In this episode of the DeFi Download podcast, Piers talks with Pol Lanski, Project Lead of Dappnode, about the benefits of running a validator node in a decentralised network like Ethereum or Bitcoin, and how Dappnode makes it simple for anyone to do so.
Dappnode is a platform that allows users to run validator nodes and participate in decentralised networks without needing technical expertise. It promotes network security and decentralisation while supporting economic accessibility through its liquid staking derivative (LSD) networks and other tools.
The platform is an open ecosystem that allows anyone to contribute and build on it. With its LSD networks, it offers an alternative to those who cannot afford the 32 ETH required to run an Ethereum validator. This enables participation in staking and earning rewards without the full amount of ETH required for a validator node.
Dappnode manages node updates and operations through software and provides a dashboard to monitor performance. Users can purchase hardware from the Dappnode website or use their own.
[01:09] Why is it important that anyone be able to run a validator node?
[04:15] What is the intellectual leap from using IPFS for file storage and website hosting to running nodes on Ethereum?
[09:10] Piers highlights the importance of syncing up with consensus in decentralised networks and explains how Infura offers a useful solution in this context. Dappnode is an alternative to relying on third-party services, allowing users to run their own nodes. Apart from decentralisation enthusiasts, who else could benefit from running a full node?
[15:18] Piers discusses Ethereum's shift from proof of work to proof of stake, emphasising the importance of decentralisation in Ethereum's design and mentioning that running a validator node with at least 32 ETH can earn fees and contribute to the security of the network. Dappnode is a way to make running a node easier. What was involved in running an Ethereum node before Dappnode came along?
[24:25] Piers mentions that the software Dappnode offers manages the work of checking for and running updates and ensuring they are running correctly. Dappnode’s website also gives users the option to buy the necessary hardware. What kind of guarantees are there around the software being up to date and running once installed?
[25:40] Within what timeframe does Dappnode typically do the updates?
[26:47] Piers emphasises the importance of users being able to monitor the performance of their staking. Has Dappnode developed any dashboarding solutions for this purpose?
[30:36] The staking amount required for Ethereum's validator software has decreased from 10,000 ETH to 32 ETH. While this is a significant reduction, 32 ETH remains a considerable amount of money. Are there any solutions provided by Dappnode for individuals who wish to participate in the decentralised revolution but cannot afford 32 ETH?
[34:50] Piers mentions the debates surrounding the use of Delegated Proof of Stake (DPoS) versus Proof of Stake (PoS) in blockchain technology. When can we expect Dappnode to make this technology available for those who want to get involved but don't have a large amount of capital to invest?
[39:39] Where can you find out more about Dappnode and how to get involved?