Prop 342: Reduce Active Validator Set

Summary

The Nolus network currently supports a maximum of 30 active validators, with 20 actively participating in network consensus at the time of writing this proposal. To enhance network efficiency and optimize block times, we propose reducing the maximum size of the active validator set from 30 to 25. This adjustment is intended to facilitate faster consensus among high-performing validators, resulting in a more efficient network and a better user experience, particularly for cross-chain transactions.

In terms of decentralization, this change will have minimal impact as we simply reduce the max threshold. None of the existing active validators will be excluded from the active set as a result of this change.

Looking forward, we plan to regularly assess the validator set and consider potential expansions if additional reliable and active validators emerge within the network. Same goes for reducing the max set further if more validators drop from the consensus. By fine-tuning the validator set size, we aim to strike a balance between efficiency and decentralization, ultimately benefiting Nolus network participants with improved transaction speeds and smoother operations.

By voting "YES" on this proposal, you support reducing the active validator set from 30 to 25, fostering a more streamlined and effective Nolus network.