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March 14, 2019

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Medha Parlikar edited this page Mar 14, 2019 · 2 revisions

Attendees

  • Medha Parlikar
  • Shikha Mehra
  • Chinindu Ojimadu
  • Kiril Momchilov
  • Jay Lee

Notes

Review open action items from last meeting

  • Poll results: Posted to Telegram channel
  • Meeting time: Thursday morning 9 am PDT: Weekly
  • Livestreaming is set up. This meeting is live streaming - Note: there is a problem with my speaker, it didn't record anyone else speaking. Tried to capture their words in notes.

Open Action Items

  • Naming of the chain
  • Bounty system

New Topics

  • Welcoming of new members to the community, getting involved in Governance
  • What are the fixed points in Governance?
  • What has been set up with respect to Governance by the founding team?
  • Explanation and understanding of where we are at with respect to governance
  • What has been scripted with respect to Governance so far?

Upgrades of Software

Mapping Upgrades to current software paradigm.

  • Manual Updates of the node software
  • Automatic Upgrades of the node software

Protocol Upgrades

  • The development team is investigating the possibility of upgrading the protocol through wasm and consensus. In essence, when the protocol upgrade makes it into the fork choice rule, it takes effect. This is an over-simplification of what will happen, but captures the essence of the mechanism.
  • The development team will need to invest a significant amount of time specifying the process and then completing the engineering work.

Governance of Updates

  • In principle, the release of updates to 'production' would need to go through a multi-tier sign off process. First the release would need to be approved by the Core Dev team. Then it would need to harden in testnet, (similar to a public beta), for an unspecified duration. During this time, the upgrade would be tested, put under load, etc.. Then via a governance process, the upgrade would be 'signed off on' for public release to 'production'
  • Operators would need to accept the upgrade and install it. This is another form of acceptance.

Information Asymmetry

  • Need to align incentives to make sure that all involved are aligned with respect to their incentives on the pieces that really matter to the project.

  • Versus those things that should matter, and matter to whom.

  • Users want high throughput, lower costs, privacy, censorship resistance

  • Miners want high transaction fees, more money

  • Token holders want higher token valuations

  • DApp developers want lower costs

  • The goals of the governed should be the list of incentives.

  • Need to address Information Asymmetry

What are the Values of the Chain?

For Bitcoin, it's clear that the most important property of Bitcoin is its' monetary policy. The 21 Million cap on Bitcoin is its most important property. What is the most important property for the CasperLabs blockchain?

  • Figure out the use cases for the chain - derive the values that matter from that.

  • Compliance & Audit

  • Governance of content

  • Supporting of the publishing of papers for academia. Medha could use some help understanding the process.

  • The fundamental innovation is the consensus protocol of updating the decentralized database. The process of being appended to the blockchain, everyone decides. Otherwise shared database structure is no big deal. It already exists. Who gets to add to the database and who verifies what they are adding is correct is key. The outcome is something that we can all trust. Whatever is on the blockchain has not been tampered with.

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