[MSP] Modular Security Pool
Overview
The Modular Security Pool (MSP) is a module that acts as a pool gathering staking security from various established Layer 1 blockchains and distributing that security to new networks, including DePINs and DePIN Infrastructure Providers (DIMs). This allows new networks to inherit the security of the underlying Layer 1 blockchains without having to build their own security infrastructure from scratch.
Stakers can support a new network by pointing their stakes to the validators of the network, who are responsible for validating transactions within the network.
How does it work
The Modular Security Pool (MSP) architecture is designed to streamline and secure the development of new networks, specifically DePINs and DIMs, by inheriting security from established Layer 1 blockchains. Here's how it operates:
Stakers Delegate Assets: Participants in Layer 1 blockchains like IoTeX or Ethereum delegate their assets to the MSP, enhancing the security of MSP-powered networks.
Stakers Choose Validators: Stakers select validators from a pool associated with DIM or DePIN networks. Validators run nodes to secure the network and validate transactions.
Validators Run Nodes: Chosen validators operate nodes within the MSP network, ensuring transaction integrity and security.
DIM Builders Establish Networks: DIM and DePIN builders develop their networks, including on-chain and off-chain components like data streaming, processing mechanisms, storage solutions, automation tools, cryptography schemes, and authentication modules.
Incentivizing Stakers: DIM and DePIN builders incentivize stakers to allocate assets to their modules within the MSP through rewards, network tokens, or other benefits, ensuring sufficient motivation for participation.
Distribution of Staking Security: The MSP distributes staking security to new networks, leveraging pooled security from Layer 1 blockchains and the participation of stakers and validators to ensure the security and decentralization of these new networks.
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