{"id":545365,"date":"2023-01-30T09:24:49","date_gmt":"2023-01-30T06:24:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/secret-network-validator-shuts-down-nodes-after-leadership-turmoil\/"},"modified":"2023-01-30T09:24:49","modified_gmt":"2023-01-30T06:24:49","slug":"secret-network-validator-shuts-down-nodes-after-leadership-turmoil","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/secret-network-validator-shuts-down-nodes-after-leadership-turmoil\/","title":{"rendered":"# Secret Network validator shuts down nodes after leadership turmoil"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2e80c516bd3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2e80c516bd3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/secret-network-validator-shuts-down-nodes-after-leadership-turmoil\/#%E2%80%9D_Secret_Network_validator_shuts_down_nodes_after_leadership_turmoil_%E2%80%9C\" >&#8221; Secret Network validator shuts down nodes after leadership turmoil &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Secret_Network_validator_shuts_down_nodes_after_leadership_turmoil_%E2%80%9C\"><\/span>&#8221; Secret Network validator shuts down nodes after leadership turmoil &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvMzE3MWQ2ZjktZDVlOS00MmI5LWJlODctODZmZDJkY2ZkZTU2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>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.<\/p>\n<p>On Jan. 29, major validator Smart Stake announced that it would be shutting down its Secret Network validator nodes on Feb. 21.<\/p>\n<p>Smart Stake cited \u201ccomplex\/stressful validator operations, cost\/effort of validator ops, and recent events,\u201d as reasons for withdrawing its services.<\/p>\n<p>Smart Stake is a staking and validator service provider that supports several networks including Crypto.com, Polygon, Cosmos, and until recently Secret Network.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">PSA for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SecretNetwork?ref_src=twsrc%5Etfw\">@SecretNetwork<\/a> delegates of Smart Stake:<\/p>\n<p>Smart Stake will be shutting down its Secret validator on 21st Feb. Please redelegate to another validator.<\/p>\n<p>Reasons: 1) Complex\/stressful validator operations on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SCRT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SCRT<\/a> 2) Cost\/effort of validator ops 3) recent events<\/p>\n<p>\u2014 Smart Stake (@SmartStake) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SmartStake\/status\/1619514284765224960?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The move comes amid revelations by Secret Labs founder, Guy Zyskind, regarding the Secret Foundation\u2019s financial transparency. <\/p>\n<p>On Jan. 28, Zyskind made<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.scrt.network\/t\/an-update-and-disclosure-concerning-secret-foundations-financial-transparency\/6762?u=thenodefather\"> public allegations<\/a> that the Foundation and its founder and CEO, Tor Bair, \u201csold a substantial amount of USD worth of SCRT,\u201d \u2014\u00a0 the native token for the Secret Network \u2014 in late 2021. <\/p>\n<p>\u201cTor cashed out a significant portion of these proceeds,\u201d he alleged.<\/p>\n<p>Zyskind also mentioned a $4 million inflow for the Foundation in its Q4, 2021 report but no mention of the withdrawal.<\/p>\n<blockquote><p>\u201cThis 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.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Looking forward to resuming writing math proofs and bad code after all the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SecretNetwork?ref_src=twsrc%5Etfw\">@SecretNetwork<\/a> drama<\/p>\n<p>\u2014 Guy Zyskind (@GuyZys) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GuyZys\/status\/1619793832807403520?ref_src=twsrc%5Etfw\">January 29, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bair however provided his version of events on the Secret governance forum on the same day. He<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.scrt.network\/t\/secret-foundation-update-and-disclosure\/6763\"> stated<\/a> that the withdrawals were part of his share of vested tokens.<\/p>\n<blockquote><p>\u201cInstead of paying out my vested tokens in December 2021, I converted my vested portion of tokens to USD at the OTC price and Secret Foundation distributed these funds as a dividend.\u201d<\/p><\/blockquote>\n<p>He added that \u201cthis information is verifiable in our 2021 tax filings, which have been previously reviewed by Labs, and I have previously disclosed this information to them.\u201d<\/p>\n<p>The ongoing internal leadership conflict has rattled at least one network validator provider and the ecosystem\u2019s community.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Secret Network resolves network vulnerability following white hat disclosure<\/em><\/strong><\/p>\n<p>SCRT prices have remained immune from the internal imbroglio, consolidating around the $0.80 level for the past week. However, the token is down 92% from its October 2021 all-time high of $10.38, and way down from Bair\u2019s $7 sale price. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/secret-network-validator-shuts-down-nodes-after-leadership-turmoil\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Secret Network validator shuts down nodes after leadership turmoil &#8220; 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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":545366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/3171d6f9-d5e9-42b9-be87-86fd2dcfde56.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,76737,117,70610],"class_list":["post-545365","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-transparency","tag-business","tag-finance"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545365","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=545365"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/545365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/545366"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=545365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=545365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=545365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}