AMA Session between Matic Network and Ankr

Hello everyone, it’s Precious and in this article, I will be giving you a rundown of the AMA session done between Matic Network and Marco, CEO Ankr

It was hosted by DelRoy from the Matic Network Marketing Team and few questions were asked and conversation was thus,

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: Hey Everyone! Please welcome Marco and Daniel from Ankr Network Team. They have joined us today for yet another Validator AMA in the series of AMA that we are conducting with various Validators. Marco and Daniel Imkk would you like to go ahead and introduce yourselves to the Community?

Marco | Ankr: Hey all, it’s great to be here today in the Matic community!

Daniel | Ankr: Hello hello! Nice to be here!

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: It would also be nice if you guys can give us a brief introduction about Ankr as well

Marco | Ankr: So I am CMO at Ankr and basically responsible for all marketing and PR related activities and have been working close together with Matic since early 2019 already. So some of you will know Ankr for sure, as we have been partners with Matic for a while already, since early 2019 as mentioned. Ankr is a Web3 company in the sense that we connect consumers, developers and enterprises to the new internet, the Web3. being a Web3 infrastructure provider, Ankr allows users to spin up nodes, get instant API access to major blockchain and DeFi protocols, or set up enterprise-grade infrastructure in a few easy clicks (as we require zero technical knowledge from our users). Recently we also launched Stkr, our decentralized ETH2 staking protocol.

Stkr is DeFi staking platform with non-custodial management, Micropools, instant liquidity and decentralized governance. It’s also the first platform to successfully launch staking-as-a-service for ETH2, with the minimum deposit set at 0.5 ETH.

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: Oh yeah! I have actually ready and heard a lot about Stkr. How is that doing btw?

Marco | Ankr: It is doing pretty well, we recently passed the milestone of 10,000 ETH staked and liquidity for our ETH2 bond token aETH is already around 880k on Uniswap

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: So would you like to tell us more about Operating Nodes. Which other networks are your operating nodes on and how do you pick and choose?

Marco | Ankr: So we have started this node running business in December 2019 and have expanded it pretty agressively over 2020. We currently provide direct access to 30+ staking nodes — so it’s safe to say that we cover all major networks including Ethereum, Polkadot, Chainlink, Binance Chain, Elrond and of course Matic. We are very versatile in that regard, and it’s been an important part of our strategic vision.

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: So what made you guys choose Matic to operate your node on?

Marco | Ankr: Moreover, we’re constantly on the lookout for the very best and most popular blockchains to support, so stay tuned for new announcements!

About Matic, Matic have been our long time partners and as one of the best layer-2 scaling solutions out there, initially we started out to explore implementation to make the Ankr network faster. It was actually one of the first nodes we built, when Matic was still in testnet phase, and we worked with Matic all the way toi mainnet and here we are today!

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: Yeah, I remember working with Daniel and Flavian on the testnet for running One Click Setup nodes and testing them out. It was a really good experience and we have come a long way.

Marco | Ankr: Yes, exactly. We have also been very much in contact with Sandeep and at the time Chandresh to work together on promotional activities and even did a meetup tiogether in India!

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: So in order to operate your node efficiently, what are the measures you guys take to ensure that you maintiain a high uptime and availability?

Marco | Ankr: Daniel, this one is for you

Daniel | Ankr: Sure! First of all we had to choose an environment to host our nodes on. An obvious option for us is to use our own datacenter, which has proven its stability in various projects hosted by us, including other validators such as Skale, Oasis, Nucypher and much much more.

Second thing is to make sure the node is maintained correctly. For that we have setup process manager to keep node running even if it fails. And of course health checking, which is quite important to have, as you can’t alway monitor the stability of a node working. So even if something goes wrong it recovers right away

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: Nice and I’m sure with the experience of running 30+ nodes, you must have a developed a robuts process in monitoring all the nodes concurrently. Also, I’d like to englighten the community that the reason Ankr’s uptime is on the lower end is because they were migrating their entire setup to their own DataCenters. The process was too long and took too much time and hence they lost out on the performance. But ever since they have been running their node efficiently. So in terms of Delegation, we have opened the delegations now to external nodes? Why do you think delegators should delegate to your node. I mean what would be the benefits for them?

Marco | Ankr: Correct! We have had to upgrade our infra for the launch of Stkr, but we are all good now. Well, you basically mentioned it yourself already. We have been building nodes for over 40 different blockchains and have a lot of experience building, running and updating nodes. Users don’t have much insights, other than uptime and commission, but I think to be safe, a user should always choose a reutable company to delegate their tokens to. Our commission is on the lower end with 4% and our uptime has been 100% after finishing the infra upgrade in late November

DelRoy, Matic Network: That’s pretty attractive. I’m sure the community will have a heated discussion about that commission rate.

Marco | Ankr: As earning commissions on delegated funds is not our main business or source of income, we can actually do with lower commission rates. Also we use our own infra which is a lot cheaper than for example AWS or Digital Ocean.

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: Thanks for sharing that with us! What kind of concerns do people have when considering who to delegate to and how do you address these?

Marco | Ankr: Daniel, can you take this one?

Daniel | Ankr: I would say the biggest challenge in running a validator is maintaining the nodes and making them work stable, while that requires some technical knowledge, which not all of us have time to gain. Basically that’s why we have two roles here with Matic. One is the Provider (Validator) and the Delegator.

— — — — — — — — — — — — — — — — — — — — — — — — — —

DelRoy, Matic Network: Thanks for that response Daniel. And I think you’d be able to take my question as well. What are the first things you’d encourage someone like up and coming Validators on POS networks to consider before getting started?

Marco | Ankr: Daniel, Up to you!

Daniel | Ankr: The first and most important thing is to explore the network deeply. As a POS network can bring profits it can lead to losses, for example slashings. So having a good understanding of what actions can be done and what are the restricted ones is a must have And another thing is to secure the validator. In case of Matic this is done using a Sentry node, which takes all the external connection on itself, protecting the validator from atacks. While Validator has communication only with Sentry node, making it secure and not available to “external world”

DelRoy, Matic Network: Thanks for that response Daniel. Detailed and insightful. Well, I’m going to opening up the channel to the community now

— — — — — — — — — — — — — — — — — — — — — — — — — —

The AMA session was one of the best as attendees were satisfied with the answers gotten during the AMA session.

— — — — — — — — — — — — — — — — — — — — — — — — — —

For More Information about Matic Network
Website: https://matic.network/
Whitepaper: https://matic.network/matic-litepaper.pdf
Telegram Group: https://t.me/maticnetwork
Twitter: https://twitter.com/maticnetwork
Github: https://github.com/maticnetwork
Medium: https://medium.com/matic-network

Content Creator || Blockchain Ambassador || Public Speaker