Much attention is paid to the decentralization of the Bitcoin network.
Bitcoin miners should set up a shop in many different constituents to prevent any type of network regulation, so thinking goes. Some members of the crypto community have also seen 2021 banned China’s crypto ban as it forced mining operations – until then clinging to the middle kingdom – to spread to various other continents.
That discourse is not widespread when it comes to proof-of-stake networks such as Ethereum and Solana, but the staking firm Senseinode aims to make blockchains as elastic as possible by rotating the validator infrastructure in Latin America.
“When we started, 99% of the nodes were found in Europe, the US and some Asia,” Senseinode CEO Pablo Larguia told CoinDesk in an interview. “We were the first to bring geography and scope of decentralization to Latin America.”
With approximately $ 800 million worth of possession Staked Through its platform, Senseinode is the world’s 35 largest staking firm. The largest of them, kiln, manages more than $ 7 billion.
Senseinode operates in various Latin American countries, including Brazil, Argentina, Mexico, Chile, Costa Rica and Colombia. It also has nodes that set up in the US and Germany. The common point in all of these covers is that the senseinode uses local and regional data centers.
“Most nodes in the US and Europe are on the Amazon Web Services. At the end of the day, that’s a point of centralization,” Larguia said.
Latin American data centers are usually not as advanced as west, however, forcing the senseinode to take an educational paper in some cases and help develop the necessary infrastructure to run staking services.
Read more: Staked Ether creates a benchmark for the crypto economy, says Ark Invest
The requirements for running nodes vary from protocol to protocol, Larguia said. For example, some projects may have greater storage requirements if their blockchain history is older.
Node costs are also different. You only need $ 300 per month to run an Ethereum validator, while a Solana validator costs $ 800 per month. However, there are no limitations on how many tokens you can dedicate to a single Solana validator, contrary to Ethereum validators, which are limited to 32 ETH each. Ethereum staking is therefore more expensive to handle for senseinode than solana staking.
“For polkadot and avalanche, we like two or three nodes, but for Ethereum we have 9,000,” Larguia said.
