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.
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.
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.
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.