Janam from Loom Network


#1

Hi, I am Janam and I’m part of Loom Network (http://loomx.io).

Our goal is to become a universal Layer 2 by connecting all major blockchains — which will give developers access to the largest possible user base for their dapps. We’re currently integrated with Ethereum and Tron, with more on the way.

Our mainnet is optimized for high-performance dapps that require a seamless UX. It uses Tendermint for pBFT, and we have a custom DPoS system. We currently have 20 validators online (with opportunities for more to join), and ~30% of the circulating token supply has been staked.

You can find details on our validator requirements here and staking economics here.

Glad to join in the conversation, and looking forward to contributing!


#2

Welcome @Janam, thanks for joining!


#3

Hi, @Janam! In your opinion, what would be the number of validators required for minimal viable decentralization of Loom network?


#4

Hey Mira,

thanks for the question.

We have 20 validators right now and we consider it the minimum.

That said, we’re taking steps and continuously exploring new ways to further decentralize the network — e.g. adding more validators, broadening token distribution, implementing a voting power cap, randomizing validator list sorting on our staking dashboard, designing a minimum fee floor to prevent outsized validators from undercutting others, etc.

I’ll be sure to keep everyone here updated on any new development.

Thanks,
Janam


#5

This is a fantastic list @Janam :point_down:

How about reducing or maybe even eliminating the minimum staking requirement buy-in? In my view, these buy-ins are a barrier to entry for many smaller validators.

For example, I’d be validating on Loom today, if I could afford it. Yet I’m not able to afford such big buy-ins, given that I’m bootstrapping my operations and my resources go toward my infrastructure. My sense is other smaller, yet capable validators are in the same boat.


#6

Chris, how would having no minimum stake work in your eyes in terms of disincentivizing bad behavior and using slashing? Wouldn’t this leave the door open for malicious actors to attack the network without fear of a financial cost/penalty?