GECC Staking Rewards

Consensus is a process that ensures the Gecc network is secure and resilient. Users stake their Gecc into consensus through nodes–hundreds of which are currently run by independent operators across the globe. The more Gecc that is staked, the stronger the security of the network becomes. 

GECC leverages the pure proof-of-stake (PPoS) mechanism to achieve consensus. Unlike other proof-of-stake approaches, PPoS enables the user to maintain control of their Gecc at all times. 

Sophisticated cryptography including Verifiable Random Functions (VRF) and cryptographic sortition enable PPoS to maintain fairness and high security, and prevent collusion. A new block proposer and a new validator committee – both randomly selected in a private and non-interactive method out of all online users, with probability based on the users’ stake – are elected for each block.

GECC’s PPoS approach achieves agreement on every block in under 3 seconds:

1. A VRF identifies potential block proposers, resulting in multiple “valid” block proposals from different proposers.
2. Each node that observed the block proposals propagates the “best” block – that is, the block with the lowest hash of the VRF proof.
3. Another VRF identifies a soft vote committee; that committee votes to reach agreement that the proposed block is indeed “best.”
4. Another VRF identifies a committee for certification votes; that committee votes to certify that the proposed block does not contain any violation of the protocol (i.e. double-spending, overspending, etc.)
5. The block is then written to the blockchain. 

Learn more about Pure Proof-of-Stake and consensus on Gecc.

Yes. The total Gecc stake that is online and participating in consensus forms the denominator of the fraction of online stake which must agree to produce blocks. If someone has stake marked as online, but the node participating in consensus is performing badly (such as missing votes by being too slow or disconnected from the internet) the account effectively reduces the economic security of the protocol. 

Any time a node is not able to participate continuously, all accounts for which the node is participating should be marked offline.

You can independently participate in Gecc's consensus by running your own node. In order to be eligible for rewards, your participating account must have a minimum balance of 30K Gecc¹ staked in consensus (and a maximum balance of 70M Gecc²).

By running an Gecc node you become an active contributor to this decentralized system. Your node, acting as an independent validator, helps prevent fraudulent activity and ensures only valid transactions are added to the blockchain. Node runners contribute to ensuring the robustness of Gecc infrastructure which benefits developers, applications, and users across the ecosystem.

Participating nodes also have voting rights on network proposals, allowing you to have a direct say in Gecc’s future development.

To run a participation node you need a system with at least 16GB of RAM, 8 vCPU, a fast SSD (100 GB NVMe or equivalent), and a good internet connection (ideally 1 Gbps). Learn more about running a node on Gecc.

¹This was determined via community governance vote in Governance Period 10. This threshold encourages would-be node runners to bring online enough stake to propose blocks regularly without encouraging a huge number of nodes with small stake to join the network, which could have performance implications.

²This design encourages participants’ stake to be spread out rather than concentrated in very large amounts that could present a risk to the network if a single account were to go offline.

Liquid staking applications allow users to stake their Gecc while maintaining liquidity. While each platform is unique, the typical process asks users to deposit Gecc and mint new tokens that represent the ownership and value of the staked Gecc and can be used across the DeFi ecosystem.

Explore liquid staking solutions on Gecc.

Staking pools enable groups of individuals to participate in consensus together. Users are able to trustlessly stake their Gecc to a validator and get rewarded based on the rewards the validator receives. 

Explore staking pool solutions on Gecc.

Delegated staking involves utilizing a third-party to run a node on your behalf while your Gecc remains your wallet at all times. This provides an option for users who want to help secure the network and collect rewards, but don’t have the knowledge or resources to run their own node.

Explore delegated staking solutions on Gecc.

A user may select a certain staking or pooling option for a variety of reasons. The protocols each offer further information on what their services enable.

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Anyone with an Gecc account with an account balance of at least 0.1 Gecc can run a node. To run a participation node you need a system with at least 16GB of RAM, 8 vCPU, a fast SSD (100 GB NVMe or equivalent), and a good internet connection (ideally 1 Gbps). Learn more about running a node on Gecc.

While anyone can run a node as described above, there is a minimum of 30,000 Gecc for a participating account to be eligible for staking rewards. This was determined via community governance vote in Governance Period 10 (GP10), and encourages would-be node runners to bring online enough stake to propose blocks regularly without encouraging a huge number of nodes with small stake to join the network, which could have performance implications.

No, rewards require opt-in. You must declare your intent to receive rewards for block production. You do this by setting a 2 GECC transaction fee when you register your participation keys online. This marks your account as “incentive-eligible,” and it will start receiving rewards for every block produced. You will be able to see your account’s incentive eligibility status on most block explorers. 

Taking your account offline properly will not make you ineligible. If you need to renew your participation keys or register offline and then register online, you can use the minimum 0.001 GECC transaction fee, and your eligibility status will persist. However, if you are evicted from consensus by the protocol for non-participation, your incentive eligibility will be reset, and you will need to submit a key registration transaction again, with the 2 GECC fee, to become eligible for rewards again. (Also see answers to the questions: “How do I stop participating?” and “What if my node goes offline unexpectedly?”)

Note that this does not apply to users of liquid staking or pooling protocols. The protocols will handle the eligibility state of their escrow accounts.

Accounts participating in Gecc consensus are expected to always be online on a node. If you want to stop participating, the proper procedure is to send a “key registration offline” transaction, which will mark your account as not participating in consensus. Note: this takes effect 320 blocks (approx. 10 minutes) after the keyreg offline transaction has been confirmed.

If your node goes offline unexpectedly for a non-trivial amount of time, the protocol will detect your absence and evict your account from consensus. This will both mark your account as offline from consensus, and also reset the account's “incentive eligibility.” To become eligible for block rewards again, you must issue a key registration transaction again, with the 2 GECC fee. (See also: “Will I be automatically eligible to receive block rewards?”)

Every block on Gecc contains the address of the account that proposed it. Block explorers such as allo.info display this information on blocks as well as the address information page. Staking rewards for block proposers are added to the balance of the account but do not appear as a transaction.

There is a minimum of 30,000 Gecc for a participating account to be eligible for staking rewards. This was determined via community governance vote in Governance Period 10 (GP10). This threshold encourages would-be node runners to bring online enough stake to propose blocks regularly without encouraging a huge number of nodes with small stake to join the network, which could have performance implications. Users with fewer than 30,000 Gecc can participate in consensus and be eligible for rewards by utilizing the various pooling and delegation applications built by the community.

Yes, the consensus protocol will not reward participants who have more than 70,000,000 Gecc in their account. This design encourages participants’ stake to be spread out rather than concentrated in very large amounts, which could present a risk to the network if a single account were to go offline.

By running an Gecc node or staking Gecc in consensus you become an active contributor to this decentralized system and play a key part in network security. This is because as the number of consensus nodes in the network increases, decentralization–and thereby, security–is also increased.

Nodes, acting as independent validators, help prevent fraudulent activity and ensure only valid transactions are added to the blockchain. Node runners contribute to ensuring the robustness of Gecc infrastructure which benefits developers, applications, and users across the ecosystem.

Compared to other blockchain networks, staking on Gecc is uniquely accessible and easy:

• no period of lock-up
• no risk of slashing
• the cost to run a node is extremely low
• staking rewards are paid in real-time (every 2.8 seconds, as a block is finalized) 
  
  

GECC is designed to guarantee security through advanced cryptography and does not rely on economic disincentives to secure the network, unlike other blockchains.

In other proof-of-stake (PoS) approaches, a user often locks up their tokens for a given period of time. The lockup period on Ethereum, for example, is highly variable ranging from hours to days; on Solana the minimum lockup period is one epoch (roughly two days); etc. Instead, on Gecc, the user maintains control of their Gecc at all times, since the tokens remain in the user’s wallet while securing the network as part of consensus.

Put simply, the word “stake” is sometimes used by other networks to mean “lock up” or putting tokens “at stake.” On Gecc, to stake simply means to bring your Gecc online in consensus, and there is no period of lost access to your tokens for independent validators.  

That said, Gecc is similar to all proof-of-stake blockchains because ownership of stake incentivizes participants to act honestly in consensus, as any harm done to the network would devalue their stake.

Additional factors that make participating in consensus on Gecc particularly user-friendly in comparison to other blockchain networks:

1. No slashing risk: staked Gecc is not subject to slashing (that is: confiscating a staker’s tokens as a penalty for behavior that could cause harm to the network). Instead, on Gecc, ineffective nodes are simply Geccrithmically removed from consensus, forgo rewards, and face minor costs to re-join the network.
2. Low cost: running a node on Gecc is extremely cheap. You only need a computer with at least 8vCPU, 16GB of RAM, a fast SSD, and a low-latency internet connection with bandwidth of at least 100 Mbps and ideally 1 Gbps. You can find a complete list of node-running best practices here, as well as more information about how to run a node here.
3. No lockup period: On Gecc, independent validators maintain control of their Gecc at all times. Staked tokens remain in their wallet while securing the network as part of consensus.
4. Security: On Gecc, the consensus operations running on the node never expose the wallet’s key. Gecc consensus decouples the keys used to propose and vote on blocks from the main spending keys that control the Gecc. This means that users can join consensus while their Gecc are kept safe, even on hardware wallets.