Feb 1, 2024

The Parameter Committee (interim state) meets on a tri-weekly basis. It discusses all parameters relating to the Cardano protocol including network, technical and economic 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: WIP 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

• PCP002 - verbal recommendation, invitation for deliberation

• Update on Parameter Guardrails (addition of new parameter)

• Report on initial parameter settings

• Any Other Business

Updates

• The first agenda item was PCP 002 “UTXO cost per byte”, and the advisory groups presented their conclusions after the analysis and deliberation. The committee agreed to start working on the PCP 002 recommendation to present all the arguments that led to the technical recommendation of the committee.

• This time we are using a template for structuring the arguments and conclusions, which will provide more clarity and transparently demonstrate how the arguments lead to the final decision of the parameter committee.

• The committee appreciates community feedback on the structure of PCP results so that we can improve the template for future PCP recommendations.

• The second agenda item was an update on Parameter Guardrails and the addition of a new parameter called minfeeRefScriptCoinsPerByte. This parameter has already been included in the Guardrails document, which we expect to be published in the near future but do not yet know a target date.

• The Governance Advisory Group presented an update on their report about initial parameter settings, emphasizing the community survey and plans for a Twitter space event to gather input. The team also discussed the timeline for finalizing the report and recommendations, proposing an extension for the survey and aiming to have the report completed by the end of the month.

• The committee agreed to test the recommended settings on SanchoNet.