Layer 1 protocol Near on Monday initiated a key phase of its “sharding” upgrade meant to increase the blockchain’s processing speed, and slashed the price for stakers hoping to participate in how the network runs.
Near, which launched in 2019 with then-unrealized plans to boost transaction speeds by splitting its network into parallel processors (so-called sharding), kicked off Phase 1 or its “Nightshade” playbook facilitated by Near contributor Pagoda. This phase sees the introduction of specialist “chunk-only validators” that feed into the sharding mechanism but are easier to set up than full nodes.
Paired with an 86% decrease in the collateral requirements for all participants of the proof-of-stake chain, the changes seek to radically lower the barrier to entry for Near validators and thus increase decentralization.
“The more users the network gets, the more decentralized the network gets as well. This enables the ability to kind of continue adding more validators as there's more...
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