Announcing the AZERO Domains Community Validator
We are happy to announce that we are setting up an AZERO Domains Community node to support the decentralization of the Aleph Zero Blockchain. To ensure maximum security, we partner with our friends from Swiss Staking, an institutional-grade staking infrastructure provider based in Luzern, Switzerland.
Link to Staking Tutorial: https://swiss-staking.medium.com/stake-your-azero-with-builders-38735ba2e449
Why Decentralization Matters
The introduction of decentralized ledger technologies has given rise to today’s extensive crypto ecosystem. An entire industry with countless applications and use cases has emerged based on smart contracts. However, all of this is missing the fundamental premise of the crypto ecosystem without sufficient decentralization.
The main properties and values of decentralized blockchain systems include the following:
- Security: Because decentralized systems are distributed among multiple parties, it is more difficult for a single party to compromise the system. This makes decentralized systems more secure than centralized systems, which can be more vulnerable to attacks.
- Transparency: Decentralized systems are often transparent, which means that all transactions and changes to the system are visible to all parties. This helps to ensure that the system is fair and accountable.
- Immutability: In a decentralized system, once a transaction or change has been made, it cannot be reversed or altered. This helps to ensure the system's integrity and prevents fraud or tampering.
- Censorship Resistance: No single party can censor or block transactions in a decentralized system. This makes decentralized systems resistant to censorship and allows for more freedom and autonomy.
Creating Value for the AZERO Domains Community
In addition to supporting the decentralization of the Aleph Zero network, the AZERO Domains community node contributes to a sustainable long-term funding strategy for the project. All commissions awarded to AZERO Domains will go into direct project funding to support the growth of the project and the AZERO Domains ecosystem.
The AZERO Domains community validator will start with a low commission of 2%, which might be increased over time aligned with the commission-rate schedule of the Aleph Zero Foundation. This helps to find a healthy market rate covering the associated costs of running an institutional-grade node setup.
Next to the general staking rewards of around 12% APY, AZERO Domains nominators may be rewarded with additional perks in the future.
Teaming up with Swiss Staking
To ensure the highest security for all our nominators, we are teaming up with Swiss Staking, an established staking provider with various experiences validating Proof-of-Stake Blockchains such as Cosmos, Ethereum, Chainlink, Avalanche, NYM, Osmosis, Evmos, and many more. Besides that, they are trusted by Swiss institutions and have over 39,000 retail clients.
This partnership enables us to focus on developing AZERO Domains while having the confidence that all nominated funds are in the best hands possible. We believe this step is another significant milestone for the AZERO Domains community and further benefits the decentralization of Aleph Zero.
Follow the steps in this tutorial by Swiss Staking to start staking or change your nominated validator. Happy staking!