Validator Churn

    Investigating how frequently Terra validators turn on/off.

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    Introduction

    Validators are essential stakeholders in the Terra ecosystem. They commit new blocks to the chain, and they participate in consensus to keep the blockchain secure.

    Since the Terra blockchain is permissionless, and anybody at all can run a node, there's always the risk of nodes going offline, which might have adverse effects on the network.

    This dashboard briefly investigates the total number of validators that have joined the network within the last 6 months, how frequently they turn off, and how this churn has changed over time.

    Method

    We need to get an idea of the total number of validators who have come online for the past 6 months. This will serve as the base figure, against which we calculate how often validators turn up.

    A total of 175 unique validators turned on for Terra in the last 6 months. Next, let's take a look at how many of these validators do not turn up daily.

    We can notice a gradual decrease in the number of validators that do not show up daily. This number declined from 93 on March 19, 2021, to 42 on September 11, 2021. Now, let visualize this validator churn in percentages to get another confirming perspective.

    Findings & Conclusion

    The number of Terra validators going offline daily has steadily declined over the last 6 months, from a high of 93 to a low of 42.