We’ve introduced a voting system which has been added to change the parameters of the Aergo blockchain. Previously, Aergo’s DAO could only change the number of Block Producer (BP) nodes through voting. With this new release, you can change additional parameters on a number of areas and each detailed below:
1. Number of BP Nodes
The DAO can flexibly increase or decrease the number of nodes connected when it wants an additional BP node or when it is determined that the number of available BPs is too small.
2. Minimum amount of AERGO to Stake
It was difficult to cope with AERGO’s fluctuating value with fixed values. This hardfork update enables a flexible fix.
3. Price of Gas
We’ll introduce more of this in our upcoming article, Fee 2.0. Nonetheless, it has been added to handle transaction processing fees flexibly.
4. Price of name service
Aergo contains a name service to translate addresses into easy to remember short names. Previously the service was fixed value of 1 AERGO, now it can be changed.
As with the existing BP nodes voting, staking accounts can vote as members of the DAO. The Aergo blockchain will aggregate the voting results through every block and will automatically change the parameters.
However, if the parameter is changed too frequently, it may not only cause confusion for users, but also threaten the stability of the blockchain. Thus, the parameter can be changed only when more than two thirds of DAO members agree.
DAO - Aergo’s Decentralized Autonomous Organisation was originally published in Aergo blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
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