Apr 4, 2024

The Parameter Committee (interim state) meets on a tri-weekly basis. It discusses all parameters relating to the Cardano protocol including network, technical, economic and governance parameters, providing technical advice and recommendations on updatable parameter settings.

Updated list of the Members (interim state):

Chairs: Chair: Kevin Hammond Vice- chair: Alex Moser Vice- chair: Vijay Bhuvangiri

Advisory Group Heads: Network group: Neil Davies Technical group: Markus Gufler Economic group: Samuel Leathers Governance group: Adam Rusch

Advisory Group Members: Network group: Karl Knutson, Matthias Sieber, Marcin Szamotulski Technical group: Ruslan Dudin, Michael Peyton Jones, Ashish Prajapati Economic group: Sergio Sanchez, Philip Lazos, Giovanni Gargiulo, Sheng-Nan Li Governance group: Oscar West, Riley Kilgore, Nicolas Cerny

Other: Communications: Tommy Kammerer, Matthew Capps Domain experts: Martin Lang, Andrew Westberg Observers: Secretary: Joaquín López

Remit

The purpose of the Parameter Committee is to provide technical advice and recommendations relating to the updatable protocol parameters, taking into account economic, security, network and other technical considerations, as appropriate to protect the long term sustainability of the Cardano blockchain.

Agenda and Updates:

Agenda

• Report on initial governance parameter settings

• Update on PCP-002 (utxoCostPerByte)

• Update on PCP-003 (max_tx_ex_mem)

• Update on Parameter Guardrails

• Appointment of new PC secretary

• Observer Policy

• Any Other Business

Updates

• The secretary announced his departure from the team and received appreciation for his contributions.

• The Governance Group provided an update on the initial governance parameter settings, acknowledging a delay in the report and outlining the timeline for feedback and finalization. The Chairs emphasized the time pressure and the need for a constructive discussion on the settings for the hard fork, highlighting the importance of reaching an agreement on the recommendations.

• The Committee agreed to let the Governance Group complete the report on initial governance parameter settings and once it’s shared, the committee members will review it and prepare for the final discussion in the next meeting.

• The committee discussed updates on PCP-002, sharing feedback and action items related to the recommendations. The final recommendation and the rationale are almost finished and all committee members are requested to review it and provide feedback.

• The team also discussed updates on PCP-003. Technical and network groups will review the benchmarking results for PCP-003 and make an assessment.

• Additionally, the committee received an update on the Plutus script execution unit limit and plans to introduce a new Plutus version and associated cost model settings for the upcoming hard fork.

• Finally, the committee discussed the transition of responsibilities and the need for a volunteer to take over the secretary’s position, as well as the policy for inviting observers to the meetings and the role and limitations of observers.