The Fantom Foundation Reduces Validator Staking Requirement
The Fantom Foundation has announced a significant reduction in the validator self-staking requirement on its layer-1 blockchain. The changes have been made to improve security and make running a validator more accessible. Previously, the staking threshold was 500,000 FTM, but it has now been lowered to 50,000 FTM. This reduction in staking criteria will not impact the network’s performance as long as new validators run on quality hardware. Additionally, increasing the number of validators will result in faster transaction processing times. Despite the increase in validators, the existing large validators will still hold the majority of power in finalizing transactions.
How Does This Affect Fantom’s Network?
The Fantom Foundation explains that validators bundle up transactions and exchange them with other validators to achieve consensus. Increasing the number of validators ensures that there are more available to process transactions quickly. However, even with more validators, the majority of power will still be held by the existing large validators. This approach maintains network performance while gradually decentralizing and positioning the network for the future.
Fantom’s Validator Staking and Security
Fantom clarifies that a validator’s ability to validate transactions is determined by its staking amount rather than the number of validators it runs. Lowering the staking requirements does not pose a security risk since a validator with one million FTM staked would have equivalent power to twenty smaller validators with fifty thousand FTM staked each.
Hot Take: Increasing Accessibility and Security on Fantom’s Blockchain
The recent reduction in validator self-staking requirements by the Fantom Foundation demonstrates its commitment to improving security and accessibility on its layer-1 blockchain. By making it easier for users to become validators, Fantom aims to increase the network’s resilience against malicious attacks. The lower staking threshold also ensures that transactions are processed faster, benefiting users and enhancing the overall performance of the network. These changes are part of Fantom’s broader plan to decentralize its network and position itself for future growth.
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