Gnosis Builders, the developer of blockchain network Gnosis Chain, has announced a $5 million project to increase the number and diversity of validators through incentives. According to the company's April 18 announcement, the new program is called “Gnosis VIP.”
As part of the new project, Gnosis is launching a "Geodiversity Initiative" aimed at increasing the number of countries where Gnosis Chain validators are located. The network currently has more than 100,000 validators in 60 countries, and the plan aims to increase the number of countries to 180 by the end of the year, the announcement said.
According to the program's official webpage, for each of the 90 countries listed, the first 10 validators to begin operations there will receive 388 yuan Gnosis over six months (as of April 12 calculated value of $1,368.18). Meta Gnosis (mGNO) is a wrapped and staked version of the web's native token, Gnosis (GNO). Each mGNO can be exchanged for 1/32 GNO.
The first payment of 38 mGNO ($134) will be made after the first 30 days of node operation. Payments will increase each month, and the final payment at the end of six months will be 98 mGNO ($345.57). In an emailed statement to Cointelegraph, Gnosis CEO Martin Köppelmann expressed hope that the new initiative will help improve the security and performance of the Gnosis Chain:
“A diverse set of validators is critical to a resilient and secure network [...] By giving way to validators in different regions of the world, transactions can be processed faster and more efficiently.” In the crypto community, debates often rage over which networks are the most decentralized, with many experts claiming that networks cannot be scalable, secure, and decentralized at the same time. This clash of design philosophies is often referred to as the blockchain trilemma.
In his emailed statement, Köppelmann emphasized that geographic diversity is only one aspect of decentralization, and that other aspects are also important to ensure resilience and security.
