# Summary Welcome to the documentation portal for EgonCoin enclosed mainnet! ![The Future is Now](/files/EU23V6vKvr3xmg556Yi3) ```markup NOTE: EgonCoin enclosed mainnet is using Testnet V3 as current network for both mainnet and testnet. Enclosed mainnet starting from 10/2023. After enclosed mainnet comes OPEN mainnet! What Next? You can help to spread the word about EgonCoin using test coins. Get EgonCoin test coins and send to as much people as you can to spread the word worldwide. It is easy - just target 5 people each day and gift them free test EgonCoin! ``` Welcome to the go-to portal for in-depth information about the EgonCoin (EGON) platform and ecosystem and how to interact with them! The EgonCoin documentation is separated into three major parts: **1.** **EgonCoin Docs**. This part is available in the sections below is for anyone who wants to learn more about EgonCoin without going into detail that only developers would usually need to know. **2.** **Developer docs.** Developers wishing to build on top of EgonCoin and its mobile-centric infrastructure or run validator nodes should consult this [portal](https://docs.egonscan.com/general-1/network-details). **3. Tutorials.** This part contains various consumer-focused tutorials. Coming soon. {% hint style="info" %} Join our [Telegram group](https://t.me/eaglenetworkapp)\ Or say hello at: [Twitter](https://twitter.com/eaglenetworkapp) {% endhint %} # Learn about the EgonCoin Platform EgonCoin is a decentralised payments-focused platform powered underneath by the fast and low-cost EgonCoin blockchain. In this section, you will be able to learn more about: * The vision and strategy behind the platform and its main components * How the EgonCoin blockchain works, its native EGON coin and its governance and development * How EgonCoin is connected to other major chains # EgonCoin Overview: vision, strategy and platform components EgonCoin is a decentralised blockchain-powered platform and technology stack whose goal is to enable genuine mass adoption of crypto payments and decentralized finance (DeFi). The EgonCoin project started from 2017 when the development team setup a cryptocurrency analytical web portal as a study of the market dynamics which is still influential today at coinvila. From February 2021 the development team became more active as a mobile mining community was launched with more than 3 million active users achieved within a year. The EgonCoin blockchain is the next level for the community as the different apps, and DApps created since February 2021 will now be combined under one vibrant ecosystem with EgonCoin blockchain been the power house. ### The Problem The currently existing financial system falls way short of the objective of providing the people globally with access to fast, friction-less payments, attractive financial services and passive income opportunities. This is especially relevant for the developing countries. Hundreds of millions of people there lack access even to the basic banking services, let alone access to more advanced financial opportunities. They also often have to transact using highly unstable fiat currencies, prone to episodes of sudden profound devaluation. At the same time, even in the poorest countries, the pace of mobile phone adoption has been staggering. In sub-Saharan Africa, more people have access to mobile phones than to clean drinking water. In addition to this, the rise of blockchain technology and cryptocurrencies has finally created the possibility for potentially anyone on the planet to send and receive funds without the permission of any entity, using currencies that cannot be manipulated. ### What the crypto industry still lacks However, while we are observing a lot of activity in the crypto space (especially in the crypto asset markets, and the DeFi and NFT sectors), genuine mass adoption of crypto payments and DeFi is still not there. The currently available products and tools, with their complicated and disparate UX, are mostly geared towards sophisticated crypto users with significant financial means. ### How we go about it Our approach to bringing crypto payments and DeFi to the masses primarily consists in empowering other projects, businesses, organisations and communities to adopt crypto payments and decentralised finance (DeFi). This is achieved by providing clients with **convenient, mobile-first tools for creating and managing token-powered environments**, as well as for on-boarding users to those and enabling them to interact. ### Platform Components The EgonCoin platform has three main components: 1\) **The EgonCoin blockchain**. The EVM-compatible public blockchain is the decentralised, permission-less backbone of the EgonCoin platform and ecosystem. 2\) **The mobile-centric open-source technology stack** designed to help businesses and developers plug crypto payments into real-world use cases. This toolkit has subsumed into the new EgonCoin platform. 3\) **A set of reference decentralised finance (DeFi) products and tools**. The goal of these is to pave the way for the initial adoption of the platform over time. # The EgonCoin Blockchain Elevated Proof of Stake (EPoS) ## Network Overview and Key Metrics EgonCoin is the decentralized EVM-compatible public blockchain that powers the EgonCoin platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of EgoinChain on the fly with same codebase. The EgonCoin blockchain uses a variant of delegated Proof of Stake (dPoS) for achieving consensus. The consensus is secured by a significant number of independent validators, only few of which is run by the EgonCoin core team. Validators are also responsible for the most important type of governance on EgonCoin, namely, adopting the network protocol changes via EgonCoin Elevated Proposals (EEPs). The native token of the network is called EGON. There is no issuance of additional coins like on other DPoS chains, instead the development team opted to hard code the maximum supply so it remain fixed forever, instead supply will be burned with each transaction, and development team will be carrying out a quarterly burn to reduce supply further. The EgonCoin blockchain is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on EgonCoin is around 3 seconds, and it currently costs much less than 0.00005 to get a transaction confirmed. In its present capacity, the EgonCoin blockchain is capable of processing around 10,000 native token transfers per second. The faster processing of native token transfers is due to the fact that they do not involve computations run on the network's virtual machine. # Discovering the Network This is the EgonCoin Testnet. Mainnet comes after testnet phase. The following information will help you discover and connect to the EgonCoin blockchain: * Network name: **EgonCoin Mainnet** * Chain ID: 271 * Gas price: **1 gwei** * official RPC: [https://rpc.egonscan.com](https://rpc.egonscan.com/) * Explorer: * Network name: **EgonCoin Testnet** * Chain ID: 271271 * Gas price: **1 gwei** * official RPC: * Explorer:[ https://testnet.egonscan.com](https://testnet.egonscan.com) # EgonCoin Consensus Consensus refers to the agreement process between nodes in a network. The nodes must agree on which transactions to include in the next block on the chain before these transactions are committed. There are 2 aspects to the process - the actual consensus mechanism to add transactions to blocks, and Sybil protection and validator incentives. ### Sybil protection and incentives via delegated proof of stake EgonCoin uses a form of delegated Proof of Stake (dPoS) to provide Sybil protection and align the validator incentives. In order to participate in securing the network consensus, a node operator must stake a minimum required amount of EGON coin (currently set at 50,000 EGON). Becoming a validator on EgonCoin is permission-less, meaning that a node operator just needs to satisfy certain technical requirements. The need to stake EGON ensures that an entity cannot create multiple seemingly distinct validators without incurring a significant cost. Hence, the Sybil protection. Currently, the maximum number of Active validators on EgonCoin is 51. The validator who publishes a block agreed upon during a given consensus round is rewarded by the network transaction fees like seen on other DPoS chains, while EgonCoin development team added a secondary reward mechanism for active nodes through a stake contract which all validators earn from turn by turn. Over time, validators can expect to publish a share of blocks equal to their share of the overall stake. One major difference with EgonCoin EPoS with other DPoS is that there is no additional block reward. This also means there is no delegation role, instead holders can make use of the Elevated stake contract to stake and get rewarded over time. About 20% of the total supply is allocated into this Elevated staking contract for both validators and holders alike to stake and earn more EGON over time. Validators who violate the consensus rules (by, for instance, not revealing random numbers) can expect their Elevated stake to be revoked. This provides a strong incentive for validators to behave in the desired manner. # Elevation through Staking with Validators As discussed on the previous page, EgonCoin blockchain do not offer any delegation role at all. Holders can stake directly on the staking Dapp to get rewarded from the allocated 20% supply. A holder of EgonCoin is free to stake using the staking Dapp to stake for any length of time, and he can unstake anytime. However there is a 15% fee (only from earned reward) for users who try to game the staking contract by unnecessary stake/unstake and stake/unstake all within a short time. Elevating stake reward ranges from 1% to 18% according to duration of stake. A holder receives a share of EgonCoin Reserved stake funds proportionate to their staked amount, and duration of stake. Currently, holders are allowed to unstake their EGON at any time. Minimum stake amount is 10EGON. # Ethereum (EVM) Compatibility and Smart Contracts In addition to the information about the transactions processed by EgonCoin, its nodes also permanently store and update the code and current state of smart contracts. Smart contracts are computer programs (persistent scripts) that anyone can interact with by sending transactions invoking them. Smart contracts also have their own accounts which can hold token balances. On the network nodes, smart contracts are stored and executed in a special environment called 'virtual machine' (VM). The EgonCoin blockchain is currently broadly compatible with Ethereum's virtual machine (EVM). This means that any smart contract or decentralized application (dApp) that can be deployed on Ethereum or another EVM-compatible chain will also function if deployed on EgonCoin, including the ERC20 and ERC721 standard-compatible contracts, for instance. No modification of the smart contract code is required. # EgonCoin Token (EGON) The EGON token is the native currency of the EgonCoin blockchain and platform, just like ETH on Ethereum. ## EGON utility: * **Transaction fees:** Being the native currency on the EgonCoin blockchain, EGON is required to pay fees to the network in order to approve transactions. * **Validation** Token holders can stake EgonCoin to become a validator. The minimal staking requirement is 50K. The network is growing. * **Staking (for holders)** Any EGON holder can stake any amount of EGON they wish. They receive a share of the EgonCoin stake rewards proportionate to the share of their stake in the total stake. * **Payments** As EGON is the native currency on EgonCoin, sending it does not require interactions with smart contracts. Thus, EGON transfers are potentially faster and less costly in terms of transaction fees. **IMPORTANT**: Merely possessing any amount of EGON tokens does not endow holders with any rights to participate in the governance of the EgonCoin platform or any revenue streams related to its real-world performance. ## Obtaining EGON ### Where to Buy EGON will be available for purchase on a number of centralized (CEX) and decentralized DEX exchanges soon after OPEN mainnet is launched. **NOTE:** **There is no sale of EgonCoin now since what is available is Enclosed mainnet. Buy/Sale only happens with OPEN mainnet. Kindly wait till open mainnet is reached.** ### Where to Farm Soon. ### Other ways of obtaining EGON From time to time, the EgonCoin team uses EGON to pay rewards to the members of the community for various forms of participation and community engagement. The best way to stay up-to-date about these opportunities is to follow EgonCoin's social channels. The EGON coin is also used to power EgonCoin grants and bounties. Please consult the Grants and Bounties section for more details. \_\_ # EGON Tokenomics The EGON coin supply is set to max supply of 271 million. The main reason for choosing a fixed supply model is to ensure a certain predictability of the flow of revenue for network validators and holders. EgonCoin supply cannot increase. Both holders and validators can get more coin by long time staking of EGON from the Elevated staking contract. The staking contract holds 20% of supply. ### # Interoperability Here, you can find the information that can help you navigate the interoperability options that you can use to transfer tokens to and from the EgonCoin blockchain. The EgonCoin team strongly believes in interoperability among public blockchains. No single platform is likely to become fully dominant in the future. Hence, interoperability solutions enabling transfers between EgonCoin and other blockchains are vital for the continued growth of the EgonCoin platform and ecosystem. The EgonCoin team has been making considerable progress in getting EgonCoin added by the leading operators. Currently the EgonCoin blockchain is connected to other blockchains via the following multichain bridges and value transfer protocols: Coming Soon. ### # EgonCoin Governance and Development EgonCoin is already a significantly decentralized platform and plans are in motion to achieve full community control over it in the future. Its governance is currently split among the following actors: 1\) **Network Validators.** EgonCoin validators are entrusted with deciding whether to adopt [EgonCoin Elevated proposals](https://docs.egonscan.com) (EEPs). Currently, every validator has one vote regardless of their share of the overall network stake but this is likely to change soon. 2\) **EgonCoin Foundation and the project team**. Like most public blockchain projects at the initial stage of development, the development of the core network protocol and the EgonCoin treasury that mostly consists of the undistributed genesis EGON supply (see the subsection "[EGC Supply and Current Distribution](https://docs.egonscan.com/)") are currently mostly managed by a foundation. For EgonCoin, this role is played by Belize-incorporated company Egon Technology Limited. EgonCoin Foundation **employs the EgonCoin project team** whose members' profiles can be found [here](https://t.me/eaglenetworkapp). The project team implements network protocol updates adopted by the validators, other protocol changes that do not require validator votes, maintains the full node software. It develops the mobile-centric infrastructure for creating and managing token communities on EgonCoin. It also works on boosting the adoption of the network through improving the EgonCoin tech stack, securing new partnerships and integrations, on-boarding ecosystem projects and marketing the platform within the crypto space and beyond. That said, since EgonCoin is a decentralized public blockchain platform, **no permission of the project team is required** for anyone who wishes to integrate with or develop on top of EgonCoin, including the development of the network and node software. 3\) **EgonCoin Assembly.** See the Assembly page for more details. # EgonCoin Assembly # EgonCoin Elevated Proposals (EEPs) EEPS are EgonCoin Elevated Proposals that are published on Github and extend capabilities of the network and improve it over time. Proposals can be suggested by any entity and discussed under this Github repository: Coming Soon. After proposing and discussing every proposal, the proposal that will be implemented are voted on by the validators before upgrading the network. # EgonCoin for Business While the EgonCoin platform strives to provide crypto users with a solid range of options they expect to see on a major EVM-compatible blockchain, including wallets, decentralized finance (DeFi), NFTs, and so on, our main focus remains developing EgonCoin into alternative rails for the global payments industry. We want a future where hundreds of millions of people worldwide use crypto for their everyday needs. However, it is our conviction that most consumers will not use the blockchain for payments directly, as crypto-savvy people do now, at least in the foreseeable future. Most people are not prepared to run their bank accounts directly on-chain and be exposed to the friction and risks involved. Instead, applications will need to be built that will make the experience of making payments and other financial transactions as smooth and close to what users have become familiar with while using modern payment apps. These will run on top of the blockchain but they will not force users to handle private keys or pay transaction fees. This section provides an introduction to the EgonCoin tools that businesses and other organisations can already put to use to develop just such applications. # Things you can do on EgonCoin Coming Soon . . . **EGON Powered Use Cases**\ CEX Crypto Exchange\ Crypto Price Analyst\ EGON Staking Dapp\ Web3 Defi Wallet\ EgonNFT Game\ EgonBrowser\ Egonverse\ EgonWork\ EgonMall\ EgonPay\ EgonAi # Interacting with the EgonCoin Blockchain # EgonCoin Ecosystem # Community **Twitter**: **Instagram**: **Telegram**: **Telegram**: **Github**: **EgonWallet App Knowledge Base**: [https://egonwallet.com/help](https://egonwallet.com/help/) # Grants and Bounties Since the inception of EgonCoin, the core team has facilitated the growth of the EgonCoin blockchain and also developed a set of tools for developers to be able to easily and quickly build extremely user-friendly decentralized applications (dApps). Our focus has primarily been on payment-centric use cases. Now, we would like to see our tools used by even more high-quality projects, therefore, we stand ready to fund applicants for the EgonCoin Grants programs. ​The EgonCoin Future Dev Pool will be used to support projects that bring value to the EgonCoin ecosystem and users. We are especially interested in new high-potential payment centric communities, DAO initiatives, applications for new crypto users, NFTs, DeFi apps, projects that support current projects, and new categories we haven't even thought of yet! Although the grant process is not set in stone, the way it currently functions is that we announce bounties on an ongoing basis based on the project category. Please consult the next page to see the bounties that are currently available. Although the terms of grants may vary depending on the use case, candidates will generally be selected based on the following criteria: * Strength of the team following analysis of GitHub, LinkedIn, etc. * A written description of the project. We are not necessarily looking for long detailed text but our ability to understand clearly and see the value proposition will play an important role. * Tech and product quality based on any work done so far and/or product roadmap vision. **We invite submissions from** **click here** **to apply** *** # EgonCoin Mobile Infrastructure Use Cases Given its easily customizable character, EgonCoin's mobile-centric infrastructure for issuing tokens and creating communities around them has a wide range of potential applications. Companies and other organizations can use either EgonCoin in conjunction with a customised version of EgonWallet to create tokens to be used by users on-boarded either to their proprietary app or a fork of EgonCoin Wallet. They can also whitelist businesses for the token community ecosystem and activate fiat on-ramps. In what follows, we would like to provide a few already implemented token community use cases for illustration. # Network Details * Network name: **EgonCoin Mainnet** * Chain ID: 271 * Gas price: **1 gwei** * official RPC: [https://rpc.egonscan.com](https://rpc.egonscan.com/) * Explorer: * Network name: **EgonCoin Testnet** * Chain ID: 271271 * Gas price: **1 gwei** * official RPC: * Explorer:[ https://testnet.egonscan.com](https://testnet.egonscan.com) Please refer to quickstart if you wish to run your own node. # EgonCoin Testnet ### General Information | Block size | Block speed | Gas price | Patchset | Native token | Network ID | | ---------- | ----------- | --------- | -------- | ------------ | ---------- | | 20,000,000 | 3 seconds | 1 GWei | | EGC | 31229 | * Network name: **EgonCoin** * ChanId: **31229** * Gas price: **1 gwei** * RPC * official RPC:[ ](https://rpc.egonscan.com)[https://rpc.egonscan.com ](https://rpc.egonscan.com)​ * Explorer: ​ ### # Network Upgrades Major updates on the network level are introduced via forks. {% hint style="danger" %} Forks are used to introduce new functionality or fix security related issues. Node runners will receive instructions on how and when to update their nodes in the event of a fork. {% endhint %} Information related to forks along with upgrade information will be posted here. If any assistance is needed, feel free to reach out or ask questions through the forum or other channels. # Upgrade Guide (explorer nodes) This guide is intended specifically for explorer nodes. Since we don't host snapshots for explorer DBs, some extra steps are required in order to update from V1.0.0 to V2.0.0. ### Step 1 - Stop all running containers ``` sudo docker stop $(sudo docker ps -q) ``` ### Step 2 - Pull the latest quickstart script ``` cd wget -O quickstart.sh https://raw.githubusercontent.com/EgonCoin/EgonCoinNetwork/master/scripts/quickstart.sh ``` ### Step 3 - Upgrade your DB using OEs upgrade tool It is highly recommended to take a back up of your database folder before attempting!. Follow the instruction here to upgrade from V13->V16 DBs . The data base is stored in \/egonnetwork/database/egonNetwork/db/dee77c98f8210dbb/archive ### Step 4 - Update Client version in env file and rerun quickstart ``` vim .env Add the following (without quotes) "CLIENT=OE" Save and exit :w :q sudo ./quickstart.sh ``` ### Step 5 - Verify Upgrade Check your node on our health site It should be online and the client should be "OpenEthereum//v3.2.6-stable", ensure your node is connected to peers and syncing/ in sync. # Block 13,800,000 Fork This fork Requires OE 3.2.6 or newer. ​[EIP 152](https://github.com/ethereum/EIPs/blob/master/EIPS/eip-152.md)​ ​[EIP 1108](https://eips.ethereum.org/EIPS/eip-1108)​ ​[EIP 1283](https://eips.ethereum.org/EIPS/eip-1283)​ [EIP 1344](https://eips.ethereum.org/EIPS/eip-1344)​ ​[EIP 1706](https://github.com/ethereum/EIPs/blob/master/EIPS/eip-1706.md)​ ​[EIP 1884](https://eips.ethereum.org/EIPS/eip-1884)​ ​[EIP 2028](https://eips.ethereum.org/EIPS/eip-2028)​ ​[EIP 2565](https://eips.ethereum.org/EIPS/eip-2565)​ ​[EIP 2929](https://eips.ethereum.org/EIPS/eip-2929)​ [EIP 2930](https://eips.ethereum.org/EIPS/eip-2930)​ # FIP's The EgonCoin Elevated Proposal See FIP1 for more info ### What is a FIP? EEP stands for EgonCoin Elevated Proposal. A EEP is a design document providing information to the EgonCoin community, or describing a new feature for EgonCoin. The EEP should provide motivation and technical specification for the feature. | EEP | Description | Status | | ----- | ---------------------------------------- | ------ | | EEP-1 | Introduction and explanation about EEP's | Done | | | | | | | | | | | | | | | | | | | | | | | | | | | | | # EgonCoin Consensus Consensus is a fault-tolerant mechanism that is used in blockchain systems to achieve the necessary agreement on the single state of the network. EgonCoin network is using a [Elevated Proof of Stake](https://en.bitcoinwiki.org/wiki/DPoS) (EPoS) consensus model, which uses DPoS codebase but with no block reward. EPoS is a variation of [Proof of Stake](https://en.bitcoinwiki.org/wiki/Proof-of-stake) consensus. In PoS there are a set of validators that are responsible for keeping the network updated and validating the network's state. They do this in turns, every validator has their turn in line. On their turn the validator updates the network's state, and the rest of the validators check that the update is valid. ![](https://github.com/EgonCoin/Docs/blob/master/.gitbook/assets/image%20\(3\).png) Consensus contract is used to manage the list of the network validators. BlockReward - there is no blockreward with EPoS. A secondary contract calculates the reward amount that validators and holders will receive with stake. The stake reward is proportional to EGON stake amount. This secondary stake contract holds about 20% of the total supply. With Voting contract validators are vote on various changes on these 3 base level contracts. All those contracts are proxied with implementation that handles the logic. The implementations can be changed only by the Voting process. The bridge is used to transfer the EgonCoin native token between EgonCoin and Ethereum networks. ## Consensus - 0x000000000000000000000000000000000000f000 This contract is responsible for handling the network EPoS consensus. The contract stores the current validator set and chooses a new validator set at the end of each cycle. The logic for updating the validator set is to select a random snapshot from the snapshots taken during the cycle. The snapshots are taken of pending validators, who are those which staked more than the minimum stake needed to become a network validator. Therefore the contract is also responsible for staking, and withdrawing those funds. Stake amount for a validator is the sum of staked amount to it's address. This contract is based on `non-reporting ValidatorSet` [described in Parity Wiki](https://wiki.parity.io/Validator-Set.html#non-reporting-contract). {% hint style="info" %} minimum node setup amount = 50,000 EgonCoin minimum Elevated stake amount = 50,000 EgonCoin cycle duration blocks = 86400 {% endhint %} ## ## {% hint style="info" %} {% endhint %} ## # Contracts Overview ![](https://github.com/EgonCoin/Docs/blob/master/.gitbook/assets/image%20\(7\).png) # Stake and Withdraw The basic requirement to become a EgonCoin chain validator is to have a stake amount of at least 50,000 EgonCoin. The stake amount is the sum of staked EgonCoin tokens of the address. This guide walks trough the process of using metamask in the process of using EgonCoin network. ## Stake There are two options to stake (both should be called from the address which would be the validator) 1. Call the \`stake\` function on the validators dapp on the EgonCoin network. ## Withdraw Both stakers and validators can withdraw their EgonCoin tokens, up to the staked amount, at any time. The withdrawn amount will be deducted from the validator stake amount, and if the stake amount becomes below the minimum stake amount - the validator will be removed from the EgonCoin chain validators list.There are two options to withdraw: 1. Call the \`withdraw\` function on the consensus contract and Elevated DApp with one parameter - the amount to withdraw. This call is for stakers, and validators alike, and will reduce the stake interest amount of the sender address. 2. Unstake: This will remove both amount staked and interest earned to date. # Contract Addresses | Contract | EgonCoin address | Testnet address | | --------- | ---------------- | --------------- | | Consensus | | | | Reward | | | # How to run network nodes ## Run and Setup Node Read more at: {% embed url="" %} {% embed url="" %} # Resources & Tools ### DApp Management & Development Tools [The Graph](https://thegraph.com) supports EgonCoin data indexing, quierying and display. [Remix IDE](https://remix-project.org/): It's easy to deploy on EgonCoin with Remix, simply choose injected web3 and add the EgonCoin custom RPC to your Metamask. [JustSmartContracts](https://justsmartcontracts.dev/): another smart contract deployment tool for EVM chains. [OpenZeppelin Defender](https://defender.openzeppelin.com): Manage smart contract administration including access controls, upgrades and pausing. # TheGraph Build of The Graph, we expose a GraphQL API to access the data on the EgonCoin Network ## Deploying your own subgraph TheGraph, a decentralized protocol for indexing and querying chain data, supports the EgonCoin Netork.Go to to sign up and create your subgraph. * Follow the instructions for how to deploy the subgraph * in `subgraph.yaml`, the network name should be `egon` ## Available Subgraphs Subgraphs that builded and maintained by the EgonCoin team, deployed on EgonCoin internal infrastructure or The Graph hosted service. ### EgonCoin Consensus on EgonCoin graph-node: ### # WalletConnect on EgonCoin [WalletConnect](https://walletconnect.com) is an **open-source protocol for data exchange between wallets and decentralized applications (dApps)**. The process takes place via a specialized server and the flow of data is encrypted in both directions. From the user’s perspective, although the exact details may vary from wallet to wallet, there are two ways of using WalletConnect. In the mobile-to-mobile mode, the user opens the website of the dApp that they are interested in, clicks the “connect wallet” tab there and chooses their preferred wallet. The desktop-to-mobile approach involves using the Wallet Connect-enabled wallet on the mobile phone to scan the QR code of the dApp displayed in the desktop browser. After the session, the dApp may be disconnected, and users are even advised to disconnect dApps for security reasons. For developers who wish to integrate the WalletConnect functionality into their dApps running on EgonCoin, we recommend using this library. # How to become a validator The EgonCoin network is operated by validator nodes that are hosted by network participants from all around the world. The network allows entrepreneurs to easily plug payments to their products and on-board their users to a platform that allows them to pay, transact and access financial services in their favorite currency. All the access to the network is public and all the code is open source so it could be customized and localized to their needs. Any community that lives on the EgonCoin chain needs to pay a small fee to the validators of the network to validate its transactions in the community. The more communities and users conducting transactions, the more validators will earn as a reward for approving the transaction. This allows the network to grow organically as more usage in the system more network participants rewards grow.\\ ### What it means to be a validator? Any entity that is holding the EgonCoin token can run a node that approves transaction in the network and in doing so receive rewards in the form of EgonCoin token (EGC). Validators are running special software that holds a copy of the EgonCoin blockchain and validating transactions in the network. Every 3 seconds, the network groups the latest transactions broadcasted to the system, validates them and signs them so they could never be changed in the future. For this work the validators receive the transaction fees on each block, and the Elevated Stake contract allocates additional coin for the staked coin. The EgonCoin chain offers no blobk reward as there is no coin inflation at all since the mamixum supply is fixed at 271,000,000. Validators are contributing their computer resources to maintain the network and need to have some technical knowledge in dealing with hosting this kind of software (see [Running a validator node](https://github.com/EgonCoin/EgonCoinNetwork/tree/master/node-example)) and participate in the network governance through voting. Validators are the guardians of the network and are in charge of not only maintaining it but also to steer it in its future through the governance mechanism that allows any holder of EgonCoin token to vote on important decisions and upgrades to the network in its development and resource allocation. ### Who should become a validator? * **Companies who build on the network** - EgonCoin open source stack allows many companies to collaborate on the same code-base. Allowing any company that is interested in using the EgonCoin services and code to join as a stakeholder is a new innovative approach to collaboration and partnerships. Any company that builds products on the network can own a piece of it and become a stakeholder. Running a node in the process will allow the company to earn rewards and grow as the network grows. The company can also use this open-source infrastructure to save costs for their development needs. Operating a node gives reliable access to the network, participation in its governance and aligns all the different interest behind the operation of the network. * **3rd party service providers** - We are starting to see many service providers creating and providing services across different blockchains. Services like KYC, exchanges, credit score providers, lenders, etc… Any service provider can become a stakeholder in the network and already today we are seeing the potential of cross-blockchain transactions uniting business processes between different entities using cryptography and without middlemen. * **Community operators on EgonCoin** - Community operators are the foremost stakeholders in the network and can upgrade themselves to a validator and thus provide better access to their clients. ### Who can become a validator (Technical requirements) * See [*Running a validator node*](https://github.com/EgonChain/Egoncoin-Core#egon-blockchain-node) *1*\_\_ * See additional [*Running a validator node 2*\_\_](https://docs.google.com/document/d/1l-tcXkaM9hbKzKwgyy6ejOuuMtdKp-De8IrZfMHRVCM/edit) ### Who shouldn’t become a validator (and what can he still do) * **Non technical users** - Running a node requires technical background in blockchain and web hosting. It’s not very complicated but also not trivial or basic. * **Simple holders** - We are looking for validators who are invested in the future of the network and are looking to take an active part. This is what the EPoS (Elevated Proof of Stake) mechanism was born to do. ### How to become a validator? * Minimum of 50K coin staked. In a EPoS blockchain it is required that all the validators have a staking requirement. The stake of 50K EgonCoin tokens needs to be locked in a contract to be eligible to become a validator. * Run a full node. # Getting started as a validator ## Pre-requirements In order to be a EgonCoin validator, you first must see that you meet the pre-requirements: * You know what it means to be a EgonCoin validator - How to become a validator * You have at least 50K EGON coins for node stake setup, and another 50k EGON coin for Elevated staking dapp for additional increased income * You have an always-on hardware that meets the pre-requisites - How to run network nodes ## How to become a EgonCoin validator To quickly become a validator, follow this steps: Read more at [https://github.com/EgonCoin/Egonchain](https://github.com/EgonChain/Egoncoin-Core#egon-blockchain-node) Additional doc at [Egonchain setup doc link](https://docs.google.com/document/d/1l-tcXkaM9hbKzKwgyy6ejOuuMtdKp-De8IrZfMHRVCM/edit) For live support, contact us on [Telegram](https://t.me/eaglenetworkapp). Good luck and happy validating!