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 114, 196 and 337

    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.

    Validators Voting Power

    Nakamoto Coefficient

    • As you can see, After Proposal 114, The Nakamoto Coefficient increased to 7.

    • After Proposal 196, The Nakamoto Coefficient remained at 7.

    • Before Proposal 337, The Nakamoto Coefficient was 9 but after that decreased to 7.

    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.

    THANK YOU FOR READING!

    NAKAMOTO COEFFICIENT PART IS CREDITED TO ADRIA AND JACKTHEGUY.

    Twitter: @hessaminanloo

    :flying_disc: Discord: hess#0890

    :calendar: Analyze Date: 2022/NOV/03