July 18, 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, Jonathan Kelly
Other: Communications: Tommy Kammerer, Matthew Capps Domain experts: Martin Lang, Andrew Westberg Observers: Secretary: Lewis Mayne
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
Electing Community Members
Use of Cardano Forum
Open Discord Channel
Benchmarking for PCP003
Updates to Guardrails
Updates
Electing Community Members
It was agreed that domain experts should be elected by Intersect members on a three year rolling basis. Nominees would need to have suitable technical experience. The expectation would be to add one domain expert before Intersect’s AMM in October and then hold elections on an annual basis or in the event that a domain expert stood down. Existing experts would be able to stand for future terms, without a limit on the number of terms they could serve
Use of Cardano Forum
It was agreed to continue the use of the Cardano Forum as a vehicle for general community engagement, and an effective way to publish minutes, receive PCPs etc.
Open Discord Channel It was agreed to set up and monitor an open Parameter Committee Discord channel, with correspondents either directed to the existing Cardano Forum or responses provided via the channel, as appropriate,
Benchmarking for PCP003 Michael Karg (IO Engineering’s Performance and Tracing team) presented preliminary performance results to evaluate the impact of increasing Plutus script execution step limits. While highlighting some concerns, these results suggest that there might be some scope to increase the current limits. Further investigation is needed into the effects of increasing Plutus script memory unit limits. These results will be presented at a future meeting.
Updates to Guardrails
Two guardrail changes were proposed:
1, VT-CC-01
VT-CC-01 (y): New Constitutional Committee action thresholds must be in the range 65%-90%
Change to:
VT-CC-01 (y): New Constitutional Committee action thresholds must be in the range 51%-90%
2. PCM-03
PCM-03: Cost model values must not be negative
Change to:
PCM-03: Cost model values should not be negative
Both changes were agreed. The change to PCM-03 was agreed unanimously. The change to VT-CC-01 was agreed by a clear majority.
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