Terra Classic, the blockchain network amidst a comeback attempt, is proposing a significant governance rule aimed at bolstering its security and decentralization. This proposal, currently awaiting community approval, seeks to limit the power of validators and prevent potential manipulation.
Combating Sybil Attacks with One Node Per Validator
The core of the proposed rule focuses on validator activity. Currently, validators can operate multiple nodes on the network. However, the new rule restricts each validator to a single node. Additionally, entities are prohibited from validating across different project divisions within the Terra Classic ecosystem. Non-custodial service providers are also implicated, as they will be required to enforce these restrictions on their customers running validators.
This multi-pronged approach aims to mitigate the risk of Sybil attacks. In a Sybil attack, a malicious actor gains control of multiple nodes, potentially disrupting network operations or manipulating transactions. By limiting the number of nodes per validator, Terra Classic aims to create a more level playing field and prevent any single entity from gaining undue influence.
Benefits for Users and Network Stability
The potential benefits of this proposal are two-fold. Firstly, it strengthens the overall security of the Terra Classic network. A more decentralized validator landscape makes the network less susceptible to attacks. Secondly, increased compliance with the new rule will improve the functionality of the dynamic commission module. This module adjusts transaction fees based on network conditions, ultimately leading to more predictable and fair costs for users.
Dedicated Development Team: A Centralized Twist?
In a separate but related development, Terra Luna Classic (LUNC) is proposing the establishment of a dedicated development team. Funded by the community pool, this team would oversee and implement new projects and updates for the network.
This proposal, also awaiting community approval, presents an interesting dynamic. While the Terra Classic network operates on a decentralized governance model, a centralized development team could streamline operations and improve efficiency. The team’s specific roles, responsibilities, and compensation structure will be determined by the community vote. Notably, this development team would function independently of Terraform Labs, the entity managing the newer Terra (LUNA) chain.
The Road Ahead: A Community Decision
The Terra Classic community vote on these proposals will significantly shape the network’s future. The validator restrictions, if passed, will usher in a new era of security and decentralization. The development team proposition, however, introduces a layer of centralized oversight within the broader decentralized framework.
Ultimately, the community’s decision will determine the delicate balance between security, efficiency, and the core principles of decentralized governance that Terra Classic seeks to uphold.
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