VIPNODE: Ethereum Geth Light Client For Full Node Rewards?
What Is VIPNODE?
Vipnode is an economic incentive used for running Ethereum full nodes to avoid network clogs. Full nodes contain a total copy of the Ethereum blockchain and keep a record of every transaction as it happens.
The goal of the project is to permit the Ethereum network to stay decentralized by the creation of a financial marketplace that gives more people an opportunity to run full nodes and valuable Ethereum infrastructure and be of service to native light clients in the peer-to-peer network.
How VIPNODE ETH Geth Light Client For Full Node Rewards Works
The first version of Vipnode is running a Go-Ethereum node that is modified and has a script that tracks the smart contract used by new subscribing nodes. When a user pays for a VIP membership, the script whitelists and adds their NodeID to the set of trusted nodes. When a user connects with the NodeID, they are able to go to the front of the line and avoid the normal server limits.
Users can also freely connect to a Vipnode. Every Vipnode allocates at least 25 slots to various public light client peers and regular peers. The goal of the incentive is to be a good citizen of the network and be able to give back to everyone easily.
When one starts their go Ethereum client, the Vipnode prints out the users own enode identification. This in turn converts the public key of the user's node, which will then be used, for authentication purposes.
VIPNODE Second Version
The second version of Vipnode allows a number of different subscription models in terms of Vipnode pools. By the designing of the Vipnode pools, a full node can join the pool and thereafter start earning proportional revenue by being able to serve VIP subscribers in the project. The pool is designed as a method of weighing the demand of the market. Anyone can easily start a pool and deposit initial client funds to the pool so as to encourage more people to begin running full nodes on the network. Some of the categories of the Vipnode pools are:
- Vipnode pools for managed clusters.
- Pools reserved for Risky experimental features.
- Pools set aside for non-standard extended API support.
- Pools accessible by big miners
A Vipnode bootstrap server brings usage balance across a number of Vipnode. There is also custom ethstats servers on which Vipnode clients can easily use to track the time that clients spend on each Vipnodes in order to calculate payouts.
Reduced Network Clogs
Vipnode seeks to reduce problems brought about by light nodes, which causes the Ethereum network to clog due to an increased number of users. The network aims at making transactions fast and uninterrupted.
Increased Full Nodes
There are only a few full nodes available on the Ethereum network to be used for servicing the light clients. Vipnode aims at increasing the number of people who run full nodes thus increasing the efficiency of the whole network.
Vipnode has a program where its users can earn profits by serving the VIP subscribers in the incentive. Users are given an opportunity to earn and at the same time campaign for more people to use the full nodes.