Non starter for me- the present system does not have any issues with security or decentralisation. The 108 validators receive extra rewards and credits as they were the ones that invested when XDC was just an idea, the stby nodes came later to expand the network and create backups. The proposal speaks of rotating nodes based on seniority of registration yet completely ignores the same principle of seniority of the validators. The selection of the validators is already transparent on the network, from the original 108 nodes.
Thank you for sharing your thoughts. I completely agree that the initial 108 validator node operators played a crucial role in laying the foundation of the network, and their contributions should be appropriately recognized.
However, I believe that at this stage of the XDC Network’s development, it is necessary to transition to a system that prioritizes decentralization and fairness.
The Bitcoin Pizza Example
Let me illustrate this with the famous Bitcoin Pizza story. On May 22, 2010, Bitcoin was first used in a real-world transaction when Laszlo Hanyecz paid 10,000 BTC for two pizzas through a forum. At the time, 1 BTC was worth approximately $0.004, making the total transaction worth $40.
While Laszlo took a risk to prove Bitcoin’s utility, if he had held onto those 10,000 BTC, their value would now be around $300 million (assuming BTC at $30,000 per coin in January 2025).
This example demonstrates the immense value early adopters can receive over time. However, despite Laszlo’s risk and contributions, the growth of Bitcoin was not limited to his actions alone. The network thrived because it embraced new participants and scaled accordingly.
The Current Situation with XDC
Similarly, the initial 108 validator node operators took a significant risk when XDC was merely an idea. Their efforts have been rewarded through incentives and the rise in XDC’s value.
Yet, today, XDC has matured into an ecosystem beyond its initial concept. At this stage, perpetuating exclusive privileges for early investors could potentially hinder decentralization and demotivate new participants who are vital for sustained growth.
Prioritizing Fairness and Decentralization
While respecting the importance of early contributors, the proposed rotation system aims to provide opportunities for new participants while preserving the network’s security and decentralization. This approach promotes a balanced and inclusive system that strengthens the network.
Just like the Bitcoin example, it’s essential to consider not only the past contributions but also the present and future sustainability of the network. I believe this proposal is a key step toward advancing the XDC Network to the next level.
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Non starter for me- the present system does not have any issues with security or decentralisation. The 108 validators receive extra rewards and credits as they were the ones that invested when XDC was just an idea, the stby nodes came later to expand the network and create backups. The proposal speaks of rotating nodes based on seniority of registration yet completely ignores the same principle of seniority of the validators. The selection of the validators is already transparent on the network, from the original 108 nodes.
Thank you for sharing your thoughts. I completely agree that the initial 108 validator node operators played a crucial role in laying the foundation of the network, and their contributions should be appropriately recognized.
However, I believe that at this stage of the XDC Network’s development, it is necessary to transition to a system that prioritizes decentralization and fairness.
The Bitcoin Pizza Example
Let me illustrate this with the famous Bitcoin Pizza story. On May 22, 2010, Bitcoin was first used in a real-world transaction when Laszlo Hanyecz paid 10,000 BTC for two pizzas through a forum. At the time, 1 BTC was worth approximately $0.004, making the total transaction worth $40.
While Laszlo took a risk to prove Bitcoin’s utility, if he had held onto those 10,000 BTC, their value would now be around $300 million (assuming BTC at $30,000 per coin in January 2025).
This example demonstrates the immense value early adopters can receive over time. However, despite Laszlo’s risk and contributions, the growth of Bitcoin was not limited to his actions alone. The network thrived because it embraced new participants and scaled accordingly.
The Current Situation with XDC
Similarly, the initial 108 validator node operators took a significant risk when XDC was merely an idea. Their efforts have been rewarded through incentives and the rise in XDC’s value.
Yet, today, XDC has matured into an ecosystem beyond its initial concept. At this stage, perpetuating exclusive privileges for early investors could potentially hinder decentralization and demotivate new participants who are vital for sustained growth.
Prioritizing Fairness and Decentralization
While respecting the importance of early contributors, the proposed rotation system aims to provide opportunities for new participants while preserving the network’s security and decentralization. This approach promotes a balanced and inclusive system that strengthens the network.
Just like the Bitcoin example, it’s essential to consider not only the past contributions but also the present and future sustainability of the network. I believe this proposal is a key step toward advancing the XDC Network to the next level.