The Role of ChainGuardians Within ChainStats
ChainGuardians play a vital role in ensuring the quality and accuracy of data within the ChainStats ecosystem. With their utilities as verifiable credentials and data validation passes, they contribute to the decentralization & scalability of the platform. By actively validating multi-chain data, ChainGuardians uphold the integrity of the ChainStats ecosystem.
What Are ChainGuardians?
ChainGuardians play essential roles within the ChainStats ecosystem, providing verifiable credentials and ensuring the validity of data. Each ChainGuardian will have 75,000 STATS attached, serving as a collateral value to validate on the network.
To participate in data validation, users need to acquire a ChainGuardian NFT, which serves as the users access pass & registration with the ChainStats Foundation, and set up the necessary hardware and software.
ChainGuardian NFT passes can be viewed here.
As the ChainStats platform develops and integrates new features or networks, additional ChainGuardians will be minted to further secure and decentralize data validation on a larger scale.
ChainGuardians are integral to the validation of data within the ChainStats platform. Validators are compensated with STATS tokens for their contribution to maintaining the ecosystem’s decentralization and data accuracy. A table outlines the rewards distributed to active ChainGuardians who validate data in and out of the Node Portal.
A total of 10,000,000 STATS (10% of total supply) is initially allocated to ChainGuardians, distributed over a 10-year period, with monthly distributions for active operating ChainGuardian node operators.
As the pool depletes over time, the ChainStats ecosystem and core team will implement solutions to replenish validator pools using other tokens flowing from subscriptions and services to ensure there is fair compensation for validators offering their resources.
MasterGuardians
MasterGuardians, alongside ChainGuardians, oversee data entering the Node Portal and serve in a supplementary support and validation role. They are solely owned by the ChainStats Foundation as a means to ensure the ecosystem continues to operate as intended under specific circumstances.
Their primary function is to ensure there is sufficient throughput and validators, or handle sudden increases in data volume that require quick scaling solutions.
The rewards model for MasterGuardians is identical to that of ChainGuardians, though with a pool allocation of 5,000,000 STATS (5%). This pool will also be replenished over time through various utilities and functions of the STATS token, ensuring a sustainable and continuous flow of data validation.
In the initial phase, 100 ChainGuardians and 100 MasterGuardians will be launched to scale operations. While more of both validator types can be minted, the amount of MasterGuardians will never exceed the amount of ChainGuardians.
Maintaining a high level of accuracy and precision in the validated data is of utmost importance for the ChainStats application. MasterGuardians contribute to this effort by ensuring there are sufficient active nodes for security, scalability, and decentralization purposes as the ecosystem continues to grow over time.
Protecting The Node Portal
ChainGuardians and MasterGuardians play crucial roles within the ChainStats ecosystem, ensuring the reliability and security of its data in a method that allows for maximal decentralization and scalability as we expand the network.
While simultaneously building a further connection with the foundation and core team, through uniting for a single goal to ensure the highest quality of data validity from the Node Portal
The hybrid setting of ChainGuardians and MasterGuardians enable both the community, and the core team to provide their resources to scale and secure the network. It’s what can allow ChainStats to offer validated industry grade on-chain data for businesses to innovate their workflows at scale.
About ChainStats
ChainStats is an on-chain data ecosystem built for analytics, data aggregation and multi-chain consensus in blockchain data to enable utilization of on-chain data for industry purposes, ranging from analysis to leveraging the validated data through third party applications. Founded in 2022 by Brian Jun and Joshua Milbers in Delaware, US.
They are one of the early pioneers in building a platform to allow enterprise purposed on-chain data to enhance and build new business workflows through decentralized multi-DLT validation. For more information, visit the company website.
