Free TON announced a contest for the title of Master of the Game for validators

Free TON announced a contest for the title of Master of the Game for validators

By Kluma | InterestingCrypto | 15 Jun 2020

Since June 17, the developers of the Free TON blockchain project, based on the Telegram Open Network protocol, have launched the The Crystal Game contest, in which they offer validators to fight for the title of Magister Ludi.

Everyone can participate in the competition with the exception of US citizens. To do this, you must run at least one validator node.

As TOR Labs technical director Dmitry Goroshevsky said,
this will allow the Free TON team to determine the best network validators according to objective criteria.

The title of the Master of the Game will be awarded every round, lasting nine cycles of validation. Each week, the load on the network will gradually increase - the number of transactions per second will increase by 50 thousand.

The prize pool will amount to over 250 million TON Crystals - more than 5% of the total emission in the Free TON network.

“The main part of the prize is not transferred on an ongoing basis, but is given to the winner for use for validation for a period of one to two years. The interest accrued as a validation bonus goes into the full possession of the validator, but the principal steak returns to the network at the end of the period, ”explained Dmitry Goroshevsky, adding that such a mechanism was not used in the blockchain before.

The contest organizers will select up to 300 winners with the highest rating. Before the distribution of remuneration, all participants will undergo the KYC procedure.

“To decentralize the network, it is extremely important to avoid cartels and concentrate steaks in the same hands - this is a matter of network security. We are doing everything to prevent this, ”said Goroshevsky.

The prize will be placed in the DePool smart contract, which will allow any users to deposit their bets and directly participate in network management. All this, according to the organizers, will not only attract validators for long periods, ensuring network security, but also improve its decentralization due to the large number of users .

Recall that in May, the developers of Free TON announced contests with the award in the cryptocurrency TON Crystals.


about any interesting for me crypto projects

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.