October 10, 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

• Plutus V3 Cost Model Parameter Changes

• Revised SPO Voting Thresholds

• Procedures for Proposing Parameter Changes On-Chain

• Feedback from Constitutional Workshops

• Community Domain Experts Recruitment

• Communications Channels

Updates

1. Plutus V3 Cost Model Parameter Changes

• The committee reviewed the proposed additions to Plutus V3 cost model values to accommodate CIP-0122, CIP-0123 and CIP-0127 after the Chang#2, and recommended that they be enacted on PreProd and Mainnet prior to the hard fork. "andByteString": {

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• "type": "linear_in_max_yz"

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• "memory": {

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• "xorByteString": {

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• "type": "linear_in_y_and_z"

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• "memory": {

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• "type": "linear_in_max_yz"

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• "complementByteString": {

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• "slope": 680

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• "type": "linear_in_x"

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• "memory": {

• "arguments": {

• "intercept": 0,

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• "type": "linear_in_x"

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• "readBit": {

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• "arguments": 95336,

• "type": "constant_cost"

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• "memory": {

• "arguments": 1,

• "type": "constant_cost"

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• "writeBits": {

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• "type": "linear_in_x"

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• "replicateByte": {

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• "type": "linear_in_x"

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• "memory": {

• "arguments": {

• "intercept": 1,

• "slope": 1

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• "type": "linear_in_x"

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• },

• "shiftByteString": {

• "cpu": {

• "arguments": {

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• "slope": 8942

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• "type": "linear_in_x"

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• "memory": {

• "arguments": {

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• "type": "linear_in_x"

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• "rotateByteString": {

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• "slope": 8813

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• "memory": {

• "arguments": {

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• "type": "linear_in_x"

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• "countSetBits": {

• "cpu": {

• "arguments": {

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• "slope": 3298

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• "type": "linear_in_x"

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• "memory": {

• "arguments": 1,

• "type": "constant_cost"

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• "findFirstSetBit": {

• "cpu": {

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• "slope": 655

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• "type": "linear_in_x"

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• "memory": {

• "arguments": 1,

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• },

• "ripemd_160": {

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• "type": "linear_in_x"

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• "memory": {

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• "type": "constant_cost"

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.

2. Revised SPO Voting Thresholds

• The committee discussed whether to raise SPO voting thresholds. Most current voting thresholds are set at 51%. It was agreed that no change should be recommended now, but to monitor SPO vote participation post-hard fork with a view to increasing the threshold if appropriate.

3. Procedures for Proposing Parameter Changes On-Chain

• Reviewed standard and emergency procedures for proposing changes. Clarified timelines and communication methods.

4. Feedback from Constitutional Workshops

• The committee reviewed feedback on constitutional committee terms and size.

5. Community Domain Experts Recruitment

• The committee discussed how to recruit more members. Consider a communications plan to engage potential members post-elections.

6. Communications Channels

• The committee discussed the use of communication channels like Discord and Slack for better engagement. Further discussion will take place post-elections in order to refine the communication strategy.