Node operators

Known and trusted participants write transactions

Permissioned node operators are one of the aspects that makes Polymesh unique. Transactions involving securities need to be written to the blockchain by known, trusted entities, but most blockchains allow pseudonymous entities to author blocks. On Polymesh, only permissioned capital market participants that meet specific criteria can write transactions. 

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Examples of capital markets participants

Architecturally, Polymesh is a public, permissioned blockchain–meaning anyone can run a regular node, as well as check the upholding of network rules and the public state secured by the blockchain. However, not everyone can run nodes that author new blocks or vote on block finality. Only specific entities, called operators, can. Operators are permissioned through a governance process. Operators share earnings with those who stake funds with them, and this creates a competitive business model in which operators compete for user support on the basis of reliability and expected return on investment. 

Public permissioned

Proof-of-stake consensus mechanism 

Arriving at a consensus about the ordered list of transactions is a core concern of any blockchain network. There are many processes to choose from, like Proof-of-Work (PoW) or Practical Byzantine Fault Tolerance (pBFT). Polymesh uses a Proof-of-Stake (PoS) mechanism and relies on a small set of nodes that know exactly who each other are, and are thereby accountable and expected to be cooperative. The operators are regulated financial institutions that would not be expected to attack the network intentionally. 

The system doesn't rely exclusively on reputation, ethics, and recourse to courts of law, although these factors are clearly helpful. Malfunctioning, unresponsive, or hostile operators are detected by the remaining, well-functioning, well-intentioned operators. There is little rogue operators can do to cause harm to the network beyond a momentary performance hiccup, and they are financially penalised for service interruptions.

Polymesh provides strong foundations that will play a critical role in helping blockchain companies meet the needs of capital markets and their participants.

Sylvan Martin
Scrypt Asset Management 

We expect Polymesh to become ubiquitous in the security token space, so getting involved by running a node is a no-brainer for us. 

Mike Kessler

Polymesh is unique as a blockchain optimized for regulated markets and assets, and its technology and infrastructure have immense potential to improve the efficiency of traditional investment banking processes.

James Row
Managing Partner

Become an operator on Polymesh

Operators are integral to the functioning and success of Polymesh. As an operator, you’ll manage and run authoring nodes that keep the Polymesh blockchain secure and operational at all times.