As you may have noticed, LINK, the native token of the decentralized oracle network Chainlink, has been one of the top-performing tokens in September, gaining over 20% in the past two weeks. However, a recent change to the protocol's multi-sig requirements has triggered alarm bells in the crypto community, with some expressing concerns about centralization risks.

On September 24, 2023, Chainlink reduced its number of multi-sig signatories from nine to eight. This means that only four signatories out of eight are now required to authorize transactions, down from four out of nine previously.

The change was explained by Chainlink community ambassador ChainLinkGod.eth as part of a periodic rotation of signers. However, the timing of the rotation seems questionable, given that it comes amid a strong price pump for LINK.

One Twitter user, "Tytan," has been particularly vocal in his criticism of the move, arguing that it reduces transparency and accountability within the Chainlink ecosystem. Tytan also expressed concern that the change was not publicly announced, and that the identity of the ninth signatory has not been revealed.

Despite the concerns raised by some community members, the market appears to be unfazed by the multi-sig change. LINK has continued to rise in price since the change was implemented, and is now trading at a 41-day high.

So, will Chainlink dump shortly?

It is impossible to say for certain, but the recent multi-sig change does introduce an additional layer of doubt to the project.

Ultimately, whether or not Chainlink dumps shortly will depend on a number of factors, including the overall state of the crypto market, the success of the Chainlink oracle network, and the public's trust in Chainlink, which could seriously be damaged by the recent multi-sig change...

Disclaimer: This post is for information purposes only and should not be considered trading or investment advice.