CIP-1694: Pluralism Now!

CIP-1694: Pluralism Now! After Town Hall Discussion hosted by Kenric Nelson (Photrek) and Stephen Whitenstall (QADAO)

CIP-1694: Pluralism Now! After Town Hall Discussion hosted by Kenric Nelson (Photrek) and Stephen Whitenstall (QADAO)

CIP-1694 - https://github.com/JaredCorduan/CIPs/...

CIP-1694 Comment Thread - https://github.com/cardano-foundation...

Code: https://github.com/Photrek/Cardano-Ca...

Discussion: https://github.com/Photrek/Cardano-Ca...

Previous ATH on Decentralization: • CIP-1694: Is Decentralization Possible? ----------------------------------------------------------------------------------------- Timestamps

Welcome - Kenric - 00:08

Introduction - 00:18

"All the President's Bankers" - 02:40 - https://en.wikipedia.org/wiki/Nomi_Prins

Decentralization as a cover for plutocracy - 05:56

"identity verification is very difficult without some centralized oracle" - 06:50

"Reducing the power of entities with large amounts of Ada" - 07:53

Wealth as a replacement of Identity - 09:12

Edinburgh Workshop - Steph - Wolfram- 11:28

Merging of CIP-1694 - Jenny - 15:08

Voluntary release of control - Eystein - 16:21 ----------------------------------------------------------------------------------------- Mathematica Notebook "A Plural Voting Design for Cardano’s Delegated Representatives using Hyper-Plutocratic Deposits for Sybil Resistance" - 18:08

CIP-1694 voting mechanism - 19:20

Delegate Weight will be pluralism - 20:30

Deposit Weight will be "hyper plutocratic" Sybil Resistance Mechanism - 21:13

Minimum deposit will match minimum delegation - 23:40

Analysis of Delegate & Deposit Weight - 24:22

Graph " log-log plot shows how the voting weight for the delegate and the deposit have opposite slopes as the number of wallets is increased" - 27:06

"Deciding power becomes marginal ?" - Thorsten - 30:28

Reducing the significance of the power law distribution tail - 31:32

Cauchy Distribution - 32:06

Comparison with Brexit voting (influence of marginal votes)- 33:30 - Thorsten

From the Mean to the Median - (true representation of the community) - 34:21

Pluralism as Quadratic Voting - Steph - Wolfram - 36:05

A whale splitting across wallets - (applying voting power constraints) - 36:30

Why no rule preventing this breakdown ? - 37:25

Because of the lack of an ID constraint - 37:45

Splitting a wallet to increase votes constrained by deposit - 38:04

Example - A modest delegation with a minimum deposit cannot split into two wallets - 39:15

This proposal proposes a deposit, so dReps will become like SPOs ? - Ninh - 40:33

The size of your deposit will effect how many votes you are eligible for - 41:31

Weakness of a dRep collaborating with a Whale voter ? - Ninh - 42:20

Graph - Even with an investment of 10,000 for the deposits, the maximum votes is limited to 10 wallets - 42:55

Possibility of benefit limited by scale and much less than 1C1V- 43:40

Graph - DReps deposits of 10,000 ADA to increase delegation to 10 million ADA requires reduction in no of wallets - 45:06 Need to address Sybil Resistance - 46:10

Thresholds would not change overall proportion of votes ? - Marek - 47:13

CIP-1694 is linear (1c1v) whilst plural voting takes square root - 48:12

Every dRep will try to be top of the curve ? - Marek - 49:17

Voting power calculations - 50:10

How will changes protect against Sybil attack ? - Marek - 51:33

1c1v not a Sybil Attack ? - Assumption of independence of each ADA/Vote pair - 52:46

Acceptance of implicit "Sybil Attack" in 1C1V - 53:38

(Acceptance of the correlation of voting with plutocratic wealth) Graph - Spread of delegates across wallets - (Sybil resistance in the range of 100 to 10^5 votes) - 54:10

Graph - Analysis of DRep Votes using multiple wallets - 55:21

Transaction fees as a deterrent - Ken - 55:51

dRep deposit as annual fee - 57:37

Voting power dependent on stake pool rewards - Thorsten - 1:00:08

Time period for holding pledge - Ninh - 1:02:18

Sybil Resistance requires ID or some cost (resource or reputation) - 1:03:05

Pair-wise co-ordination Sybil resistance - (vbuterin) - 1:03:52 (https://ethresear.ch/t/pairwise-coord...)

Tracking history of dRep wallets -1:03:52

(highly correlated wallets discounted) Graph - Analysis of solo DRep -1:05:45

Whale creating 1000 wallets - 1:06:45

How voting distribution normalizes - 1:08:19

10k wallets - CIP-1694 bootstrapping - 1:09:18

General discussion - 1:10:25

Conclusion - Kenric - 1:10:40

220KB

DRep Voting with Security Deposit.pdf

pdf