In all blockchains, node operators are running their nodes to operate and secure the network. And the compensation model of the blockchain allows node operators to get compensated for maintaining/operating the protocol. On Partisia Blockchain the compensation is a mix of BYOC fees and rewards in MPC tokens. Rewards come from the ecosystem pool used to bootstrap the operation of the network.
Currently the distribution of rewards is the same for staking directly by a node operator account as for any other account that delegates staking to a node operator. On the other hand, node operators receive all BYOC fees. However, at this early stage of the network the main compensation as node operator is the rewards. Hence, to make the total compensation more fair to the node operators operating the network the following adjustment will be put up for voting among node operators: 2% of the rewards gained by delegated staking to be distributed to the node operators that they are staking to. This will allow a fairer staking rewards system where the node operators running the system will be compensated by the community stakers for providing the computing power to stake their tokens to and receive rewards.
A simple example for a community staker would be if the reward for your current period was 100 MPC tokens, during the rewards computation, 2 MPC tokens will be sent to the node you are staking to, and you will receive 98 MPC tokens. This will fairly compensate the node operator for operating the blockchain you are staking to receive your reward.
If you are a node operator, you will receive 2% of all the staking reward your node account generated for all the community stakers you are supporting.
As this is a governance matter for the chain, the proposal will be put to a vote for the block producing node operators to decide on. We suggest for those who are staking, that you reach out to your respective node operators and voice your thoughts with them directly. If passed, this will be implemented as a part of the Q6 reward cycle and subsequent cycles going forward.
We hope this will help create a more fair rewards distribution as well as promote node operators to continue to promote their nodes to the community to stake to.
Thank you for your continued support!
ZUG, 18 SEPTEMBER 2023. Partisia Blockchain is proud to announce the launch of a pioneering integration with MetaMask, the leading self-custody Web3 platform developed by Consensys, opening untapped opportunities for more than 100 million users. With the introduction of MetaMask Snaps, a transformative enhancement for users, we are poised to revolutionize the world of decentralized applications.
Snaps opens a new realm of possibilities for Partisia Blockchain users by leveraging MetaMask’s trusted functionality. The initial Snap integration brings MetaMask signing to Partisia Blockchain users, and opens up an array of innovative programmable features and functionalities within their wallets. After a meticulous selection process, Partisia Blockchain was selected by MetaMask based on the Snaps integration work done by our developer team. The Snaps is set to elevate the user experience, focusing on transaction insights, interoperability with non-EVM blockchains, and notifications, offering users unprecedented control and customization.
In 2022, MetaMask surpassed 100 million users. The launch of Partisia Blockchain Snaps marks a significant milestone as millions of MetaMask users can tap onto our innovation. Each Snap selected by Consensys has undergone rigorous security audits and has been thoughtfully integrated into MetaMask’s allowlist, ensuring a secure and seamless experience for users.
Kurt Nielsen, President of the Partisia Blockchain Foundation, says: “The major driver behind the Partisia Blockchain project is the disruption of data as we know it. With the MPC-as-a-Service built directly into the Partisia Blockchain, any service on the internet can build the next generation of privacy-preserving advertisement, searching or matching services without touching the users’ data. This is a tremendous opportunity, and a large part of the motivation for building the Partisia Blockchain in the first place. While the Partisia Blockchain network is ready, we need to bring in the users of the internet and activate the users’ private data. This is the next major step and why the integration with MetaMask is a major step forward.”
The benefit of the first Snaps iteration is the ease of using MetaMask for transaction signing. It will enable users, which also use other blockchains, to employ a single trusted wallet across chains and remove friction. The ease of cross-blockchain solutions — such as bring your own coin (BYOC) and MPC-as-a-service — will be significantly more user-friendly. In the future, the Partisia Blockchain MetaMask Snap will offer more features helping users secure their confidential personal data by employing MPC technology.
The Partisia MetaMask Snaps will enable developers building on Partisia Blockchain to integrate MetaMask as the signing solution into their own dApps and establish a direct connection with their users. In the long run, users will reap the benefits of the convenience and versatility offered by Partisia Blockchain Snaps, tailored to various use cases and compatible with multiple protocols.
Kurt Nielsen continues: “The Snaps that come with MetaMask allow us to build security solutions that safely and privately bring the more than 100 million users’ data into Partisia Blockchain and the next iteration of the internet — an evolution where technology returns control and privacy to the users of the internet.”
Christian Montoya, Product Lead for MetaMask Snaps, emphasizes the importance of permissionless innovation within a decentralized system: “We believe that permissionless innovation is a cornerstone of a decentralized system — no gatekeepers. Innovation thrives at the pace of the network, not just within an individual development team at Consensys.”
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About Partisia Blockchain: Partisia Blockchain brings unparalleled opportunities by empowering privacy-preserving, interoperable and sustainable innovation for fairness and transparency. It fuels the most secure and efficient networks to solve global problems. Distilled with 35 years of rigorous research, Partisia Blockchain future-proofs solutions, solves tomorrow’s challenges by powering fair, secure, distribution of benefits. While preserving privacy and confidentiality, it brings accountable, transparent and decentralized governance. Learn more: www.PartisiaBlockchain.com
About Consensys: Consensys is the leading blockchain and Web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the Web3 ecosystem. Through our product suite, we have become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dApp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop on. To explore our products and solutions, visit https://consensys.io
As explained in our BYOC documentation, Partisia Blockchain (PBC) has a multi-chain solution where gas for transaction in PBC is paid using external coins. To help developers add additional tokens into the chain, we have a framework that allows anyone who meets the requirements to add other tokens as a bridgeable asset and include them into the payment system. This document’s aim is to provide instructions on how you can add other tokens into the Partisia Blockchain ecosystem.
Currently the framework supports any tokens that run under Ethereum, Polygon or BNB chain. As other L1 chains get added, other tokens will become available under the BYOC Framework.
In the coming weeks we will provide additional guides and videos to walk you through the process, for both the node operators and the proposer. We hope this article will help you begin to consider what tokens you would like to onboard as payment.