Gnosis Chain Hits 200K Validators, Now 2nd Largest Staking Network

0

[ad_1]

In a significant boost for decentralization and community-driven blockchain infrastructure, Gnosis Chain has surpassed 200,000 validators securing its network. The Ethereum Virtual Machine (EVM) compatible layer 1 solution now ranks as the second largest proof-of-stake blockchain by active validator count.

TLDR

Gnosis Chain, a fully EVM-compatible L1 from Gnosis, now has over 200,000 validators
It is the second largest global blockchain validator community after Ethereum
Gnosis Chain offers accessible network validation, requiring only 1 GNO token vs Ethereum’s 32 ETH
Gnosis is leveraging Gnosis Chain’s decentralization to grow Gnosis Pay, a self-custodied electronic cash system
Upcoming developments include the Dencun update with EIP-4844 and the Shutterized Gnosis Chain update for enhanced security and censorship resistance

The achievement marks a major milestone for Gnosis Chain in its mission to advance Ethereum’s core tenets around credible neutrality and censorship resistance. By enabling accessibility to a wide demographic of at-home validators, Gnosis has cultivated a flourishing ecosystem that spans over 70 countries.

Incubated within Ethereum software studio ConsenSys in 2017, Gnosis has established itself at the vanguard of blockchain innovation and development. Its founders, including Martin Köppelman who was named to CoinDesk’s Most Influential 2023 list, have been key architects in the Ethereum ecosystem from its earliest days.

Leveraging shared design principles with Ethereum, Gnosis Chain has differentiated itself through a uniquely inclusive validator model. In stark contrast to Ethereum’s 32 ETH threshold for solo staking, becoming a Gnosis Chain validator requires only a single GNO token valued around $383.

Gnosis Validators
Gnosis Validators

This low barrier to entry empowers home-based validators to participate using consumer-grade hardware like DappNode setups or Intel NUC mini-PCs. By eliminating the steep capital requirements imposed by other blockchains, Gnosis Chain has organically become a standard-bearer for decentralization.

Network statistics underscore Gnosis Chain’s rapid ascent. The protocol has onboarded over 200,000 validators across more than 2,000 nodes in just 24 months since launching. On other prominent chains like Solana and Avalanche, active validator counts register magnitudes lower at under 2,000.

While Ethereum remains the largest staking network with nearly 1 million validators, accessing that scale requires an initial stake of 32 ETH – equivalent to over $100,000. For Gnosis Chain, the 1 GNO plus basic hardware startup costs represent less than $2,000 in total.

By cultivating a democratized and dispersed validator set, Gnosis aims to bolster network resilience and neutrality. The integrity of blockchains rests on avoiding scenarios where control can concentrate into the hands of a few powerful actors. Gnosis’ strategy focuses on diffusing validation duties broadly.

Beyond the core blockchain itself, Gnosis has evolved into an expansive ecosystem for decentralized applications. Its smart contract-powered Gnosis Safe self-custody solution has emerged as an industry gold standard for secure digital asset storage. Decentralized exchange protocol CoW Swap is another key infrastructure pillar.

Heading into 2024, Gnosis is gearing up to harness its thriving validator community to propel a new payment rail dubbed Gnosis Pay. By leveraging its robust consensus network, the project is building a “self-custodied electronic cash system” that revisits cryptocurrency’s original precepts around financial freedom.

As blockchain technology crosses the threshold towards mainstream adoption, Gnosis appears well-positioned to serve as a foundational settlement layer. With upcoming milestones like the EIP-4844 upgrade to enhance rollup scalability and efficiency, the protocol continues future-proofing its stack.

Another major development on the horizon is the Shutterized Gnosis Chain revamp, which is currently undergoing testnet trials. The update aims to fortify frontrunning safeguards and cement anti-censorship guarantees for all participants. Downstream benefits could span fairer trading and extraction of malicious MEV.

With its flagship Dappcon 2024 conference slated for May in Berlin, Gnosis intends to rally its global stakeholder community and celebrate recent accomplishments.

As Validator Communication Lead Armagan Ercan framed it, surpassing 200,000 validators is “testament to our community’s commitment to building this future.”

[ad_2]

Source link

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 77,617.00
ethereum
Ethereum (ETH) $ 2,297.25
tether
Tether (USDT) $ 0.998886
bnb
BNB (BNB) $ 700.42
xrp
XRP (XRP) $ 1.28
usd-coin
USDC (USDC) $ 0.999479
solana
Solana (SOL) $ 93.64
tron
TRON (TRX) $ 0.322525
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
figure-heloc
Figure Heloc (FIGR_HELOC) $ 1.04
hyperliquid
Hyperliquid (HYPE) $ 87.27
zcash
Zcash (ZEC) $ 1,202.98
dogecoin
Dogecoin (DOGE) $ 0.075435
monero
Monero (XMR) $ 619.90
usds
USDS (USDS) $ 0.999937
whitebit
WhiteBIT Coin (WBT) $ 74.71
wrapped-steth
Wrapped stETH (WSTETH) $ 2,779.67
chainlink
Chainlink (LINK) $ 11.15
leo-token
LEO Token (LEO) $ 9.28
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,243.00
cardano
Cardano (ADA) $ 0.190776
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.998762
stellar
Stellar (XLM) $ 0.164653
wrapped-beacon-eth
Wrapped Beacon ETH (WBETH) $ 2,466.93
bitcoin-cash
Bitcoin Cash (BCH) $ 277.40
near
NEAR Protocol (NEAR) $ 3.85
dai
Dai (DAI) $ 1.00
wrapped-eeth
Wrapped eETH (WEETH) $ 2,465.31
ethena-usde
Ethena USDe (USDE) $ 0.998935
uniswap
Uniswap (UNI) $ 7.34
susds
sUSDS (SUSDS) $ 1.08
rain
Rain (RAIN) $ 0.006232
litecoin
Litecoin (LTC) $ 54.30
canton-network
Canton (CC) $ 0.095854
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 76,366.00
usd1-wlfi
USD1 (USD1) $ 0.998232
avalanche-2
Avalanche (AVAX) $ 8.57
blockchain-usd
Blockchain USD (USDB) $ 0.932324
sui
Sui (SUI) $ 0.897818
weth
WETH (WETH) $ 2,268.37
the-open-network
Gram (prev. Toncoin) (GRAM) $ 1.18
tether-gold
Tether Gold (XAUT) $ 3,926.81
hedera-hashgraph
Hedera (HBAR) $ 0.070001
usdt0
USDT0 (USDT0) $ 0.998824
global-dollar
Global Dollar (USDG) $ 0.999978
quant-network
Quant (QNT) $ 195.37
shiba-inu
Shiba Inu (SHIB) $ 0.000005
paypal-usd
PayPal USD (PYUSD) $ 0.999944
bittensor
Bittensor (TAO) $ 227.38
crypto-com-chain
Cronos (CRO) $ 0.050993
Shares