Axie Infinity’s Ronin Bridge Increases Validator Count to 17

Sky Mavis: “The current network requires 70% of the current validators to approve a proposal.”

More Validators = More Security

Sky Mavis, the development company behind the popular Play to Earn game Axie Infinity and the Ronin bridge, said it had increased the number of validators on Ronin to 17.

The three entities that will take on this role are Efficient FrontierCommunity Gaming and Nansen. In addition, the project revealed that it is getting closer to its goal in the next three months of deploying 21 independent nodes and, in the far future, 100 nodes.

“Today’s validators were selected to ensure that Ronin has active, responsive, and secure validators backing the network as part of Sky Mavis’ commitment to bolstering our security,” said the Sky Marvis development team. “As part of Sky Mavis’ shift towards decentralization, Sky Mavis proposes new validators and puts them up for a vote.”

Sky Mavis’ latest move to expand validators to strengthen the security of the project follows the Ronin bridge attack at the end of March. This was the most damaging cryptocurrency attack in history, with a loss of 173,600 ETH and 25.5 million USDC, worth more than $622 million at the time.

The leading cause of the problem mainly stemmed from the project’s lax verification and security. On March 23, four Sky Mavis Ronin nodes and Axie DAO Ronin nodes were compromised, resulting in the entire amount being stolen via just two transactions. At that time, on Ronin, there were 9 active nodes; to proceed with depositing or withdrawing only needed the approval of 5/9 nodes, which is what the hacker did to attack.

The incident was only discovered on March 29 when users reported that they could not withdraw money from the Ronin bridge. Axie Infinity immediately raised the deposit and withdrawal conditions to 8/9 nodes and contacted the security teams of many major exchanges to trace the cash flow.

Immediately after, the project started raising $150 million to repair damages and compensate hack victims, and undertook audits by CertiK and Verichains before reopening the Ronin bridge with plans to improve the network’s operation.

What Is Axie Infinity:

Axie Infinity is a PlayAndEarn blockchain game where players breed, collect, and play with digital pets called Axies and earn from the interactions. It’s built on Ronin, an Ethereum-based side-chain developed by Vietnamese-based gaming studio Sky Mavis. The protocol put eyes on the PlayAndEarn gaming industry back in 2021. In addition, the team is building a digital nation where each community member comes together to play, earn, and live in Lunacia.

Where to find Axie Infinity:

Website | Twitter | Substack | Medium | Whitepaper |

Source : bsc.news

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