Arbitrum DAO set to implement Bold protocol for ecosystem enhancement
The voting period will end on January 24
The Arbitrum DAO is currently holding a vote on a pivotal proposal that could significantly enhance the ecosystem of Arbitrum One and Arbitrum Nova.
The proposal, known as the Arbitrum Improvement Proposal (AIP), aims to transition both chains to the Bounded Liquidity Delay (BoLD) protocol, Cointelegraph informs.
If approved, BoLD will be implemented by February 2025, marking a major shift towards decentralization and improved network efficiency.
Key takeaways
- What is BoLD? The Bounded Liquidity Delay (BoLD) protocol is designed to replace the current system, which uses allow-listed validators, with a more inclusive, permissionless system. Under this new system, anyone will be able to participate in securing the Arbitrum network, offering increased decentralization and more opportunities for validators.
- Timeline for Implementation: If the proposal passes the ongoing vote, both Arbitrum One and Arbitrum Nova will integrate the BoLD protocol by February 2025. This change aims to enhance liquidity, security, and decentralization across both chains, aligning with Arbitrum’s long-term vision for a more robust and scalable platform.
The implications of the vote
The vote represents a crucial decision for the future of the Arbitrum network, with potential long-term impacts on its security model and user experience. A shift to a permissionless validator system would encourage greater community involvement and participation, fostering a more diverse and resilient network.
Loading...
It also reflects the growing trend within the blockchain space towards increased decentralization, as projects move away from closed, permissioned systems to more open and inclusive structures.
BoLD aims to strengthen the security of Arbitrum chain withdrawals to the Ethereum mainnet.
At the time of writing, the vote had unanimous community support. The voting period will end on January 24.
Voting on the BoLD protocol at Arbitrum DAO. Source: Arbitrum DAO
If passed, the BoLD implementation could position Arbitrum as a leader in blockchain scalability and decentralization. It will also likely set a precedent for other Layer 2 solutions looking to improve their validator systems and enhance ecosystem growth.
Prospects for implementation of the BoLD protocol
The outcome of this vote will have wide-reaching implications for the Arbitrum network, potentially setting the stage for a more decentralized and efficient blockchain.
Developers and investors alike will be closely watching the results of this AIP, as it could influence future upgrades and adoption in the Layer 2 space.
We also reported that Arbitrum liquidity protocol hack details emerged.
