Editor's Note: This article comes fromCrypto Valley Live (ID: cryptovalley)Crypto Valley Live (ID: cryptovalley)
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, Author: John Dantoni, translation: Liam, reproduced by Odaily with authorization.
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With the opening of validator applications, numerous staking service providers now have a place on the Polkadot network."More"。
Coinbase Custody’s choice to partner with Bison Trails could signal a new trend where exchanges will partner with infrastructure providers rather than run their own validator nodes in-house.
While it’s still early days, an ongoing ballot proposal suggests that Polkadot’s denomination will change and the supply will
More"slashed "The network is currently in the second step of its launch process, Nominated Proof-of-Stake (NPoS), where the system now consists of a decentralized set of validators. Since the function of becoming a validator has now been opened, many staking service providers now have a place on the network. Just like other PoS networks like Tezos and Cosmos, users can stake their tokens on validators to earn rewards.
Or lose tokens as a penalty, all users who pledge tokens through this validator will also lose tokens. We may see cryptocurrency exchanges or other platforms with huge overheads internalize any potential losses rather than borne by all users.
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While no exchanges are currently confirmed as validators on Polkadot, it is likely that numerous exchanges are operating in secret. Another explanation could be a potential shift in operating strategy. Coinbase Custody hosts Tezos validator nodes, but to support Polkadot, it has partnered with infrastructure provider Bison Trails. Whether this is simply to allow Coinbase customers to easily participate at launch, or if the company will continue to outsource staking on other networks to third parties such as Bison Trails, remains to be seen. A notable validator on Polkadot is Cryptium Labs, which is also a validator for Cosmos and would be the fifth largest validator on Tezos if the Tezos Foundation were not included. Other notable validators include HashKey’s staking subsidiary hashQuark, Staked, and SparkPool, one of the largest mining pools on Ethereum.
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As currently designed, Polkadot now has a total supply of 8.37 million DOT tokens. However, most of the supply has yet to be claimed by token sale participants — 1,693 so far. Of the claimed tokens, 4.66 million tokens have been staked, accounting for 55.7% of its current total supply. The current voting count represents approximately 15% of the supply.
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Vote on Polkadot denominations"image description"Source: Polkadot.js.org, Polkascan, Polkastats The Block Research
In addition to moving towards a full launch, the Polkadot community is also weighing a proposal that could result in a change in the denomination of DOT tokens. The proposal will be a final,
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All DOT holders can vote within the next 11 days. The current poll results may indicate which direction users prefer. It's early days though, and voters are free to change their votes before voting closes. The four options included in the poll are:
No change to the original 2017 sales; would mean a total of 10 million DOTs were created.
Dividing the original sale into 1000 shares; would mean a total of 10 billion DOTs from genesis. DOT price will be reduced by 1000 times.
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Changing its denomination seems likely based on the current voting situation, as around 94% voted for some kind of denomination change that would make its supply larger. The most popular proposal at present is to divide 1 DOT into 100 shares, which received about 42% of the votes. The second most popular scheme is to divide 1 DOT into 10 shares, accounting for about 32%.
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