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docs: add choosing a rep page (#43)
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mistakia authored Jun 25, 2021
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23 changes: 3 additions & 20 deletions docs/getting-started-users/basics.md
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Expand Up @@ -16,32 +16,15 @@ At some point, Nano's protocol will mature, but it is never done. Currently, the

As it is with physical money, digital money needs to be secured. If left unprotected or handled carelessly, it can be lost, stolen, or destroyed.

Nano can provide very high levels of security if used correctly. Learn how you can [secure your account](/getting-started-users/storing/basics).
Nano can provide very high levels of security if used correctly. Learn how you can [secure your account](/getting-started-users/storing/basics), the network, and its value.

## Securing the network

Nano's network is secured by its holders through nodes that cast votes on behalf of them. Therefore, anyone in possession of Nano is responsible for safeguarding their voting weight and maintaining the network's security.

Nano holders can run nodes to cast votes or they can delegate their voting weight to someone else who is running a node. They can re-delegate their voting weight at any time. Delegating your voting weight has no impact on your funds, as you remain in full control of them and can use them as you normally would.
Said another way, the security of the network relies on a shared understanding and commitment to maintaining decentralization and self-sovereignty based on a shared interest of maintaining the value of the network.

Delegating voting weight should not be done lightly as it is the main thing securing and controlling the network.

#### How do I change my Nano representative?

You broadcast a change rep operation to the network for a given Nano account. This can be done via most wallet applications.

<small>_Note: If you are not self-custodying Nano, then that Nano and its voting weight is not in an account you control. It is not advised to use exchanges for long-term storage nor is it good for network security to allow exchanges to accumulate a large portion of the voting weight._</small>

#### Where can I find a good representative?

Do not randomly select a representative, you should know the maintainer and why they are running a node/representative. Additionally, a good choice should have:

- A high uptime
- Below 1 % of total voting weight
- Not newly created, the older the better
- Active & known community member

If you don’t know any node maintainers, <a href="https://mynano.ninja/" target="_blank">My Nano Ninja</a> or <a href="https://nanocharts.info/need-a-representative" target="_blank">nanocharts.info</a> are good starting points. Try to select a node operator who is known and has a good reputation in the [community](/community).
Learn how to do your part in keeping the [network secure](/getting-started-users/choosing-a-representative).

## Privacy

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40 changes: 40 additions & 0 deletions docs/getting-started-users/choosing-a-representative.md
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---
title: Choosing a Representative
description: How to choose a representative and its importance
tags: nano, representative, choosing, selection, voting, weight
---

# Choosing a Representative

Nano holders can run their own nodes to cast votes or they can delegate their voting weight to someone else who is running a node. They can re-delegate their voting weight at any time. Delegating your voting weight has no impact on your funds, as you remain in full control of them and can use them as you normally would.

Delegating voting weight should not be done lightly as it is the main thing securing and controlling the network.

Given that running a voting node takes commitment, knowledge/skill, and has a time/resource cost associated with it, the most suitable option for most people will be to delegate their voting weight to another trusted operator.

### Importance of self-custody

If you are not self-custodying Nano, then that Nano and its voting weight is not in an account you control. It is not advised to use exchanges for long-term storage for the following reasons:

- limits decentralization and consequently the value of the network
- exposure to unnecessary risk
- provides liquidity for shorting

The value of Nano's network comes from its ability to be decentralized and self-sovereign. Custodians that behave in a way that puts that at risk should be avoided.

### How do I change my Nano representative?

You broadcast a change rep operation to the network for a given Nano account. This can be done via most self-custody wallet applications (Natrium, Nault, etc).

### Where can I find a good representative?

Avoid randomly select a representative. Ideally, you should know the maintainer and why they are running a node/representative. Mainly, you should understand their commitment and motivations.

To mitigate trust, a good choice should have:

- Below 1 % of total voting weight (very important)
- Not newly created, the older the better
- Active & known community member
- A high uptime

If you don’t know any node maintainers, <a href="https://mynano.ninja/" target="_blank">My Nano Ninja</a> or <a href="https://nanocharts.info/need-a-representative" target="_blank">nanocharts.info</a> are good starting points. Try to select a node operator who is known and has a good reputation in the [community](/community).
50 changes: 27 additions & 23 deletions docs/getting-started-users/storing/basics.md
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Expand Up @@ -4,11 +4,35 @@ description: How to use and store Nano
tags: nano, wallet, crypto, custody, cold, seed, address, security
---

## Overview
# Storing

Absolute security does not exist. There are only degrees of security, and those degrees come at a cost (in time, accessibility, convenience, etc).
It's important to understand the difference between self-custody and custodial as it has major implications for yourself and the network.

Thus, no single approach to storing Nano will be ideal for all scenarios. First, it is important to understand a few concepts
## Self-custody vs Custodial

You can store and control Nano directly (self-custody) or you can give it to another entity (custodian) to control it for you.

The decision is mostly one of responsibility and control with implications for the security and value of the network.

With self-custody, you have full control and with it comes full responsibility. Whereas with custodial services, you have limited control and limited responsibility.

#### Custodial Implications

- **trust:** that your funds are secured, insured, available, not given away
- **risk:** higher risk exposure and attack surface
- **privacy / kyc:** in some cases, you may relinquish control over your identity, transaction history, etc
- **security of funds:** custodians are prime targets for theft
- **accessibility:** custodial services may experience downtime
- **network security / control:** lose control over your nano voting weight and how its delegated
- **network value:** leaving funds on an exchange may contribute to centralization which lowers the value of the network. Additionally, it provides liquidity for shorting.

<small>_Note: over time, adoption of approaches like <a href="https://nanojson.medium.com/how-to-use-nano-multisig-33c8865ef8b1" target="_blank">multi-signature</a> can allow for a blend between self-custody and custodial control over a nano account_</small>

## Self-custody

Determining the right self-custody approach depends on how you intend to use it. Thus, no single approach to storing Nano will be ideal for all scenarios.

First, it is important to understand a few concepts

### What is an account?

Expand Down Expand Up @@ -48,26 +72,6 @@ It is important to carefully choose the wallet you use, as it has your secret ke

Before you begin storing and using Nano, understand these <a href="/getting-started-users/basics">basic</a> facts.

## Self-custody vs Custodial

You can store and control Nano directly (self-custody) or you can give it to another entity (custodian) to control it for you.

The decision is mostly one of responsibility and control. With self-custody, you have full control and with it comes full responsibility. Whereas with custodial services, you have limited control and limited responsibility.

#### Custodial Implications

- **trust:** that your funds are secured, insured, available, not given away
- **privacy / kyc:** in some cases, you may relinquish control over your identity, transaction history, etc
- **security of funds:** custodians are prime targets for theft
- **accessibility:** custodial services may experience downtime
- **network security / control:** lose control over your nano voting weight and how its delegated

<small>_Note: over time, adoption of approaches like <a href="https://nanojson.medium.com/how-to-use-nano-multisig-33c8865ef8b1" target="_blank">multi-signature</a> can allow for a blend between self-custody and custodial control over a nano account_</small>

## Self-custody options

Determining the right self-custody approach depends on how you intend to use it.

#### Considerations

- amount of value
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3 changes: 3 additions & 0 deletions src/views/components/menu/menu.js
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Expand Up @@ -42,6 +42,9 @@ export default class Menu extends React.Component {
<Link to='/getting-started-users/basics'>Basics</Link>
<Link to='/getting-started-users/storing/basics'>Storing</Link>
<Link to='/getting-started-users/acquiring'>Acquiring</Link>
<Link to='/getting-started-users/choosing-a-representative'>
Choosing a Rep
</Link>
<Link to='/getting-started-users/using'>Using</Link>
<Link to='/getting-started-users/storing/setup'>
Account Setup
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