Introducing: ZKValidator
Today we announce the launch of ZKValidator — a purpose-driven validator. Already securing Cosmos and Kusama, ZKV aims to use rewards generated by validation to support Zero Knowledge initiatives across these as well as other selected upcoming PoS networks.
Introduction
Proof-of-Stake (PoS) is a new paradigm in the blockchain world, enabling higher scalability with reduced energy consumption, and offering many other advantages. PoS consensus achieves this by introducing a class of ‘validators’ to replace ‘Miners’ who secured the chain in systems such as Bitcoin.
Many hotly anticipated PoS networks, such as Cosmos, have now launched, and Ethereum also aims to transition to this new model within the next 12 months.
But this is just the beginning — over 150 PoS networks are set to launch in the next 2 years — and each will rely on a robust validator ecosystem — groups of organisations and individuals who stake their tokens and run nodes in order to keep a network safe.
Who chooses to run these validators? And how do others choose which of these to then ‘delegate’ their tokens to?
Delegation to a validator gives them more weight in the network (proportional to the total delegated tokens), but means trusting them with the risk that if they do not perform their role well, you may lose part of your tokens.
Models are still emerging and being tested, but so far three key patterns for validators are starting to appear:
- Relationships, security, and capital growth focused validators
- White label infrastructure provided for large token holders and exchanges who already hold tokens
- Services and product development focus, creating tools for the ecosystem of stakeholders and network participants
However, we believe there is room for a new category of validator; a validator which is focused on championing a characteristic or ideal within the networks they work in. In a nutshell: a validator with purpose.
And so, we are excited to introduce the ZKValidator, a purpose-driven validator which will participate in securing a selection of these upcoming PoS systems, starting with Cosmos and Kusama.
A Purpose-Driven Validator
The ‘ZK’ in ZKValidator stands for Zero Knowledge — an exciting and rapidly growing field of cryptography that has the potential to dramatically change the way blockchain technology (as well as non-blockchain technology) is used. The aim of ZKValidator is to drive value to PoS networks through supporting Zero Knowledge research initiatives and privacy focused governance proposals, and enabling this technology to be utilized by blockchain developers.
Many in the ecosystem have warned against a potential ‘race to the bottom’ for validators, with commission fees being the only differentiating factor, similar to the competition which occurred in the PoW mining pool space.
However, although the role in chain-security that validators play is similar to that of miners, they also serve an additional purpose — governance.
Validators can influence and vote on which changes are included in protocol upgrades, and use a variety of other governance tools at a protocol level as well as through their public voice in the communities.
It is this governance power that a validator yields that we believe opens the door to a new type of purpose-driven validator. The purpose driven validator can construct its proposals and vote towards a specific mandate, while using its commission to further support research and development within the network.
As a result, we believe that validators can act as leaders by championing initiatives on behalf of those stakeholders who delegate to them. In our case, we believe that current ZK technology development, although still early stage, will be transformative for this industry, and so we are devoted to promoting its implementation in new Proof-of-Stake blockchains.
Our Mission
We aim to drive value back into our respective staked PoS networks by ensuring that the latest Zero Knowledge research and emerging ZK standards are included in development at the protocol level. Zero Knowledge systems allow for better privacy and important scaling improvements. We believe these improvements are vital to the health and growth of these networks and ensure that they will be able to deliver on their potential.
The ZKValidator aims to explore what technical implementations would be necessary for Zero Knowledge proof technologies and other privacy preserving techniques to be unleashed.
We aim to expand our role of validator to the PoS networks that have the most potential for the inclusion of ZK & privacy systems, or those that already hold privacy as one of their central design goals.
Why Cosmos and Kusama (Polkadot)?
Our initial networks, are Cosmos and Kusama (an early implementation of Polkadot). We chose these two networks as the first for ZKV, because we believe they have the high potential to host applications which can in the near future benefit from Zero Knowledge technologies.
Both are still early stage, but have large developer networks. However for the moment they do not support the cryptographic primitives which would make it possible for Zero Knowledge technologies to thrive on them. This makes them the perfect ecosystems for us to work on behalf of stakeholders to introduce these technologies.
Why Zero Knowledge?
To many people the term ‘Zero Knowledge’ (ZK) may not yet represent much. ZK research is a bubble within a bubble, and the impacts of the developments that are starting to happen are not yet obvious. However to many of the key stakeholders and application builders in the blockchain and cryptocurrency ecosystems, it is starting to be visible that the latest research and developments in the field of zero knowledge (and related privacy technologies) are going to be completely transformative for all blockchains.
Zero Knowledge offers possibilities for Privacy, which is the area they are most commonly associated with, but also with Scaling and Interoperability. We have recognised the transformative potential they offer, and our mission is to drive huge value to the various blockchain networks we work with, by ensuring that the newest cryptography in the Zero Knowledge space is implemented and can be used in the networks where we run validators.
Who Are We?
ZKValidator is a joint project by Anna Rose and Will Harborne.
Anna is the co-host of the Zero Knowledge Podcast with Fredrik Harrysson (CTO, Parity Technology) a weekly technical show primarily focused on Blockchain, Open Source Software and Zero Knowledge Cryptography. She also organises the bi-yearly zkSummit event series and hosts the zkStudyClub — a monthly research discussion group.
Will is the CEO of DeversiFi, a cryptocurrency exchange allowing customers to keep full control of their assets and therefore to have zero-counterparty risk. In 2020 DeversiFi will be one of the first applications to leverage ZK technology on Ethereum, working with StarkWare, in order to enable significantly higher trading throughputs at low-cost and high-speed.
Each of us have worked with many of the stakeholders within the Cosmos and Polkadot ecosystems over the past 2–3 years, and this will help us to launch formative initiatives which we believe will benefit both ecosystems. Stay tuned!
Stake your ATOM or KSM with ZKValidator to help accelerate scalability and privacy on Cosmos and Kusama!
ZKV’s validator nodes are powered by the Bison Trails platform: the easiest way to run infrastructure on multiple blockchain networks.
Bison Trails is pioneering blockchain infrastructure with a technology platform that provides enterprise-grade security, multi-cloud and multi-region distribution, and a 99.99% uptime guarantee. Their aim is to strengthen the entire blockchain ecosystem, enabling the pioneers of tomorrow.
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