Protecting your keys

Validator Keys are very sensitive:

  • if you lose them and your node crashes irreparably (i.e. you delete the virtual machine, your VPS provider deletes/loses it), you lose access to that node, you won't be able to bring it back up online and will thus stop earning money with it

  • if someone steals them and maliciously uses them in the Elrond network, they can engage in bad behavior such as double-signing, produce bad blocks, inject fake transactions, mint new coins etc - all of those actions are slashable, meaning you can lose your EGLD stake - all 2 500!

Wallet Keys are extremely sensitive because:‌

  • if you lose the keys, you can't recover your stake or claim your rewards -> you lose all the money

  • if someone steals your keys, they can send an unstake transaction from it and claim the EGLD -> the bad guys steal your money

‌ How to protect them:‌

  • make multiple safe backups of the private keys & files

    • paper

    • hardware

    • encrypted physical storage

    • distributed cloud storage, etc

Wallet Keys are not required on the Node, store them somewhere else.

Secure your Elrond node

  • no ports should open in the firewall

  • don't run the node as root

  • use encryption, all other measures