Fantom Cuts Validator Staking by 90%: FTM Price Remains Steady

• Fantom Decreases Validator Requirements on its Network
• Alterations to Staking Requirements
• Transaction Confirmation on Fantom
• Implications for Network Security
• Market Reactions

Fantom Decreases Validator Requirements on its Network

Fantom$0.481 0.52% (FTM) has significantly reduced the validator requirements for operating a self-staking node on its network. This reduction in requirements, of up to 90%, was announced on Monday and is anticipated to enhance network security.

Alterations to Staking Requirements

The staking requirement on the Fantom network was reduced from 500,000 FTM to 50,000 FTM. This amount, at current market prices, is just under $20,000. Validators, which are critical for network operations, lock up a specific amount of tokens to process network transactions and ensure network security.

Transaction Confirmation on Fantom

On the Fantom network, validators are responsible for confirming transactions individually before bundling them for sharing with other validators. This process is different from networks like Ethereum$2,315 -2.42%, where all validators confirm the same transaction.

Implications for Network Security

Lowering the cost of running a validator node can lead to a higher distribution of the network. This increased distribution provides a boost to network security. More validators on the network make it increasingly difficult for malicious actors to launch attacks, thereby providing a greater level of security.

Market Reactions

Despite these changes, FTM prices did not see any substantial shift during the early European trading hours, according to data from CoinGecko.

Edited by Jonathan Stoker