Persistence Validators: Securing the future of next-gen DeFi

The proof of stake mechanism is gaining wide acceptance in the blockchain space these days. It might seem a simple term officially when compared to the energy-consuming proof of work mechanism but it is a process that has a lot of parties playing a part in proceedings. These are the validators and delegators. Are these guys different from the miners in the proof of work mechanism? Of what use is Persistence acquiring more validators to ensue security of its network? These and more we will be finding out in this expository article but first, let’s see what the proof of work is and why the proof of stake is getting attention. We’d then go through Persistence’s A-List validators.

Proof of work

Just as the name implies, you have to prove that you have done the work. Here, computations are required to proceed with certain processes thus reducing the ease with which spammers or malicious attackers can affect a certain process. Introduced in 2009 for Bitcoin, the first cryptocurrency and from there became the basis for a lot of cryptocurrencies. To understand better, you need to see blockchain as a series of data held in blocks and bound by cryptography. New blocks are added to the growing chain but it doesn’t just happen. A hash is created and the set of miners race to solve the hash with the winner being the user to add the next block to the growing chain. This process however is energy consuming and although the winner of the race gets rewarded, most of the rewards go into paying for power. This brings us to the proof of stake.

Proof of stake

With the proof of stake, we are seeking the same outcome; the user to validate the next block. There is a twist, however. There is no rush! There is no race to solve a hash. The selection is done by a completely different mechanism. This consensus mechanism tries to pick the winner instead based on the total holdings the user has in the associated cryptocurrency/blockchain. User A has 2 coins staked. User B has 20 coins staked. User B therefore, has 10 times more awards than User A for staking the coins to secure the mainnet. Having known these, we can then try to see what these validators and deleigators are and what their roles are.

Validators

Validators are actually important for consensus processes. A process that guarantees a very stable operation within a blockchain system. A validator is a node that takes part in verification and consensus processes within a blockchain. For a block to get verified or undergo the consensus process, the validator would play a vital role. These nodes (of validators) would then decide whether they would agree to a proposed block by voting. This voting process is largely based on their voting power. Yes! Voting power. Now let’s look at this. There are many nodes in the setup and all of them can be validated if they reserve their stakes but there is a twist. It is not possible. There is a fixed number of validators and all nodes cannot be validated. There, however, is a process of selection. In a scenario where there is a maximum number of nodes making up a validator, the selection process ensues to make a new node the validator. This new node will have to deposit a larger stake than the current validator with the smallest stake. That smallest node will then be removed as a validator and the new node becomes a validator.

Delegators

Delegators on the other hand are nodes too but they take part in the consensus process in a much different way. What they basically do is to delegate a stake to a specific value data. Any node within the system can delegate their stake to a specific value data.

Persistence Validators

The Persistence network is not left out in the whole furor regarding the PoS system. A lot of top profile validators keep joining the network in moves that will help secure the network. You cannot deny the fact that most of the validators on the Persistence network are A-list validators. The growth of the ecosystem has been unprecedented, leaving people in awe. This growth needs a corresponding degree of trust and security and it is now certain why they have tried to maintain top-level validators. Here are some of the top level validators helping to secure the Persistence Mainnet.

There are 83 in total. 50 of them are currently.

  1. Megala Ventures: A leading institutional investor of blockchain and distributed ledger technologies in Southeast Asia.
  2. Smart Stake. A transparent, professional, and feature rich staking service provider
  3. Figment: A secure staking Infrastructure where you can stake your tokens to earn rewards
  4. Simply Staking: Blockchain Infrastructure branch focusing on privacy and security infrastructure provisioning in a truly decentralised way.
  5. MyContainer.com: A secure platform
  6. Turtleship: a trusted Proof-of-Stake infrastructure provider and validator to comfortably stake your coins and earn rewards with Persistence.
  7. Witval: a trusted Proof-of-Stake infrastructure provider and validator
  8. Cosmostation: Cosmos ATOM validator and ecosystem provider based in Seoul
  9. Nonce Classic: a trusted Proof-of-Stake infrastructure provider and validator
  10. StakeLabs: a trusted Proof-of-Stake infrastructure provider and validator
  11. Imperator.co: https://imperator.co/
  12. Foundation Node 1
  13. Stakin: https://stakin.com
  14. AC Validator 🚀: https://www.acvalidator.net
  15. acheron-xprt-mainnet: acherontrading.com
  16. StakeHub: http://stakehub.net
  17. HashQuark: https://www.hashquark.io/
  18. Amaranthine: https://amaranthine.network
  19. StakeWithUs: https://stakewith.us
  20. Staking4All: https://www.staking4all.org
  21. Citadel.one: https://citadel.one
  22. KalpaTech: https://kalpatech.co
  23. IRISnet-Bianjie: https://irisnet.org
  24. Foundation Node 3:
  25. DSRV: https://dsrvlabs.com
  26. POSTHUMAN ∞ DVS: https://github.com/Distributed-Validators-Synctems
  27. PersistenceHODL: https://twitter.com/PersistenceHODL
  28. Figment Fund: https://figment.io
  29. GPooL.io: https://GPooL.io
  30. P2P.ORG — P2P Validator: https://p2p.org
  31. Foundation Node 5
  32. Staky.io: https://staky.io
  33. DokiaCapital: https://staking.dokia.cloud
  34. BridgeTower: https://www.bridgetowercapital.com
  35. Tavis Digital: http://www.tavis-digital.com
  36. Chorus One: https://chorus.one
  37. SOLAR Validator: https://validator.solar
  38. PrithviDevs:
  39. SG-1: https://sg-1.online
  40. Foundation Node 2
  41. 01no.de: https://01node.com
  42. Foundation Node 4
  43. InfStones: https://infstones.com
  44. Everstake: https://everstake.one
  45. 🐠stake.fish: https://stake.fish
  46. Woodstock Fund: www.woodstockfund.com
  47. Band Protocol: https://bandprotocol.com
  48. HuobiPool: https//www.hpt.com
  49. Psycho Node: https://twitter.com/AltcoinPsycho
  50. AUDIT.one: https://audit.one

About Persistence

Persistence is an interoperable protocol that is built to power next-gen financial products. With persistence, you are looking at a technological stack that gives us the basic infrastructure with which the realms of traditional finance and DeFi can be bridged, effectively and efficiently. This is a project that would help provide innovative solutions to bring about expansions in the decentralized finance (DeFi) and non fungible token (NFT) sectors. Persistence is committed to an everyday resilience to provide users with cutting-edge, state-of-the-art products that would allow us explore the DeFi and NFT space. Some of the products of Persistence include Audit.One (a staking as a service solution and validator), pSTAKE (a liquid staking program that would help unlock the liquidity of state assets by providing users with staked representatives of their staked assets with which they can use to get more gains in the DeFi space), Assetmantle (a framework for NFT marketplace especially looking at the trend that NFTs are making), pLend (a platform for lending stablecoins backed by real-world assets) among others still to come. Persistence is the future of DeFi and NFTs.

Contact

Website: https://www.persistence.one/

Telegram: https://t.me/PersistenceOneChat

Twitter: https://twitter.com/PersistenceOne

Official Blog: https://medium.com/persistence-blog

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