Unichain Launches Validation Network To Advance Decentralization And Enable Faster Finality
In Brief
Unichain plans to launch the Unichain Validation Network, which will further decentralize the platform by allowing anyone to run a node and verify blocks.
Ethereum Layer 2 network Unichain announced its plans to introduce the Unichain Validation Network (UVN), which will further decentralize the platform by enabling anyone to run a node and verify blocks. This addition is aimed at improving the network’s finality and reducing the chances of conflicting blocks.
The UVN will consist of full nodes that will validate the blocks posted by the sequencer to the mainnet. Validators running these nodes, along with their stakers, will be compensated for their efforts, with 65% of Unichain’s net chain revenue being allocated to them in return for securing the network.
The first version of the UVN will be tested on the Unichain Experimental testnet in the coming months to assess its stability and performance. After the testing phase, the UVN will be officially launched, and validators and stakers will start earning 65% of the network’s net chain revenue. During this development phase, while the validator network is still being built and tested, the Unichain Foundation (UF) will direct the chain revenue to the Unichain Growth Reserve. These funds will be used to support Unichain’s growth efforts, including accelerating developer engagement and subsidizing on-chain activities.
What Is Unichain?
Unichain is a Layer 2 scaling solution built for Ethereum, developed by Uniswap Labs, with the goal of improving decentralized finance (DeFi) applications by enabling faster and more affordable transactions.
Leveraging Optimism’s OP Stack, Unichain aims to reduce transaction costs by around 95% in comparison to Ethereum’s Layer 1 network. In addition, it supports cross-chain liquidity, making it suitable for various applications in sectors like gaming, finance, and entertainment.
Since the launch of the Unichain testnet, the network has processed 94 million test transactions and deployed over 13.3 million test contracts.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
