MassBit is creating the decentralized API infrastructure for web3, powered by MassBit’s Verification Protocol. With MassBit Route’s global node network, caching content, and improving route paths, users will see faster response times.
The MassBit Verification Protocol ensures all participating nodes are staked in order to actively start serving blockchain requests and earn incentives for verifying other parts of the network. This ensures that nodes behave honestly.
The MassBit network uses an ever changing system of nodes/gateways to serve high traffic areas and prevent network failures through redundancy. This way we’re able to achieve fast response times of 1000mb/s.
Each MassBit Gateway has a fisherman component that will be tasked with checking node health and stability. This automated component checks neighboring nodes/gateways for liveness and punishes those who do not meet network standards. Once a node/gateway is approved to join the network, it can then actively stake to serve traffic and earn incentives for every API request it fulfills.
The proof of stake mechanism and globally distributed fisherman system means the network stays decentralized, while still being able to maintain network strength by continually rewarding the parts of the network that behave correctly. Once a new node/gateway is staked and actively serving traffic, MassBit Core updates the network with the new configuration for the whole network with the new node.
The MassBit Verification Protocol allows the network to maintain reliability and efficiency without the need for a centralized authority, continually updating and evolving to reward those who benefit the network decentralized API infrastructure.
For more articles: MassBit 101 — Web3 Single Point Of Failure
About MassBit Project
MassBit provides fully decentralized solutions for Defi and Web3 App project development. Currently, MassBit has 4 products in the stage of development; MassBit Route, MassBit Multi-chain Indexing, MassBit Prime, and MassBit Insights. MassBit enables DeFi and Web3 App development to be faster, more stable, scalable, and cost-effective.
The powerful ‘glue’ holding together and supporting all the products is the MassBit Verification Protocol, which is based on proof of stake. The protocol incentivizes those working within the system to verify each other’s work. The verification of other nodes, gateways, or indexers gives rewards or penalties for the mistakes to each individual or entity. From that, the protocol ensures the whole network’s health.
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*For more information regarding the details of the grant, including the full Grant Proposal, please visit: https://github.com/w3f/Grants-Program/blob/master/applications/MassBit_route.md
*For information regarding the Milestone 1 evaluation, please visit: https://github.com/w3f/Grant-Milestone-Delivery/blob/master/evaluations/MassBit_1_takahser.md