Network of Miners

Miners are the data providers of Berry Data

Data submission is done through a competitive process where miners respond to PoW challenges and the winners get to submit data to Berry’s on-chain data feed. PoW provides an excellent source of sybil resistant randomness to Berry’s smart contracts as well as provides an ideal system for token distribution.

Staking

Miners have to stake 1,000 BRY tokens to be able to mine. Staking allows for economic penalties to miners submitting incorrect values. If a miner wants to withdraw his stake, he can request a withdrawal at any time. The miner’s tokens are then being locked for 7 days in order to wait for potential disputes, at which point he can unlock his tokens for transfer.

Deposit & Rewarding System

In addition to the security provided by the PoW process, Berry's main layer of security comes through a deposit of BRY that acts as a deposit or stake requirement in order for miners to participate in the PoW. The miners risk losing this stake if they submit data that is successfully disputed by BRY holders.