I am the most Importantº person on this blockchain. (Spoiler: its because I was a Block Producer)
I will also give a few pointers about being a BP and setting up a BP!
This might seem like a weird thought to have, let alone writing an article about it. There is a reason I worded it this way. Your Importanceº is displayed all over UºCommunity, and I currently hold the #1 ranking. I do not actually think that I am the most important person, just using the phrasing uniquely.
I will tell you exactly how I have the highest Importanceº
I became a Block Producer and put my daily pay into my stake. That is all I had to do. You may think that that is way too easy, but that's actually not far from the truth.
There is a ton of work that goes into becoming a Block Producer, and it by no means is something that everyone should do. Being a Block Producer is an important role in the UºOS infrastructure, and there are only 21 active positions for BP's at any given time. There can be many backup BPs, but only 21 active. This is determined by UºOS holders, which means you! It is important to vote for BPs.
Breaking down why this put me at the most "Importantº" position
UºOS was paying out 20,000-25,000 UOS per day for a Block Producer. Currently, I have 550,000 UOS staked away. If we break this down, rounding to 25k in rewards per day, that is only 22 days worth of BP rewards. (For anyone wondering, that is about 25 hours of CPU time and about 475gb of Network BW)
UºOS determines importanceº based on a couple of things: your stake, your social score, and your financial score.
The above is the actual formula that is used to determine what your Importanceº is. When the Yellow Paper was released, I wanted to see if your stake would influence your importance. I am not very good at reading math papers, but I was able to pick out something important, which is what the "vi" means. That is the Stake Volume Index. The Stake Volume Index is actually used with your social score and your financial score, but depending on your stake the influence of the other scores might not be huge.
To try to totally understand this, the best explanation in the paper is:
Stake volume index is based on the amount of tokens owned and allocated by the account for the usage of the physical resources (CPU and bandwidth), and represents a balance proportion of the total amount of stake in the system. Thus, an account with non-zero stake balance has non-zero importance score.
After reading that, I wanted to take the risk of seeing how much it would affect my importanceº. I was being rewarded pretty well (in testnet tokens) for running a BP, so I figured why not throw a good portion of it into my stake. The worst case scenario is if it doesn't do much I have to wait 3 days while I unstake the UOS. Ever since I initially put the large amount of stake into UºOS, I have been in the #1 spot of Importanceº.
After all of that thinking, let's get some practical tips for being a BP and setting up a BP, so you can (maybe) get those sweet rewards
- Be involved in the community
- Converse with other users
- Upvote posts that are good
- Help those who ask for it
- Contribute to the community
- Make quality posts and publications
- Offer ideas and solutions
- If you want to learn more about being a BP or UºOS in general, here are a couple of links:
- A few pointers about running a BP
- Make sure you have your wallet password backed up
- As a matter of fact, have all of your keys backed up in a secure way
- Secure the server that you are using (As in firewall, SSH keys, etc)
- Run a backup server for when you need to upgrade
- Figure out a way you can monitor your BP easily
If there is anything that I missed, or if you have any questions, please ask! I will be more than happy to help.