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XTalks: Web3 Validator & Node hosting FAQs
Recorded: April 16, 2024 Duration: 1:13:13Space Recording
Full Transcription
Hey, everyone.
Hey, Sam, how are you?
I'm good, sir.
How are you?
Pretty good, pretty good.
Awesome.
We'll just wait for a few minutes.
Let everyone join and we'll kick this one off.
no you're loud and clear nice awesome I guess we can sort of kick this one off
while we wait for a few more people to join also our audience is to join but
as a reminder guys we are going to have a special AMA on Friday and we are also
having a community in AMA on our discord so if you would like to join that AMAs
or if you have any sort of questions stuff like that make sure to jump into
that also if you would like to come up on stage just request the mic and I'll
let you up and as always use the comment section if you have any questions while
I add more speakers Kryptonaut would like to give a rundown on today's topic what
we can expect stuff like that yeah for sure thanks everybody for joining this
episode of X talks my name is Cody I am the chief experience officer at layer 1
X if you don't know what layer 1 X we are a layer 1 blockchain that is fully
decentralized and focused on a unique take on interoperability we call it X talk
because we can do more than just transfer assets across cross chain we can also
move data and logic as well and our whole ethos is built on uniting projects and
change throughout the web 3 space so the X talk series is sponsored by layer 1 X and its sole
purpose is to bring together projects so that they can share their knowledge share their projects
and share their expertise and the various topics that we discuss and today's topic is going to be a good
one it's on node and node hosting basically a general consensus of what nodes are so if you're fairly new to the node space
there's a lot of opportunity there and I think that our panelists that we have lined up today are definitely going to be able to help walk us through all of those so
yeah I think we've got just about everybody up is that right or are we still waiting for a few more
let's kick this one off and then as more people join I'll add them to the stage
okay perfect let's do that then so yeah today we are joined by a bunch of panelists
um some familiar faces and some new so uh why don't we take about 30 seconds uh just uh just give us a
a rundown give us your 30 second elevator pitch on on who you are what project you're working for
and or working on and uh we'll kind of go from there so let's start with um let's see dub digital let's start
with you first
is it just me or there's an awkward silence no i hear it too uh maybe let's try ben
hey everyone can you hear me right give me a thumbs up i can't yep um i am the ceo and co-founder of
alchemy alchemy is a decentralized ad exchange so we facilitate the buying and selling of
ad slots on websites podcasts connected tv of course various publishers and we work with brands like
aws coca-cola cafe pacific meta large media agencies to allow them to buy their ads online
a big part of what we offer is fee savings and that is possible through the validator network that
we host so the validator network provide transactional bandwidth for ad transactions
and then get rewarded in the fees generated by the protocol for doing so
it saves advertisers and publishes a ton of money in a market where they're charged 30 to 75 percent
our protocol charges three to eight but we're able to share that with people that provide transactional
bandwidth um so yeah looking forward to building any questions and just talking about the validator
network that we've created i love it love what you're working on too um definitely we'll have to talk
for sure uh thanks for being here um uh is it tasker
close enough um it's a taxter uh but it works i i understand how some people struggle to say it but
yeah thanks for having me there one x i've seen you all around uh spaces before but a bit of an
introduction of myself um i'm an esports commentator creator as well as um someone who dabbles
in you know crypto defy across the board just as most of us here do um the reason i wanted to be
here uh behind the mic talking to everybody is because when it comes to nodes i recently you know
collaborated with a company that had a node sale of sorts and i facilitated sales for them and i
really understood that i should dive deeper into um the side of web3 that's away from gaming where i
usually spend most of my time uh additional to that i hold marketing positions in both uh cdify as
well as another agency wg gaming that facilitates campaigns and events for uh game studios so yeah
good to be here perfect welcome um caleb let's jump over to you hey thanks um i'm caleb james
delisle i am the uh the one of the founders of the pkt project which is uh the world's first bandwidth
hard proof of work uh it's a regular old bitcoin based blockchain uh so i know a lot about hosting
nodes because i got some at my house um also i was all of the founder of the cjdns project back
like 10 years ago 12 years ago which is now it's a it's a overlay mesh network project and it um
uh it's it's actually supported by bitcoin so you can run bitcoin over cjdns uh it's right in the in
the bitcoin core code base and i'm the cto at rowdy which makes um makes hardware products to make
wi-fi sharing uh with your neighbors and with with your business with your customers makes that really
easy and uh we're we're all in the bandwidth space in in packet so really thrilled to be here
uh sounds interesting thanks for being here uh let's go back to dub digital give him more chance
sorry sorry guys i had uh some technical difficulties but uh my name is dub digital been in space for about
10 years um i'm the head of public relations over at player chain which is a multi-chain blockchain
gaming infrastructure that's going to be launching on um an avalanche subnet soon in the next coming
weeks we just launched our white paper uh for um our blockchain so make sure to go follow us on
our socials for that um but basically a quick rundown on player chain it's a lower barrier to
entry way for web 2 players and web 2 developers to come into web 3 we really think accessibility is
the missing link um so we provide easy like to log in biometric tools for um for participation but
also to have uh toolkits and apis for builders and gamers so um yeah that's what we're up to over
there but basically um we just launched our white paper and within that we detail our node scheme um
with something pretty uh revolutionary we like the thing called node clusters which is
fractionalized ownership of each individual node um so that's something i'd like to talk a little bit
more and we think it's interesting but uh thanks for having us over here appreciate it
no definitely that is something we're going to be talking about so hold that thought we're going
to come back to it so uh last but not least we have a special guest with us today uh we have our
very own chief experience officer at layer 1x uh mike do you want to give yourself an intro
chief experience officer i thought that was you oh geez sorry chief strategy officer oh my gosh
it is way too early for me he's uh by the way he's the chief uh power ranger officer that's what
we call him yeah yeah he's the one that wears the pink suit no no definitely not uh but uh no one day
i'll give you the story about chief where the where the name comes from but it's a uh there is a little
bit of a um an american link there as in north american indian so anyway um so yeah look i think it's really
great that we're gonna have a bit of a chat about nodes tonight i think it's a such an exciting topic
it's one of the things that actually uh for me um it makes blockchain it it it produces the it provides
the decentralization that we need to uh to ensure that we've got the security and stability of uh of
of networks uh globally so uh look i'm gonna i'm gonna hand over to the speakers because i think uh we
want to hear some of their uh their thoughts rather than me uh all right let's try this again for
those that are just tuning in my name is cody i'm the chief experience officer at layer one x uh
and um if you haven't already go ahead and share the link to this uh episode of uh x talks it's going
to be a good one i think we've got a great set of panelists up to talk about what our topic is today
about is nodes and uh like uh our our host on l1x handle basically said sam said if you have any
questions feel free to raise your hand we'll get you up or you can feel free to uh if you're a little
shy go ahead and drop those comments down in the or drop your questions down in the comments geez i'm
struggling to talk this morning it's kind of early for me here folks but uh anyways uh yeah let's just
go ahead and dive in um and let's start talking about it uh just to kind of give you some house rules
basically just when we ask questions just feel free to jump in just be mindful if anybody else is
talking we understand that uh uh x's does suck every once in a while and they do need to improve their
quality and sometimes you can't hear other speakers but uh you know we'll try to get back to you as
well so uh with that being said let's just jump right in um so my first question is uh you know
trying to keep this as light as possible we may not have as many tech driven people in listening to us
today so on a very high level um kind of non maybe crypto uh for somebody that's brand new into crypto
what's the easiest way to explain the role of a node in a blockchain network
i can say this one i don't mind go for it i think yeah because we we run an ad exchange so a lot of
our the users of our exchange perhaps aren't crypto native so we spend a lot of time explaining
what the purpose of a validator is in our network and for us it's really providing computational
bandwidth to facilitate transactions on the network that kind of happens already albeit through
centralized servers at least in the ad tech industry which alchemy is part of um and that typically
incurs a lot of fees and for the entity running those centralized servers so where blockchain and
particularly distributed ledgers are so amazing is they allow for people that perhaps aren't part of
the team but want to provide some value to a network in exchange typically for tokens that
happens on ethereum it happens on alchemy's network so where when an advertiser or publisher
uses our exchange we take a fee that fee is used to purchase tokens those tokens then distributed to
people that provide bandwidth on the network that has provided us with a real competitive edge
against web2 ad exchanges if you want to call them that um that have to incur that cost themselves and
really that removes a lot of the friction on a network aligns people's incentives like you only can
earn rewards if everyone is operating as they should be on a network itself and allows for
transactions to be validated globally it allows for a layer of security and really is kind of like the
fundamental building blocks of any blockchain that takes place so yeah if you haven't got validators you
haven't really got a network so it's kind of the key the key step and our main net went live in
december last year after two and a half years of development and now it's amazing to see validators
joining um we've had our first two cohorts validators join and we'll be having more join throughout this
year um so yeah it really as i was saying kind of summarize all of that is it's the it's essential
for a blockchain is to have validators and it's a really great way if you are getting into crypto and
you find a particular project or company that you want to support of supporting that project and kind of
helping further the potential success of that particular project by providing some resource
to help solve or provide a solution for whatever it is they're trying to solve so in our instance that is
add transactions on your favorite websites with your favorite brands
now that's some great insight uh thanks for sharing dub digital you got your hand up yeah i'll go to i'll
try to go the layman's way and try to explain it through an analogy i think that's the way i learned
best um so maybe that helps some people but i like to think of it as like a decentralized clearinghouse
like if you know about banking um basically the whole point of validator set is to make sure that
one of the biggest problems that plague digital money which is the double spend problem does not happen
satoshi introduced you know validators to basically be a decentralized clearinghouse that
isn't controlled by any one person so basically what happens is transaction is submitted that
transaction goes through a randomized set depending on how your blockchain setup of validators those
validators make sure more or less that if that's a real transaction or not if someone's trying to spam
the network or not um if all of them come up with the same and it's valid then the transaction goes
through but basically i like to think of it in terms of like you know traditional financial system
like a clearinghouse of sorts but split across many people
yeah that's a that's a great analogy to think of it that way uh thanks for bringing that up
no problem uh anybody else want to jump in
i'm trying to remember how i explained it in the past but i mean it's something kind of it's wholly unique
right because we don't we don't have that that type of we didn't have that type of thing before
computers like the idea that the entire history of the entire every record of every transaction that's
ever been done on a blockchain could be spread or on anything could be spread around amongst every
participant like that's that's something it's just we didn't until computers we didn't have the possibility to
to do it but i mean you could you could say they're like auditors because they copy the the the ledger
the the ledger of all the transactions each one copies it onto its own machine and it audits it make
sure that everything is is kosher and if anything's wrong then it will reject it so like there's there's
something about like in in a classical blockchain like a bitcoin packet whatever um it's it's that
you um if you set up a full node and then you connect to that full node with your wallet like
you know that the blockchain is valid according to your full node like it's been audited by your node
even if every other node is compromised every other node is working against you you still know
it's valid because you have one full node so i i think auditor is probably a pretty good analogy
but we don't have anything that fits perfectly
i think um but for me they were fantastic answers and um i i think it sort of gives people an idea that
there's a whole bunch of different functions that are that are handled by a node um you know we've heard
that it's um uh it's there to store and maintain a full copy of uh all the the transaction history
in that ledger um i think um there's probably a few other bits and pieces as well it's um more so
around uh it it strengthens the network's integrity um as you said that it's basically an auditor
um and you can be one of those auditors on the on the entire network that's fantastic but i think
um there are the benefits as well and that is um uh how those who people who stake their uh their
coins or or tokens against the node uh can actually earn rewards and actually earn from the network
because they're participating in maintaining that integrity and security i think that's uh that's
something really important i think there's also different types of nodes so there's uh you know
depending on the on the blockchain some of them have just a single type of node others have
different uh different ones i know on mayonex we've got um uh nodes that actually handle uh they
listen out for events and all the different chains that we're connected to we've got the actual
validator nodes themselves the full validator nodes but we've also got a from our side we've got
another unique um capability in there and that is um uh uh how we actually our wallet holders are also
validators on the network so they they work in conjunction with the full validator nodes to
to actually validate transactions um and we've also got signing and broadcasting nodes as well so
um anyway we'll pass back to uh to cody um
no those are great answers and uh chief thanks for bringing up the different validator thing so yeah
there are many different types of uh uh you know validators it depends on the blockchain that you're on
um what kind of nodes they offer um so sometimes it does require you to do a little bit of homework
there as well but uh but yeah to be able to participate in a node um for a specific blockchain
does open up a whole bunch of different type of um uh i don't know new opportunities within the
ecosystem and it was brought up a few few minutes ago i think it was ben uh that that mentioned you know
getting rewards um let's let's kind of talk a little bit about that and and kind of educate
the listeners as to you know what what does it typically cost um and how much of a reward does it
does it can can it yield and and and how much does it cost to host a node uh to begin with so who wants to
jump in on that one
i guess i'll i'll take it because uh i'm running a fair number of different nodes of different things
in different places at different costs i mean you can always buy a server on the internet from like
ovh or one of these companies i mean amazon if you want to spend a lot of money um or like ovh or or
one of these companies if you don't want to spend a huge amount of money and you know maybe like 50
bucks a month in order to have a server and then you can run different different nodes on the on
that server and what the the amount of stuff you can run on one server it's kind of a magical
art of like just guessing when you've overloaded it too much but i also have uh like i've obviously
a packet node i think i have a bitcoin node or maybe that one's turned off right now um i have a
library node of you know lbry projects even though i don't own any library tokens i just run a node
because those are cool people um and some of that a lot of that stuff's just hosted at my house
and it's it's connected through a cjdns reverse vpn uh so that it has access to the internet even
though it's it's you know it's on my home internet connection and i think that that like really opens up
running nodes for people because you don't have to you don't have to spring the 50 bucks a month to
you know go and actually own a server or rent a server at at a hosting company like you don't have
to make that leap you know you can just buy like a gadget and have it at your house and it just
connects to your internet and that's you can run a node just like that so i mean in terms of the cost
i don't know what i would say is the actual like electricity cost but it's small enough that it's just kind of
like a fun thing to do yeah just kind of as a follow-up on that caleb um you know uh i can't
remember is it 32 east does anybody know off the top of their heads how much it costs to run like an
ethereum node yeah it's 32 is it 32 so if you guys can do the math that's a that's a big chunk of change
for a lot of people um i i know that does anybody else know some of the other chains and how much
it costs to run nodes on them as well yeah i mean to clarify i don't run any nodes that cost money to
run i'm just running like you know the the old work chains i'm i'm more of a proof of work type of guy
uh i i just run you know the old school chains and um also i never ran ethereum even when it was
a work chain just because that those nodes take a famously huge amount of resources and i just don't
want to dedicate like an entire big machine to running an ethereum node like yeah i i i have some
i have a heart but i don't have that much of a heart you know i'm not going to like give an entire
machine just to ethereum you know and so i i'm more stick with you know the bitcoin style uh blockchains
that are are much lighter on resources no no it's uh no it's good to come at it from a couple of
different angles right and so thanks for clarifying that caleb um but i think that it does open up the
world of of you know opportunity for for just not owning a specific asset and holding it for for
type of rewards like apr type of rewards this allows you to earn rewards for putting up these resources and
so um i i mean i guess kind of a side follow-up to that is um you know is it a lucrative passive income
type of thing or is it that you're just donating the resources for the good of the cause for me it's
it's a hundred percent donating just because i don't really pursue the the opportunities to run like
proof of stake nodes again like i'm old school i don't fully trust proof of stake still you know i'm
i'm i'm um still kind of back in the satoshi era so you know my my go-to's are gonna be like bitcoin
packet monero you know the stuff that's really been proven over the years uh and and we we really know
how it works so uh as a result i don't i don't get into as much you know making money with with nodes
but um i mean there there is always mining and that's that's kind of another and i think
we should probably like segregate that as a as a different discussion because that is a way to
make money with with old school chains but um it's it's really a different cost benefit uh study
yeah i think that's uh it's very important though um in terms of like you know i talked about
like nodes and validators being typically like decentralized clearing houses i think that it
also goes one step further and democratizes finance by making people individual people
their own decentralized bank right you want to know people can stick on top of your notice
especially it's pos systems i think that's something important that aligns like your your
validators are so crucial to your network along with the network so as the network does well so does
the validator does well and that's something we try and focus on a player chain with our validator set
um i talked about node clusters which is basically um a way we can throttle the performance of a chain
um improve it if need be um through a decentralized approach and basically cuts up our nodes into 400
cryptographically secure clusters that represent uh fractionalized ownership of said node um so that way
you know like more participation you have um the more network effect you have block blockchains are
valued on network effects and um as long as there's economic incentive aligned for your participants
they will continue to participate and support you so just a little bit a little bit uh shameless plug
there for us but um we we really believe that financially beneficial nodes are the future for for blockchains
no i i definitely love the fractional idea um i'm definitely 100 supporter in that uh does anybody else have
anything they want to add on that all right we'll just kind of move on uh just with all the listeners and
panelists that are some panelists that are out there i'm curious as i scroll down through here
um give me a thumbs up if you are a current node hoster for any chain
interesting okay cool um yeah so as we kind of uh go on to the next kind of segment here uh my next
question is is you know we've talked about some of the perks some of the bonuses things like that but uh
what are the essential hardware or software components needed to begin running a we'll just
call it a basic node um can it be done on a regular computer uh caleb mentioned having a special little
device that you can run it off of um are there special equipment that's needed um
what what what do the listeners need to have to basically run a node
uh so again i'll just take this one um so you can really run it on almost anything i think so it
depends again on the chain like uh you do need disk space disk space is huge because a lot of these
chains you know the disk space requirement gets pretty big um i think a raspberry pi is probably enough
you do generally need to have like a little bit of you need to be comfortable in like the linux command
line to just be able to get it set up but again like we're in the era of chat gpt so you can almost
just be like hey chat gpt how do i set up a node on the linux machine you know and it'll it'll just kind
of walk you through the steps um but what i run i run nodes on i have some like old dell power edge servers
that are at my house i did a a whole video you can go on the youtube of pkt and you can look back in
like 2020 i did a whole video of making these into a water cooling rig uh so it's it was pretty fun and
those things have been serving me well for like years um you could also of course you can you know
you can rent a server on the internet if you want to go that route but i i'm i really want to like
implore everybody to get into the the if you're if you're running a server of any kind whether it
be a node or whatever like you need to be we need to be serving hosting things at home and the reason
is because there's so much censorship resistance when we decentralize the actual physical infrastructure
of these services and servers and websites into individual homes like if you've got fiber you have
no excuse to not be running your your services and whatever you want to run at home and then you
can use reverse vpn in order to get a public ip address in order for to have internet access i mean
so yeah again it depends a lot on the chain that you're using you know like if you're if you're trying
to host ethereum you're going to need a big machine but for a lot of stuff like bitcoin whatever an old
laptop is fine i would just make sure that it's plugged into ethernet because you don't want to like
host it over the wi-fi you know plug it in the ethernet you want to be on a fiber internet
connection it's just it's too slow if it's on uh something else and then just just let it go the
most important thing is that it stays on all the time yeah i think it does um it varies chain to chain
i think a lot of the time if you're looking to get into running validators or nodes the specific
project will provide detailed instructions like there's one i've come across recently called grass
which can run in the background of your browser there's projects like helium that we're doing it
through providing wi-fi services in a wi-fi network we have our validators across various cloud
infrastructure instances people like aws lino digital ocean vulture you can now run an ethereum node on
pretty standard cloud infrastructure instances moved to proof of stake so i think as you were saying
caleb just like familiar familiarizing yourself with some basic understanding of what it actually
is that you're hooking up to what it is that needs to be hooked up to and then just maintaining up time
you want to maintain up time to maximize the rewards you're going to receive and ultimately
to provide as much bandwidth to the respective network that you are providing
um bandwidth to i think particularly on um ethereum you will get slashed if you're not providing
good uptime or you're trying to act maliciously so like there are various fail safes and protocols that
protect it from bad actors so again yeah if you are looking to help further a project just kind of being a
good validator is just a best practice that i think you should um employ to provide as much value and
earn as many rewards as you can and kind of be a a good active participant of whichever project it is
that you want to participate in
totally agree tasker why don't you go ahead
yeah i think i just wanted to mention that you know the relatively new projects that are coming out with
um you know nodes and um clearly are onboarding these these new relatively new users who are
probably getting their first nodes um and help them help it help them set it up is relatively easy
they either use a node hosting service or uh pretty much are handed all the instructions they need to
set up in the first place compared to how ethereum nodes and bitcoin nodes are run right um and to add on to
that i'd love to hear what everyone thinks because i'm a little bit new to this to the node side of
web3 as a whole um recently there was this project i like worked with and facilitated sales for and
have nodes of called highchain and they said they're going to make their nodes transferable after six months
or so um and yeah that's usually not something you hear based on what i've seen with projects over the
last couple of months um over on the gaming side so i'd like like everybody's two cents on that
i'll jump in um i mean yeah i think that's a great idea i think that nodes in themselves are
our assets right um would you like they're not you know they provide a yield and i think that has a
place on a secondary market as you said um that's something we're similar we're doing with our node
clusters um they'll be able to they come with a like a yield built in right they'll be unstaked over
the next four years but when you start on staking is up to you um so basically you can look at it as
an investment um you can use it to get you know yield from our from our blockchain i think the next
iteration of nodes is do what with it what you what you would like right and it gives autonomy to the
users so i think that's a great idea and i think that's something we're going to see growing into
the future and treating them like assets actual digital assets i think there's also one more
point that i would like to add if um that's right so there's there's there is almost because there is
some kind of technical requirement to running a validator there is almost a step before that and
that has been with like liquid restaking um becoming more and more popular like platforms like lido
so if you don't necessarily want to go through running an ethereum validator you for ethereum for
example you have to post or broadcast transactions to um beacon chain which can be quite daunting if you
don't understand um linux command lines but if you do hold ethereum you can add it to lido
and actually earn some of the rewards so kind of get a grips of what it's like to hold a token
earn some rewards and then as kind of as you feel more comfortable you kind of don't have to reach
that threshold of understanding technically what have you have to do as well as having the collateral
you can actually kind of join protocols like lido and there's there's plenty of others as well
um to start earning um or yielding off tokens that you have with other people that have taken
undertaken the technical um bandwidth they normally take a fee so there is that to bear in mind but then
equally if you are running a validator there is a fee to running it so it's kind of a nice way
it was almost like a precursor to becoming a validator or a node operator then
liquid staking is quite a good place to uh to start your journey as it were
great point sorry i'll jump right in there sorry about that um my my previous statement was uh
it's probably pretty nuanced to our to our chain player chain uh because we allow people to stake
the cluster nodes so we try to remove the technical difficulties but obviously if there's technical
problems like you know you need to maintain your own infrastructure depends on what train you're on
uh that might be less of an ideal solution but i think we're starting to see a move towards kind of
moving that barrier out of the out of the equation by actually change providing that over structure um
infrastructure to the nodes and maybe like we're doing fractionalizing nodes so it's simply just
a staking kind of thing where they interact with the contract and they're able to participate in that
way but um yeah if it's if it's more technically intense obviously transferability gets a little more
challenging
i think fractionalization is a really smart move i think that as tokens appreciate in value that can also
be prohibitive in terms of people wanting to join the network so yeah fractionalization is a real nice
um solution to that i'd be interested to see how you're actually um rolling that out because that's
pretty cool go for it dub chill well thank you thank you um yeah so so basically um what we're doing is
you know um over at avalanche it's it's very tailored to like gaming you know high throughput very fast
um but we we believe the more that are participating the more people that are supporting our network the
better so basically the fractionalization of these nodes is it's split up right now into four four
different node clusters representing one actual um actual node and um we run the infrastructure in the
back end um however these are cryptographically digital assets um each and every cluster so they're
actually peoples right and that that opens up a lot of uh possibilities where they can resell in the
open market i mean the secondary market um and you could begin a staking contract and you could stop it
i like we'd like to think of it as kind of like a resealable soda can right sip a little bit now save the
rest increase your resale value later we just want to give people choices if they want to support the
network that's great they could just stake it into the contract it's pretty simple we try to make it
simple for them and they can get passive yield and on top of that they get gas fees um or they could
keep it sealed and never use it and just try to sell on the secondary market i think the more you give
people the ability to do what they want with it and use it how they see fit um more autonomy the more
people will actually be um open to participating but um that's a little high layman's terms of how we do
that um but there's more technical detail outlined in our white paper white paper 65 pages long um
it's it's on um our um our x account so make sure to follow us guys it's at on p-l-y-r and um you can
find all the nitty-gritties um regarding that but um if you guys also want to work with us shoot us a dm
we're we're nice guys you guys are nice guys and i thought we had the longest white paper out there uh
you're definitely up there my friend so thanks thanks i'll read your white paper if you read our
119 page white paper that chief put together so deal deal that sounds great hey chief uh you uh awake
are you still asleep um i'm probably feeling like you probably having a bit of a snooze but uh
do you want to give a rundown of of how we're we're running nodes and and providing the opportunity
or do you want me to to explain it i'll let you do it if you want okay you can go back to your cat
map yeah it's it's past chief's uh bedtime so i don't think so no no he's an old guy and goes to
bed quite early so oh that's come on that's not fair it's not old it's not age it's it's about
experience because i've been involved in crypto for i can't mind in decades that's different okay
yeah no that sounds good so yeah uh you know very similar to how uh player chains doing theirs uh
we're we're offering you know kind of an nft based uh permission to be able to host a node for our
investors um we've um we're we're also making it kind of a a couple of click solution for those that are
very new to nodes um as a passive income way to earn a way to participate into the community as well
um into our network is uh you know very varying levels of the nodes that they can run as as chief
explained earlier we have the full validator we have the event listener nodes and then we also have
the mobile validation um so to run a mobile validation like you said uh all you have to do
is just be have a wallet and uh that's pretty much it and from there then the event lister nodes uh do
require a little bit of hosting as well as the full validator but we are working on a way to create an
interface within the l1x app uh that uh allows people to not only host but also sell um very
similar to how dub digital was just explaining on their chain how they can basically uh sell their
nodes off uh pretty easily through like a marketplace um i'm presuming that's how
dub you guys are doing it is through like an nft marketplace type of thing um on the secondary
market is that correct yeah perfect yeah so uh we should definitely look at collaborating there so
that our people can sell on your your nft network and vice versa uh that sounds like a match made in
heaven for sure so um so yeah i we we agree with the whole kind of like making it simple uh getting
people invested more into the various components of the ecosystem and uh trying to make it as simple
as possible but also making it uh accessible for those that have been running nodes like it sounds
like caleb is our our veteran when it comes to running nodes um and has been running nodes uh on his own
own kind of devices from his home network that you could even do that as well so um yeah so we're
running things very similar in in that fashion um before i yeah i think oh go ahead oh yeah look i
might as well add in there as well so um so yeah i'm uh i'll be running my own node on uh low on x um
i've actually got my own um uh my own machine because why because i guess i've got a little bit of a
geek in me um and i'm actually going to be running it on a um fairly powerful machine probably at i7
and it was about 48 giga ram and a um a decent amount of storage plus ssd um got about a terabyte
no to sorry a terabyte allocated to it but the machine has probably got about uh 20 something
terabytes of storage um so for us um our minimum requirements are around probably an i5 um or ryzen
5 um 16 giga ram um and around that one terabyte storage and about 100 megabits of uh of throughput
um so from our side it's yeah they're not too um owners the requirements um you know the machine
i'm running it on is actually going to be it's also the machine that i i hold for my um uh i'll be
running um uh you know serving up um different shows on it shall i say um it's it's just a a machine
running at home you know uh i've i've just this is not really open to the public yet but um i'm i'm
launching like a little kind of experimental um hosting service and we're gonna charge like a
really really low price and uh like 500 pkt per month which is like a dollar fifty and um that's
we're going to um make it so that people can have a virtual private server running on on my machine
which is uh i i use uh zfs mirrored pairs um it's all used equipment like aliexpress special but i took
the time to get it stabilized so i i believe in this machine it's not going to crash you know and when you
go for that older like two generations old one generation old you can get up to like 256 gigs of ram
you know that kind of stuff without too much trouble and uh so i've got something that um
just watch the space uh follow me on twitter uh you know join the packet telegram if you're if you're
interested in um uh potentially buying one of these and uh they're gonna have they're gonna have all
reverse vpns so you can host little websites and different nodes that whatever you want on there
even if you're not technical it's going to be like a a visual user interface and um yeah so anyway uh
but what i was actually going to say that earlier that and i this is a new thing and nobody's really
done this yet but i think it'd be really interesting so i mean like you guys you're a layer one right
and i'm running a layer one you know packets layer one so it's really hard for people to transact we
don't we don't have our own dexes because you know we're layer ones and so you got to go through
a wrapper or something like that in order to get to a dex or you got to use a centralized exchange
and then there's all the annoyances with that you get to sign up and all that but what would be a
really cool node to run would be if there was a way that you could just like have two wallets
that are automated and you just tell those two wallets i'll buy this for that at uh or let's say
i want to have 50 of my my funds in packet and 50 of my funds in x and then those wallets will
just make offers on in like a decentralized marketplace and you're like one node in that
marketplace and you actually make money on that like by providing the service of a decentralized
marketplace and i hate to say like it's a dex because the dex is usually a contract on top of
another chain this is this would not be a contract on top of another chain it would be like literally
different um different chains atomic swapping between each other and like it's it's all kind of
exists but nobody's really packaged it up so you could just run a node and so this is something that
i'm really tempted to just go ahead and do it and maybe i'll offer it like um that you can install
it on maybe my service or you know maybe you just install it on anything and that way you can
you can you can make like your own little swaps where you can you can offer some asset in exchange
for another asset caleb i'm gonna talk to you after this yeah so what you're talking about there is
being able to do uh um effectively cross chain swaps between chains that were previously not compatible
with um using the using a dex yeah i mean as long as they're they're capable of locking up into
a um what's it called htlc hash time lock thingy majig like that thing that bitcoin has that makes
lightning network works as long as they have that capability then you can like do the weird
transaction dance that makes it so that you get the other person's coins and they get your coins
we're we're good we can do it you know it's just like somebody's just got to write the code and i
don't know if it's gonna be me or who it's gonna be but like this is the kind of node that we should
be running because it allows us all of us l1 mafia to be able to swap between our chains and we don't
need to use a contract or a wrapper to do it oh caleb i think um sir i think you might have to uh
spend a few hours in the next couple of days reading a white paper and then come and come back and have a
chat yeah all right my friend that's what we do it's what we do bridgeless interoperability
so yeah i'll definitely be talking with you after this caleb all right hit me in my dms
or i'm already jump on jump on pkt.chat that's another that's a service that i host it's a chat
server and you know we run our own chat you know like it's running a server at ovh i host a lot of
things love it love it yeah i already followed you and i plan on dm and yeah so uh well cool before
i jump on to our last question uh thanks uh caleb for throwing out that alpha i think you've perked up
some interest in some of our listeners as well as mike flexing his uh his arms on on his computer
so before we uh jump into our last question if you guys do have questions if you're a listener
and do have questions for our panelists about nodes uh feel free to drop those in or uh submit a request
and we will get you guys up here uh to talk to our panelists and and uh all that so uh moving into
our last before i do our last question i believe uh our resident badass inna who is over x talks
um honestly this thing couldn't go without her so uh she's asked for just a second um so let's just
turn the time over to her before i ask the last couple of questions okay no i was actually hello guys
hi everyone um well actually i wanted a closure statement for myself but i also can stick my
two penny in now because it's still relevant so first of all please guys feel free to drop um your
links any information that you would like to drop in comment section about your projects or um your
organizations in comment section because you know um i we set up this space initially to uh make sure
that we educate the commoners you know the normies on nodes and validation process because it's such a
massive deal right at the moment and i know that a lot of people are want to do it want to participate
want to start you know looking to into it but however it's just not enough um technical clarity
on it so you know you guys have been an absolute like tremendous help uh within these spaces which we
will turn in podcasts and um um you know spread around spotify and apple music and so on and so on
so this this is so highly appreciated i'm sorry sorry for the rant but like it's it's yeah it's
my word of appreciation for you um so yeah please feel free to drop all your links and stuff so if
anyone needs your help they can reach out and you know in a matter of one click um yeah so we have
a couple of questions uh within the comment section but i know that cody is itching to ask haze so i'll let
him go and then i'll go again so yeah uh let's just go to the community questions i i only have
one more question to ask and uh so yeah let's go to the community questions um okay so basically all
right um you know there is a very simple question that we probably already touched base on right there
is a there is there are two ways to host nodes and the first way is when you take upon initiative and
responsibility and obviously study it all which obviously time consuming uh let's be honest it is
time consuming and it is commitment um so and there is another option when you take upon a hosting
services uh and this is uh heads up to Caleb because again i think it's very helpful to know that
if you want to make some income passive income uh but you don't have time you don't have resources
you still can do it it's just a matter of tapping into the correct uh project so the question was
basically around benefits of like tapping into uh an outsider outsider company or organization that
would host it for you do i even need to do we need to vocalize the benefits of it or like it's pretty obvious
um you go ahead guys if you have some thoughts on it
awkward silence
i'll jump in there um yeah the benefits of having a third party run it um obviously is uh the simplicity
of it right within a couple of clicks and maybe a credit card thrown onto uh the hosting of it
it is a very very easy thing to do and the best part is it's like you don't have to as long as you
choose a fairly good hosting uh service um that has well established uptimes and speeds and things like
that to handle the type of node that you're running uh you know it can be a pretty rewarding uh type of
experience but likewise just be mindful that they depending on who you choose they they do take
their cut um of running it or they do charge you pretty pretty hefty up front because they know that
they're not getting um you know associated with those fees uh likewise you know a lot of it has to do
with your um your quality and your up speed and there's a lot of different requirements that come
to running a validator node so that you will just call it you stay in the good graces of the network
so that you are one of the you know um kind of up and up and most notable type of uh nodes that are
being ran and respected uh that can also come into play as well as a variable so if you don't have
good uptime speeds you're not constantly running your node um you know people aren't staking to your
node to to add benefit and and things like that it can cause you to not be as lucrative in your amount
of rewards that are earned so it is kind of a balancing act so uh do your own research this
isn't financial advice by any means but uh definitely research the the chain that you're going on
the reward systems the requirements you know things like that and then a plan accordingly
yeah i'll just jump in there too um i think that yeah definitely run your numbers you know if it makes
sense go ahead and do it but if it doesn't make sense it doesn't mean you can't participate you
know in some blockchains they have something called delegate staking um where if you if you're not
competent if you don't feel confident and being competent and running the technical side of things
i participate in that too um i've i've done i've done it all right so run your numbers if it makes sense
to do so um you know maybe use a third-party provider help you out if it doesn't make sense using
a third-party provider maybe there is option for you in delegate staking or something like that
um brilliant i think that that would cover um you know the basics for each um if any of you guys got
anything to add please go ahead yeah i think um we've come a long way in uh in running uh machines
these days i mean i go back to my uh my history when you used to crank the machines up no seriously
um you know you used to set up your uh your servers and it take um hours upon hours and um you know you'd
have to feed it all the disks you'd have to do all that sort of stuff configure it uh do all that
sort of thing these days it's a simple matter of um of running an image you know it could be a docker
it could be anything really um and it's basically set up for you so uh these days um most um most
projects will provide you with uh um fairly simple instructions to uh to actually get it up and working
so don't um don't panic about it i think um uh you know there's enough information out there i think uh
you know we've got people on the call uh tonight that have uh you know that have uh probably first
time others that have been doing it for years which is fantastic um and it can be very rewarding
exactly see we we have to you know accommodate everybody that's um that's very important i think
it's very important for adoption in general senses um you know the more education we provide the more
um users are you know establishing some sort of trust towards crypto and web3 industries so you know
that's the aim that's the goal one more question and within the community questions right which is more
like we actually quite uh specific but i also think uh we should definitely respect it so uh this is for
those who already are running nodes uh from their home so what is your strategy for downtime when you
may be away from home for a longer period of time like um you know let's say you're on holidays for a
couple of weeks uh is there any specific strategy you could think of guys your expertise is absolutely
priceless tonight oh sorry this hour tonight code is morning um whoever is where but anyways any specific
strategy for running nodes uh when you are away and nobody else is to look after your node
make sure the water reservoir is full set the ac at about 23 degrees c and just hope for the best
but actually um i have a friend who lives in the same town and what i've thought about if i'm on a longer
holiday is to um put like a webcam on my machines and uh just have him stop by once in a while or i can
i can call him if if something goes awry but you know what here's what i'm going to say like this is this
is not about nodes it's about computers the longer it runs the more reliable it is and it doesn't it seems
like not really it doesn't seem like it means that much but i will give you a a true story last couple
weeks ago i had a brand new machine from our hosting provider at rowdy and it motherboard caught on fire
and it died like lost a motherboard on a brand new machine and that was the problem like and meanwhile
i've got machines that i literally drilled holes in them and put like uh water cooling rigs on them
and they're from like 10 years ago and they're sitting there hosting nodes hosting websites hosting
everything sitting at my house and those things are rock solid so like the most important thing is
for a computer the longer it runs the more reliable it is so because you find out what the problems are
over time wonderful it sounds like node hosting node is pretty much totally planned yeah i totally agree
with that baby ben what you've got i think yeah that's that's perhaps where cloud is like an interesting
counterpoint to that if you if you are hosting a validator or a node on a cloud instance you don't
necessarily have to worry about that it's going to run pretty much 99 of the time
the only downside to that is there's more of a cost right so it's if you are planning a lot of
holidays and not being at home that much to maintain your machine it might make sense to look at um
cloud or both you know cover your bases so you can take your holidays and not have to worry about
maintaining it but then equally um lower your cost of running a validator with a machine as well
then you've got like semi um semi hosted so or semi stuff like rowdy you know the company i'm a cto uh
we make a product that you can put in your house and it does some some wi-fi internet sharing type of stuff vpn
and those products we're watching over them from the central office so i mean obviously if it loses power
that's you know we can't fix that but a lot of issues we can remotely repair like with a reboot
and you think about like your cable modem that's hosted at home and yet it is quite reliable so i
mean reliability is something that can be done if if it's something that you care about so at rowdy
is something we really care about so you know we try to make our our products as reliable as a cable
modem brilliant thank you so much guys um i think for now i am done with my questions and my input my
two penny so cody mike um anyone else please feel free to jump in if you have any questions or comments
please go ahead but um i thank you all and i will remain silent from now on
you're good anna uh thanks for uh bringing those uh community questions those are two great questions
so my last question is uh that we've definitely been talking about what it takes to uh run a full
validator run multiple validators and the commitment behind it um but we've also talked about how
incredibly empowering it is to be a direct participant in the infrastructure as well so with that being
said um how might an active role in a blockchain by hosting a node uh shape the future of finance of just
not finance but every other aspect of blockchain technology how will that change um our lives and and where
could you guys see node hosting going in the future
i mean the potential for for passive income is pretty huge right if you can
get in early to a few good projects and start earning a reward
you've effectively kind of created a job for yourself to some degree i think it also then gives you a
a head start on the specific use case of a particular protocol like if i take alchemy for example there's
a lot of services that i'm sure that we haven't thought of that may benefit brands that are looking to
advertise on websites or websites that are looking to increase the revenue from the ad slots that they
sell and by running a validator by getting under the hood of the network itself you may
uncover a solution that you think you can create you have a validator by which you can add that to the network
speak to people that are running the protocol like it's a really good ticket into projects
and more so than just holding a token you know it allows you to become actively involved
but doing that for multiple projects can then lead to what is a really nice passive income and yeah i mean ultimately
quit your job and go full-time crypto which is kind of what we're all here to do right so yeah that would
be um for the individual it can be pretty significant
yeah i i i would definitely agree on that um i like to think of passive income crypto especially nodes
i call it the new annuity you know if you guys know what annuity is it basically pays you out
a set amount of money fiat money but now we're just changing the i guess the mechanism of the money
into digital money you know so um definitely something that's interesting especially getting
early on i could think of been the space for a while i remember when um dash just released her
nodes pia you know i think it was tossed 10 000 or so to get in on that but you know looking back at it
that would have paid dividends upon dividends so um there's opportunities there's also risks um but
you know if you're able to pick a winner it could you know play out big for you
yep 100 agree with you and uh to kind of shill our stuff i i think might correct me if i'm wrong but
i believe that we've um i think we have a couple of of full validator and event niss
listener nodes still available for purchase is that correct i think i think there's some still
left uh yeah i can't remember what we've got left actually um but i don't i know uh we've sold out on
one uh on one of them that's for sure um but that's not all we're going to be getting so you know as our
network grows uh we're going to be requiring a lot more when you're sitting there uh processing
transactions uh you know cross chain uh already eight chains um and uh we've just been discussing
today how we're adding a whole bunch more chains we're just going through that process of deciding
what we're going to add um no i'm not going to give any uh um any alpha tonight uh we'll hold that
off but um yeah we've got a lot more coming up imagine being able to go cross chain to uh you know
uh 15 20 different chains without uh without bothering with with using bridges anymore
so casual yeah it's it's but it's normal for us yes you're so right so it is casual but you know
everybody's out there thinking about oh how am i going to bridge across to you know um between solana
across to uh to eth or to wherever um we're just doing that that's just normal for us
yeah evm does it matter should it matter that's a whole nother story isn't it so if you guys are
into hosting nodes and want to get in on an early opportunity as you can hear by uh chief's uh kind
of alpha that he's dropped we are definitely multi-chain and if you see those happening um
um you know that those transactions are going to start adding up into the hundreds of thousands
very very very quickly so uh as uh dub and and ben basically said a few minutes ago that it is
definitely hosting nodes are are a great passive income play not financial advice but uh definitely
do your own research but it is an opportunity to kind of tap into something new um and l1x might
be a great opportunity for you guys to get into something new especially if we start going
cross-chain uh because you think of all the bridges and how much transactions they do
on a daily basis it's it could be a lucrative uh uh opportunity to host a node so well there was some
um really tiny chain um uh it's been going for a little while i think um most people probably
probably haven't heard of it cody um that we will be connecting fairly soon as well uh as one of
those extra extra chains what was that one again start of the b from memory
be good i i can't remember
something like a b coin or something it was it could have been bitcoin could yeah i don't have
anything yeah oh yeah bitcoin yeah yeah caleb might like that one since he's a bitcoin og
yeah yeah so anyways uh we're starting to ramble but anyways thanks everybody for your time uh we
appreciate it uh please if you haven't done so already uh i believe that this has been a great episode of uh
just generalized token or excuse me node hosting uh what nodes are that kind of thing our panelists have
definitely uh earned a follow from you so if you haven't done so already please please go through
and give each of our panelists a follow they definitely deserved it and earned it today um we
appreciate them taking the time out of their busy schedules um to to uh come on and share their expertise
and their knowledge um we've made some good new friends today i've definitely followed everybody
on the panel to the side of things today uh likewise be sure to share this out to your friends that are
considering possibly hosting nodes um and uh are interested in that uh this is a great precursor i think into
hosting nodes um likewise there are a lot of different communities out there especially on the various
chains uh that you can get involved with that to uh ask questions uh that's one good thing about
crypto that i've discovered in my seven plus years of of being involved in crypto is that i haven't well
i can probably count on one hand the amount of communities that i've found that are not helpful
and don't want to help rest of the time everybody else's seems to be extremely helpful and knowledgeable
in what they're doing and are here to actually generally help people because we're all in this
together and so with that being said thanks everybody for attending and uh keep working
towards uniting and um bringing all of crypto together and have a good evening morning or afternoon
wherever you're at in this world and we'll catch you on the next x talk ama goodbye everybody we'll catch
you later thanks for having me it's been great cheers thank you guys thank you so much cheers everyone
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