KEY TAKEAWAYS
- Chiliz proposes four governance changes to enhance its blockchain network, including adding a new validator and reducing unstake periods.
- Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, is proposed as a new validator to strengthen Chiliz’s validator set.
- Proposals aim to increase network decentralization by expanding the number of active validators to 12.
Chiliz, a prominent blockchain platform known for its sports and entertainment tokens, has announced four significant governance proposals aimed at enhancing its network. The proposals, which are open for voting until next Thursday, December 3rd, include adding a new validator, reducing unstake and unjail periods, and increasing the number of active validators.
Adding Mercado Bitcoin as a Validator
One of the key proposals is to add Mercado Bitcoin, Brazil’s largest cryptocurrency exchange, as a new validator. Mercado Bitcoin has been a long-time associate of Chiliz, with multiple Fan Tokens listed on its platform. The inclusion of Mercado Bitcoin is expected to strengthen Chiliz’s validator set, which already includes globally recognized institutions from various sectors.
Reducing Unstake and Unjail Periods
Another proposal suggests reducing the unstake period from seven days to two days. This change aims to provide a more liquid and flexible experience for the staking community by allowing users to reclaim their CHZ tokens more quickly after unstaking.
Additionally, the proposal includes reducing the unjail period from seven days to four days. This adjustment is intended to align with common industry practices and minimize operational disruptions. By shortening the unjail period, validators are encouraged to address underlying issues promptly, allowing them to resume block production sooner.
Increasing the Number of Active Validators
The final proposal involves increasing the number of main active validators from the current limit to 12. As a Proof of Staked Authority (PoSA) chain, Chiliz relies on a limited set of validators to propose new blocks. Expanding the number of active validators is seen as a step towards greater decentralization within the network.
These proposals reflect Chiliz’s ongoing efforts to enhance its blockchain infrastructure and governance. Stakeholders are encouraged to participate in the voting process to shape the future of the network. More details on the proposals can be found here.
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