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Becoming a delegate is more like running a project where you’ll need to write proposals, you’ll need coding and scripting skills, you’ll need to provide certain level of security, you’ll need to market and gain users (votes) etc.

A common scenario in DPOS systems, delegates create proposals for why you should vote for them, example Ark Delegates, where most delegate candidates propose profit sharing structure in order to gain votes.

This is essentially becoming a ‘delegate’ in ICON, and delegates are chosen (or removed) through voting in the Representation channels.

Now for the sake of this discussion, only Charlie and Roger are in the Representation Channel, and 2infiniti wants to become a delegate.

Instead, ICON uses a Delegated Proof of Stake system.

Let’s first take a brief look at what masternodes are, Masternodes are full nodes setup to keep the network healthy and serve particular functions within the network.

A delegate is simply a node (user) tasked to verify transactions on the network.

Operational policies are then proposed and selected by voting within the channel (this will be similar to electoral college, allocation of number of votes are in proportion to community size and transaction scale, this reinforces the status of relatively small communities).

Since Charlie and Roger are never in agreement, but w more votes in Roger’s hands, my application is vetoed and I then stay a regular citizen node in this Fast Cryptocurrency Payment DAPP.

Since most people aren’t exactly trying to figure out how the system works, but the economic incentives behind this topic, so let’s cut to the chase, If you want exact numbers, you can’t today.

Today I’m going to explain in detail what DPOS is and how it fits into the puzzle of ICON’s incentive system.

I will try to keep this article as ELI5 as possible, feel free to open up a discussion at the channel for detailed explanation.




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