After months of heads-down innovation, the KYVE team is thrilled to announce its latest protocol update! Protocol Update #3 primarily aims to improve delegation security and node infrastructure in the KYVE Network.
In our last update, we released a delegation feature to increase KYVE’s scalability, began using Moonbeam Network as our smart contracting layer, and launched our new website. The purpose of this update is to improve and enhance some of these existing features, as well as add new ones.
KYVE DAO and less control over network uploaders
We’re excited to officially announce that the KYVE team has been working on proof-of-concept (PoC) governance experiments for the KYVE DAO, as well as creating a UI for the governance. The UI allows users to manage pools and votes. Votes can be used to update protocol configurations as well as create or update pools.
In addition to this, we are shifting from having pool uploaders to a network leader. Before the update, the team was running the uploader node for every pool. This was a highly centralized process but necessary for easier debugging and more control of the network.
The new update aims to decentralize this process by no longer giving the KYVE team control over the uploader. Moving forward, a random node from the top 20 nodes for a pool is selected to be the new uploader. Each time the uploader uploads a bundle of data, a new uploader is automatically selected.
Risk-free delegation
Through this new update, the KYVE team has also worked to improve and further secure delegation in the network.
Before the update, if one delegated to a node and that node was slashed in the network, the delegation delegated to the node would also be slashed. This was not ideal because we wanted the delegation to be as risk-free as possible.
To make delegation a completely risk-free affair, we introduced the idea of “voting power.” When one is running a node, they must first self stake, which allows them to register as a node. However, in order to vote on proposals and participate in the network, one needs voting power, which is only issued via delegation.
Improvements in node infrastructure
Lastly, through the update, the KYVE team also worked on improving the network’s node infrastructure.
We realized that instead of storing all the data being uploaded and archived in memory, it was better for us to store it in a database. This means we now require a little bit of storage space to run the system.
We’ve also worked on accessing node details in a more simple, efficient way. With the latest update, the nodes now expose an internal port for metrics tracking and more, so users can plug that port into a UI of their choosing and see more details on the nodes involved.
https://app.kyve.network/faucet
About KYVE
KYVEis a next-generation protocol that enables data providers to standardize, validate, and permanently store data streams. By leveraging Arweave, the solution ensures the scalability, immutability, and availability of these resources over time, and by using Moonbeam smart contracts, KYVE is EVM compatible. KYVE is backed by top VCs, including Hypersphere Ventures, Coinbase Ventures, Mechanism Capital, CMS Holdings, and blockchains such as Arweave, Avalanche, Solana, Interchain, and NEAR.
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