Skip to content

Commit

Permalink
fix links
Browse files Browse the repository at this point in the history
  • Loading branch information
lucas-tortora committed Jan 30, 2025
1 parent 6f7c889 commit df2913d
Show file tree
Hide file tree
Showing 5 changed files with 6 additions and 6 deletions.
2 changes: 1 addition & 1 deletion docs/content/about-iota/about-iota.mdx
Original file line number Diff line number Diff line change
Expand Up @@ -85,4 +85,4 @@ Transactions on the IOTA network require [gas](./tokenomics/gas-in-iota.mdx) fee

## Consensus on IOTA

IOTA uses a delegated proof-of-stake (DPoS) consensus mechanism to validate on-chain transaction blocks. [Validators](../operator/validator-committee.mdx) on the IOTA network must secure a certain amount of IOTA tokens on the IOTA Mainnet to demonstrate their commitment to the network's security. This approach aligns the interests of all validators with those of IOTA users, ensuring an efficient and secure blockchain without the high energy demands of earlier blockchains.
IOTA uses a delegated proof-of-stake (DPoS) consensus mechanism to validate on-chain transaction blocks. [Validators](iota-architecture/validator-committee.mdx) on the IOTA network must secure a certain amount of IOTA tokens on the IOTA Mainnet to demonstrate their commitment to the network's security. This approach aligns the interests of all validators with those of IOTA users, ensuring an efficient and secure blockchain without the high energy demands of earlier blockchains.
Original file line number Diff line number Diff line change
Expand Up @@ -7,13 +7,13 @@ import questions from '/json/node-operators/validator-committee.json';

A set of independent validators participate on the IOTA network, each running its own instance of the IOTA software on a separate machine (or a sharded cluster of machines the same entity operates). Each validator handles read and write requests sent by clients, verifying transactions and updating on-chain information.

To learn how to set up and run an IOTA Validator node, including how staking and rewards work, see [IOTA Validator Node Configuration](validator-config.mdx).
To learn how to set up and run an IOTA Validator node, including how staking and rewards work, see [IOTA Validator Node Configuration](../../operator/validator-config.mdx).

IOTA uses Delegated Proof-of-Stake (DPoS) to determine which validators operate the network and their voting power. Validators are incentivized to participate in good faith via staking rewards, which are slashed in case of misbehavior.

## Epochs

Operation of the IOTA network is temporally partitioned into non-overlapping, approximate fixed-duration (~24-hour) epochs. During a particular epoch, the set of validators participating in the network and their voting power is fixed. At an epoch boundary, reconfiguration might occur and can change the set of validators participating in the network and their voting power. Conceptually, reconfiguration starts a new instance of the IOTA protocol with the previous epoch's final state as [genesis](genesis.mdx) and the new set of validators as the operators. Besides validator set changes, tokenomics operations such as staking/un-staking, and distribution of staking rewards are also processed at epoch boundaries.
Operation of the IOTA network is temporally partitioned into non-overlapping, approximate fixed-duration (~24-hour) epochs. During a particular epoch, the set of validators participating in the network and their voting power is fixed. At an epoch boundary, reconfiguration might occur and can change the set of validators participating in the network and their voting power. Conceptually, reconfiguration starts a new instance of the IOTA protocol with the previous epoch's final state as [genesis](../../operator/genesis.mdx) and the new set of validators as the operators. Besides validator set changes, tokenomics operations such as staking/un-staking, and distribution of staking rewards are also processed at epoch boundaries.

## Quorums

Expand Down
2 changes: 1 addition & 1 deletion docs/content/about-iota/tokenomics/gas-pricing.mdx
Original file line number Diff line number Diff line change
Expand Up @@ -32,7 +32,7 @@ On the IOTA network, a single $ReferencePrice$ exists throughout each epoch, wit

More generally, the IOTA gas price mechanism makes the $ReferencePrice$ a credible anchor for you to reference when submitting transactions to the network. Providing reasonable confidence that transactions submitted with gas prices at or close to the reference price are executed in a timely manner. This is achieved through three core steps:

- **Gas price survey:** All validators are surveyed at the start of each epoch, and every validator submits their reservation price. That is, each validator states the minimum gas price at which they are willing to process transactions. The protocol orders these quotes and chooses the 2/3 percentile by stake as the reference price. The gas price survey goal is to set a reference price under which a [quorum](../../operator/validator-committee.mdx#quorums) of validators are willing to promptly process transactions.
- **Gas price survey:** All validators are surveyed at the start of each epoch, and every validator submits their reservation price. That is, each validator states the minimum gas price at which they are willing to process transactions. The protocol orders these quotes and chooses the 2/3 percentile by stake as the reference price. The gas price survey goal is to set a reference price under which a [quorum](../iota-architecture/validator-committee.mdx#quorums) of validators are willing to promptly process transactions.
- **Tallying rule:** Throughout the epoch, validators obtain signals over the operations of other validators. Each validator uses these signals to build a (subjective) evaluation over the performance of every other validator. Specifically, each validator constructs a multiplier for the stake rewards of every other validator such that validators who behave well receive boosted rewards, and validators who do not receive reduced rewards. The tallying rule goal is to create a community-enforced mechanism for encouraging validators to honor the reference gas price.
- **Incentivized stake reward distribution rule:** At the end of the epoch, the distribution of stake rewards across validators is adjusted using information from the tallying rule. Specifically, a global multiplier is built for every validator using the median value (weighted by stake) out of the set of individual multipliers constructed during the tallying rule. All else equal, validators that operated performantly receive their regular stake rewards, whereas validators who did not operate performantly at the reference gas price receive slashed rewards. Since stake rewards are influenced by the amount of stake each validator owns, validators are encouraged to obtain more stake by lowering gas fees and pricing out inefficient validators. This benefits IOTA end users since the stake reward distribution rule incentivizes validators to deliver a more cost-efficient network.

Expand Down
2 changes: 1 addition & 1 deletion docs/content/about-iota/tokenomics/proof-of-stake.mdx
Original file line number Diff line number Diff line change
Expand Up @@ -25,7 +25,7 @@ The IOTA economic model works as follows.

At the beginning of each epoch, two important events happen:

- The delegated tokens for a given validator are added up and a new [committee](../../operator/validator-committee.mdx) is formed.
- The delegated tokens for a given validator are added up and a new [committee](../iota-architecture/validator-committee.mdx) is formed.
- The reference gas price, set as described in [IOTA Gas Pricing](./gas-pricing.mdx), is updated.

Following these actions, the protocol computes the total amount of stake as the sum of staked IOTA.
Expand Down
2 changes: 1 addition & 1 deletion docs/content/operator/operator.mdx
Original file line number Diff line number Diff line change
Expand Up @@ -18,7 +18,7 @@ Guides that inform full node operators include:

Guides that inform validators how to operate on IOTA include:

- [Validator Committee](validator-committee.mdx)
- [Validator Committee](../about-iota/iota-architecture/validator-committee.mdx)
- [Validator Configuration](validator-config.mdx)
- [Validator Tasks](validator-operation/validator-tasks.mdx)

Expand Down

0 comments on commit df2913d

Please sign in to comment.