A major validator of the layer-1 blockchain Secet Network is pulling node support for the protocol after financial transparency concerns surrounding Secret Labs' leadership.
A major validator for the privacy smart contract layer-1 blockchain Secret Network has announced that it will no longer provide nodes and support for the network.
On Jan. 29, major validator Smart Stake announced that it would be shutting down its Secret Network validator nodes on Feb. 21. Smart Stake cited “complex/stressful validator operations, cost/effort of validator ops, and recent events,” as reasons for withdrawing its services. Smart Stake is a staking and validator service provider that supports several networks including Crypto.com, Polygon, Cosmos, and until recently Secret Network.Smart Stake will be shutting down its Secret validator on 21st Feb. Please redelegate to another validator.2) Cost/effort of validator ops 3) recent eventsThe move comes amid revelations by Secret Labs founder, Guy Zyskind, regarding the Secret Foundation’s financial transparency.
“This action was not disclosed in any financial reports provided to the community by the Foundation, which was introduced by Tor as a non-profit organization on several occasions.”
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