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HomeETHEthereum sidechain Ronin adds three new validators to upgrade security of the...

Ethereum sidechain Ronin adds three new validators to upgrade security of the network

Due to a $600 million hack in March, Ethereum sidechain Ronin that hosts Axie Infinity, announced the addition of three new validators in a newsletter on August 17, to boost the security of the network.

Sky Mavis, Axie Infinity creator, provides funds to the Ronin development team. Mavis said in the blogpost that validators have now increased from 14 to 17, hence would increase the security of the chain. 

Notingly, the addition of the new validators would lead to more transaction verification on the sidechain by the nodes.

The Ronin team provided the name of its three new validators : Community Gaming, Nansen and Efficient Frontier. The Ronin team also disclosed that they are working to establish 21 independent validators.

Ronin is still trying to recover from one of the biggest hacks that happened in March 2022. Hackers later identified as the North Koren group Lazarus who took control over five out of nine validator nodes allowing them to steal over $600 million from the bridge, including 173,600 Ethereum and 25.5 million USDC.

Later, the Ronin team raised an investment of $150 million from a group of investors and VC firms, like Binance and a16z respectively. The investment raised by the team to reimburse affected users.

After the hack, the team of Ronin announced in April that it would increase the number of validators to further advance the security of the sidechain network. As more validators would lead to an increase in the number of verifying transaction parties, hence increasing the improvement in security.

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