How to become a bittensor validator?

Could you kindly elaborate on the process of becoming a Bittensor validator? I'm particularly interested in understanding the prerequisites, the steps involved, and any additional requirements or considerations that one might need to take into account. Could you also highlight any potential challenges or obstacles that might arise during this process? I'm keen to gain a comprehensive understanding of the entire journey towards becoming a validator in the Bittensor ecosystem. Thank you for your assistance.