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juni 13, 2023

How to choose Polkadot validators

Learn how to make informed decisions on selecting Polkadot validators, taking into account key factors like performance, security, and reputation for optimal staking rewards.

How to choose Polkadot validator

As a Polkadot (DOT) token holder, one of the most crucial decisions you'll face is selecting the right validators to nominate. Validators play a pivotal role in the network's security, transaction validation, and overall performance. Choosing the wrong validator can have serious consequences, including slashes to your staked DOT. In this guide, we will walk you through the essential factors to consider when selecting Polkadot validators, ensuring you make informed decisions that align with your staking goals. Read our guide on how to view all Polkadot validators if you don't know how to do so yet.

Polkadot staking dashboard
  1. Performance and Uptime:

    Reliability and consistent performance are key indicators of a trustworthy validator. Look for validators with a high uptime record, indicating that they are actively online and participating in the network's consensus process. Validators with a strong track record of producing blocks and maintaining a high performance score are more likely to contribute to the security and stability of the network.
  2. Reputation and Experience:

    Consider the reputation and experience of validators within the Polkadot ecosystem. Validators with a solid track record and positive community feedback are more likely to be reliable and trusted. Look for validators that actively engage with the community, contribute to discussions, and provide educational resources. A reputable validator will keep you informed about network upgrades, changes, and any potential risks.
  3. Governance Participation:

    Validators who actively participate in governance demonstrate a commitment to the network's development and improvement. Engaged validators vote on proposals, contribute to decision-making processes, and play an active role in shaping the future of Polkadot. Validators who actively participate in governance activities are more likely to have a long-term vision for the network's success.

Consequences of choosing the wrong validator

Selecting the wrong validator can have significant consequences, including the possibility of slashes to your staked DOT. Slashing occurs when a validator misbehaves or fails to follow the network's rules, resulting in a portion of their stake and the stake of their nominators being slashed. This can lead to a reduction in your staked DOT and potential loss of rewards. It is crucial to choose validators with a strong track record and commitment to following the network's rules to minimize the risk of slashing.

Bonding funds and nominating validators

To learn how to bond your funds and nominate validators, please read our article about how to do so here.

Alternative: Staking Pools

Opting to stake your Polkadot (DOT) tokens through a pool instead of individually nominating validators can offers several advantages. Staking pools provide a hassle-free and convenient way for DOT holders to participate in staking without the need for in-depth technical knowledge or managing individual validators. By joining a reputable staking pool like DecentraDOT, you benefit from the collective expertise and experience of the pool's validators. Pool participants can take advantage of the pool's optimized validator selection strategy, which aims to maximize staking rewards by nominating the top-performing validators. This way, you can enjoy the benefits of staking, earn passive income on your DOT, and actively contribute to the growth of the Polkadot network while leaving the complexities of validator management and nominations to the trusted pool operators.

Want to learn how to join a staking pool? Read our article about how to do so here.

Arthur Hoeke
Arthur Hoeke
Co-Founder & CEO
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