NEAR

Secure the NEAR Blockchain

Decentralize Assets, Data & Governance

We envision a world where people control their money, their data, and the tools to build new ideas.

The mission of NEAR is to empower people to manage their assets, data, and the power of governance. Validators support this mission by ensuring a single entity cannot control or manipulate the way a network governs itself or manages data. 

In the NEAR Proof-of-Stake network, a decentralized pool of validators process transactions to keep the network secure. In return, these validators receive a reward for doing so. This system also allows delegators – entities that would like to provide security but may not have the hardware to do – to delegate their tokens to validators.

The NEAR network is now secured by 100 block producing validators, and thousands of delegators. However, our mission is to bring more validators and delegators online to further decentralize the network. 

Please join the validator community to secure the NEAR network, support decentralization, and earn rewards.

Benefits

  • Support NEAR’s mission to empower people to manage their assets, data, & governance
  • Secure the NEAR network 
  • Decentralize data and governance
  • Earn staking rewards
  • Provide staking service for delegators and earn commission

Block Producing Validators

Validators are responsible for producing blocks and the security of the NEAR network. Since Validators validate all shards, they can run the validator node on an 8-Core CPU, with 16GB of RAM, and 1 TB SSD of storage. The current plan is to have 100 Validators. The cost of running a block-producing validator node is estimated to be $330 per month for hosting. Please see our hardware and cost estimates page for more info.

The current active Validators are available on the Explorer. The minimum seat price to become a block-producing validator is based on the 100th proposal. (If more than 100 proposals are submitted, the threshold will simply be the stake of the 100th proposal, provided that it’s larger than the minimum threshold of 67,000 $NEAR.) The current seat price to become a block-producing validator is updated live on the Explorer. Any validator nodes with stakes higher than the seat price can join the active set of Validators.

Rewards

Protocol Rewards

45m $NEAR are distributed per year to the validators and delegators. Current reward rate is ~12% given the amount staked. For more details about the Validator’s economics, please check out NEAR’s Economics Explained.

Commission Fee

Validators have the ability to charge a commission on the delegation staked to their node. Each validator may decide their own commission fee structure and how reward distribution works. The typical commission fee is around 5%.

Who can join as a Block Producer?

Anyone who has three to five years of system administration, performance and monitoring experience, and familiarity with Open Source Software can run a validator node. For details on how to set up a node, please see our NEAR Validator Bootcamp. Block Producers also need to hold a sufficient number of NEAR tokens. Please see the Explorer for the current seat price to become a Block Producer.

Get Started

Learn more about how to join as a NEAR Validator, from hardware requirements to troubleshooting.

Validator Explorer

View the current list of validators, information about commission, uptime, and stake.

FAQ

How many seats will there be for validators?

There will be 100 seats for validators. We will further increase the number of validators through the introduction of Chunk Only Producers and as the demand increases.

How much $NEAR do I need to become a validator?

The  minimum stake required is based on the 100th proposal, with the caveat that the seat price will be above a minimum threshold of 67,000 $NEAR. Please go to Validator Explorer for the live seat price

How many seats will there be for validators? 

There will be 100 seats for validators. We will further increase the number of validators through the introduction of Chunk Only Producers and as the demand increases.

How much $NEAR do I need to become a validator?

The  minimum stake required is based on the 100th proposal, with the caveat that the seat price will be above a minimum threshold of 67,000 $NEAR. Please go to Validator Explorer for the live seat price. 

How do I run a validator node?

Becoming a validator on NEAR is permissionless. If you have the necessary technical skills, and the required $NEAR to meet the minimum seat price, you can set up a node and become a validator within 48-72 hours. Please see our docs to run a validator node.

How can I get help running a validator node?

If you have a question on how to run a node, join the Open Shards Alliance server or the NEAR Validator discord server. If you got your testnet node up and running, and require testnet delegation, the Open Shards Alliance #testnet channel is the place to request delegation. 

Why should I run a validator node?

You can support NEAR’s mission to empower people to manage their assets, data, and governance. You can earn staking rewards and provide staking service for delegators and earn commission.

Who can I run a validator node?

Anyone who has three to five years of system administration, performance and monitoring experience, and familiarity with Open Source Software can run a validator node. 

What are the future plans for NEAR?

Please check out our protocol roadmap here.