For a cryptocurrency to have value it must be censorship-resistant. And if a blockchain only has a few validators I think it would be easily shutdown by the authorities once it became a real threat to the financial system.
Anything above 1 will make it functional I guess. But security rises with greater number of validators. Firstly it's harder to create conspiracy, secondly there is always backup in case some nodes would turn off.
Bsc only has 21 and I have seen most people say it is centralized chain cuz of this validators are just "CZ, CZ and his Guys" they say.
It depends but having more never hurts. Of course, the top validators get rewarded the most though.
The fewer validators a blockchain has, the higher the performance. But at what point is it susceptible to a government shutdown is what I'm wondering.
At one point the Ronin side chain only had 5 validators!
It just depends. We don't need many if we want to be centralized but if we want to be decentralized, we need more.
For a cryptocurrency to have value it must be censorship-resistant. And if a blockchain only has a few validators I think it would be easily shutdown by the authorities once it became a real threat to the financial system.
The more the merrier in my opinion. You never know... just in case. 😜
Anything above 1 will make it functional I guess. But security rises with greater number of validators. Firstly it's harder to create conspiracy, secondly there is always backup in case some nodes would turn off.
Yeah but CZ controls them all. He was able to tell them to roll back the chain.
So if it ever becomes too much of a threat, in theory the government should be able to compel CZ to shut it down.