HIP-6: increase external voting power to 51%

Governance Validator DAO
1

Summary : This proposal is to introduce a hardfork in Harmony blockchain to set the external voting power to 51%.

Background : Currently, the external validators have 40% of voting power since epoch 530. The network is being run smoothly since that. And the view change algorithm worked as expected during a shard 2 down event. The shard recovered automatically w/o restart. So, it is time to empower more voting power to external validators.

Motivation : With this proposal, it will increase the external voting power from 40% to 51%, as the majority of the network voting power.

Specification : Increase the external voting power from 40% to 51% for all external validators. The external validators will be the majority of the voting power in the network. A hard-fork is needed and it will be enabled in a certain epoch in the later release.

Suggested voting options : yes or no

17 Likes
2

The next step in decentralization! I fully support this upgrade.

With that being said, this upgrade will mean there will be a lot more accountability and involvement from the external validators, especially in case of a network restart, if it ever happens.

5 Likes
3

Of course Yes ! External validator will have majority and power. Everyone knows that with more power comes more responsibility !

3 Likes
4

Yess! That would be amazing.

5

Yes, this sounds like a great upgrade!

6

This opens the door for a 51% attack, right? Has anyone done analysis on old wallets to see if there are any realistic combinations that could do it?

7

it’s not. Consensus still need 68% (2/3 +1) of voting power (internal + external). This change is for external to have now majority 51%, internal will have 49%.

2 Likes
8

I’m really glad to hear that @leo proves the network stability and security both allowing releasing more voting power for the external validators.

I’m not doubting that everyone validator understands the responsibilities on their end for the network with the upcoming change (from 40 to 51).

my vote for YES!

1 Like
9

Great to hear the network can handle issues gracefully and I am 100% behind this with a YES vote from me!!

3 Likes
10

I like this network, I like this team, I trust it and as a simple-small hodler that stakes his bag, I approve positive changes and the way things are handled.
Yes.

11

Yes for sure Leo. Looking forward to the governance vote! Interesting shard 2 went down and I don’t think anyone noticed. :muscle:

12

Yes, behind this idea completely.

13

Very Nice. Let’s GO. Plus ONE

14

Yes! Now, will await for the HIP deployment to vote.

15

Way to go. Yes from me 2.

16

Sounds like a great idea, I’m onboard!

17

100% Harmony :muscle:. This will keep moving the ball forward!

18

Step by step to achieve the original aims. So proud of it!

19

Wow yes! New member to the community and just started staking, what a team. So glad to be on board

1 Like
20

Validator.ONE agrees with this proposal.