Governance Proposal for the Introduction of Permissionless Validators ￼
- To strengthen the security of the Klaytn network, the Klaytn team will introduce permissionless participation of validators.
- If passed, anyone can participate in the Klaytn Network as a validator
The Klaytn team is seeking to strengthen the security of the Klaytn network and at the same time, increase network effects, by introducing the permissionless participation of validators. The Klaytn Team has submitted a proposal to the Governance Council for vote (11.4). If passed, anyone will be able to participate in the Klaytn Network as a validator.
Currently to become a Core Cell Operator(CCO), operating both CNs and PNs, you need to be a member of the Governance Council (GC). GC members also engage in governance of the network.
If permissionless validators are introduced to the Klaytn network, anyone will be able to participate as a validator in the consensus process will be able to secure rewards accordingly, dependent on their contribution to the consensus process, resulting in the increase of network participation and resulting network effects, and also moves Klaytn one step closer to decentralization.
Additionally The value of assets staked in the network will rise, which increases the cost for chain attacks strengthening network security.
If the proposal is successfully passed, the Klaytn team will submit a follow-up KIP proposal detailing tech specifications and plans to modify the consensus algorithm to allow the introduction of permissionless validators.
Results of the vote will be shared sometime in December.
The Klaytn Team is optimistic that the members of the Klaytn Governance Council will find consensus in benefits of a permissionless structure; a higher level of network security and also the facilitation of network participation via protocol level incentives.
The Klaytn Team will continue working with the Governance Council to move the Klaytn network forward to a more inclusive and scalable vision.
[3Q Klaytn Ecosystem Update]
The 3Q Klaytn ecosystem updates will cover key initiatives the Klaytn team is currently undertaking in our continued efforts to achieve an optimal and sustainable Klaytn ecosystem.