The Zilliqa network, known for its secure and high-throughput blockchain platform, is taking a significant step forward with the introduction of Staked Seed Nodes (SSNs). These SSNs are set to reshape how users engage with the Zilliqa blockchain.
At their core, SSNs are a specialized type of seed node within the Zilliqa network. They serve crucial roles, including handling API requests, forwarding transactions to lookup nodes, and maintaining a decentralized record of all network transactions.
What sets SSNs apart is their ability to provide direct access to the Zilliqa network through a public and open API. This simplifies interaction with the blockchain, eliminating the need for users and developers to run their own seed nodes.
Intriguingly, SSNs come with an incentive system. To become eligible for block rewards, SSN operators must stake a minimum of 10 million ZIL in the required smart contract. This ensures a commitment to supporting and servicing the network. A Verifier continuously monitors compliance with staking requirements and service quality. Operators meeting these criteria receive a share of the total block rewards. Operators can withdraw their stake, but this results in being deregistered from the SSN list and a loss of reward eligibility.
However, SSNs aren’t just for operators; they offer opportunities to ZIL holders as well. ZIL holders can delegate their tokens to a preferred SSN, allowing them to share in the rewards generated by the SSN. The more tokens delegated, the larger the portion of rewards received.
Getting started with staking is user-friendly, with platforms like Zillion providing a seamless experience. By connecting their Zilliqa wallet, users can select their preferred SSN, specify their stake amount, and begin earning rewards. It’s worth noting that SSN operators may charge a small commission fee for this delegation service. Users can also switch SSNs or withdraw their stake, but a minimum lock-up period incentivizes long-term participation.
While SSNs currently do not actively participate in the Zilliqa network’s consensus mechanism, there are exciting changes on the horizon. The network’s roadmap includes a shift to a Proof-of-Stake (PoS) consensus system, in which SSNs will play a pivotal role in enhancing network security.
A recent proposal suggests integrating SSNs into a hybrid consensus model alongside existing Proof-of-Work (PoW) mining nodes. Initially voluntary, this integration is set to become mandatory as the hybrid consensus mechanism gains strength and widespread adoption.
These developments are part of the Zilliqa 2.0 vision, promising a more sustainable future for the network. This vision includes reduced CO2 emissions, enhanced security, zero inflation for ZIL, and lower operational costs for network nodes. The introduction of SSNs marks a significant step forward in achieving these goals, making the Zilliqa network more accessible and rewarding for all stakeholders.
