P2P Validator acquired Corestar development team

<p>Polkadot is a decentralized ecosystem of parallelized blockchains called parachains. They can be used for various cases and are able to communicate seamlessly while parallel transaction processing drastically increases scalability. Polkadot implemented shared security meaning that all parachains share their state and are verified by a single validator's set of a Relay Chain. Separate blockchains can also be linked to the Polkadot ecosystem via bridges.</p><p>Developers can utilize Substrate, a framework for building parachains, to minimize the effort of constructing their own blockchain and seamlessly join to the Polkadot ecosystem. The network is permissionless and governed by the DOT token holders on-chain in a truly decentralized manner.</p><h3 id="current-state-and-market-potential"><strong>Current state and market potential</strong></h3><p>Polkadot mainnet is expected to launch by the end of May as a Proof-of-Authority chain with gradual transition to Nominated-Proof-of-Stake.</p><p>Interoperability is an important component for the evolution of blockchains. The benefit of a single network is limited by its capabilities and design solutions. The ability to interoperate seamlessly and utilize some unique features of each other will bring new use cases across interconnected projects and increase the synergy of cumulative value flow.</p><p>The closest analogy to Polkadot Relay Chain is Cosmos Hub secured by the ATOM token, which has a market capitalization of more than $500 000 000 on the date of writing. The Polkadot’s concept of shared security can drive additional demand for DOT token resulting in a higher initial token price and market capitalization at launch.</p><h3 id="token-allocation-and-purpose"><strong>Token allocation and purpose</strong></h3><p>Web3 Foundation raised ~$144 million. The overall DOT token allocation looks as follows:</p><ul><li>50% of DOT tokens sold via ICO in 2017</li><li>50% remain with the foundation where 20% are reserved for future sales or other ways of distribution to the public and 30% to support the Polkadot ecosystem growth</li></ul><p>DOT is the native token of the Polkadot Relay Chain the main purpose of which is to host multiple parachains and form the robust validator set to provide shared security making interchain transactions trust-free. DOT holders will be able to influence the future development of Polkadot ecosystem by participating in governance. Another purpose is to select validators who will be the active set by bonding their DOT and nominating. In order to join Polkadot ecosystem, parachains will need to lock a certain amount of DOT and get approval from the community.</p><p>There is no information available regarding the additional sale before mainnet launch. To acquire tokens you should participate in Kusama as <strong><strong>one percent of DOT tokens at genesis are reserved as a reward for Kusama stakeholders and active community</strong></strong>. The distribution scheme has not been finalized yet.</p><p>Otherwise, you should wait for official announcements from Web3 Foundation and listing on exchanges.</p><h3 id="staking-economics"><strong>Staking economics</strong></h3><p>Polkadot currently uses hybrid consensus algorithm GRANDPA/BABE. Validator nodes verify blocks of Relay Chain and hosted parachains and earn DOT rewards. Polkadot Relay Chain will launch as a Proof-of-Authority chain with smooth transition to NPoS. <strong><strong>Staking rewards depend on annual network emission which is a function of staked tokens</strong></strong>. The maximum value of 10% annual emission is achieved at 50% of tokens at stake resulting in ~20% APR. If the staked percentage surpasses 50% then network emission will decrease drastically. Holders can nominate validators they believe and trust increasing overall security of the network and earn a share of rewards in proportion to their stake in the validator pool.</p><p>In Polkadot, due to the fact that validators perform the same job for the network, they have equal chances to produce a block regardless of their stake. Era rewards are distributed among the active validators meaning that with a rising number of active nodes the reward per validator pool will be lower.</p><p>There is no minimum required to become a nominator but balance must have at least 0.01 DOT and should be sufficient to pay transaction fees. Staking since the beginning of the mainnet will result in higher returns for nominators.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/I3IshhC.png" class="kg-image" alt loading="lazy" width="1368" height="756" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/I3IshhC.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/I3IshhC.png 1000w, https://p2p.org/economy/content/images/2020/09/I3IshhC.png 1368w" sizes="(min-width: 720px) 720px"></figure><p>*<em><em>If 50% tokens are nominated and validators have equal stake.</em></em></p><h3 id="slashing-risks"><strong>Slashing risks</strong></h3><p>If a validator misbehaves there are<a href="https://research.web3.foundation/en/latest/polkadot/slashing/amounts.html?ref=p2p.org"> 4 levels of punishment</a> depending on the severity of misconduct.</p><p>In the case of an <strong><strong>isolated downtime</strong></strong>, the nominated stake won't be slashed but the validator will be removed from the active set and next election without receiving a reward. If it happens repeatedly or more than 10% of validators go offline simultaneously then the nominations of the offending validator will be lost and a portion of a stake will be slashed.</p><p><strong><strong>Isolated GRANDPA equivocation</strong></strong> occurs if a validator signs two or more votes on different chains in the same round. <strong><strong>Isolated BABE equivocation</strong></strong> occurs if the validator produces two blocks on the Relay Chain in the same time slot. In both cases the punishment will be more severe.</p><p>In the case of a validator’s hacks or low level of coordination like <strong><strong>simultaneous BABE/GRANDPA equivocation</strong></strong> by multiple operators, up to 10% of a stake can be slashed.</p><p>If validators form large cartels and pose a serious security risk then punishment can be even bigger - up to 100% slashing.</p><h3 id="about-p2p-validator"><strong>About P2P Validator</strong></h3><p><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=polka_brief">P2P Validator</a> is a world-leading non-custodial staking provider securing more than $3 billion by over 10,000 delegators/nominators across 25+ high-class networks. We have been present in all Polkadot testnets and have been actively participating on Kusama network since the beginning. P2P Validator invested its own funds in Polkadot in 2017 and intends to support the network in the long term.</p><h3 id="useful-polkadot-resources"><strong>Useful Polkadot resources</strong></h3><p>Website: <a href="https://polkadot.network/?ref=p2p.org">https://polkadot.network</a></p><p>Github: <a href="https://github.com/paritytech/polkadot/?ref=p2p.org">https://github.com/paritytech/polkadot/</a></p><p>List of grantees: <a href="https://wiki.polkadot.network/docs/en/grants?ref=p2p.org">https://wiki.polkadot.network/docs/en/grants</a></p><p>Claim DOT tokens: <a href="https://claims.polkadot.network/?ref=p2p.org">https://claims.polkadot.network/</a></p><p>Whitepaper: <a href="https://polkadot.network/PolkaDotPaper.pdf?ref=p2p.org">https://polkadot.network/PolkaDotPaper.pdf</a></p><p>Litepaper: <a href="https://polkadot.network/Polkadot-lightpaper.pdf?ref=p2p.org">https://polkadot.network/Polkadot-lightpaper.pdf</a></p><p>Overview and design considerations: <a href="https://github.com/w3f/research/blob/master/docs/papers/OverviewPaper-V1.pdf?ref=p2p.org">https://github.com/w3f/research/blob/master/docs/papers/OverviewPaper-V1.pdf</a></p><p>Blog: <a href="https://polkadot.network/blog/?ref=p2p.org">https://polkadot.network/blog/</a></p><p>Forum: <a href="https://forum.web3.foundation/?ref=p2p.org">https://forum.web3.foundation/</a></p><p>Projects in Polkadot ecosystem: <a href="http://polkaproject.com/https://www.oasislabs.com/blog?ref=p2p.org">http://polkaproject.com/https://www.oasislabs.com/blog</a>)</p><p>Mainnet launch explained: <a href="https://www.youtube.com/watch?v=TpcCeo-ZkDY&ref=p2p.org">https://www.youtube.com/watch?v=TpcCeo-ZkDY</a></p><hr><p><em><em>Want to stake DOT with us? Alexey will be happy to help. Contact</em></em> <em><em>[email protected]</em></em> <em><em>to get personal assistance.</em></em></p><hr><p><strong><strong>P2P Validator</strong></strong> provides secure non-custodial staking. Subscribe to our channels and stay tuned for updates and new blog posts.</p><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=polka_brief"> https://p2p.org</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator?ref=p2p.org"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong><a href="https://t.me/p2pvalidator?ref=p2p.org"> https://t.me/p2pvalidator</a></p>

<p>Existing Cosmos explorers show limited information. In some cases, reward withdrawal happens not only by initiating <code>withdraw</code> transaction and there are unobvious events, which cause that action. We have added these hidden events to P2P Dashboard, <strong><strong>implemented full reward history across all Cosmos Hub versions and opened it for community</strong></strong>. Below, I will walk through the topic in detail with examples.</p><h3 id="transparency-limit"><strong>Transparency limit</strong></h3><p>Every transaction that is recorded in non-private blockchain can easily be retrieved for analytical or other purposes providing clarity for end users. With such transparency everyone can get a trusted record of any event since the start of the network. But is it really an easy task for someone without deep knowledge in code and various API endpoints to get all the data they need?</p><p>You may argue that there are multiple explorers built for this purpose but each of them focuses on various goals and doesn’t give a complete picture of all events happening in a particular network. For an ordinary user like me, explorers act as a window in this magic world of blockchains and <strong><strong>our understanding is limited by the events various tools decide to display</strong></strong>.</p><p>Blockchains are still new and complex to understand. The increasing number of projects with a different logic and various triggers is aggravating. Transparency matters especially for financial transfers and events that can be used for accounting purposes. For example, in Proof-Of-Stake blockchains it can be a withdrawal of accumulated rewards.</p><p>A diversity of high-quality explorers is significant for building user commitment to the network and facilitating trust although more tools do not always result in better visibility. Some explorers focus more on usability, which is also very important but it still is not conductive to increasing transparency for users of the network.</p><h3 id="unobvious-events-in-tendermint-blockchains"><strong>Unobvious events in Tendermint blockchains</strong></h3><p>Let's take a look at the reward withdrawal process in Cosmos Hub. Surplus accumulates in a validator pool and can be withdrawn to the corresponding staking address manually. Basically, a delegator withdraws rewards at any point of time to receive them on address. Explorers show this operation with names like GetReward or Withdraw Reward. In fact that's not the only action that triggers reward withdrawal.</p><h4 id="example-27-03-2020-"><strong><strong><strong>Example</strong></strong> (27.03.2020)</strong></h4><p>Let's take a random account and check the information about its balance on<a href="https://www.mintscan.io/account/cosmos1d5lu67hu3lhqtw6zyv7uy4gkfpdtfnzxw0wga8?ref=p2p.org"> Mintscan</a> block explorer.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/1-5.png" class="kg-image" alt loading="lazy" width="1784" height="547" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/1-5.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/1-5.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/1-5.png 1600w, https://p2p.org/economy/content/images/2020/09/1-5.png 1784w" sizes="(min-width: 720px) 720px"></figure><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/2-8.png" class="kg-image" alt loading="lazy" width="1799" height="685" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/2-8.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/2-8.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/2-8.png 1600w, https://p2p.org/economy/content/images/2020/09/2-8.png 1799w" sizes="(min-width: 720px) 720px"></figure><p>If we calculate total balances using this transaction data we should get:</p><ul><li>Received: <em><em>484,7076 ATOM</em></em></li><li>Delegated: <em><em>474 ATOM</em></em></li><li><em><em>Tx Fees: 0,015 ATOM</em></em></li><li>Available: <strong><strong><em><em>10,692625 ATOM</em></em></strong></strong></li></ul><p>And here are values from<a href="https://www.mintscan.io/account/cosmos1d5lu67hu3lhqtw6zyv7uy4gkfpdtfnzxw0wga8?ref=p2p.org"> Mintscan</a>:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/3-7.png" class="kg-image" alt loading="lazy" width="1890" height="532" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/3-7.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/3-7.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/3-7.png 1600w, https://p2p.org/economy/content/images/2020/09/3-7.png 1890w" sizes="(min-width: 720px) 720px"></figure><p>It is also true for the same address on <a href="https://cosmos.bigdipper.live/account/cosmos1d5lu67hu3lhqtw6zyv7uy4gkfpdtfnzxw0wga8?ref=p2p.org">Forbole</a>:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/4-4.png" class="kg-image" alt loading="lazy" width="1889" height="570" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/4-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/4-4.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/4-4.png 1600w, https://p2p.org/economy/content/images/2020/09/4-4.png 1889w" sizes="(min-width: 720px) 720px"></figure><p>We see an additional 0,971002 ATOM on the available balance, but where did they come from if there was no withdraw transaction made by this account? Of course you may say it's even less than 1 ATOM who cares? But systems based on a code should not allow any mistake. So, is the displayed balance correct or wrong? Let's look into it.</p><p>In fact, the balance is correct. <strong><strong>There are hidden events that trigger reward withdrawal but are not displayed on most explorers</strong></strong>. These tools serve another purpose and these events do not correspond much to the observation of what is happening in general. Nevertheless, these triggers are still crucial for generating full withdrawal history and bringing clarity for delegators.</p><p>There are five core types of actions delegators usually perform:</p><ul><li>Delegate to a validator</li><li>Redelegate to another validator</li><li>Undelegate from a validator</li><li>Withdraw accumulated rewards</li><li>Send available tokens to another address</li></ul><p>The first four of them initiate reward withdrawal, which is usually not displayed for the first three actions by most explorers.</p><p>On P2P Dashboard you can check reward withdrawals related to the same address.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2020/09/5-4.png" class="kg-image" alt loading="lazy" width="1895" height="482" srcset="https://p2p.org/economy/content/images/size/w600/2020/09/5-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2020/09/5-4.png 1000w, https://p2p.org/economy/content/images/size/w1600/2020/09/5-4.png 1600w, https://p2p.org/economy/content/images/2020/09/5-4.png 1895w" sizes="(min-width: 720px) 720px"></figure><p>In some cases, to apply updates of the network, validators stop producing blocks and upgrade node software. This process requires a transition to a new chain with a new genesis file that stores the actual state at the moment of chain halt. When the new chain becomes active what happens with accumulated rewards?</p><p>These rewards also become available, the transition to the new chain triggers withdrawal but the event is also hidden and not obvious to delegators.</p><h3 id="p2p-dashboard"><strong>P2P Dashboard</strong></h3><p>Every public network needs a variety of analytical tools to allow people without advanced technical skills to get information about what is going on from different angles. In Proof-Of-Stake blockchains a clear reward history and accessibility of historical data are especially important. <strong><strong>What if you need to prove received reward referring to a particular event that simply does not displayed by any explorer?</strong></strong></p><p>Thinking of that, we decided to conduct technical research to make all rewards and withdrawals together with corresponding messages accessible and transparent across all versions of Cosmos Hub.</p><blockquote><em><em>We have added ability to check all withdrawal events across all versions of Cosmos Hub on <a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_dashboard_release#dashboard-block">P2P Dashboard</a> and made it open for community. In addition, any ATOM delegator can check all withdrawals, get full reward history and download a report in CSV for multiple addresses.</em></em></blockquote><p>To start, go to <a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_dashboard_release">p2p.org</a> and click <code>Get started</code> button in the top right corner. Connect to the dashboard manually by entering the address or using your Ledger device.</p><hr><p><em><em>Want to stake with us? Alexey will be happy to help. Contact</em></em> <em><em>[email protected]</em></em> <em><em>to get personal assistance.</em></em></p><hr><p><strong><strong>P2P Validator</strong></strong> provides secure non-custodial staking. Subscribe to our channels and stay tuned for updates and new blog posts.</p><p><strong><strong>Stake ATOM with us:</strong></strong><a href="https://p2p.org/cosmos?ref=p2p.org"> https://p2p.org/cosmos</a></p><p><strong><strong>Web:</strong></strong><a href="https://p2p.org/?utm_source=blog&utm_medium=economy&utm_campaign=cosmos_dashboard_release"> https://p2p.org</a></p><p><strong><strong>Twitter:</strong></strong><a href="https://twitter.com/p2pvalidator?ref=p2p.org"> @p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong><a href="https://t.me/p2pvalidator?ref=p2p.org"> https://t.me/p2pvalidator</a></p>