Rocket Pool – platform validators pools of Ethereum after the transition to PoS

Continued for more than half a year delay with the transition network Ethereum at the PoS has led to the fact that the miners have ceased to be afraid of losing their job. As is usually the case at this time and begin real change. First, the Fund Ethereum finally decided on the order of the transition at PoS.

The transition will be gradual, and the first part is the superstructure over the existing Protocol PoW – Casper FFG in which the validators will sign every fiftieth block (this means that transactions are rolled back deeper than the last signed/finansirovanija block will be impossible) will be implemented in hardwork Constantinople at the end of 2018. In the second, Casper FFG for the past two months working on a test network Ethereum. Finally, in February and March, the developers of Ethereum has made a number of statements clarifying the economic policy of the Ethereum.

In the description of Casper FFG, dated October 17, 2017, acne Buterin writes:

Casper reaches a consensus, with validator, which is provided by ETH deposits frozen for quite a long time. If the validators are not able to keep their nodes online in continuous mode or be involved in unscrupulous activities, their components can lose up to 100% of the deposits.

Answering a question from a Reddit user, Buterin explained what happens to forfeited deposits:

96% of the confiscated tokens will be burned, and 4% receive node, provide evidence of unfair activities.

This position he argued that if «the informer» will receive 100% of the forfeited Deposit, he thus get the opportunity to carry out the same attack, but free.

In the original works of the founders of Ethereum repeatedly pointed out the undesirability of creating large pools of validators, as this reduces the degree of decentralization of the system. However, apparently, since then their position has changed. As of March 2018, a test version of Casper validatorschema requires a minimum Deposit of 1500 ETH. Commenting on this figure, Buterin confirmed that, «most likely, it will be approved, at least for the first time».

A high threshold creates the problem: large holders will be able to earn, and small – no. In accordance with Etherscan, only 0.2% (from 5726 28 549 773) addresses Ethereum have a balance of 1500 and above ETH. Moreover, for a Deposit can take a large amount, because the likelihood of the appointment of the validator on the block is weighed by the amount of his Deposit. The test network has no clearly prescribed limits on the number of validators, but there is a theoretical maximum of between 1000 and 1500 nodes, based on the current bandwidth Ethereum.

The developers of the Casper learned to evade answering the question: «What will be the reward of validators to Casper?», however, from recent discussions it is possible with high probability to assume that it will total about 5 – 10% in ETH.

Australian startup Rocket Pool
developing a platform validators pools, which will allow the holders to earn the amount of about 0.1 ETH. The minimum bid will vary, depending on the price of ETH.

Another two features Rocket Pool may be attractive to users:

  • Casper requires validators provide a connection to the network 24/7 and in-depth knowledge of smart contracts. Rocket Pool takes this part of themselves by offering simple interfaces.

  • Early withdrawal: validators do not have this capability. Rocket Pool allows you to withdraw funds prematurely in native tokens RPD with 5% Commission. These tokens can be sold on the market.

  • The principle of operation of Rocket Pool

    The process of transport of air from the user’s wallet to bet Casper consists of three steps:

  • Custom purse creates a Deposit of ETH on smart contract, and selects the period with the help of a simple web application. A minimum of 0.1 ETH, term 6, 9 or 12 months.

  • Smart contracts are «Packed» ether minpoly with the same time and integrate them into «smart nodes», with all the technical resources (server, CPU, memory, bandwidth), as soon as they meet the minimum amount established by the Protocol.

  • Smart nodes make bets on Sarah receive remuneration for their work and distribute it. The system charges a fee, the amount of which depends on many factors like, price ETH, a compensation network, the type of equipment and the optimal number of minipool to the host.

  • Interface Rocket Pool looks like this:

    The economic model Rocket Pool

    Economy pool consists of two types of tokens:

    Rocket Pool Token (RPL) – token Protocol that underlies the entire system of the pool. RPL 18 million were sold in the ICO to the end of 2017. Its main function is to demonstrate the entire network, what kind of Deposit can expect this smart host – it should contain as much RPL, how much the node can use to rate, taking into account its technical characteristics (CPU, SSD, memory, network speed). In the future, the operator of the smart host can be a third party professional hosting company.

    Rocket Pool Deposit (RPD) – token is a utility that allows users to make an early withdrawal with the loss of 5% Commission. In addition to this fee, for early withdrawal, the user loses the right to the earnings from his live – this amount goes to increase the liquidity of the contract RPD.
    Early withdrawal works like this: there is a Deposit in Rocket Pool 5 ETH with a term of 12 months. After 5 months the user for any reason decides to withdraw the funds. Smart contract RPD RPD will issue 4.75 (-5%) and passes them to the user. These tokens can be sold on the market OR exchange them for ETH directly to your smart contract, if any. The RPD contract contains a variable amount of air from a source that the early insights of other users and their unearned rewards

    Conclusion

    The above description of the mechanism and the Economics of the project Rocket Pool in any way should not be construed as a promotion of this project. After all, to run only the first element of the Protocol, Casper is not less than six months, and before the tokens RPL can be seen as a purely speculative asset. In addition, did not yet know about the most important element Casper – the mechanism offers units designed to completely replace PoW whose turn will come only after full processing Casper FFG in the core network.

    Rocket Pool to date, is the only developed draft validatorschema pool for future PoS Ethereum. Its closest competitor 1protocol
    for a year and a half and have not reached the stage of White paper shows no visible activity. Of course, for the remaining time there will be many new projects on this subject, however, the example of Rocket Pool you can see the approximate scale of the challenges facing developers.

    But those who do not accept oligopoly mynarski and validators pools, you should pay attention to the project Rchain, which from the beginning of implementing the option Casper CBC Vlad Zamfir (Vlad Zamfir), a convinced opponent of such an oligopoly.

    For in-depth study:

    White Paper Rocket Pool

    Repository Rocket Pool

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