Parastate AMA

Held on 28th June, 2022 at Telegram channel.

It was my pleasure to host ParaState Ambassador Dmytro for an hour-long AMA session. It was divided into two parts. The first part was Dmytro answering the questions from my side, followed by the second part where he answered some of the questions that the team had chosen from the ParaState Telegram group.

This AMA mainly covers everything related to ParaState & SafeStake (You’ll learn more about SafeStake in this AMA). Will be worth the read as the answers are well detailed and explained in a very comprehensive manner.

QCould you provide us brief information about ParaState?

ParaState is a multi-chain smart contract platform that provides full compatibility between Ethereum, Polkadot and other Substrate-based chains, among other chains wanting to provide Ethereum compatibility through its next-gen runtime infra Ethereum-flavored WebAssembly (EWASM). While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState. Among other projects which aim to provide Ethereum compatibility, only ParaState is building the EWASM virtual machine pallet from scratch by ourselves.

In sum, ParaState is providing an upgradeable smart contract platform to developers who want to explore brand new possibilities and achieve higher performance, in the meanwhile we are backward compatible with all existing EVM applications to enable a seamless upgradable feature. For more information, you can visit our website documentation

QCan you tell us more about SafeStake?

As you probably know, Ethereum transition to Ethereum 2.0 or in other words transition from Proof of Work (PoW) towards consensus-based on Proof of Stake (PoS) will bring a core change to the engine of the Ethereum blockchain and its consensus mechanism. Transition to Ethereum 2.0 will have a significant impact on blockchain technology.

SafeStake is a trust minimized middle-layer fostering the decentralization of ETH2.0 staking. SafeStake is a non-custodial infrastructure for distributed validator technology written in Rust, implementing HotStuff consensus and Threshold signing architecture to provide more robust security for ETH 2.0 staking. SafeStake will lower the ETH 2.0 staking threshold to only 8 ETH (instead of 32 ETH). It will drive a more extensive validator base, improve diversity and decentralization, and strengthen the security of ETH 2.0 staking. Using SafeStake solution, more people can take part in Ethereum staking and not only receive rewards, but also use solutions with improved decentralization and strengthened security!

Please feel free to check the webpage and documentation for more details

QAre ParaState and SafeStake different projects? What do they have in common?

Good question. As discussed, ParaState is a multi-chain smart contract platform that provides full compatibility between Ethereum, Polkadot and other Substrate-based chains. From other side, SafeStake is our latest secure, scalable and decentralized use case for ETH 2.0 staking. Both solutions are developed by ParaState Team, but have slightly different use cases. SafeStake is a unique initiative, showing that new benefits continue to be added to ParaState and ParaState’s infrastructure continues to expand across the industry. Moreover, STATE tokens will be used in SafeStake solution, so we expect the implementation of SafeStake will drive huge demand for STATE tokens.

QCould you tell us more about ParaState and Safestake Team?

Sure, let me introduce our team. ParaState’s Co-Founder is Marco Chen, in the blockchain industry since 2016. In 2018 he built a decentralized product Ticktack. Marco is a member of the Rust Foundation and a cohort of UC Berkeley Xcelerator 2021.

Michael Yuan is Co-Founder of ParaState, ex-JBoss and maintainer of WasmEdge. JBoss was the first company that commercialized JAVA on the enterprise server, which later was acquired by Redhat. Moreover, ParaState is built by an experienced international team of developers, engineers and entrepreneurs.

QCould you please tell us more about the advantages of SafeStake compared to competitors? Why people should select the SafeStake solution?

Sure. let me briefly highlight the advantages, that make SafeStake project unique:

1. Decentralization. As already pointed out, SafeStake will lower the ETH 2.0 staking threshold to 8 ETH. Such a solution will bring more people to staking, will drive a more extensive validator base, improve diversity and decentralization and strengthen the security of ETH 2.0 staking.

2. Security. SafeStake solution will allow validators to split the validation keys into multiple shares, which will be distributed to multiple operator nodes after it. The proposed solution will reduce security risk since none of the validators can recover the validation key.

3. Efficiency. Our code is written in Rust and hence is compatible with ParaState codebase. Moreover, Rust is very good to prevent memory-related bugs and always beats Go in runtime benchmarks. It's more efficient for processing large volumes of data and other CPU-intensive operations.

QI read that ParaState is looking into DAO as one of the possible scenarios to manage processes. Could you share more details? Will it cover ParaState or SafeStake?

We can say that we could archive full decentralization only when the project will be governed by a decentralized autonomous organization (DAO). So here comes the idea of ParaState DAO. ParaState DAO will build the network and will be responsible for the maintenance and governance of the staking network. ParaState DAO will cover both ParaState and SafeStake communities.

ParaState as a DAO plans to use STATE token as fuel for its internal economy, applying a model of the token economy configured as a DAO to allow everybody to earn more tokens for positively contributing to the development and expansion of the ecosystem.

Actual ParaState DAO members will consist of a group of validators, operators and STATE holders. It is planned to held community meetings to discuss staking parameters, for example, ranking of operators, fees, evaluation of current services, possible grants etc.

You can read more about ParaState DAO in our SafeStake documentation:

QCould you please share with us more details on your roadmap updates? What to expect from ParaState and SafeStake in the next months?

We have many exciting plans and news for next months. First of all, SafeStake mainnet launches by end of 2022, like everybody, we are waiting for ETH 2.0. Before SafeStake mainnet we are planning to have Galileo Incentivized Testnet for SafeStake. Also, keep an eye for our NFT campaign. More updates are to be shared soon!

QI read about upcoming incentivized testnet at SafeStake. Could you please share with us more details about it? Who could take part in testnet?

As discussed, before launching the SafeStake mainnet, we are targeting to launch the Galileo Incentivized Testnet. It is planned for July-August. We expect to implement SafeStake within the ParaState ecosystem to drive an extensive demand for $STATE tokens after the ETH2.0 PoS merge. If you would like to take part in our incentivized testnet and win rewards, don't hesitate to fill in our google form. Moreover, verified operators will have a chance to win free-mint ParaState governance NFT and have early access to the testnet rewards.

Feel free to fill in the google form to become incentivized testnet participant and to win rewards! Just check the detailed article on our medium, there you will find all details

QCould you please share more details about most recent community initiatives and campaigns?

I already mentioned Incentivized testnet and NFT campaign as our community initiatives. Don't hesitate to check the links and do take part. There are rewards for participants :)

Also, I would like to highlight our STATE tokens staking campaign and ParaState & SafeStake Gleam campaign!

Our staking contract for STATE tokens is live now. There are 25M STATE tokens as rewards for all stakers. Feel free to check our article for more information and to stake STATE.

Our Gleam campaign is also live. Check the form and complete all the tasks to boost your chances of winning Parastate Governance NFTs! For more information, you can visit

It’s now time for the “Community Questions” that were picked from ParaState’s telegram group by the ParaState team. I will also share the original telegram link to the questions here as well.


-- | | Crypto Gem hunter | FA | Not an advisor |

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