Koii Node: Potential 1000$ Passive Income Airdrop, Tier 1 Exchanges, Mainnet in Q2 2024

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17 Feb 2024

Koii Nodes

Nodes are the backbone of the Koii network. We are trying to build a global, decentralized network that will rival the current monopolies on computing power. By downloading the Koii Node, your laptop can also be a part of our global network that aims to revolutionalize and democratize the world, as a Task Node that run Web3 applications.By choosing to do so, on top of helping developers all kinds of projects, you also will gain rewards in the form of KOII tokens Alternatively, if you have a relatively powerful machine, you can convert it to become a K2 Validator which tracks the settlement layer.

Task Nodes

Task node operators run compute jobs called tasks to earn rewards. The best way to try out the task node is with the Koii Node

Task nodes serve as the fundamental infrastructure for executing Koii tasks, assuming a pivotal role in their successful implementation. Notably, these nodes are efficiently hosted on personal devices, ensuring widespread accessibility by virtually any user. An essential characteristic of task nodes is the incorporation of local databases, wherein crucial data is securely stored. Koii introduces a pioneering concept called database sharing, enabling task nodes to seamlessly synchronize and update their data at regular intervals. This mechanism not only fosters the overall system's coherence but also enhances its accuracy and reliability.

K2 Validators

The K2 Settlement Layer is the core of Koii's network. K2 Validators play a critical role in the consensus mechanism of Koii's blockchain network and contribute to the validation and verification of transactions, ensuring the integrity and security of the network.

Additionally, they are responsible for confirming the legitimacy and accuracy of tasks performed within the Koii ecosystem. These nodes validate the results generated by task nodes, guaranteeing the authenticity and reliability of the outcomes. Additionally, K2 Validators also participate in block creation and consensus formation, contributing to the decentralized governance and overall stability of the K2 settlement layer.

In addition to providing fast and secure micro-payments for Koii's compute economy, the K2 layer also provides a heartbeat to synchronize task nodes and the apps built on top of them.
Because of this important role, and the responsibility of securing the network, K2 Validators require significantly more powerful hardware, along with considerable collateral deposits to ensure security.

How to Run a Koii Node

What is the Koii Node?

A Koii Node is a very small computer program—about the same size as your favorite music player—that allows you to run compute jobs called tasks for people around the world. They pay you to rent the extra space, like Uber for your computer, but it stays on your desk at all times.

A task can be anything from hosting a website to cataloging information from the internet or processing lots of data. The possibilities are endless.
Let’s get started!

Register To Koii Node From Here:

https://www.koii.network/node?promo=A8F3F34678C4

Koii Node Referral Code: A8F3F34678C4

How do I run a node?

The installation process varies depending on your operating system:

Windows Download

If you have Windows, get this download. Some Windows computers have different settings, so you may see different warning messages after you download the file like “The publisher could not be verified. Are you sure you want to run this software?”

If it doesn’t give you the option to “Run Anyway,” you may need to click an arrow or “Learn More” to get that button. If you trust us, click “Run Anyway” then jump down to Time to Node.

Mac Download

If you own a Mac, whether it has an M1, M2, or Intel chip, get this download.
Once the file has been fully downloaded, open it. Your computer will warn you that you downloaded this file from the internet. If you trust us, click “Open Anyway.”
A small finder window will pop up. Drag the Koii Node icon on top of the Applications folder icon. Then you can double-click the Koii Node icon to open it.

Linux Download

There are many different Linux configurations, so we won’t get into the specifics here about how to download the node itself.

Time to Node!

A new window will open with a loading screen. After the node loads for the first time, it will look like this. To secure your node, you need to create a 6-digit PIN.

PIN & Secret Phrase

If you forget this PIN, you can access your node again by importing the key via its secret phrase.
After you create a secure 6-digit PIN (probably not 123456 or your birthday), write it down in a secure location and confirm the Access PIN. Accept the Terms of Service and click “Log in.”
Once your PIN is secured, we will need to create an account.
Name your account. This name can always be changed later in settings, so don’t worry too much about it.
Click “Create a New Account”
If you’ve already been through this flow and want to use an account or Koii Key you already have, you can import it here instead of using your secret phrase.

Funding your account

Now it’s time to fund your account with a few tokens so you can participate in the task network and earn just for lending your compute power.
If you want to back up your account now, you can (and we recommend it). But you can always do this later. Account backups use a 12-word secret phrase, just like an Ethereum wallet or a Koii key on Finnie.
CAUTION
Remember, secret phrases should always be written using a pen on paper and stored in a safe place. They should never be stored on an internet connected device like in a notes app, email, or photo. Anyone with access to this secret phrase has full control of your assets.

Free Tokens! (Only for a limited time)

If you’ve been part of the Koii community for a while, you might already have some KOII. If you do, click “copy” at the bottom of the pop-up. That will copy your node’s account address so you can send a few tokens from Finnie.
Right now, three tokens will be enough to run your first task and cover any transaction fees.
If you’re new and don’t have any KOII yet, welcome! We’re thrilled to have you. The “Get My Free Tokens” button will open a browser tab and take you to the KOII faucet. There you can get up to 16 tokens for proving you exist—verifying your email, Twitter, etc.
Verifying two methods will give you enough tokens to get started, but the more tokens you have the more you can earn, so verify all four!
After verifying each method, head back to the Node window. Click the refresh button to tell your node you’ve received the tokens.

Run your first task

After a few seconds, your node will show you the first task to run. To run a task, you must stake some tokens. Each task will have a minimum stake set by the creator.
These tokens serve as a promise to run the task properly. As long as your computer has the right specifications and you don’t alter the submissions, you should never have to worry about losing your stake. Requiring staking is a way to ensure malicious actors can’t disrupt the network.
On this screen, there is one task to run. You’ll see the name of this onboarding task, “I’m a Task. Free Tokens!” the creator address, and a staking entry.
So enter at least 2 tokens in the staking box, and click “Run Tasks.” The next screen is a quick confirmation.
As mentioned above, the reason to stake on a Task is to make sure everyone plays fairly. To make sure this works, there are three different rounds that each task completes in cycles:

Execute
Audit
Reward Distribution

You can learn more about how this works in the documentation here.
That said, if you participate in the execution stage of a task, you must remain staked until after the reward distribution for that round. So your stake will be locked for up to three rounds after you stop that task.
Once you’re ready, click “Confirm” and you’ll be running your first task!
After a few seconds, you’ll see the “My Node” page. This is where you can see all the tasks you are running at any time. If you want to find more tasks to run, check out “Available Tasks.”
For many tasks, all you have to do is enter the minimum stake amount (or more) in the staking box, then click the “Run Task” play button.
Some tasks will require configuring task settings, which includes things like a Spheron API token so your node can store files on IPFS, or an Ethereum key to bridge data between chains. If a task requires additional settings, the gear icon in the settings column will turn orange to let you know you need to configure those.
INFO
To get a Spheron Key, set it up in your Koii Node App, see tutorial. If you already have the key setup in the Koii App you can find it in settings.
You are all set to run your first task. Invite your friends to run a node so they can be part of the revolution - and referral codes are coming soon, so you can earn some tokens when they do!
Jump in the Koii Discord if you have any questions and learn more about writing your own tasks using the power of thousands of computers worldwide!

Rewards

When a Koii task is registered, the task registrant determines the amount of tokens that will be allocated to the bounty pool. Additionally, all task nodes participating in the task are required to stake a specific amount of tokens, as set by the task registrant.

Both the tokens in the bounty pool and the staking pool are locked during the task. After each epoch, nodes receive rewards based on their behavior. The distribution of these rewards is defined by the task creator through a distribution list.

By implementing this system, Koii incentivizes active participation and good behavior from task nodes. It ensures that nodes have a stake in the task's success and are motivated to contribute positively to the network.