Are you ready to be part of Fantom's blockchain security evolution? By cutting staking requirements by 90%, Fantom is opening up the opportunity for more validators to secure its network. This move is expected to improve security without sacrificing transaction speed.

More Validators, Increased Security

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Fantom has reduced the minimum staking limit from 500,000 FTM to just 50,000 FTM. This allows more users to participate as validators, which significantly improves the decentralization and security of the network. With more validators, the risk of malicious attacks is reduced as it becomes more difficult for malicious actors to control the network. Validators at Fantom have the important task of categorizing transactions and sharing them with other validators. This process achieves finality through fast and efficient consensus. Despite the increase in the number of validators, the speed of the Fantom network is maintained. This shows that decreasing the staking requirement does not reduce security, as the power of the validators remains proportional to the number of FTMs they are staking.

Comparison with Other Blockchains

Currently, Fantom is supported by 58 validators, while Ethereum has over 1.1 million validators. Other blockchains like Cardano, Solana, and Avalanche also have thousands of validators. With this change, Fantom hopes to attract more validators and improve its security. Just three months ago, the Fantom Foundation's hot wallet was hacked and lost $550,000. However, this amount is less than 1% of the foundation's total funds. In response, Fantom awarded a $1.7 million reward to the security researcher who discovered the potential risks associated with the hack.

Evolving Phantom Ecosystem

Fantom is not only focused on security, but also on developing its ecosystem. By initiating payments to developers to generate gas fees, Fantom is demonstrating its commitment to supporting innovation and growth. This move is expected to attract more developers and increase the usage of Fantom's network. In addition, with the lowering of staking requirements, Fantom has the potential to attract more investors and users. Although the price of FTM did not change significantly after the announcement, this move could have a long-term impact on adoption and trust in the Fantom ecosystem. With Fantom's bold move to cut staking requirements, the future of blockchain security looks more inclusive and decentralized. This is an opportunity for you to be part of a major change in the crypto industry and contribute to a more secure and efficient network.
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