SafeStake

February has been another rewarding month for ParaState and the SafeStake community. We will look at some of the highlights in this edition of our monthly newsletter. As always, we want to first thank our community for all the support we continue to receive on all our official social channels! You are amazing!<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/3cda1c847f57483092f92ff1393ab7b0.jpg" />In the past, we have introduced you to some of SafeStake’s technical aspects. Now, our developers provide interesting insight and details about SafeStake’s unique implementation of Distributed Key Generation (DKG). In our opinion, DVT is one of the most important new developments in the Ethereum ecosystem. The tech allows a validator key to be split into a multi-signature construct (multiple key shares) and makes it possible for multiple participants to sign messages as a group. We believe SafeStake will be the first protocol in the DVT space (SSV, Obol Tech) to deploy true Distributed Key Generation (DKG) at the protocol level. <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/49a8743741024eb3b179ed84fdff2954.jpg" />To dive deeper into a detailed analysis of how SafeStake’s DKG works, please read the full article<a href="https://medium.com/ethereum-on-steroids/safestake-the-first-protocol-to-deploy-dkg-in-dvt-segment-821f9826cda6" rel="noopener noreferrer nofollow"> SafeStake - The First Protocol to Deploy DKG in the DVT Segment</a>.Throughout February, we focused on improving the SafeStake product and on 25 Feb, we announced the successful merge of a new iteration of source code to the Galileo public testnet. The upgrade introduces the first major use case for the STATE token ($STATE) as a payment device between validators and operators.Read more about the upgrade here: https://parastate.substack.com/p/galileo-testnet-major-upgrade?utm_source&#61;substack&amp;utm_campaign&#61;post_embed&amp;utm_medium&#61;web We also updated the content on our website to provide a better view of how SafeStake will help decentralize the Ethereum ecosystem and ETH staking with distributed validator technology (DVT). We also moved the official SafeStake website to a new URL - https://www.safestake.xyz<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/cc290b1300e04b48ae475a0c2ddb17df.jpg" />If you are interested in claiming testnet $STATE via the Twitter faucet or Discord faucet:<ul><li><a href="https://github.com/ParaState/SafeStake-Twitter-Faucet/blob/master/claim.md" rel="noopener noreferrer nofollow">https://github.com/ParaState/SafeStake-Twitter-Faucet/blob/master/claim.md</a></li><li><a href="https://github.com/ParaState/SafeStake-Discord-faucet/blob/master/claim.md" rel="noopener noreferrer nofollow">https://github.com/ParaState/SafeStake-Discord-faucet/blob/master/claim.md</a></li></ul><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/53db50d54447405f89b6c3783d42d76a.jpg" />SafeStake Community Roles &amp; Rewards! <img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/467e9a1cdb084c839447987787a6d56d.jpg" />Our community roles and rewards program continues, allowing active community members to earn XP for participating in our social channels and contributing in a positive way! The more XP you earn, the higher roles you can achieve the more $STATE you can earn.If you are not yet familiar, we have created 5 levels of ‘SafeStake Warriors’ that will be automatically given to community members when they reach specific Discord levels, based on the XP they have earned.  Active participants in our Discord community have the chance to earn from a pool of 511,500 $STATE by earning XP to achieve different &#39;SafeStake Warrior&#39; roles.If YOU HAVEN’T ALREADY, HURRY ON OVER TO OUR DISCORD SERVER AND JOIN THE ACTION TODAY! GOOD LUCK LEVELING UP THE SAFESTAKE WARRIORS!Find all the details about how the community roles and rewards program works <a href="https://parastate-safestake-community.notion.site/Active-Community-XP-Rewards-Program-0d7a64e2bada47409b1e15afcd656744" rel="noopener noreferrer nofollow">here.</a><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/26cd201997a14284af7fac067dd783d2.jpg" />February also saw the first SafeStake Community XP Giveaway on Discord!From the 16th to the 21st of February, all Verified community members had the chance to participate in the giveaway. We randomly selected 3 winners and sent 500 XP to &#64;Jaya &#64;Ramstrong &#64;Rem Leu. Congratulations to our winners!Additionally, our team was busy writing, editing, and publishing several blog articles this month for those of you who want to learn more about Ethereum, ETH staking, and the SafeStake project:<a href="https://link.medium.com/UUiMWYqfNxb" rel="noopener noreferrer nofollow">How DVT Improves ETH staking</a><a href="https://link.medium.com/X8gY3hyfNxb" rel="noopener noreferrer nofollow">The Myths and Realities of the Ethereum Shanghai Update</a><a href="https://link.medium.com/BKRcMKIfNxb" rel="noopener noreferrer nofollow">The threat of centralization in Ethereum: SafeStake and the use of DVT</a><a href="https://link.medium.com/D10wdqPfNxb" rel="noopener noreferrer nofollow">Crypto sectors review. Charts and numbers</a>About ParaStateParaState 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>

ParaState’s Newsletter

SafeStake

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