Decentralizing Power: Governance & the Active Set (Part 1)
Introduction
- In This Analysis, You will about the Validators voting power and Nakamoto coefficient changes on the Osmosis chain. We want to know after Props 114, 196 & 337 were all passed in an effort to promote decentralization within the ecosystem. How did the voting power of the top 66% of the active set validators change after these proposals were passed? Also, How did the Nakamoto coefficient change after these events?
Analyzed by Hess - Reading time Almost 5 Min.
IMPORTANT NOTE:
- Nakamoto Coefficient Is a new Topic for Me. I learned from CryptoGuy and Adriaparcerisas. Those PARTs of analysis credited to those awesome guys.
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Proposal 337: Increase the Osmosis Active Validator Set to 150 Validators (from 135)
- With 21K voting power and nearly 20K votes, passed in 6 days. Above 98% voted YES.
Proposal 196: Increase Validator Set Size to 135
- Proposal 196 with 39K voters and Vote power passed. About 97% voted YES.
#114 Increase Max Validator Set Size to 118
- This proposal was a little complicated in Comparision to other proposals. But in the end, with nearly 2.2K vote powers and voters passed. Around 70% voted Yes.
What is Nakamoto Coefficient?
The Nakamoto Coefficient ascertains the number of nodes that must be compromised to affect the blockchain and obstruct it from functioning correctly. A higher Nakamoto measure indicates a more decentralized network. This means that the network has a large number of nodes.
NAKAMOTO COEFFICIENT PART IS CREDITED TO ADRIA AND JACKTHEGUY.