Feb 22, 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: Pi Lanningham 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

• Update on PCP requests

• Report on initial parameter settings

• PCP002 - final recommendation

• Update on Parameter Guardrails

• Any Other Business

Updates

• The meeting began with an introduction and the decision to select PCP_max_tx_ex_mem_PiLanningham 2 as PCP-003 and work on it once the Committee finishes the work on PCP-002. Pi Lanningham presented on the topic of this Parameter Change Proposal, addressing the user experience on the Cardano blockchain related to the proposal and solutions to improve it. He advocated for increasing memory units and execution limits, citing potential benefits for dApps and minimal impact on stake pool operators’ machine requirements. The committee engaged in a detailed discussion about the correlation between memory units and CPU cost, emphasizing the need to consider both CPU and memory limits.

• The meeting also discussed the scope of this PCP request and the allocation of effort of the working groups. There was a consensus to involve the technical and network groups in PCP-003, given the implications of the proposed changes. The potential impact on governance was also considered.

• The meeting also touched on the other PCP requests. With the upcoming PCP-003 selected, it was decided to defer the other extant PCP applications as per the PCP process. The deferral of extant PCPs after a given triage and selection period provides a period for the authors to continue to refine their message, to accentuate the importance of the PCP for the next period, and to assess its ongoing relevance given developments (including the results of active PCPs) in the interim. Committee members emphasized the importance of addressing PCP requests with clarity and precision, highlighting the efforts to articulate good communications with the community.

• The meeting continued with discussions with the Governance Group on recommendations for governance parameters, with a link to the document with their recommendation and inviting the other committee members to contribute with some comments.

• The Committee members and the working groups will continue working on PCP-002 and will follow up in the next meeting.

• The Parameter Guardrails have been reviewed by the Parameters Committee members and their inputs have been incorporated.