Chain of Gnosis has reached 200 thousand validators, now the 2nd largest staking network

With significant advances in decentralization and community-based blockchain infrastructure, Gnosis Chain has surpassed 200,000 verifiers ensuring the security of the network. The Ethereum Virtual Machine (EVM) compatible Layer 1 solution is now the second largest proof-of-stake blockchain by active validator count.

TLDR

Gnosis Chain, a fully EVM-compatible L1 from Gnosis, now has over 200,000 validators Ethereum Gnosis Chain requires only 1 GNO token after providing accessible network authentication Ethereum 32 ETH Gnosis is increasing the decency of Gnosis Chain. Future developments for Gnosis Payments, a self-managed electronic money system, include the Denkun update with EIP-4844 and the Shutterized Gnosis Chain update for improved security and censorship resistance.

The achievement is a major milestone for Gnosis Chain in its mission to advance Ethereum's core principles of trust neutrality and censorship resistance. By enabling access to a broad demographic for in-home validators, Gnosis has created a thriving ecosystem spanning more than 70 countries.

In the year Incorporated into Ethereum software studio ConsenSys in 2017, Gnosis has established itself at the vanguard of blockchain innovation and development. Its founders, including Martin Kopelman, who was named to CoinDesk's Most Influential 2023 list, have been key architects in the Ethereum ecosystem since its early days.

Using common design principles with Ethereum, Gnosis Chain differentiates itself with a uniquely integrated authentication model. With Ethereum's starting limit of 32 ETH with sole staking, it only takes one GNO token worth around $383 to become a Gnosis Chain validator.

This low barrier to entry encourages home-based verifiers to participate using consumer-grade hardware such as DapNode setups or Intel NUC mini-PCs. By avoiding steep capital requirements imposed by other blockchains, Gnosis Chain has naturally become a standard bearer of decentralization.

Network statistics show the rapid rise of Gnosis Chain. Within 24 months of the protocol's launch, more than 200,000 verifiers from more than 2,000 nodes had entered. Active checker counts at other popular chains like Solana and Avalanche record sizes below 2,000.

While Ethereum remains the largest staking network with nearly 1 million validators, it requires an initial stake of 32 ETH to reach that level – more than $100,000. For Gnosis Chain, the startup costs of 1 GNO and basic hardware represent a total of less than $2,000.

By developing a democratic and decentralized authentication suite, Gnosis aims to strengthen network resilience and neutrality. Blockchain is avoiding situations where control of integrity can be concentrated in the hands of a few powerful actors. Gnosis' strategy focuses on the widespread distribution of verification operations.

Beyond the main block chain, Gnosis has evolved into a vast ecosystem of decentralized applications. Its smart contract-powered Gnosis Safe self-storage solution has emerged as the industry gold standard for secure digital asset storage. Decentralized exchange protocol CoW Swap is another key infrastructure pillar.

Heading into 2024, Gnosis is gearing up to promote a new payment train dubbed Gnosis Payments to its thriving verifier community. Using a strong consensus network, the project is building a “self-governing electronic money system” that addresses cryptocurrency's original precepts around financial freedom.

As blockchain technology crosses the threshold into mainstream adoption, Gnosis seems well-placed to serve as a foundational settlement layer. With upcoming milestones such as the EIP-4844 update to improve aggregation capacity and efficiency, the protocol will continue to future-proof its stack.

Another big development on the horizon is the Shutterized Gnosis Chain revamp, which is currently undergoing testnet testing. The update aims to strengthen front-end protections and cement anti-censorship guarantees for all participants. Downstream benefits can include fair trade and the extraction of malicious MEV.

At the main Dapcon 2024 conference in Berlin scheduled for May, Gnosis intends to bring together global stakeholders and celebrate recent achievements.

As Verifier Communications Head Armagan Ercan put it, surpassing 200,000 Verifiers “is a testament to our community's commitment to building this future.”