5 Benefits of Becoming SIX Protocol Validator Node for Your Business
Previously, our team had launched the SIX Protocol official website and shared some updates on our operation. Everyone can now find the information about the overall picture of the SIX Protocol there!
As SIX Protocol contains many fascinating aspects, it is essential that we shine the light onto each element for the community of holders, projects, or businesses to benefit from SIX Network’s first-ever public blockchain. Subsequently, the highlight of the SIX Protocol that we would like to elaborate on more today is the SIX Validator Node Partnership program. Let’s get started!
Before moving on, here’re some recaps about SIX Protocol’s Business Node (Validator Node) & Individual Node.
In SIX Protocol, the validator node will be necessary as the fundamental portion of the Protocol’s blockchain infrastructure engaging in consensus since SIX Protocol wants to cover a wide range of services. Therefore, there are two types of nodes available for interested candidates to join: the Business node and the Individual node.
Business Node (Validator Node)
The Business Node is responsible for validating and securing the transaction that occurs on the SIX Protocol. Being one of the business nodes will benefit businesses and corporates that desire to build services on the blockchain and be prepared for the Web 3.0 era. Each business node will be rewarded in SIX from the transaction fees based on the overall performance of the Protocol.
The Business Node Requires 1,000,000 SIX as an initial deposit for setting up the staking system.
NOTE: A group of individuals who can combine up to 1,000,000 SIX can become one of the business nodes as well! (Limited number of nodes) So, even if you don’t have all 1,000,000 SIX to yourself, don’t worry! You will be able to join as a business node once you have joined forces with your friends to commit 1,000,000 SIX as a group.
➢ Individual Node
Like the Business Node, SIX Protocol’s Individual Node will secure SIX Protocol infrastructure and enhance the blockchain performance. The individual node will also receive rewards in SIX for being a part of the chain’s operation.
The Individual Node Requires 20,000 SIX as an initial deposit for setting up in the staking system.
Why is Validator Node Important to the SIX Protocol Ecosystem?
In brief, the validator node is like a group of classroom members. There are a lot of activities that occur on the SIX Protocol Chain, and those activities need approval from the members. Subsequently, when you become a validator node for the SIX Protocol, you have the power to propose or approve the activities in the chain. SIX Protocol can’t be functional without the node validators.
Benefits for Businesses
You may wonder why your business must join the SIX Protocol ecosystem as a node validator. What benefit will you get?
Benefit 1 — If your business wants to issue a token, SIX Protocol makes it easy.
On SIX Protocol, businesses can easily issue their own token to the destination chain, both in cryptocurrency and NFT. The ground-shaking part is that the token issued by the SIX Protocol has a unique property of cross-chain utility, which means the token itself can exist on multiple blockchain networks, making the token distribution process reach a more comprehensive range of users.
Benefit 2 — You will earn the share of SIX Protocol transaction fees.
By keeping the chain running as one of the validator nodes, you will get rewards in SIX from the transaction fees, which are based on the overall performance of the Protocol. When the business tools are still being built in the early days of the development process, we’re happy to let you know that each business can keep the node running to receive rewards before your enterprises’ projects can be launched.
In addition, as the SIX Protocol is building its ecosystem to be filled with many enterprises from various industries, validator nodes will be able to receive the reward in other tokens or NFTs from other businesses that joined the SIX Protocol as well.
Benefit 3 — You will become a part of a strong alliance with well-known businesses.
SIX Protocol’s validator node partners are recognized as top-leading professionals in particular industries’ B2B and B2C operations. Our validator node partners range from real estate enterprises, the music and entertainment industries, department stores, online selling segmentations, digital content production firms, digital media agencies, and more.
When your business is joining the SIX Protocol, you are entering the same network as those significant partners as well.
Benefit 4 — You will be eligible to use powerful add-on services to help you integrate blockchain technology for business development.
Apart from the core structure of the SIX Protocol to help businesses migrate to the on-chain world through issuing cryptocurrency and NFTs. SIX Protocol also offers consulting services for supply figures, token distribution plans, vesting plans, randomized services, airdrops, etc.
Suppose you’re one of the business nodes; you will also be able to access all of the SIX Protocol’s facilities, including in the SIX Toolkits, including token autonomy management, web 3.0 Integration, business tokenization, and many more.
Also, the business node will be eligible to access all of the SIX Protocol’s facilities, including in the current SIX Toolkits such as token autonomy management, web 3.0 Integration, business tokenization, and many more to come in the future.
Benefit 5 — Get direct support and advice from the experts.
Building a project on the blockchain isn’t an easy task, but with the right partner, anything is possible!
Our team at SIX Protocol is full of passion-driven individuals and experts in various areas who are happy to help you and your team figure out the best way to unleash the true power of digital assets and take your business to the next level!
Summary
As mentioned above, the validator node is like a group of classroom members who can help approve the activities on the SIX Protocol Chain; in the future, we will introduce the governance part of the network for you to get more involved with what we do.
As of now, SIX Protocol’s Partnership program is open for everyone to join either as business nodes or individual nodes.
For businesses and enterprises, if you’re interested in exploring the possibilities of utilizing blockchain technology and smart contracts for business development or would like to discuss ways we can customize a project for your business, please feel free to contact our Business Development team at https://bit.ly/business-node
For individuals who are interested in joining our ecosystem to complete the mission to unleash the true power of digital assets, you can kindly join the exclusive waiting list here: https://forms.gle/wAQzLcXijneVuC3i6
If you wish to learn more about SIX Protocol, feel free to visit our website here: sixprotocol.com
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Note: To ensure that the total token supply does not exceed its intended limit, we utilize a specific account on the Stellar Network, called the
Collateral Account: GAWRUPQMZX67BCP7IIDY2PTMANVWLM7HOFDQIK44EJGRYKSPIW6FQERV.
The purpose of this account is to reserve tokens for burning quarterly in cases where new supply is created on SIX Protocol or during token migration. A portion of the gas fees collected is covered by our bounty and reserve allocations to maintain this process effectively.
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