a mechanism for incentivizing full nodes
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README.md

denode

Huge thanks to the Ethereum Community Fund for helping to fund this project! <3

Overview

To use the Ethereum network today, as a user and a developer, one needs to use Infura or have to setup and maintain a node themselves. In its current state, Infura is a centralized service that facilitates access to Ethereum and is an almost essential component of it. Being the only reliable service that provides such essential tools, Infura poses a risk to the Ethereum blockchain as it provides centralized access to a decentralized blockchain, essentially withering away the benefits of decentralization.

To address this issue, ChainSafe introduces Denode, a fully decentralized, open-source solution that simplifies access to Ethereum in a safe and reliable manner. Incentivizing users to run full nodes, Denode introduces monetary incentives for running full nodes in a decentralized manner as a mechanism for improving the security and stability of the network.

Road Map

The project consists of six main components, some of which can be concurrent, and others which are consecutive.

Component One: Research and Development (1 month)

  • Outline a precise application flow and architecture
  • Explore the potential vulnerabilities of the system
  • Evaluate the mechanism design of the system in regards to incentivisation systems
  • Develop a token system to manage access to the nodes

Component Two: DAO development (1 month)

  • Create Access Control Registries (ACR)
  • Implement a voting system for verifying nodes
  • Enable the retrieval of Node IPs
  • Establish a payout contract to compensate the nodes

Component Three: Nodestats and Integration (2 months)

Build a mechanism that:

  • Allows nodes to submit requests to each other and verify the results
  • Maintains a copy of the ACR for a node
  • Verifies access tokens in requests
  • Integrates with the DAO

Component Four: Testing, Documentation and QA (1 month)

  • Setup a testnet
  • Perform stress tests and fuzzy testing
  • Ensure documentation is up to date and accessible to the community

Component Five: User Interface (UI) design (2 weeks)

  • Designing and implementing a simple web UI to allow users to gain access to the network

Component Six: Community Engagement and Marketing

  • Engage developers for feedback and auditing
  • Incentivise users to migrate

Diagrams

Connecting

Verifying

Contact

Interested in helping out or learning more? info@chainsafe.io