The number of Tezos bakers is on the rise. The protocol’s term for a validator (its equivalent of bitcoin’s miners), bakers are crucial to ensuring the nascent network’s security. And that’s all the more necessary given the value of the funds at stake. Since raising $232 million in 2017, the protocol has had a very bumpy path to getting off the ground. Once live, though, it’s become a top 20 blockchain by market capitalization, with a valuation consistently above $1 billion. Furthermore, there’s been little out of the ordinary happening on the new blockchain. Watching the amount of tokens staked to validate and the number of people taking part is probably the best way early on to assess the stability of the new network. “I’ve been particularly impressed with the role the community has played in this process,” Mike Reinhart of Obsidian Systems, which is building software for bakers,
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