2018-06-28 Validator Economics Meeting

Date

Jun 28, 2018

Attendees

@Medha Parlikar (Unlicensed)
@Lucius Meredith
@Nash Foster
@Michael Birch (Unlicensed)
@Michael Stay (Unlicensed)
@Kyle Butt (invited)
@Kenny Rowe (invited)

Goals

Gain clarity on the items listed on: RChain Validator Economics

Discussion items

Time	Item	Who	Notes

Time	Item	Who	Notes
	Fees		Fees, required due to contractual agreement with members for rebates. Rate needs to be low enough, that forking the network is not worth it. Wallet built in where these fees somewhere in the code base.
	Validator Rewards		Waiting on Greg for this. Papers tell you the canonical form for the attractor. Relationship from the DAG(the justification graph) to attractor is pretty straightforward. Each validator would earn rewards based upon how close they are to an ideal DAG (justification tree) Rewards calculated at the time the block is created. Stored in PoS contract. Blocks built on top of the PoS contract are able to make transactions against the PoS contract for those rewards.
	Stake Weighting		Nash says no - more nodes - spreads the equivocation risk Greg says yes - wants to separate the whales from the tails. Wants to know if there is a cluster that corresponds to a whale. Stake in each shard is the same. Should recommend that the stake is matched to the OpEx and CapEx required in order to meet the Shard SLA Stake weighting decided by the next meeting. Shard by Shard weight or stake weight.

Action items

@Lucius Meredith: Provide his research for creating an algorithm that will lay down the shape of the DAG, which can be used to form the basis for rewards and punishments.

Doesn't mean that what it outputs will fit with our intuitions for rewards and punishments.