Luganodes is forging a path for retail and institutional investment in Proof of Stake (PoS) networks, delivering top-tier blockchain infrastructure and providing clients with the very best products to ensure their success now and into the future. They are based out of Lugano, Switzerland (hence the interesting name). As advocates of secure staking solutions that are both efficient and scalable, Luganodes will be integral to powering Proof of Stake projects worldwide. Let’s take a further look into how PoS operates and the nitty-gritty details of the Luganodes project.
What is PoS?
PoS is a consensus mechanism used in distributed ledger technology (DLT) networks such as those based on blockchain. In contrast to the more commonly known Proof of Work (PoW), PoS does not require miners to solve complex mathematical problems to validate transactions and secure the network; instead, validators stake their digital assets – cryptocurrency tokens such as Ether or Avax – as collateral for verifying blocks. This process is referred to as staking. In return for staking, most platforms and projects offer yield at varying rates.
Luganodes has quickly established itself as a reputable staking provider through its commitment to excellence and efficiency. To date, it is the world’s fastest-growing staking service with over $700 million of staked assets on 10+ networks. The company boasts impressive performance indicators such as a 99.99% uptime rate without missed blocks across multiple platforms – making them a top staking provider. Institutional investors have been keenly impressed which has raised both trust and capital for Luganodes’ continued growth trajectory.
Essentially, Luganodes owns and operates multiple validator nodes across multiple different networks. They provide a way for users to stake directly to the validator node without having to run and maintain it. As of now, here is a list of the networks that can be staked:
– Tron, Solana, Kusama, Polygon, Cardano, Near, Radix, Cosmos, Polkadot, Zilliqa, Aptos, Avalanche, Ronin, Ethereum –
A few things stick out right away.
First, users have to access ‘staking guides’ from the Luganodes Medium account (via their LinkTree). This is strange because the staking guides should be located directly on the Luganodes website. This makes the user experience feel disjointed and it’s just an unnecessary step that could be easily solved. They could just add a ‘Docs’ section to their website with all the required guides and also add a ‘Wallet’ section with a link to wallets for each network. Better yet, although I’m not sure this is possible, why can’t users stake directly from an integrated dApp?
Second, there are some mismatches between the number of live networks listed on their website and the number of live networks that can be figured out via Twitter searches. This could also be fixed with a simple website update.
Third, the Contact Us and Join Us links at the bottom of the site aren’t working. This is sloppy and doesn’t give potential stakers much confidence.
Overall, I believe Luganodes is set up for institutional stakers, even though their staking guides have considerations for retail stakers. There are far easier ways for individual stakers to do so on their favorite networks. However, I do like the concept of a one-stop shop for all your staking needs across a wide array of networks. But if they want adoption to increase (especially with retail) they will have to upgrade their UX and UI design, and fix those broken links!
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