• Fantom (FTM), a distributed technology platform that utilizes a Proof of Stake algorithm, recently proposed significant modifications to its validator staking requirements.
• The new proposal significantly reduces the minimum validator staking requirement to as low as 50,000 FTM.
• According to data provided by Staking Rewards, the current staking ratio of Fantom stands at over 50%, indicating that a significant proportion of FTM holders are actively participating in the network as validators.
Fantom Reduces Validator Staking Requirements
Fantom [FTM], an innovative distributed technology platform that utilizes a Proof of Stake consensus algorithm, recently proposed significant modifications to its validator staking requirements. Under the new proposal, the minimum validator staking requirement will be reduced from 3.175 million FTM down to 50,000 FTM. This change is set to create a more inclusive and accessible environment for interested validators to join and open up opportunities for greater decentralization on the platform.
Stakers‘ Support on Fantom Network
The current staking ratio of Fantom stands at over 50%, meaning that a notable portion of FTM holders are actively participating in the network as validators. The total value of tokens being staked on the network is currently over $614 million while the market cap of Fantom stands at over $1 billion. Furthermore, there has been an increase in stakers over the last 30 days with 91,000 new participants joining in this period.
Benefits Of Lowering Validator Stake Requirements
The reduction in minimum stake requirements allows users with fewer resources access to become part of the network’s security process and receive rewards for their efforts while also increasing decentralization overall which could lead to more reliable transactions processing times and better stability within the blockchain ecosystem. Additionally, lower stake requirements will likely result in increased competition among users who wish to become part of this lucrative process as well as providing them with more options when it comes to choosing their preferred way of participating in it.
Ethereum vs Fantom
For comparison purposes, Ethereum requires 32 ETH ($54,000) in order for someone to become a validator while with Fantom’s adjustments anyone can do so with just 50k FTM ($200). This makes it much easier for smaller investors or entities without large amounts capital available on hand get involved and benefit from becoming part of this process without having too much risk involved due their limited resources available for investing into it.
Conclusion
In conclusion these changes made by Fantom are set create positive results both for small-scale users looking participate on this decentralized platform but also potentially beneficial effects overall such as increased competition among participants and higher levels decentralization within its blockchain networks leading eventually better security stability within its ecosystem going forward into future developments plans have been set forth by company thus far .