Phantom reduces staking requirements for validators by 90% | CoinDesk JAPAN

The developer of the Fantom blockchain announced on January 15 that it will reduce validator requirements for running self-staking nodes on the network by 90%, a move that will improve network security. Said it was helpful.

The staking requirement has been lowered from 500,000 FTM (approximately 29 million yen at the time of writing) to 50,000 FTM (approximately 2.9 million yen at the time of writing).

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 pic.twitter.com/H8AfnT5Itv

— Fantom Foundation (@FantomFDN) January 15, 2024

A validator is an entity that processes network transactions and locks a certain amount of tokens to maintain network security. On Phantom, instead of all validators confirming the same transaction as in Ethereum, validators independently confirm transactions, bundle them, and share them with other validators.

The relatively low operating costs of validator nodes will increase network decentralization and improve network security. “By having more validators, the network makes it increasingly difficult for malicious actors to launch attacks,” the developer wrote in a post on X in the early hours of the 16th (local time).

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Fantom Slashes Validator Staking Requirements by 90%, FTM Prices Unchanged