GalaChain announced plans for decentralizing its network, which could have a significant impact on token value and the ecosystem.
GalaChain and Its Decentralization
In collaboration with LF Decentralized Trust, a technical document was prepared for the decentralization of the GalaChain network. The goal is to enhance security, scalability, and flexibility for further growth. The roadmap outlines a four-phase development strategy.
Technical Aspects of the Transition
The network will transition from the Raft consensus mechanism to the Byzantine Fault Tolerance (BFT) algorithm, which is extensively used by decentralized networks. Geographical distribution of servers is crucial for increased security and decentralization of GalaChain. The decentralized architecture will leverage over 40,000 existing Gala Founder Nodes, enhancing network diversification and flexibility.
Impact on Gala and the Industry
Gala and other networks are becoming decentralized to avoid legal challenges and strengthen sustainability. Decentralized structures are essential for self-sustaining growth and fair distribution of gains. If GalaChain successfully implements a fully decentralized structure, it could positively impact the GALA Coin price.
The success of GalaChain's decentralization will be determined over time, but the steps taken could significantly benefit the ecosystem.