2018-06-22 Validator Economics Meeting notes

2018-06-22 Validator Economics Meeting notes

Date

Jun 22, 2018

Attendees

  • @Medha Parlikar (Unlicensed)

  • @Lucius Meredith

  • @Nash Foster

  • @Michael Birch (Unlicensed)

  • @Michael Stay (Unlicensed)

  • @Kyle Butt

Goals

Discussion items

Time

Item

Who

Notes

Time

Item

Who

Notes

 

Rewards & Utility

Greg

  • Nash - It is more important to pay for the validation of blocks.  It isn't about a race to solve a puzzle.

  • Greg - would like to pay by the measure of utility.  But this requires a verifiable identity.

  • Mike - we want to issue known bad blocks, per Kent and Kyle.  Honest validators have to do the same amount of work as validators that are obtaining transactions.  

  • Greg likes the idea of issuing challenges.  Mike and Kyle are writing it up.  Kyle is proposing that we include an invalid COMM event.  Produce a proof that others cannot use.  In order to know that the proof is correct, you have to know the answer.  This will give us a mechanism to eject persons not doing the valuable work.  We can determine if it is a slashing condition.

 

Stake weighting

Greg

  • Nash prefers no stake weighting.  Rather that spending capital on stake, would rather incent persons to put infrastructure on the network.

  • Concern around the army of ants attack - lots of validators.  Counter measure is fees to join a namespace.

  • Big stake - no work.

  • Greg wants to encourage lots of distinct validators, however there is no way to distinguish between the army of ants and a long tail.

  • We want infrastructure providers to invest in high end hardware to service the blockchain.  We also want these 

 

Next Steps

Greg

  • Wants to run the stake weighting by Vlad and Nate.  

  • Meeting attendees will attend the Casper standup on Monday and discuss with Vlad and Nate.

 

 

 

 

Action items

@Medha Parlikar (Unlicensed) - Add the fee structure for new validators joining to Wiki Page
@Medha Parlikar (Unlicensed) - Create agenda for next week.