KEY TAKEAWAYS
- Mercado Bitcoin joins as a validator, enhancing the blockchain network’s presence in Brazil.
- Governance proposals have reduced the ‘unstake’ period, increasing flexibility for CHZ token stakers.
- The validator team expands to 12, promoting decentralization and on-chain expertise.
Mercado Bitcoin, the largest digital asset exchange in Latin America, has been announced as the latest validator for a prominent blockchain network. This development was confirmed here, marking a significant addition to the network’s validator set.
As Brazil’s first crypto unicorn, Mercado Bitcoin is a key player in the rapidly expanding blockchain sector in Latin America, boasting over four million customers. The inclusion of Mercado Bitcoin is expected to enhance the network’s presence in the Brazilian market, where it already collaborates with over 50 projects alongside major teams and Web3 leaders.
Governance Proposals Bring Operational Changes
In addition to the new validator, all four governance proposals raised last week have been approved, leading to several operational changes. One of the key updates is the reduction of the ‘unstake’ period for the staking community. Previously, users had to wait approximately seven days to reclaim their staked assets. This period has now been shortened to approximately two days, providing increased flexibility for those staking CHZ tokens.
Furthermore, the ‘unjail’ period for validators has been reduced from seven days to four days. This change aligns with industry standards and aims to minimize operational disruptions by allowing ‘jailed’ validators to rejoin the network more swiftly.
Expansion of Validator Team
The addition of Mercado Bitcoin has expanded the number of main active validators to 12, surpassing the initial target of 11. This increase is seen as a positive step towards enhancing on-chain expertise and promoting further decentralization within the network. As a Proof of Stake Authority (PoSA) chain with a limited set of validators, this expansion paves the way for more decentralization, strengthening the network’s overall structure.
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