Polkadot passes Referendum 1966: only 500 validators from Tuesday

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Analysis: Polkadot approved Referendum 1966 on Sunday morning with 99.92 percent, and from Tuesday only 500 validators will count. Our own analysis shows that just 3.1 percent of backing separates rank 500 from rank 600.Polkadot is shrinking its circle of active validators from 600 to 500.Add as a preferred source on GoogleFollow on Google NewsPolkadot has approved the first cut to its validator set. On Sunday morning at 6:49 a.m. German time (CET), Referendum 1966 was confirmed with 99.92 percent of the weighted votes. On Tuesday morning, at around 11:20 a.m., the change will be enacted on the blockchain. From the next election after that, the network will award only 500 seats in the active validator set instead of 600. Anyone who nominates their own DOT and has picked validators at the bottom of the ranking may then end up without rewards. What is documented: the result, timings and vote counts come from the referendum itself, the stake figures from our own query of the stakin...