Exploring the Partnership Between DragonStake and SSV.Network
DragonStake’s Partnership and Contribution to SSV.Network’s Growth in the DVT Era.
At DragonStake, we pride ourselves on being a team of professional Proof-of-Stake (PoS) validators with a formidable presence in the genesis blocks of major networks. Since 2017, our path has been marked by a carefully curated portfolio, with a strong emphasis on governance. Our unwavering commitment to a long-term vision has found its niche in the thriving Decentralized Validator Technology (DVT) era.
DragonStake, alongside its team, has ventured into successful explorer deployments on various networks, including Polkadot, Kusama, Evmos, Reef, and Kira. One of our notable achievements, the Polkastats.io explorer, stands as a testament to our commitment to enhancing blockchain ecosystems. This knowledge has inspired us to take the lead in proposing a new explorer for ssv.netwokr.
Our reputation precedes us; DragonStake has a track record of nurturing emerging networks from their testnet to mainnet launch. Our involvement spans testnet phases, content creation, translation, and community development. Our expertise has left its mark on platforms like Cosmos, Polkadot, Avalanche, and Evmos, solidifying our presence in the SSV Network, where we feel truly at home.
Embarking on the SSV Journey from Testnet
Our partnership with SSV.Network began during the testnet phase. This association laid the foundation for a profound understanding of the network’s nuances, strengths, and potential. As a result of our commitment to DVT and SSV, DragonStake is part of the Limited Launch phase, where only validators by the core team are onboarded to the network. This exclusive role positions us as a verified operator of SSV, a testament to our technical prowess and dedication to the ecosystem.
As a Verified Operator, DragonStake not only maintains the network but also contributes to governance and introduces new tools to the ecosystem, such as our innovative SSVScan.io explorer.
Exploring SSVScan.io powered by DragonStake
SSVScan.io offers a comprehensive suite of features that empower users to evaluate network performance over time. With a keen focus on operators and validators’ performance, this tool provides a unique perspective for both newcomers and seasoned stakers. The ability to assess operator attendance and participation in duties adds an extra layer of transparency, contributing to informed decision-making.
Interestingly, SSVScan.io provides an insightful breakdown of operators’ consensus per epoch for their validator duties. This particular feature directly reflects the performance of operators. This means users can quickly assess how well operators are fulfilling their responsibilities within the network.
Moreover, SSVScan.io offers valuable metrics such as fees over time, validators’ growth, and revenue. These metrics play a crucial role in enhancing users’ comprehension of the network’s dynamics. They enable users to make informed staking choices based on a comprehensive understanding of how operators are behaving and how the network is evolving over time.
This information proves invaluable for both users and SSV.Network itself. Users can better evaluate operators, ensuring they align with their preferences and objectives. SSV.Network benefits from this data-driven approach as it aids in decision-making processes regarding validator performance, fees, and growth trends.
It’s worth highlighting that SSVScan.io’s development was led by Mario Pino, DragonStake’s Senior Developer. This underscores our commitment to providing meaningful tools for the SSV community, demonstrating how our expertise contributes to the betterment of SSV.Network’s ecosystem.
The Current Challenge with Ethereum Staking
At present, Ethereum staking presents certain limitations for holders. Primarily, individuals looking to stake their ETH must possess a minimum of 32 ETH to do so without relying on third-party DApps. Given Ethereum’s current price, this high threshold becomes a significant barrier for retail users aiming to participate.
The issue with existing DApps allowing staking with less than 32 ETH (known as liquid staking protocols) lies in centralization. A large portion is concentrated on these platforms, granting them substantial control over the ETH network. These platforms are non-self-custodian, meaning users lack control over their funds.
Furthermore, staking natively involves entrusting all tokens to a single operator. Should this operator make an error, it would result in penalties for users since their cryptocurrencies are held in that operator’s node.
How Does SSV.Network Address These Challenges?
The introduction of Staking Pools provides a solution to these concerns. ETH holders can engage in self-custodian staking. This collaborative approach allows users to join forces, simplifying access to staking.
To tackle the one-operator issue, SSV.Network employs the Boneh-Lynn-Shacham (BLS) cryptographic signature technique. This technique enables multiple validators to securely collaborate on block signing, eliminating the necessity for private key sharing. This collaborative approach significantly reduces the risk of potential attacks or unauthorized access to staking assets.
