Mission-critical blockchain infrastructure.
Dedicated Engineers
Linux engineers with experience designing and monitoring secure computer systems for blockchains since 2013.
Tier 4 Data Centres
Tier 4 data centers across 3 regions provide the highest level of protection and uptime for delegated assets.
DDoS Protection
We employ a vast array of DDoS, security and monitoring best practices to secure our infrastructure.
Data Protection
Fully-managed data protection to automate and consolidate backup tasks across AWS services.
Staking 101
In 2008 Bitcoin solved a major cryptographic challenge faced by digital currencies up to that point. The centralized nature of past designs left them vulnerable to attack from hostile entities.
The nakamoto consensus model which makes this possible requires a distributed set of node operators "miners" to burn energy by solving math problems with computers. They compete with other nodes to earn a block reward which provides the incentive for them to process the transactions. This system is called "Proof-of-Work" PoW.
But with a healthy urge to innovate and experiment some chains are switching to "Proof-Of-Stake" PoS. In the PoS system node operators must put cryptocurrency at "stake" instead of solving math problems and are paid a fee for processing the transactions.
PoS allows for any individual, group or business to participate in the operation of these blockchain networks and in some cases participate in the governance of the protocol itself. Anyone with the required technical knowledge to design and administer resilient IT infrastructure can run a node or become a validator. We encourage everyone to try and setup a node.
But you may not have the required minimum balance of cryptocurrency required to become a validator. Or lack the time and technical capability to secure a node. That's where delegation comes in. Along with other users you can delegate your cryptocurrency to an experienced node operator. They do the heavy lifting for you in return for a percentage of the staking rewards.
But the benefits of this new bankless financial system still apply. Staking is non-custodial so while the cryptocurrency is delegated to a node, you still control the private keys so you can unbond your delegation whenever you wish. The only caveats being, most protocols have a 21 day freeze before you can spend the released collateral and rewards. Also if the node you delegate to behaves maliciously and is penalised some of your stake can be 'slashed'.
Sentry Node Architecture.
DDoS Mitigation
In this example we explain just one of the DDoS methods used in the staking industry. Full nodes run the blockchain software and keep a copy of the blockchain ledger. But they can also act as a validator on the network, proposing new blocks and voting to accept or reject proposed blocks. Validators need to be very secure so that vital key data is not stolen, they will be punished if they act maliciously, and for this reason should not be directly accessible from the public internet.
The sentry nodes are accessible from the public internet and are in direct communication with the validator node. They can handle a large amount of traffic on behalf of the validator. New sentry nodes can easily be spawned if the whole setup is under attack by a malicious actor, or if any sentry node crashes.
Security Best Practices
Other security best practices that we employ vary depending on each chain and the security key options available. In terms of connection we favour VPN and secure shell best practices as per this guide. We finely tune and monitor firewall and access control lists in reaction to adversary behaviour. And finally we architect our infrastructure to make it robust, cost effective and secure.
Band Protocol.
Band Protocol Rewards
The current inflation rate for staking Band Protocol is 10.21% APY. This is the return awarded to you for staking and is subject to change based on Band Protocol's governance. We have no ownership or access to your crypto wallet or private keys.
Our Band Protocol Fees
Our staking fee for providing infrastructure is 8%, compared to an industry standard of 10%. This is automatically deducted by Band Protocol itself. As part of our mandate in running Band Protocol validator nodes we must also provide decentralized oracle services via a REST API to end users of Band Protocol.
Benefits
You maintain custody of your BAND at all times. We provide the world’s most advanced multi-cloud staking infrastructure. We actively participate in the Cosmos ecosystem, stake our own Band and participate in governance decisions.
Important facts.
- With decentralised finance DeFi the internet has been upgraded to include property rights, some call it web 3.0. This is a pivotal next step in human societal evolution. We are champions of web 3.0 and we do our part by maintaining a small handful of the nodes which make it function.
- The returns available in the new open financial system are far in excess of those available in the legacy banking system. However with great reward comes great risk. Using and investing in cryptocurrency has technical risks and many regulatory final bosses left to overcome. You can lose everything you put in. That being said we stake our capital to this infrastructure along side you so have a vested interest in the systems we operate.
- In the legacy system your bank manager doesn't put anything on the line. They sell the risk to someone else within seconds and the taxpayer wears any losses. DeFi is being designed with built-in incentive structures which allow capital to be allocated to the most valuable entrepreneurial members of society. But while also allowing those token users to share in the financial upside and governance of the chain. This has been described as community capitalism.
- We care deeply about the blockchain industry and making an impact on the future of finance. We believe in open source software principles such as Transparency, Participation and Collaboration. For us providing validator node infrastructure is a business and a passion. Learn more about web 3.0 at Figment.