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Blockdaemon’s complete node stack supports the flow of data and value for millions of users. Our customers include top tier financial institutions, crypto native companies, exchanges, and many more…
Blockdaemon Blog
Blockdaemon Announces Institutional Access to Pocket Network Infrastructure
Daemon News
Oct 4, 2022
By:
Conor
Keville
&
Blockdaemon is proud to become the latest validator operator to support Pocket Network’s Validator Nodes operator.
As a Validator, Blockdaemon actively helps verify blockchain data from Pocket’s supported blockchains back to dApps and end users, while adding significant value to network builders. Our leading infrastructure now contributes to Pocket Network’s infrastructure, adding to the strong foundation on which projects build winning decentralized applications (dApps).
Often, it is not feasible for institutions and businesses to build and maintain their own Pocket Network validator node to access staking services and contribute to the data servicing needs of other blockchain ecosystems. Blockdaemon’s years of node blockchain expertise significantly lowers this barrier to entry for businesses willing to stake POKT and participate as a Validator.
For years, Blockdaemon has been a reliable operator across dozens of cutting edge blockchains. We’re excited to expand our support to Pocket Network.
Blockdaemon now delivers a high-quality, reliable blockchain service to further strengthen the Pocket Network ecosystem, allowing institutions to leverage our gold-standard node services.
Rather than facing the ongoing challenges of self-running a Validator Node, it is now possible to outsource Pocket Network node requirements to Blockdaemon. Our blockchain-as-a-service solution is maintained by our team of world-class blockchain engineers. This brings all the benefits of easy access to Pocket Network staking, without the infrastructure overheads.
With Blockdaemon, it is now possible for institutions to connect to Pocket Network with one single integration.
What is Blockdaemon’s Role as a Validator Node Operator?
Staking with Blockdaemon adds to the diversity of Pocket Network’s fleet of nodes, while also generating staking rewards for clients.
Blockdaemon validator nodes service API requests (or “Relays”) from projects building on the network. These compute units are provided to decentralized applications that use Pocket Network for their RPC infrastructure. Validator nodes not only perform the relays, but also validate the relays performed by other nodes, keeping each other honest and reliable.
On Pocket Network, an Application submits a Relay Request (an API request) which is routed to any supported network/blockchain (known as a Relay Chain) that uses the RPC standard. The full list of supported Relay Chains can be found here.
Blockdaemon services the Application by routing the Request to the Relay Chain and returning a response (i.e. delivering blockchain data) to the Application.
This coordination between Applications and Pocket node operators lies at the heart of Pocket Network. This relationship is outlined below.
Pocket Network uses Sessions to regulate interactions between Applications and Nodes.
New sessions are created every 4 blocks (approximately every hour). These sessions pseudo-randomly group an Application with a new set of Nodes to provide service within a limited time window.
Each Node operator has an equal chance of being chosen in an available Session, regardless of staked amount, but can receive a higher rate of rewards after being randomly selected for a session if the node stakes a higher amount of POKT.
As a reward for providing this important infrastructure, Blockdaemon’s clients receive an amount of the native POKT token as a staking reward. This staking reward is in proportion to the amount of throughput (i.e. data relays) served during the session.
Blockdaemon facilitates POKT staking for clients by offering white-label validator nodes and public validator nodes.
Staking POKT requires a node security deposit of between 15,100 - 15,500 POKT tokens. That said, in order to optimize your returns, Blockdaemon recommends a minimum bond of 60,100-60,600 POKT tokens. These are staked to a node operated by Blockdaemon, with an unbonding period of 21 days.
Blockdaemon is ISO 27001 certified, a first in the staking industry, and a testament to the level of security and compliance that Blockdaemon abides by in order to protect its customers.
Blockdaemon’s 100% slashing and double signing insurance guarantee also protects all clients from any risk of slashing on Pocket Network.
By combining Blockdaemon’s institutional-grade node support with Pocket Network’s rich tech stack, Blockdaemon is positioned to support the chain’s institutional and developer adoption long into the future.
We’re proud to offer our industry-leading ‘node stack’ and expertise to support Pocket Network’s ongoing success. We aim to provide a single staking integration for Pocket Network’s cohort of builders.
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