Huobi Global Becomes a pNetwork Node Operator!
As one of the top crypto exchanges, the pNetwork community is thrilled to welcome Huobi Global as one of its node operators!
Since its inception in March 2020, pNetwork has been working towards its path for decentralization. This resulted in the launch of the pNetwork DAO and the governance token PNT, followed by the introduction of a network of nodes.
The pNetwork is an open, public and independent network with an inbuilt governance structure that powers a multi-chain routing protocol for the movement of assets, NFTs, and data.
Node operators are the backbone of pNetwork. They operate the key cross-chain infrastructure to ensure that smart contracts and dApp users across every blockchain can access assets’ value and liquidity. Thanks to their valuable work, pNetwork has processed over $ 1 Billion in cross-chain operations, moving assets across 15 blockchains.
Huobi joins the community of pNetwork nodes
Open for anyone to join, the network of nodes currently counts 27 registered operators, including individuals from the community and projects from the larger ecosystem.
Founded in 2013, Huobi Global is one of the top brands in the crypto space and a top 10 exchange for trading volumes, according to coinmarketcap.com. Huobi is a leading node operator in the industry. It has built long-term partnerships with mainstream public blockchains, including Avalanche and Solana, other than being an ETH 2.0 staking provider.
Joining other projects like ChainGuardians and Peerion DAO, we are happy for Huobi to join the pNetwork ecosystem as a node operator!
What’s a pNetwork node?
These cross-chain node operators are responsible for watching the blockchain for new incoming requests for asset switches from one network to another and ensuring the requested liquidity, NFTs, or data transfer process happens correctly.
Because of their key role within the pNetwork protocol, nodes are rewarded for their operations with the redistribution of fees generated by the system. Over $ 700,000 have been accrued by the network and distributed in various cryptocurrencies to date.
pNetwork nodes coordinate to guarantee a high level of security for the services they power. The pNetwork system uses a network of node operators and Trusted Execution Environments to grant security over the network. A Trusted Execution Environment (TEE) is a secure sandbox that provides security features, guaranteeing the code and data loaded inside are protected and remain confidential. The pNetwork relies on both a network of nodes and TEEs in a complementary way, where node operators run their critical operations via TEE-enabled machines to ensure that these nodes behave honestly.
The path to pNetwork’s decentralization
In line with its aims of multi-chain inclusion, pNetwork’s governance and infrastructure systems are accessible from multiple blockchains. The pNetwork DAO voting and node staking are available on Ethereum and BSC, while PNT is present on 6 networks, including Polygon.
While making the pNetwork ecosystem more and more accessible, the pNetwork community is also strengthening and expanding with reputable projects like Huobi joining its network.
These are key steps for the community to assume more power and influence on the project’s future, leading it to new heights!