Dappnode and how to empower anyone to run a professional validator Artwork

The DeFi Download

“The DeFi Download” with Piers Ridyard, CEO of Radix DLT. Join the leaders of the Decentralised Finance industry as they discuss all things DeFi: Its workings, user acquisition and go-to-market strategies while simultaneously re-inventing one of the world’s most important industries.

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The DeFi Download

Dappnode and how to empower anyone to run a professional validator

April 14, 2023 • Radix DLT

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.

Summary

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.

Key takeaways

Running nodes in decentralised networks is critical for ensuring decentralisation and contributing to network security. There is a push toward economic accessibility, which Dappnode's liquid staking derivative networks and other tools can help with.
Users can drop their ETH into liquid staking derivative (LSD) networks and receive a derivative of that ETH, which can then be deployed into validators on Dappnode.
Dappnode is a platform that allows users to easily run their own nodes as an alternative to relying on third-party services. It also enables users without technical knowledge to participate in these networks and manage their validators.
Monitoring staking performance is vital for users, and Dappnode provides integrated open-source dashboarding tools for this purpose.
Dappnode is an open ecosystem, which means that anyone can contribute to and build on it. It provides solutions for people who cannot afford the 32 ETH required to run an Ethereum validator to participate in the decentralised revolution.

Chapters

[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.

[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] 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?

Further resources