The KuCoin Community Chain (KCC), a public chain initiative established and created by the KCS and KuCoin developer communities, has announced that the KCC Validator Election will begin on June 16, 2022.
KCC Validator Election will pick at most 29 nodes to become active validators based on the amount of KCS staked, according to the KCC statement. The active validator is responsible for producing blocks by staking KCS and sharing block rewards, as well as owning a piece of the KCC governance. By processing transactions and signing blocks, they give the KCC network more power.
By offering the community rights and incentives, the KCC Validator Election will improve the ecosystem’s stability and decentralization. At the same time, June 16, 2022, marks the first anniversary of KCC’s founding, giving the KCC Validator Election added significance.
The KCS Whitepaper, co-released by KCC and the KCS Management Foundation on March 29, 2022, stressed that empowering KCC is an essential step in the current development of the KCS ecosystem. KCC Validator Election introduces a new KCS application scenario. It’s a profound integration of the KCC and KCS ecosystems, indicating that KCC is about to enter a time of fast growth.
“KCC Validator Election is a milestone in KCC’s development. It not only realizes the redistribution of gas fees on the KCC network as well as the multi-autonomy of the current community but also marks that the KCC and KCS ecosystems have entered a more advanced stage. In the stage of interconnection, the compounding effect of KCS may have appeared. At the same time, the Web3.0 business matrix in the KCS ecosystem is gradually forming, and the KCC will serve as the underlying infrastructure to provide technical support and other support for other projects,” says Leandre, a core member of the KCC GoDAO Foundation.