Allnodes Unveils A Transparent Report To Clear Community Confusion, Detailing Voting Record For Tendermint Chain

https://cryptolifedigital.com/wp-content/uploads/2023/02/Allnodes-Releases-A-Report-For-Tendermint-Blockchain.jpg

Allnodes releases a transparency report detailing its voting power statistics for Tendermint blockchains to clear the doubt and confusion in the Terra Classic community.

The validator shared a tweet recently revealing that it will update the data daily. It also assured those concerned about its high cumulative voting power on the Terra Classic network that it is taking steps to bring it down.

Read Also: KuCoin Exchange stakes A Staggering 47.9 Billion LUNC Token

Allnodes Releases A Report For Tendermint Blockchain

According to the report, it was revealed that the node hosting service’s cumulative voting power never attained chain-breaking levels, as Notional Labs founder Jacob Gadikian asserted. 

Some days ago, the Gadikian noted that Allnodes, besides holding the seed phrases of validators using its service, also attained 40% cumulative voting power on the Terra Classic chain. Theoretically, a validator having more than 33% voting power could break the chain. 

Read Also: Ripple’s Proponent, John Deaton To Join Zakinov V Ripple Case To Fight Claims That Tags XRP As A Security.

However, per the report, the highest cumulative voting power attained by Allnodes was 32% on Jan. 24. Currently, this metric is between 30 and 31%. 

While this is still very high numerically, it puts some of the Terra Classic’s fear to a minimal level. As stated in the report, the validators using the service still face the risk of compromise. Consequently, community influencers like LUNC DAO are calling on the node hosting provider to release a list of Terra Classic validators using its service.

List Of Victims As Noted By Gadikian

However, Allnodes launched a non-custodial node management service last month to give Tendermint validators complete control of their information. However, again, this does not address the plight of existing users.

Notably, Terra Classic Core developer, and director at the Grants Foundation, Ed Kim noted that his focus is on significantly reducing Allnodes’ voting power as it will equally reduce the risk to the chain. 


Follow us on Twitter, FacebookTelegram, and Google News

  • 786 Posts
  • 0 Comments
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
Loading...