Changes to Fantom’s Staked Token Requirement
In June 2023, the Fantom Foundation conducted a vote to decide whether to maintain the minimum staked token requirement at 500k FTM tokens or reduce it by 90% in order to expand the ecosystem. This proposal was initially made in February 2022 but was only recently implemented after the vote.
Enhanced Accessibility, Potential Performance Impact
After completing the necessary preparations, the changes have now been activated. As a result of a governance vote, the validator self-stake requirement has been lowered from 500k to 50k FTM, making it easier than ever to run a Fantom validator.
1/ Based on a governance vote, we recently reduced the validator self-stake requirement from 500k to 50k FTM, making it more accessible than ever to run a #Fantom validator.
But we’ve been asked:
“How does an increase in validators impact Fantom?”Well, let’s find out cyberattacks last year, although they only affected the developers, not the network itself. It started via phishing and did not compromise the security of the blockchain in any way.
Potential Security Benefits and Performance Considerations
The reduction in staked token requirement is expected to lead to an increase in the number of validators on the Fantom network. This can potentially enhance the security of the blockchain by distributing the validation responsibilities among a larger pool of participants. However, some concerns have been raised about the impact on performance. The influx of new validators may result in increased competition for block validation, potentially leading to slower transaction speeds or higher fees.
Conclusion: Evaluating the Impact
The recent changes to Fantom’s staked token requirement have made it more accessible for individuals to become validators. While this is expected to improve the network’s security, there are considerations regarding potential performance implications. It remains to be seen how the increased number of validators will affect transaction speeds and fees on the Fantom network. Monitoring these developments will be crucial in assessing the overall impact of this change.
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