Welcome to NomBlocks.io!
NomBlocks.io is a team of blockchain enthusiasts with combined experience in business development, financial management, network security and system administration.
We are dedicated to the development and security of the Onomy protocol.
We run a highly secure and reliable validator node using enterprise-grade infrastructure to ensure maximum efficiency and security.
Staking tokens is a key feature of proof-of-stake (POS) networks that is needed to keep the blockchain network secure.
By delegating a portion of your Onomy tokens ($NOM) to a validator, you participate in securing the Onomy blockchain.
In return, validators and their delegators receive staking incentives according to the Onomy Documentation.
$NOM is the native coin that is that underpins the Onomy ecosystem and is primarily distributed through a Bonding Curve Offering (BCO). In short, bondingNOM (bNOM) tokens can be purchased on the Ethereum network then exchanged 1:1 for NOM on the Onomy network.
You can learn more about Onomy, NOM and the BCO here:
We are using dedicated Dell and HP servers with industry standard high-speed 10Gb internet connectivity that runs in our datacenter in Okinawa, Japan.
We take security very seriously. We employ a sentry node architecture to secure the validator node and keep our systems up-to-date with the latest firmware and software updates.
We are one of the founding nodes of the X-Chain Validators Alliance and Onomy Validators Guild, and are delegators of our node. We are committed to the long term development and security of the Onomy Protocol and ecosystem.
Our infrastructure is continuously being monitored by an automated system. Our responsible personnel receives notifications of any system or network anomalies.
We are one of the founding members of the X-Chain Validators Alliance and the Onomy Validators Guild
The XCVA is a group of independent validator node operators that collaborate and share their years of knowledge of technical experience to help ensure maximum uptime and security in line with industry best practices.
Being independent node operators located in Asia, Scandinavia and the U.S., our goal is to promote cooperative development and decentralization in the blockchain technology space.
Members of the XCVA:
The OVG is a group of validators that work together to maintain a high standard in operational performance and sustainability for the betterment of the Onomy Protocol.
NomBlocks.io has been participating in node operation and block validation of the Onomy Protocol since the initial and subsequent iterations of the testnet. We are dedicated to the ongoing development of Onomy and simultaneously run both testnet and mainnet nodes together with the associated Gravity bridge to the Ethereum network.
Frequently Asked Questions
Proof-of-stake is a type of consensus mechanism that is used by blockchain networks where validator nodes are responsible for checking and confirming blocks of cryptocurrency transactions.
Validators are responsible for keeping track of all network transactions, ongoing checks for valid and honest cryptocurrency transactions to be committed as blocks in the blockchain, thus participating in the creation and maintenance of a reliable and secure distributed ledger of transactions.
In POS consensus networks, validators are required to delegate tokens they own (self-bonded delegation) to act as “stake” and run specialized servers and hardware.
Validators receive rewards with newly “minted” tokens for dedicating their network bandwidth and computing power to verify and validate honest transactions in the blockchain.
Validators may also be punished for failure of their duties - a portion of their self-bonded delegation gets “slashed” if they allow false or incorrect transactions to go through, or if they fail to validate blocks within a specified amount of time (e.g. hardware failure, network downtime)
Validators are therefore incentivized to be good actors in securing the blockchain.
The weight of validators is determined by the amount of staking tokens (NOMs) that are bonded as collateral. These tokens can be self-delegated by the validator or delegated to the validator by other NOM holders.
Delegators are holders of NOM who would like to participate in securing the blockchain network by delegating their NOM to a validator for bonding, without needing to run a validator themselves.
The delegated (“staked”) NOM is locked for a 21 day cool-down period.
Delegators receive NOM rewards that are part of the validator’s revenue in exchange. The validator takes a pre-set commission for their services that helps to pay for the costs of running specialized hardware and network bandwidth costs.
You can undelegate whenever you want but there is a cool-down period of 21 days before your delegated NOM becomes unbonded. After that you can withdraw your NOMs back to your wallet.
Your wallet belongs to you is secured by a private key that you access with the mnemonic secret words. You must ensure that you keep them safe and never disclose them to anyone.
Your delegated NOM are owned by you, and you can always undelegate your staked NOM even when any validator stops working or becomes ‘jailed’ for some reason.
NomBlocks.io is a team of blockchain enthusiasts with combined experience in business development, financial management, network security and system administration.
