Just my two cents I posted on the water cooler telegram chat.
Background: We are developing “The Documents Blockchain” on a Cosmos Zone aimed to a niche B2B market: Companies exchanging business documents.
We did not partecepate on the Presale and on the GOS because we were to busy building our project. Totally my fault… I do not have nails to bite left…
We are currently building our network of validators as a consortium. We went that route so we can enforce the minimum B2B accepted standards like ISO 27001 for datacenters, background checks and AML for validators, mimimum staking periods Investment to make sure they will stick around for few years and so on. Without a consortium, no company would trust to share their documents with us.
We became a Cosmos validator basically to get technical experience in running a node, but we got more than we bargained for. We learned and we are learning lots of important lessons.
Here’s two points from my personal perspective:
- Social Proof Confort
When you see two clothes stores side by side, and one is packed with full of people and the other one is empty, which one would you go in? Why?
Most people will go to the packed store. But what if the empty store was way cheaper, had better items ? It doesnt matter. People naturally want what other people have, and they feel a certain level of comfort from following the choices of others rather than having to think about the situation for themselves.
- Social Proof Power
When you walk into a store and see lots of people lining up at the cash register to buy something, your brain automatically tells you two things:
a) This place must be safe to buy from. There are lots of people who have assessed this store and concluded that it’s a good store to buy from.
b) The deals in this store must be pretty good because lots of people are buying, and they wouldn’t be buying if the deals weren’t great.
That is the abosolute power of Social Proof. It is unbeatable.
- Social Proof Gap
Therefore the validators that partecipad on the presale and got hold of Tokens in other way than buying them on exchange has an unreachable GAP
At this point decentralization GAP will be almost impossible. People will never inherently trust their tokens to sub 10/25 validators. Always delegate the top.
Only top 10 validators can be profitable at this Atom price level. correct?
The only solution I can think of is some sort of a Hard Cap to level the fields.