The backbone of the SPS network – Everything you need to know about the $LICENSE token

Greetings Splinterlovers 💛

In my previous posts, we have seen how the Splinterlands economy works and its main tokens (SPS, GLINT, DEC, and VOUCHER), which make up what I would call an economic quadrangle. now it's time to talk about the $LICENSE token, which is also a key piece for the entire ecosystem, since it is through these tokens that the SPS network operates and where each transaction is recorded. Thanks to these tokens, we can create what are called "Validator Nodes" that secure the SPS network.

Generally, validator nodes on any network require money to maintain, which translates into a significant investment to support it. However, with the $LICENSE token, the creators have narrowed the gap between creating a "Validator Node" and the size of the investment required. So even if you have zero knowledge of development, nodes, network maintenance, etc., you can create a node to secure and maintain the network.

In this post, we're going to break down everything you need to know about the $LICENSE token, so stick around until the end, because you'll learn something incredible, especially how to earn passive income with this token:

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What is the $LICENSE token and what is it used for?

Let's use a slightly more dynamic example or definition so that you can understand me and I don't have to use so much technical jargon, as I know that many of you are not familiar with these topics. But trust me, I'll make it very simple for you, so let's get started:

• What is the $LICENSE token? Imagine that each $LICENSE token is like a ticket that allows you to join the team of "Validators" who secure the SPS network. So, if you have a ticket, you can participate and/or work with them. It's that simple. A $LICENSE token opens the door for you to work on maintaining and securing the SPS (Splintershards) network, regardless of the size of your investment or whether you are a whale or someone very influential in the network. None of that matters. If you have it, you can do it, and that is precisely what this token is: a gateway to working and creating a validator node.

• What is it for? So, with this clear, the $LICENSE token serves and/or functions to maintain and secure the network, as I mentioned earlier, since with it you have the possibility of running a "Validator Node." That's all there is to it; this is its only function. However, it is not just any function, since without these nodes, the network would not exist and we would basically have nowhere to record every transaction and interaction that takes place on the blockchain. Therefore, its importance is as vital as the ecosystem itself as a whole and the entire economy within it.

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How can you obtain a $LICENSE token and how can you make it work?

There are currently two ways to obtain a $LICENSE token. I will break down each one so that you know where to go. In addition, if you want to purchase one, you will be able to see which one is right for you and which one is not. So, the two ways to obtain them are as follows:

• The game's official website: This is the official way to obtain a $LICENSE token. Its price is $5,000 paid in SPS tokens, and 80% of the total amount is burned, which helps to reduce the supply of SPS. This helps the game's economy and, of course, SPS directly, which would help the entire ecosystem.

• At Tribaldex: The second and clearly most economical way to obtain it is to buy the token on "Tribaldex," an exchange that operates on the "Hive" network. Here, it costs $268 at the time of writing this post. Clearly, this is the best option. Of course, it does not help the economy, but the important thing is to run the node, and based on this cost, you can already make calculations.

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How to operate the Validator Node?

To run a node and earn rewards in SPS, there are two main methods. Something I forgot to mention is that by running a node, we can earn rewards in the game's governance token, which is SPS. So, by maintaining and securing the network, we will literally get paid, although there are some details to keep in mind. but I could cover that in another post. I'll mention it anyway, and if you want to know more so I can write a more complete post about it, leave a comment. In the meantime, let's move on to the two methods for running a node:

Downloading the official Splinterlands validator node software:

• Purchase License: In this case, you must purchase a $LICENCE token in the manner I explained above.

• Configuring the Node: Once you have the license, the next step is to download the official Splinterlands validator software, which needs to be installed on a server with the minimum CPU, RAM, and storage requirements in order to synchronize and validate it with the blockchain.

• License Activation: The next step is to link your license to the node, which is done through your Splinterlands account on the official website, where you will register it so that the network recognizes it as an active validator.

• All set: Once you have done the above, you are ready to validate transactions and receive rewards. However, as I said, it is not that easy. You need the community that maintains SPS in Staking to vote for your node in order to boost your rewards. The more SPS those who vote for you have, the more rewards you will earn.

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Processing through third-party services

Here, the process is very similar. You must purchase the $LICENSE token, but instead of installing software yourself, you will delegate and/or stake your license on platforms such as "Peakmonsters or MonsterMarket" so that they can manage the node for you. The third party will then receive the node rewards and distribute them to you automatically, retaining a percentage for the node management service.

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Conclusion

With this, we can see that the $LICENSE token is also a key part of the Splinterlands economy. In fact, thanks to this token, the network can be maintained by many active nodes that are validating each of the transactions carried out on the chain day and night. So, with this post, I conclude the series covering the main tokens that make up the economy of the Splinterlands ecosystem.

Remember that if you have any questions about anything specific, don't hesitate to ask. I may also write another post showing some calculations of how much you can earn by running a validator node. It would be interesting, as it's another way to earn money completely passively.