Step by step Proof of Stake
Autor: Andrzej Mackowiak 05.10.2023r.
It must be admitted that the Flare Network is constantly evolving, and its creators are constantly introducing changes and improvements without unnecessary publicity, to which we, participants in the crypto market, have been accustomed to for years by most projects. Often, a lot of hype has a positive impact on the token price, but this is only a temporary state followed by a backlash. Those market participants who deliberately created euphoria leave with a few dollars in their pockets.
In my opinion, excessive project promotion without the backing is short-sighted and destructive in the long run for a project. Events such as fulfilling the project’s promises and assumptions should be required of the creators, not an opportunity to generate the aforementioned hype and elevate the project to a pedestal. Therefore, the strategy adopted by the Flare team, which is to build in silence and announce achievements after the fact, is a very positive message that testifies to the serious and honest approach of the creators.
During the several months of the project’s operation, we have witnessed a gradual and careful introduction of changes – step by step. First tests on the Coston network, then implementation on the Canary network – Songbird. This was the case with the State Connector protocols. The Flare team presented an example of the use of new protocols for cross-chain transactions a few months ago.
Flare Network’s proof-of-stake migration
It is no different now with the transition of the Flare Network to the proof-of-stake consensus. The entire process was tested by selected Signal Providers (FTSOs) on the Coston network, but its implementation will take place only and exclusively on the “production” Flare Network. The Songbird network will remain in its current form.
The process of transitioning to the proof-of-stake consensus model began in July of this year. In this initial phase, 33 independent FTSO data providers were selected to be implemented the protocol. The new entities joined the existing 20 professional validators that have been operating since the inception of the Flare Network, thus increasing the total number of validators to 53.
As part of the transformation of the Flare Network and the implementation of the proof-of-stake consensus, the Flare Network, due to the fact that it is a direct fork of the Avalanche protocol, also adopts its architecture. The Flare Network consists of three chains:
C-chain: on which the Ethereum Virtual Machine runs and with which the vast majority of the community currently interacts.
P-chain: on which staking takes place.
X-chain: which is intended for fast and simple monetary transactions and is currently not in use.
The entire process of transitioning to the proof-of-stake consensus takes place in three phases. In each phase, independent validators (selected from among FTSO providers) are added, who are responsible for verifying transactions and securing the network. In the near future, it will be possible to stake your FLR tokens with them.
Validators will agree on the state of the network using the Avalanche Snowman++ consensus algorithm. In each round, a validator is randomly selected to play the role of leader and propose new blocks to add to the network. These blocks are then validated by the remaining nodes. To ensure resistance to Sybil attacks, the probability that a node will be selected as the leader is proportional to its stake, which is the result of achieving proof-of-stake consensus.
The three phases of the transition to Proof of Stake.
Every validator on the Flare Network that decides to participate in one of the three phases must be verified and must also be an FTSO data provider. All FTSOs combine the role of validation with the provision of decentralized data. These entities are referred to as Infrastructure Providers.
This minimizes the occurrence of bad actors on the network. There is a risk that if we stake to a validator that is banned or chilled (for a certain period of time) in the meantime, our potential staking rewards will be lost. Therefore, it is important to do your research before making a decision about where to send your funds, not just relying on the promised return. It is also worth noting that unlike delegating to FTSOs, when staking, we lose control over our funds for the selected period of their locking.
There are multiple ways to verify the Infrastructure Providers. Here are a few:
Visit this websites to read about FTSOs and IP:
– Flare Dashboard (Independent dashboard and database for Infrastructure Provider information)
– Flare Builders – Projects Building on Songbird & Flare Networks (The Ultimate List of @FlareNetworks IP)
A few words to the community
We would like to announce that our team has been qualified for the second phase of the implementation of the Proof of Stake protocol. FOCUS TSO is taking on the role of Infrastructure Provider. This means that in addition to delegating tokens to FTSOs, it will also be possible to stake FLR to our validator!
Taking this opportunity, we would also like to thank the entire community, without which this would not be possible. It was you who added piece by piece to the whole puzzle, while we, motivated by this support, gave our all to develop. We do not stop there and we assure you that we will work even harder to develop both our community and the tools on this network.
We have many challenges ahead of us. In addition to developing the existing infrastructure and improving the algorithm for FTSO, the option of providing attestation for the State Connector will soon appear. In this context, the phrase #ConnectEverything takes on a new meaning.
Once again, thank you for supporting us from the very beginning. We have a long and exciting road ahead of us.