Know Your Validator: Inter Blockchain Services (IBS)
Since Fetch.ai is a Proof-of-Stake blockchain network, the essential task of maintaining the whole system and guaranteeing its security is entrusted into the “hands” of its validators. Additionally, validators are trusted with delegations by FET stakers of all sizes, which practically translates into increasing their voting power and, by extension, their influence over the network. Consequently, they become the keepers of the fragile balance between accumulating power while also, for the health of the chain, striving to make it as decentralized as possible.
Unfortunately, these custodians of the protocol are usually shrouded in secrecy, and users often find it challenging to make an informed choice of whom to delegate their funds. In an attempt to remedy that and to create a space for Fetch validators to talk directly with our community, we initiated the Know Your Validator campaign.
Now, almost two years later, we are boosting transparency even further. We are launching a series of blog posts, each dedicated to one of our validating partners, so as to help you know them better.
Seven pieces from the series have already been published — check out our interviews with Blockscope.net, Posthuman.Digital, Staking Land, Stakewolle, Antrix, High Stakes, and Active Nodes.
Below is the eighth one featuring the Inter Blockchain Services (IBS) team. Enjoy!
Q: In a couple of sentences, introduce yourself and/or your organization and tell us where you are based.
IBS: We are a French team of two crypto enthusiasts who work in IT as a sysadmin and a network administrator. Our company was established in France on June 2, 2022, as our main data center is based in Le Mans.
Q: What got you into the Web3/crypto space, and how long have you been in it?
IBS: We started our cryptocurrency adventure in 2015 as miners, and since then we have gone through mining, maintaining masternodes, and so on.
The search for new technologies pushed us towards the Cosmos ecosystem and the validation services. In the beginning, we were only motivated by the challenge and the fun of it, until the creation of our business came as a natural evolution.
Q: Tell us your story about how and when you became a validator on the Fetch.ai Network. How did you first hear about Fetch.ai?
IBS: The Fetch validator was one of our first ones — it was created on fetchhub-1 in June 2021.
We were looking for a new network, and artificial intelligence seemed to us like the perfect domain for strong growth. The Fetch roadmap was ambitious, and the opportunities offered by the Fetch agents convinced us of the project’s potential.
Q: Have you participated in Fetch testnets?
IBS: We participated in testnets and helped the Fetch development team with debugging IBC.
Q: What commission do you offer FET holders as a delegation incentive?
IBS: We have a fixed commission rate of 5% on all networks we validate.
Q: Have you participated in governance discussions and voted on any of the governance proposals?
IBS: We voted on all the proposals since proposal #6.
Q: Are you running (or planning to run) any ecosystem features such as seed nodes, client RPC endpoints, block explorers, or a DApp?
IBS: We are providing public API and RPC for various networks, all listed here. To optimize rewards for our stakers, we are also running restake.
As IBC lovers, we specialize in running a relayer on each network we validate! We think IBC and interoperability are key features of crypto technology, and that is why delivering IBC services is a focus for us.
Q: Please describe your involvement as a validator or in any other development work in the overall Web3 ecosystem.
IBS: We promote decentralization, including in the operation of our validators — they are not hosted in AWS, Google Cloud, or Hetzner. Decentralization is essential for a healthy network.
Q: Which is your favorite DApp and why?
IBS: Every ecosystem needs at least a DEX and Osmosis is the one with deeper liquidity, although the challenger Kujira is very promising (real yield narrative). Axelar is a key to attracting liquidity from other ecosystems because of its user-friendliness and high level of security.
Q: What are your plans for the coming 5 years?
IBS: In the next 5 years we hope to expand the number of validated networks as well as the services supporting the decentralization of the networks. We are actively working with teams to bring our IBC expertise to promising new projects.
Q: Is there something you would like to share with our community?
IBS: We just want to let the community know that we are available to provide any help through our communication channels.
Q: How can our community members reach out and contact you? Please share your website and/or social media profiles.
IBS: Website, Twitter, Telegram: @remiibs or @jayjay38, Discord: @Remi | Inter Blockchain Services#3616 or @Jay | Inter Blockchain Services#1653
