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Watcher (OMG Foundation)
What Is a Watcher (OMG Foundation)?
A Watcher on OMG Foundation is a computer that observes the child chain and block producer and makes sure network transactions are correctly confirmed. It further ensures that child chains act according to network rules and do not tamper with transaction orders or withhold blocks. Any OMG Foundation user can become a watcher. The set of watchers on OMG Foundation is decentralized.
How Does OMG Network Work?
OMG Network is a layer-two scaling solution for Ethereum. It uses a proof-of-authority consensus mechanism. It batches Ethereum transactions and validates them on a child chain before sending them back to Ethereum for confirmation.
The Plasma Childchain architecture is used by OMG groups to execute transactions off-chain into and sends periodic root hash updates to the Ethereum mainnet. The watchers observe the validations on the child chain to ensure accurate transaction confirmations.
Who Can Become a Watcher (OMG Foundation)?
Any OMG Foundation user can operate a watcher. The watcher network is decentralized and ensures correct data submission to the Ethereum mainnet for final settlement.
How to Run a Watcher (OMG Foundation)?
To run a watcher on OMG Foundation, there are certain prerequisites:
Basic knowledge of Linux and blockchain technology
A laptop/PC, a Linux-based VPS or a bare-metal server
A fully synced Ethereum client
The Ethereum client synchronizes transactions on OMG with the Ethereum mainnet. According to the OMG Foundation, watchers have been tested on:
Ubuntu 16.04
Ubuntu 18.04
Alpine 3.11
macOS 11.0.0 (local usage only)
The minimum hardware requirements are as follows:
Storage: 8GB SSD
CPU: 1 CPU Core with at least 2.2 GHz
RAM: 4GB
Bandwidth: 20 Mbps
The costs of running a watcher are as follows:
A full Ethereum node (local or ETH provider)
VPS, bare-metal server, or local machine that matches the minimum hardware requirements
DevOps setup and maintenance fee
You can set up a watcher according to the following process:
Log in to your server.
Check the TCP ports.
Update the packages.
A local watcher should only be run for testing purposes and the OMG Foundation recommends using a VPS or a bare-metal server to increase uptime and reduce latency.
Human Keys Human Keys are cryptographic keys derived from what you are, what you know, or what you have. They are used to secure digital assets, protect privacy, and access the decentralized web. |
Open Finance (OpenFi) OpenFi, short for "Open Finance," is a financial framework that integrates traditional finance (TradFi) with decentralized finance (DeFi). |
Multiple Data Availability (MultiDA) This blockchain architecture uses more than one data availability (DA) service to ensure data redundancy. |