P2P.org is delighted to announce our strategic partnership as large-scale alpha-testers with Obol Network. This collaboration aligns us with a company that shares our vision for revolutionizing the decentralized staking landscape and driving the institutional adoption of ETH staking.
In this blog, we'll explore who Obol Network are, their groundbreaking contributions to Distributed Validator Technology (DVT), and how our united mission and values are redefining the standards for institutional Ethereum staking.
Our Collaboration on Mainnet Alpha Distributed Validators
Alongside Obol Network, we have been an integral part of a pivotal testing phase in the Ethereum staking community. Obol Network launched their Alpha phase in April this year, deploying the first set of Mainnet Distributed Validators initiated by the staking community. With their core team having laid the foundation in December 2022 by deploying the very first Mainnet DV, the participation since April has been nothing short of phenomenal. Over 45 organizations are now running Distributed Validators (DVs) on the Ethereum Mainnet in either solo or multi-org clusters.
Who is Obol Network?
The Obol Network is an ecosystem for trust-minimized staking that enables people to create, test, run & coordinate distributed validators, focusing on Ethereum staking solutions.
According to their website, their mission is to foster trust minimized staking through multi-operator validation. This will enable low-trust access to Ethereum staking, which can be used as a core building block in various Web3 products.
With their open-source ethos and commitment to public good, Obol is breaking the norm. Fee collections from Obol V1 will be funneled into retroactive public goods funding, embodying a regenerative circular economics model. In simple terms, Obol is about as trust-minimized as it gets, using advanced cryptography to eliminate the need to trust any single staking operator.
A Deep Dive into the Testing Structure
Our collaborative efforts have also extended into in-depth testing structures. Currently, we're actively involved in deploying distributed validator clusters on the Görli testnet, with varying node counts and scaling up to thousands of validators per cluster. These comprehensive tests assess various key metrics, including the effectiveness of validator duties, missed duties, and inclusion distances, among others. Additionally, the studies are focused on evaluating the operational cost efficiencies of running Distributed Validator clusters and the impact of MEV-boost on these configurations.
Obol Labs, the core research and development team for the Obol Network, is working closely with us and other participants to compile performance reports, making the data accessible for further insights. These collaborative research efforts are pivotal for understanding the cost per validator in different infrastructural setups and assessing the impact of DVT on enterprise validator profitability.
Through this extensive and rigorous testing, both P2P.org and Obol Network are gathering the critical data needed to deploy distributed validators on the Ethereum mainnet with complete confidence. We are committed to helping our partners optimize their infrastructure, better understand DV's capabilities, and share key performance insights with the broader community.
What is DVT?
So, what's all the fuss about Distributed Validator Technology? Traditional validator nodes in the Ethereum network present a critical weakness—they are all single points of failure. Obol DVs eliminate this Achilles heel by allowing multiple nodes to perform the duties of an Ethereum validator as a cluster. This innovation leads to an exceptional boost in resilience, fault tolerance, and—most importantly—security. To illustrate, each node within a DV cluster operates with a key share. Obol's DV middleware, Charon, collects the individual signatures from each node within a cluster and uses threshold signing to generate the full validator signature for attesting and producing blocks. For each cluster, as long as more than 66% of the nodes are live (i.e., 3 of 4, 5 of 7, etc.), the cluster will function normally. Key advantages of DVs include improving fault tolerance, since you can have some nodes down without the validator going offline, and improving security as the full private key never exists in one place, making it exceedingly difficult for attackers to compromise the system. DVT also allows for increased decentralization as operators can now collaborate in multi-operator validation.
Joint Mission and Values between P2P.org and Obol Network
As we transition into this partnership, we must note that our core values resonate deeply with Obol's principles. We both harbor a steadfast commitment to decentralized validation and trust minimization. Our shared focus on transparency, security, and regenerative economics makes this collaboration more than just a business arrangement—a unified vision for the future of Ethereum staking.
By converging our strengths in these areas, P2P.org and Obol Network are collectively accelerating the development and adoption of next-gen decentralized staking solutions.
As always, we pledge to uphold our core values, summarized by the acronym STATS:
Our top concern is safeguarding your staked resources and personal information. By utilizing a non-custodial staking model and fortified systems, we aim to provide unmatched security and operational excellence.
We're committed to being transparent in all our endeavors and governance choices. We consistently disclose essential financial details and project updates to keep our community well-informed.
Our goal is to amplify returns and value for our clientele. We apply our vast industry know-how to back thriving networks and make informed governance decisions.
We take great pride in our extensive understanding of the staking networks we support, underscored by a staking infrastructure with an average network uptime exceeding 99%.
We're staunch believers in the decentralizing power of blockchain technology, which we see as the cornerstone of the digital age. We act as your proxy within each network, advocating for your interests when you can't.
As we journey through this exciting chapter, we'd like to extend our heartfelt gratitude to our community for their unwavering support. Stay tuned for more updates on this synergistic partnership that promises to redefine what's possible in Ethereum staking.
Join us as we pioneer the future for a more decentralized future for everyone.
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<p>We're elated to unveil our collaboration with Chainflip, a pioneering protocol to reshape how value transfers occur between blockchains. As Chainflip's genesis validator, P2P.org enters the scene from the inception of the mainnet, bringing with us a legacy of exceptional security features and staking acumen to simplify institutional onboarding for staking solutions. <br></p><p>Chainflip, being a Substrate-based chain, aligns well with our extensive experience as a leading validator on Polkadot/Kusama for more than three years. This experience underscores our capability to fulfill Chainflip's vision as their genesis validator. We are poised to offer secure validator services to enhance the decentralization of the operator set further.<br></p><p>Embracing our vast experience across over fifty blockchains, we're geared to reinforce Chainflip's ambition for a holistic, decentralized Web3 landscape, bringing our unparalleled security features and staking expertise to the table, amplifying Chainflip's vision of a decentralized and composable Web3 ecosystem. <br></p><p><strong>About Chainflip</strong><br></p><p>Chainflip aims to revolutionize the crypto landscape by addressing the limitations of centralized exchanges, which have long dominated value transfers between different blockchains. Building upon the foundational AMM ideas popularized by Uniswap, Chainflip's protocol extends this to a multi-chain environment.<br></p><p>Chainflip is laser-focused on a mission that resonates with us at P2P.org: to offer not just an alternative but a superior option to centralized exchanges for cross-chain asset swaps. The goal is ambitious but highly achievable via a two-fold approach:<br></p><ol><li><strong>Develop the Best Cross-Chain DEX Technology:</strong> Chainflip is committed to building top-tier decentralized exchange technology with a user-centric focus.</li><li><strong>Forge Partnerships with Aligned Entities:</strong> A core part of Chainflip's strategy is collaborating with entities that share their vision, as these partnerships will expedite the adoption of cross-chain solutions.<br></li></ol><p>The ethos of Chainflip aligns beautifully with our own mission at P2P.org—creating a decentralized open financial system for all. We're taking a leap towards realizing this vision by merging Chainflip's groundbreaking cross-chain technology with our robust infrastructure and staking services.<br></p><p>This partnership is an important milestone for both Chainflip and P2P.org as we move toward a future that eliminates the barriers to asset transfer between blockchains, thereby democratizing access to various financial services in a secure, non-custodial manner.<br></p><p><strong>Chainflip's technology is designed to be:</strong><br></p><ul><li><strong>Wallet and Chain Agnostic:</strong> No specific wallet or blockchain requirements.</li><li><strong>Non-Intrusive:</strong> This does not require native chains to make underlying consensus or infrastructure changes.</li><li><strong>Gas-Efficient: </strong>Off-chain computations to minimize on-chain costs.</li><li><strong>No 'Wrapped' or Synthetic Assets:</strong> Transparent transactions without any post-swap exposure.</li><li><strong>Developer-Friendly:</strong> Easily integrated into other products via simple RPC calls or the Chainflip SDK.<br></li></ul><p><strong>Security and Non-Custodial Staking</strong><br></p><p>We share Chainflip's commitment to decentralization and security. Our integration ensures that staking through Chainflip will uphold our stringent security measures, including 100% slashing protection and multiple levels of fail-safes. In the unlikely event that P2P.org faces any challenges, users will retain the ability to unstake their assets seamlessly, maintaining complete control over their digital assets.<br></p><p><strong>Unlocking New Possibilities</strong><br></p><p>This alliance aligns perfectly with Chainflip's ultimate goal of enabling programmatic swapping across all major blockchains. Together, we're making strides toward a future where users can easily, securely, and permissionlessly trade assets across multiple chains, breaking free from the constraints of centralized exchanges.<br></p><p>We are excited to contribute to this promising project and can't wait to see how this partnership evolves. Stay tuned for more updates and features as we gear up for Chainflip's network launch!</p>
<p>P2P.org is thrilled to extend our support for Vara Network, a L1-network built on the top of Gear Protocol. This step reflects our unwavering commitment to nurturing innovation within developer communities and facilitating easy and efficient access to decentralized technologies.</p><p><strong>Vara Network: Transforming Blockchain Development</strong></p><p>Vara Network is built on the top of Gear Protocol technology, a Substrate based smart contract platform which presents a familiar environment for developers, allowing them to create innovative dApps for all industries</p><p>Here are the key highlights of Vara Network:</p><ol><li><strong>Robust Operation and Scalability</strong>: Vara leverages Gear Protocol's technology stack and implements sharding to divide its network into smaller "shards." This approach significantly enhances network scalability as Vara continues to expand.</li><li><strong>Message Delay Functionality</strong>: Vara Network allows users to schedule and execute actions at specific times in the future. This capability proves invaluable for various applications, including decentralized finance (DeFi) and time-sensitive operations.</li><li><strong>Smart Contracts Powered by Substrate</strong>: Vara Network relies on Substrate's framework for its smart contracts, ensuring a solid foundation for decentralized applications.</li><li><strong>Gas Reservation Mechanism</strong>: Vara introduces a gas reservation mechanism, allowing users to allocate computational gas for their transactions in advance. This ensures the prioritized execution of critical transactions, promoting efficiency and timely processing.</li></ol><p><strong>Gear Protocol: Streamlining Smart Contracts with WebAssembly</strong></p><p>Gear Protocol represents a pivotal moment in smart contract development. It provides developers with a Substrate-based platform that streamlines the creation and deployment of decentralized applications (dApps).</p><p>Let's explore the features of Gear Protocol:</p><ul><li><strong>The Actor Model:</strong> Gear Protocol adopts the Actor Model, where each program functions as an independent "actor." These actors process and transmit messages asynchronously, guided by their unique logic. This architecture enables parallel processing, allowing multiple tasks to run concurrently, thereby enhancing scalability and efficiency.</li><li><strong>Persistent Memory:</strong> This feature ensures data accessibility. Persistent memory guarantees the secure preservation of critical data, enhancing network reliability and resilience.</li></ul><p>"Gear Protocol and Vara's groundbreaking approach bridges Web2 and Web3 seamlessly. By simplifying development and enabling focus on messaging, it accelerates blockchain adoption. Vara simplifies the transition from Web2 and Web3 with its features, eliminating complexities and propelling blockchain into the mainstream." - Aleksandr Tishin, Data Analyst at P2P.org</p><p>As one of the first validators and one of the largest non-custodial staking providers, P2P.org plays a pivotal role in securing and advancing the blockchain industry. With a track record of safeguarding over $1.5 billion in assets, our commitment to the blockchain ecosystem is unwavering. We excel in conducting comprehensive due diligence on digital assets, providing top-tier staking opportunities, and establishing valuable partnerships across the DeFi landscape.</p><p>At the core of our mission is the shared vision of an open and decentralized future for all. We firmly believe in the power of decentralized technologies to drive positive change and innovation. Our support for projects like Gear Protocol and Vara Network underscores our dedication to developer communities, simplifying development processes, and fostering easy access to decentralized solutions. As we continue to forge ahead, our strengths as a company lie in our unwavering commitment to the blockchain industry's growth, security, and accessibility, aligning with a world where blockchain technology transforms industries and empowers individuals worldwide. Together with others in the ecosystem, we strive to build a more inclusive and decentralized future that benefits everyone.</p>