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The Decentralized Sequencer (dSeq) voting process concluded on June 28, 2024, following a competitive selection process among 33 proposals submitted to Metis Community Ecosystem Governance. We are thrilled to announce the winners of this sequencer node selection round and explore the benefits these new Decentralized Sequencer node operators bring to our ecosystem. This milestone represents significant progress in our efforts to achieve full decentralization and shared network ownership.
Independent 3rd party sequencer node operators bring diverse expertise to the network, driving innovation in node operation and network optimization. Their varied backgrounds and operational environments lead to novel solutions for common challenges. The ensuing diversity cultivates competition, resulting in improved performance, security practices, and operational efficiency.
A major advantage of running a Decentralized Sequencer node is shared network ownership. The consequences of sharing network ownership with these operators are crucial. It aligns their interests with the network's success, incentivizing long-term commitment and responsible operation. As a result, this shared ownership model promotes decentralization and reduces the risk of centralized control.
Users benefit significantly from this approach. They experience improved network reliability and enhanced security. The diverse sequencer node operator base also leads to more resilient infrastructure, reducing downtime and ensuring consistent service. Furthermore, the competitive environment often results in better performance and improved user experience as operators strive to attract more transactions to their nodes.
Our network benefits by aligning the interests of sequencer node operators with our network’s through shared ownership. The better our ecosystem performs, the more value the sequencer nodes receive. This provides a reason for sequencer node operators to actively improve and expand the ecosystem. With a vested interest in the network's success, operators are motivated to attract new decentralized applications (dApps) to the platform, leveraging their industry connections and expertise to engage with developers and user communities.
This model not only strengthens the network technically but also creates a more sustainable ecosystem for all stakeholders.
Applicants aiming to become Decentralized Sequencer node providers need to meet these specific requirements to support the Metis ecosystem effectively:
This stake ensures the commitment and reliability of sequencer node operators to serve multiple purposes:
By meeting these requirements, operators help decentralize the network, enhance its security, and contribute to its long-term stability and success. METIS tokens for staking can be obtained from the open market or through mining in the Sequencer pool by locking METIS.
The first cohort of independent sequencer node operators consist of 6 providers with a range of experience and in-depth industry leadership.
These 6 selected sequencer node operators emerged from a pool of highly qualified candidates, each bringing unique strengths and expertise to the Metis ecosystem.
Enhanced Decentralization: The addition of these new node operators is a crucial step in moving from a centralized sequencer to a distributed pool of sequencer nodes. This change greatly improves the decentralization of Metis, reducing the risks associated with a single point of failure. By distributing responsibility and control among multiple independent entities, Metis ensures a stronger and more resilient infrastructure.
Improved Security and Censorship Resistance: With decentralization, our network gains increased resistance to censorship and transaction manipulation, providing a more secure environment for users and decentralized applications (dApps). This diversity in sequencer node operation helps safeguard the network against potential vulnerabilities and attacks.
Increased Reliability and Scalability: As the network scales with more nodes, it enhances liveness capabilities and economic security, ensuring efficient and reliable performance even as the ecosystem grows and usage increases. This ensures business continuity and paves the way for enterprise adoption of blockchain technology.
Network Ownership: The Decentralized Sequencer upgrade brings a significant advancement in the form of shared network ownership. Entities that operate these nodes become important parts of the network's infrastructure, gaining substantial influence and governance rights over Metis's strategic direction. This empowerment breeds an environment where sequencer node operators benefit from actively contributing to decision-making processes and network governance, co-creating the future of Metis.
Empowering the Community: Shared ownership empowers Decentralized Sequencer node contributors by giving them a direct stake in the network's success. Node operators, as part owners, have a vested interest in maintaining the network’s integrity, security, and performance. This alignment of interests drives continuous improvement and innovation within the ecosystem.
Long-term Sustainability: The distributed ownership and governance model contributes to the long-term sustainability and growth of Metis. As more nodes join the network and participate in governance, the ecosystem becomes increasingly resilient and adaptable to changing conditions and challenges.
As we celebrate the success of this selection round, we also look forward to upcoming opportunities for expansion and further decentralization. Future voting rounds will allow new Decentralized Sequencer node operators and Liquid Staking Token (LST) protocols to join our ecosystem.
We encourage our community to stay engaged and look forward to the next step: onboarding these new sequencer node providers. This is a crucial step in further strengthening our decentralized infrastructure.
