SafeStake

At the time of writing this post, there was news of great relevance to the blockchain community, especially for Ethereum and everything that revolves around it such as SafeStake.According to Ethereum Devs, the Ethereum mainnet officially merges with the Beacon Chain on September 19, 2022.Given the importance of this news to the entire industry, and especially for the ParaState ecosystem, we want to make a brief comparison of the staking architectures among the current solutions of the three major Ethereum 2.0 staking providers: Rocket Pool, SafeStake, and SSV.Network.But before looking at the key points that differentiate our SafeStake solution from the rest of the options available for ETH2.0 Staking, let’s recount how ETH2 staking works in general.How does ETH2 staking work?Let us remember that staking in Beacon Chain (ETH2) is carried out through validators, a single ETH2 address in which 32 ETH are deposited to help the network maintain the security and consistency of the chain, certifying that each proposed block contains transactions. legitimate and valid.<img src="https://miro.medium.com/max/1400/0*FS2iv6YxnOwhkaX1" />These validators on ETH2 are assigned attestations and block proposals on a schedule, very different from Ethereum’s current PoW system where everyone is constantly trying to compete with each other for block rewards.In the new ETH2 (PoS) that is currently running in the testing phase before the September launch, validators earn constant income as long as they perform their specific functions, with slight penalties in case they are offline during consensus.For now, until ETH2 withdrawals are enabled (expected in 2023), there is currently no way to access staked ETH or its rewards, unless validators voluntarily relinquish their duties.Precisely because of the above, there are solutions such as SafeStake to be able to execute these functions and receive rewards even before the next stage of the ETH2 schedule known as ‘The Merge’ occurs.To understand how decentralized solutions like SafeStake work, let’s look at the key features of its architecture that set it apart from other options like Rocket Pool or SSV.Network.SafeStake ArchitectureSafeStake is a trust minimized middle-layer fostering the decentralization of ETH2.0 staking that has an architecture resistant to attacks and slashings due to inactivity during the validation of ETH2.In this resilient validator architecture, Operators and Validators carry out a threshold signing under the HotStuff consensus algorithm in order to minimize the validator’s slashing odds and contribute to the security of ETH 2.0 staking.Additionally, SafeStake’s code base is written in Rust, the king of programming languages, to prevent memory-related bugs and vulnerabilities.<img src="https://miro.medium.com/max/1400/0*mE5aUMyhWFKf4wAl" />This architecture is designed to offer a more robust and secure staking protocol for Ethereum 2.0, where the validation flow occurs in a few simple steps with the best possible security measures in the industry:1.- A user deposits 8 ETH, the minimum amount required in SafeStake to become a validator2.- SafeStake allows validators to split the validation key into several shares, which will then be distributed to several operator nodes. These nodes will jointly perform the validation task.3.- It is worth noting that during the setup when registering as a validator, the user (validator) can select the operators from a list available in the protocol.4.- After the operators have the validation key share, they communicate with each other to achieve consensus with HotStuff and run the threshold signature scheme to perform Eth2 validation taks for the validators.This process reduces the security risk to prevent those operators from recovering the validation key. There will be no single point failure under such non-custodial infra, unless more than enough (3F&#43;1) operator nodes got compromised for the adversary to launch a successful attack.5.- Due to the fact that the user has only deposited 8 ETH, and Ethereum 2.0 staking requires a minimum of 32 ETH, SafeStake creates a novel solution to be able to execute staking with a low barrier for users: It introduces the concept of minipools of 8 ETH.Thus, the minipool enters the minipool queue and subsequently enters the Beacon Chain (ETH2) queue when the local staking pool can provide the extra 24 ETH to correctly execute the Ethereum 2.0 staking contract<img src="https://miro.medium.com/max/1400/0*tPy6lYRYa_jhOUq1" />Since we have explored the validation scheme within the SafeStake architecture, it is worth highlighting some fundamentally key characteristics with respect to other solutions, like Rocket Pool, SSV.Network, Obol and/or Lido Finance.<ul><li>Unlike competitors, the minimum ETH holding amount for a validator of SafeStake is 8 ETH, which is lower than the 32 ETH supported by the SSV Network or 16 ETH supported by Rocket Pool.</li><li>The code of SafeStake is written in Rust, which enables advanced security enhancements and better performance for processing large amounts of data and other CPU intensive operations. Most of the workarounds for ETH2 Staking are written in Go, or other last level languages with few implementations in Rust.</li><li>SafeStake guarantees consensus among validators using the HotStuff algorithm, the first partially synchronous BFT replication protocol. It is more robust than iBFT/qBFT applied by solutions like Obol or SSV.Network.</li><li>With HotStuff as a consensus algorithm, users can rest assured in SafeStake that the protocol helps minimize the validator slashing odds, especially for those who want to run their own node on physical machines where they may face power outages, component failures, at the ISP etc.</li><li>Our framework is the threshold signature scheme, applying the most advanced cryptography currently available in the blockchain industry, with a basic setting similar to SSV.Network for example.</li></ul>Note in order to achieve proactive security, each node operator on SafeStake always deletes the old share so that the adversary cannot simply gather the old shares to recover the key secret and compromise the 8 ETH minipool funds. SafeStake is a completely non-custodial infrastructure.<ul><li>In order to ensure decentralization within SafeStake and eliminate centralization in the ETH 2.0 Staking solution, ParaState DAO is the decentralized organization that maintains the network and is also responsible for the maintenance and governance of the staking network, similar to other solutions like Lido Finance, SSV.Network or Rocket Pool.</li><li>Compared with other options like Rocket Pool, SafeStake no need to count on an oracle to monitor the operators whether they will front-run to claim all Eth deposits when it exits from the Beacon chain.</li></ul>As you can see, our general architecture is similar to that of the SSV.Network, Obol or Rocket Pool with some key differences and technological improvements that make us one of the most effective decentralized solutions to participate in ETH2 Staking.About ParaStateParaState takes Ethereum chain support to the next level through WasmEdge. Develop and execute high-speed smart contracts with built-in Ethereum compatibility (EVM and EWASM) and interoperability in next-level programming languages like Rust, C &#43;&#43;, and Golang.ParaState is participating in ETH2.0 PoS Staking with a new tech stack called SafeStake, a trust-minimized, middle-layer fostering the decentralization of ETH2.0 staking. SafeStake is a non-custodial infrastructure for distributed validator technology written in Rust, implementing HotStuff consensus and Threshold signing architecture to provide more robust security for ETH 2.0 PoS.<a href="https://www.parastate.io/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://medium.com/ethereum-on-steroids" rel="noopener noreferrer nofollow">Blog</a> | <a href="https://twitter.com/_ParaState" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://t.me/ParaState" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://discord.com/invite/zFS3Mnfpwj" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://github.com/ParaState" rel="noopener noreferrer nofollow">Github</a>

ETH2 PoS Staking Infra: Comparing Staking Architecture Amongst Safestake and Similar Solutions

SafeStake

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