Jul 08, 2018
Announcing Node as a Service
In the last article we teased that we’d be soon announcing a new product, one that will be an alternative to staking, benefit contributors and involve the ChainLink Node Operator GUI. We’re pleased to announce that this new product is Node as a Service (NaaS).
What is NaaS?
This service is a more hands-on approach for node operation, but without the need of technical understanding on how to build and manage infrastructure. We simply provide you a brand-new node, and then it’s up to you on how you manage your identity on the network and the data you provide.
We’re taking the same reliable and flexible infrastructure that was built for our staking platform and are simply allowing anyone who wants to run a node to use it. We manage your redundancy, backups, upgrades and security; all you need to do is manage your staked tokens, data and identity.
The LinkPool Staking dApp still has the priority in-terms of development, we’re anticipating that staking will be released first, and NaaS will be released at a later date.
How will it work?
We host the node, you manage everything else. As we teased this product, we stated that it would involve the ChainLink Node Operator GUI:
Node GUI - Job Run Detail
As a NaaS customer, since you will be given your very own Node that runs on our infrastructure, you’ll have sole and complete access to your GUI and API. This means you’ll be able to log-in, see what data your node is providing, check your Ethereum/LINK balances and what adaptors you’re offering.
Like mentioned, this allows you to focus on the data you’re offering and your identity without managing the infrastructure behind it. You can be assured that your node will be updated, you’re using our high-availability Ethereum cluster and there’s backups with disaster recovery in-place. This results in giving your node a constant uptime, providing a higher reputation and a higher probability of facilitating more data requests.
Cost / Fees
NaaS a service will not work in the same way as staking, as we will not be taking % cuts of the LINK earned in node operation. Instead, this will be a subscription service, facilitated by Smart Contracts.
The payment for this subscription will be the LINK token, and we’ll be looking at using ERC948 when finalised, or something very similar to for the subscription contract.
If you wanted to use our NaaS product, you will simply deposit LINK into this subscription contract and once the transaction has been confirmed, a node will automatically be created in our infrastructure for you to use and manage.
We are not announcing a price today for this service, that will come at a later date.
One question you may ask is, if your node is located within our infrastructure, wouldn’t we have access to your staked tokens? Simply put, no. Since the tokens staked within the network will be held within ChainLink contracts, you can transfer the ownership of these tokens away from the node to your own address, including hardware wallets. In practise, this means that your node doesn’t have the ownership to be able to withdraw tokens to its own wallet, only the wallet that is in your control.
Adaptors and Data Sources
With NaaS, you will also have the option in paying extra to gain access to our external adaptors and data sources. This extra part of the subscription will give you full access to any premium subscription based API’s with their adaptors that we offer to the network, for you to add to your own node.
Benefit to Crowdsale Contributors
Since the subscription payment for this service is all done through Smart Contracts with the LINK token, all revenue made from this service will be sent to the same crowdsale contract.
This means that for all the LINK tokens that our NaaS service generates from its subscriptions, 25% will still be distributed between the our crowdsale contributors as well as the 25% on all rewards from our staking platform!
Our crowdsale is still open for KYC but will be closing on the 31st of July at 12pm UTC and so far we’ve raised over half of our goal at the time of writing (531/1000 ETH). Any unsold shares will be distributed proportionally to existing contributors.
We’ve taken this opportunity to refresh our website to reflect and detail our new product and the staking application, feel free to check it out and read more into our current offerings.
If this is the first time you’re hearing of LinkPool and what we’re setting out to achieve, check out the following pages:
Thanks for reading!