2018-07-13 Validator Economics Meeting

Co-Ordination barriers for set up shards.

@Lucius Meredith & @Nash Foster

• Describes his perspective on advocating for Stake Weighting - Greg will write this proposal

• Describes the issue with equal stake

  • Co-ordination barrier up front.  Someone creates a shard, and then they can advertise for validators.  Should not require co-operation at the outset.

    • Without transactions there are no validators, and without validators there aren't transactions either.

  • Nash doesn't agree with this, it depends more on who the validator is.  Nash believes that high performance applications are what dapp developers wants.

  • The root shard will be large and slow. There is an incentive to split off into other shards. 

    • Michael Birch - aren't there already incentives in place for this? No one will join, because it is a shard of 1 validators.

    • In order to over come this - we need an incentive for people to fill up the slots in the shard.

    • The root shard has to be like BTC and ETH.

  • For shards have have specific functions - Those require co-ordination up front.  People want to do this.  DApp developers have been saying that they want high speed transactions and other specific features.  These are like private chains, but they transact with the public Rev Token.

  • Validator X won't want to kick off a shard unless they know that other validators will make the investment for particular shards.  Validator X will need to get a bunch of parties interested to operate his shard.  Validator X needs to find other prospective validators to join his shard.  

Prospectus?

@Lucius Meredith

• Greg wants us to get in touch with the Validators that are going to stake the network.

  • Greg believes that we need to take input from the set of validators that plan to stake the network.

  • Greg wants the operational side of the prospectus.  Nash isn't going to tell them how to build the system.

  • Greg is asking for black box numbers.  Bottom line numbers for Operational Costs.

Meeting time moving forward

@Lucius Meredith

• Time to invite people that are going to front the money and stake the network.

• Document describing why it is of interest of them to stake the network.  

  • Important that we write first and talk later.  We have to have a draft of a prospectus.  Put 1 business case on the table.

  • Mike and Nash want to connect and discuss.  Greg would like to have something to show the validators by the end of the month. 

  • Greg and Nash to connect on Tuesday (Greg is in Scotland)