January 18, 2024
2023 Recap
Infrastructure
iVerse Vision 2023 Recap Part 2: Infrastructure
At iVerse Vision, we’re proud to help bring the transformative potential of blockchain technology to life.
One way that we do this is through our network of validator nodes and other advanced Web3 infrastructure that help make the digital world more safe, transparent, and democratic. After first starting as a staking provider in 2019, we have worked hard to continuously innovate and improve our services every year.
2023 marked another year of relentless progress as we securely maintained all of our nodes while also exploring new types of infrastructure and new ecosystems to stay ahead of the game.
As a staking provider for EGLD on the MultiversX Network, iVerse Vision is proud to have achieved 99.99% uptime last year.
Our successful track record in 2023 included 137 validator nodes that we securely operated on MultiversX mainnet. Also on MVX mainnet, we hosted 137 backup nodes, 8 full archive nodes, and 10 observer nodes.
We also supported developers and Web3 pioneers by maintaining dependable infrastructure where they can test out innovative new applications, including 4 validator nodes on MultiversX testnet and 16 validator nodes on devnet. We continue to host 4 full archive nodes and 4 observer nodes on devnet as well.
Last year, we also hosted two relayer nodes for the MultiversX Bridge: an Ethereum Bridge Relayer and a Binance Smart Chain Bridge Relayer. To learn how to use this bridge, make sure to check out our tutorial video below:
As we look ahead to 2024, iVerse Vision is excited for the launch of Staking Phase 4.0 for EGLD validators. This upcoming change is expected later in Q1 as part of the Vega Upgrade (v1.7.0) that was voted upon in the MultiversX Agora governance hub.
What does Staking Phase 4 mean for staking providers and the broader EGLD community?
This phase will introduce a dynamic auction system for validator selection instead of the previous fixed staking model. This market-driven approach enhances network security and efficiency by ensuring a more diversified and dynamic validator base.
The concept of top up is crucial for this new phase of staking. Top up means the amount of EGLD staked per node beyond the current 2500 EGLD minimum threshold that is required for active nodes. Under Staking Phase 4, the size of each node’s top up will help determine whether it receives rewards or not. We expect this new system to encourage further healthy competition among validators in the ecosystem.
Overall, this upgrade will increase decentralization while making the staking provider community more diverse and dynamic. We are prepared for this next chapter and ready to adapt as necessary as we work to help Web3 reach its full potential.
In the increasingly multichain world of Web3, iVerse Vision is also excited to rise to the occasion and broaden our horizons.
We conducted extensive research in 2023 about which blockchain ecosystems would allow us to maximize our impact and best apply our existing technical expertise. While we cannot reveal the results of our findings yet, we can already share some of the characteristics that we focused on:
By expanding to one or more new blockchains, we look forward to growing our network, diversifying our operations, and capitalizing on valuable new synergies.
As 2024 gets fully underway, we remain eager to keep raising the bar and pushing the Web3 space forward. In addition to joining new ecosystems and adapting to new developments in the staking world, we will also continue improving our existing services.
For example, we have already begun implementing a multikey node management architecture to our staking infrastructure. We expect this new approach to have several benefits for our community and add another layer of security to our tech stack as a validator.
Stay tuned for more details about our progress in 2024 and make sure to check out Part 1 of the iVerse Vision 2023 Recap in case you missed it. And for all the latest updates about Web3 infrastructure and more, join us on Twitter and Telegram.
If you have any questions, we look forward to hearing from you!
Founded in 2019, iVerse Vision is a full-service Web3 solutions provider based in Zug, Switzerland. The company’s team has extensive experience maintaining high-performance infrastructure, developing cutting-edge products and educational content, and incubating blockchain startups across a wide range of industries such as DeFi, GameFi, and Metaverse.
