Gnosis Chain is on a mission to become the most credibly neutral blockchain by motivating participation from a network of widely distributed validators.
LOS ANGLES, April 21, 2023 /PRNewswire-PRWeb/ -- Gnosis Builders, the ecosystem team behind Gnosis Chain, a full EVM (Ethereum Virtual Machine) Layer 1 blockchain with 100K+ validators, prioritizing decentralization and security, allocates $5M to their Validator Incentive Program (Gnosis VIP), the latest step in their move to become the most decentralized and geographically diverse network. Gnosis Chain validators are already based in 60 countries, and the program aims to increase that to 180 before the end of the year.
Gnosis Chain is on a mission to become the most credibly neutral blockchain due to its rapidly growing network of widely distributed validators. Gnosis VIP serves Gnosis Chain's mission as a source for validators to learn and earn through decentralization goals for Proof-of-Stake validation on Gnosis Chain.
Gnosis Chain is a decentralized blockchain that is committed to providing a secure and resilient platform for building DApps. Decentralization remains a priority for Gnosis because it removes the need for central authorities while making chains more secure, transparent, and efficient as they scale.
By consistently monitoring and measuring levels of decentralization and working to increase them, Gnosis Chain is helping to create a more open and democratic Web3 future. In order to evaluate the level of decentralization, Gnosis leveraged a forked Lighthouse client that the HOPR team originally modified to highlight privacy issues of Ethereum validators. HOPR builds transport-level privacy infrastructure that strongly resonates with our vision for a more resilient and equitable digital ecosystem.
With Gnosis' focus on decentralization, users can trust that the network is run by a community of geographically diverse and independent nodes, rather than a single entity. Gnosis has introduced the concept of Correlated Validator Set, defined as a set of validators that could be compromised together in a single action. Gnosis ensures that the network remains fair, secure, and transparent, and that all participants have a say in its governance.
"Decentralization requires a community effort, and we welcome feedback, collaboration, and participation from our community," said Martin Köppelmann, Co-Founder of Gnosis. "The goal of Gnosis VIP is to further decentralize the network through our industry-leading incentive program."
The first incentive-focused program from Gnosis VIP is the Geographic Diversity Program. This bounty program aims to expand the presence of Gnosis Chain validators across the world by increasing the global distribution and geographic diversity of Gnosis Chain validator nodes. Gnosis VIP is offering bounties of 338 Million GNO to geographically uncorrelated validators that meet the specific bounty criteria. Only 1GNO is required to start, with validators earning 15.5% APR in staking rewards. This program is currently not available in the United States.
"Since December 2022, the number of validators has grown from 20 to over 115K," said Martin Köppelmann. "The validator count is growing by 10% month over month and the number of countries has doubled. Countries with Gnosis Chain nodes grew from 31 to 60 from February to March. At this current pace we are looking to double the number of countries again by the end of the next quarter."
For additional information or to start a validator on Gnosis Chain, please visit the Gnosis Validator website. Additional details about the Gnosis VIP program are available here.
For media inquiries, please contact Jonathan Duran at (310) 260-7901 or Jonathan(at)MelrosePR(dot)com.
About Gnosis Builders
Gnosis Builders is the ecosystem team for Gnosis Chain, a full EVM (Ethereum Virtual Machine) layer-1 blockchain with 100K+ validators, prioritizing decentralization and security. Gnosis Builders constructs critical infrastructure, tools, and resources to enhance the Gnosis Chain experience. Through their hands-on, open source and permissionless development, Gnosis Builders seeks to empower an expansive world of blockchain experiences, from essential world-class applications to unique dev-crafted offerings like DeFi, DAO Tools, and Gaming.
Media Contact
Jonathan Duran, Melrose PR, (310) 260-7901, [email protected]
SOURCE Gnosis Builders
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