GameFi

Sky Mavis’s Ronin Sidechain Adds 3 New Validators For Increased Security

Sky Mavis ‘s Ronin Sidechain has added three new validators to the project, and increased its validator set to 17. The new Ronin validators include Efficient Frontier, Community Gaming and Nansen.

Three new validators have been added to Ronin, an Ethereum-linked sidechain that runs the play-to-earn game Axie Infinity, in an effort to strengthen security in the wake of the $600 million heist in March.

The Axie Infinity developer Sky Mavis’s Ronin development team said in a new blog post that the chain’s security has increased from 14 to 17 validators. The number of persons confirming transactions on the sidechain has increased as a result of the addition of new validators.

The three entities that have been added as Ronin validators include Efficient Frontier, Community Gaming and Nansen, the Ronin team said. Furthermore, it added that it is moving closer to the target of establishing 21 independent validators. 

“We are thrilled to introduce three new Ronin network validators, bringing our total to 17, making progress towards achieving our initial goal of 21 independent validators collectively securing the network.”

In March of this year, Ronin had one of the biggest cryptocurrency attacks ever. Five out of Ronin’s nine validator nodes came under the control of hackers who were eventually identified as the North Korean outfit Lazarus. As a result, they were able to take 173,600 ETH and 25.5 million USDC from the bridge, totaling more than $600 million.

The team declared in April that it will increase the number of validators as a post-hack security precaution. Validators authenticate transactions using majority consensus or agreement of validators on a proof-of-stake blockchain like Ronin. Therefore, having additional validators typically results in increased security.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

CoinCu News

Victor

Recent Posts

Starknet Aims to Become the Cheapest Layer-2

Starknet sees massive speed and fee reduction improvements, aiming to outshine other Layer 2 solutions…

1 hour ago

Market Overview (Nov 11 – Nov 17): Altcoins Surge as Bitcoin Milestones Mark a Historic Week

Altcoin market surges, led by U.S.-related coins and meme tokens. TOTAL 3 index reaches new…

3 hours ago

After US Presidential Election, Bitcoin Still Stands Firmly Above $90,000

Bitcoin fell nearly 3% over the weekend, marking its sharpest two-day drop since the US…

4 hours ago

What Is Dan Bilzerian Net Worth In 2024: Inside The King of Instagram’s Wealth

Explore Dan Bilzerian net worth, poker career, lavish lifestyle, and the controversies surrounding the "King…

5 hours ago

‘$333 Minimum’ Analyst Forecast Parabolic Run for the XRP Price, Competitor to Closely Chase its Gains

The XRP price could hit $333. This analyst forecasts a massive parabolic run for XRP,…

7 hours ago

5 Best Crypto Coins for November 2024: Experts Picks for Early Investors

Among these advancements, Qubetics, a rising star in the blockchain ecosystem and one of the…

10 hours ago

This website uses cookies.