BEP(Idea): Encouraging BSC Validators to Join BNB Beacon Chain for Increased Shared Security and Decentralisation

BEP
1

Title: Encouraging BSC Validators to Join BNB Beacon Chain for Increased Shared Security and Decentralisation;

Introduction
This proposal aims to incentivize BSC validators to participate in the BNB Beacon Chain validator ecosystem. By doing so, we can strengthen the shared security of both BSC and BNB Beacon Chain while promoting decentralization across the network.

Motivation
Encouraging BSC validators to become BNB Beacon Chain validators will enhance the shared security between both chains. As BSC validators are already experienced, and trusted entities, their participation in the BNB Beacon Chain can contribute to a more resilient and secure ecosystem. By joining the BNB Beacon Chain, BSC validators will demonstrate their commitment to strengthening the overall network’s security while fostering a more decentralized ecosystem. This approach will attract validators with long-term visions for the network’s growth and stability instead of those driven solely by financial incentives.

Specification

Review for Block Reward Ratio
To promote the participation of BSC validators in the BNB Beacon Chain, we propose an initial block reward ratio of 0% instead of the original 10%. This modification will help ensure that validators’ primary motivation for joining the BNB Beacon Chain is based on their commitment to enhancing security and decentralization rather than seeking immediate financial gains.

Conclusion
Lowering the initial block reward ratio to 0% emphasizes the importance of security and decentralization in the BNB Beacon Chain. This proposal encourages BSC validators to join the BNB Beacon Chain to increase shared security and promote decentralization. By adjusting the initial block reward ratio to 0%, we emphasize the importance of network security and decentralization while attracting validators with a long-term commitment to the ecosystem’s growth and resilience.

2 Likes
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Will Beacon Chain Validator also need 10000BNB as self-delegation amount? Or follow another BEP to be 2000?

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what are the potential cost and reward to run a BC’s validator?

  1. potential monthly cost of validator: e.g., hardwares cost
  2. potential monthly potential reward
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4

Good question, I ran some research, please find the result for the past month.

On BC, Period, February 20th to March 20th:

  • Network fee: 115.40906500 BNB
  • Reward per validator: 10.5 BNB

Approx Running Costs:

  • Instance: m5.2xlarge (8 cores, 32 GB) = ~$350/month
  • Disk: 2 TB = ~$250/month
  • Total cost: ~$600/month
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With more BSC validators joined, the reward per validator also decreases. :stuck_out_tongue_closed_eyes:

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Right. But as a validator, Beacon-Chain and Smart-Chain should be seen as one.

IMO, We do not need to look at BNB Beacon-Chain & BNB Smart-Chain as two separate blockchains but as one unique interconnected infrastructure. One cannot function without the other; for this reason, I would suggest that BSC validators should run a BC validator.

1 Like