Stateless.Money — Supporting a small validator is supporting decentralization
The era of Proof of Stake (PoS) arguably began with the launch of Tezos at the end of 2018. In the first 6 months, a handful of technically sophisticated participants began validating on the network, evidence of a vibrant community of hodlers who wanted to help ensure decentralization of validation.
It didn’t take long for exchanges to take notice of the business case for staking. It’s now apparent that PoS networks will face the risk of governance and security centralization posed by a handful of large exchanges and validators.
We decided to launch a public PoS validation service, starting with Kusama and Polkadot, to help ensure hodlers have an alternative option to the ‘big guys’ while maintaining the same performance and security standards.
The 4 things we believe you should consider when choosing a validator on Polkadot:
- Security & Stability. Ensure your validator has a secure and stable node infrastructure with superior uptime and performance. This reduces the potential of slashing, which will occur if the node goes offline.
- Profitability. Understand the fees associated with your validator, and choose a level you are comfortable with. Be careful of no-fee services, as many may likely increase fees in the future after you have nominated your rights to them.
- Size. Nominating a large validator doesn’t mean you’ll make more money than nominating a small one. With Polkadot and Kusama, you have 16 nominations, meaning you’re able to spread your nominations across a variety of providers. Support decentralization of the network by nominating a variety of validators, rather than multiple nodes from a single large validation service.
- Transparency & communication. Get to know the people operating your validation service. Ask questions, join their communications channels, and be part of the governance process.
How does Stateless.Money compare?
- Security & Stability. We operate our validator with container orchestration with multiple cross-connected sentry nodes, deployed to multiple regions, with backup validator nodes. Our cloud set-up has proved to be incredibly resilient and high-performing, maintaining its position in the top ten validators on Kusama’s 1000 Validator Program.
- Profitability. We validate Polkadot for a 5% fee, which ensures we can dedicate the necessary resources to ensure a full-time commitment to performance and uptime.
- Size. We are an independent Polkadot validator using our personal capital to bootstrap the service. By nominating us, you’re choosing to support decentralization without compromising on performance or cost.
- Transparency & communication. Graham and Ben operate Stateless.Money. Please find our Telegram group chat and join the conversation. I’d be happy to have a call with you to answer any questions you may have.
Ready to nominate our validator?
Here are our validation addresses: