Authority Nodes

Papyrus Network is operated by Authority Nodes, which provide their hardware capacities to run Papyrus Network software, which implements Papyrus Network protocol. Authority Nodes are operated by identified business entities and are elected by other Authority Nodes according to established network governance model (see http://docs.papyrus.network/en/latest/doc/network_architecture.html for more details).

Papyrus Network protocol allows up to 47 Authority Nodes to be a part of the network.

In exchange for maintaining network operations Authority Nodes get mining rewards equal to 1.5*K PPR tokens per block, where K = {AMOUNT OF AUTHORITY NODES}/47. This formula ensures that existing Authority Nodes will keep receiving same amount of daily/monthly rewards with the growth of amount of Authority Nodes in the network. It fact, Authority Nodes are incentivised to make network more decentralised and invite new nodes to the network without losing own rewards.

PPR token is a native token of Papyrus Network required to allocate network resources to execute transactions. There are 1 000 000 000 PPR tokens distributed at the genesis block, and according to mining rewards schedule with 1 second block interval annual inflation is limited with a maximum amount of new tokens equal to (60 blocks per minute)*60*24*365*1.5*(47/47)= 47 304 000 PPR, ie ~ 4.7% of total emission.

Mining rewards are subject to change only based on community voting (see Governance documentation).

Initially Papyrus Network mainnet is launched with 5 Authority Nodes chosen by Papyrus, few of them will be initially operated by Papyrus.

After the launch Authority Nodes election procedures are activated, network governance becomes decentralised and existing Authority Nodes are able to elect new Authority Nodes. To make proper decisions as Authority Node owner Papyrus will audit each current and potential node owner entity’s mission, executive leadership, net annual revenue, number of full-time employees, years in business, organizational structure, and the industry they are a part of, to ensure that existing network Authority Nodes are reliable enough.

Following network launch Papyrus team will be pursuing full network decentralisation, where all Authority Nodes will be operated by other organisations without Papyrus involvement. To achieve that Papyrus will be removing own nodes from the network, when new Authority Nodes are joining it.

It is strongly recommended in the interest of network reliability that all existing Authority Nodes do a regular audit of current and potential Authority Node owner entity’s mission, executive leadership, net annual revenue, number of full-time employees, years in business, organizational structure, and the industry they are a part of. In case of doubt in other Authority Node reliability, Authority Nodes should use BIOS Contract to set a vote on adding suspicious Nodes to the Blacklist. Papyrus Wallet and Papyrus Explorer support necessary functionality.

If you would like to run an Authority Node and receive mining rewards in Papyrus Network, you can apply here: https://papyrusglobal.typeform.com/to/Va9wX5

Instruction on how to set up a node can be found here: https://github.com/papyrusglobal/papyrus

How to deploy Authority Node

Prerequisites You need have Docker and Docker Compose installed.

To start a node, run the following docker command. It will download the image and start it. Optionally, you may add keys such as –rpc or –ws (see the ‘geth’ command line options) to the end of the command.

docker run -d --name=my-node -p 33309:33309 -p 33309:33309/udp -v my-node-volume:/root/.ethereum --restart unless-stopped papyrusglobal/geth-papyrus:latest --port 33309 --ethstats='my-node-public-name:ante [email protected]:3800'

Additionally, if you are authority node: You will then need to copy your <account.json> to the container where node runs.

docker cp account.json my-node:/root/.ethereum/keystore/
docker exec -it my-node ./console.sh 'personal.unlockAccount(eth.accounts[0], "<<<passphrase>>>", 0)'
docker exec -it my-node ./console.sh 'miner.setEtherbase(eth.accounts[0]); miner.start()'

Expected Authority Node rewards:

Expected monthly PPR reward for active Authority Node is equal to 60*60*24*30*(K/47)*(1.5/K) = ~82,723 PPR