributed to cloud nodes.
  • Data Handling: Nodes earn by securely storing and processing project data, including compliance documents, transaction records, and more.
  • Smart Contract Execution: As smart contracts are used more frequently within projects, each contract generates fees distributed to the nodes.

Revenue from node operation depends on the number of projects and transaction volume on the network, with estimated earnings scaling with node demand and transaction load, following the same estimates as discussed in the Full Node Evaluator breakdown.

IT Support for Node Setup and Ongoing Operations

Establishing and maintaining cloud-based nodes for an energy blockchain like Energy Chain requires dedicated IT support. The role of IT support covers both the initial setup of the nodes and the ongoing maintenance to ensure seamless operations.

1. Initial Setup IT Support

  • Server Provisioning: IT teams will select and provision the appropriate cloud instances (e.g., AWS, Google Cloud, Azure) based on the required specifications for the blockchain node, such as memory, CPU, and storage.
  • Software Installation & Configuration: The node software (e.g., DAG, Hashgraph, Holochain) must be installed, configured, and connected to the Energy Chain network. This involves downloading the appropriate client, setting up smart contract execution environments, and ensuring all necessary blockchain protocols are running correctly.
  • Security Setup: Strong security protocols must be established, including:
    • Firewalls and security group configuration.
    • Encryption standards (TLS, data-at-rest encryption).
    • Implementing multi-factor authentication (MFA).
    • VPN or VPC for secure network communication.
  • Data Integration: Integration with project data streams, such as energy meter readings, land titles, or environmental reports, must be configured. IT support will ensure seamless data flow between existing enterprise systems and the node's blockchain network.
  • Testing and Validation: IT teams will run tests to ensure that the node is validating transactions properly, syncing with the network, and ready to handle production workloads. Benchmarking tools may also be used to simulate project loads and verify the node’s performance.

2. Ongoing IT Support

  • Monitoring and Maintenance: Continuous monitoring of the node’s performance, including network health, transaction processing, and system resource usage, is critical. Monitoring tools will alert operators to potential issues such as:
    • High latency or dropped transactions.
    • Network outages or connectivity problems.
    • Resource bottlenecks like CPU or memory shortages.
  • Security Patching and Updates: Nodes require regular security patching to guard against vulnerabilities. This includes both the underlying operating system and the blockchain node software. IT support ensures timely updates are applied without disrupting ongoing operations.
  • Scaling: As transaction volumes grow, nodes may need to be scaled up or down. IT support will handle auto-scaling configurations or manual adjustments to cloud instance resources. This could mean increasing memory, storage, or processing power based on network demand.
  • Backup and Recovery: Regular backups are essential for data integrity. IT support will manage backup schedules and recovery procedures, ensuring that critical node data can be restored in the event of a failure or corruption.
  • Troubleshooting: In case of issues such as node desynchronization, failed smart contracts, or data inconsistencies, IT support will diagnose and resolve problems. This may involve restarting services, addressing software bugs, or liaising with cloud service providers if infrastructure issues arise.
  • Security Audits: Periodic security audits are essential to ensure nodes are not vulnerable to attacks. IT support will perform vulnerability scans, penetration testing, and audits to verify the security measures in place remain robust.
  • Node Updates: As the blockchain ecosystem evolves, nodes may need to undergo upgrades or feature enhancements. IT support manages the upgrade process, ensuring compatibility with new blockchain versions and implementing additional functionalities.

3. Cost of IT Support

The cost of IT support for node setup and ongoing maintenance can vary depending on the complexity of the environment:

  • Setup Phase: Typically involves higher one-time costs, including cloud server setup, software installation, network configuration, and testing. Estimated costs range from $10,000 to $50,000 depending on the complexity and the number of nodes.
  • Ongoing Support: Recurring monthly costs for monitoring, scaling, security, and troubleshooting range from $5,000 to $20,000 per node, depending on transaction volume and support levels required.

Cloud Node Specifications

For the Energy Chain system, each cloud node operates as a critical part of the decentralized network. It validates energy transactions, stores project data, and manages smart contract execution, contributing to the overall security and efficiency of the chain. IT support ensures that these cloud nodes remain reliable and secure throughout their lifecycle.