Decentralization will be achieved by moving the transaction validation duty from the Flare Foundation to community-run FTSO data providers, but this will not happen instantly.
Instead, to ensure a safe transition, a number of professional validators were initially enabled and continue to be employed.
The professional validators were chosen among companies with proven experience running blockchain infrastructure and at first held most of the validation power. This power, though, will be progressively shifted onto the community-run validators until they run the network on their own.
This initial period is called Flare Beta, and it will span several launch phases.
Flare Beta Details#
The Flare Beta began at the same time as the token distribution event (TDE).
During this period:
20 total validators with equal validation power (20K FLR each, initially) are enabled.
- 4 run by the Flare Foundation.
- 16 run by 4 professional validators.
Each FTSO running an observation node will be a candidate to become a validator node later. These nodes are regularly scanned to ensure they meet security standards. If they meet the security standards, they enable the node operators to receive rewards.
Validator rewards are split 50% for the professional validators and 50% for the FTSOs running observation nodes.
Estimated duration: 6 - 9 months, depending on the evolution of the network.