Jehan Tremback on the Shift in Vision for Cosmos SDK | Informal Systems

Transcript

why is there a a shift or an apparent shift in vision and um is this Marketplace sort of the right way to to see interchange security moving forward yes yeah um I um there there has been a shift in vision and you're right that you described the uh the sort of strategy um you know from last year pretty well and I think the the reason we're shifting is because you know I think that the uh the the overhead of of governance ended up being you know more than we expected and the overhead of making every every validator get on board um and I think that one of the one of the points of friction that that happened was was that you'd have chains where you know you you let's say let's say Neutron for example Neutron is

there's a little bit of a split between atom token holders I felt and and validators so where for a token holder if you have Neutron on board that's very good because Neutron is a leading smart contract platform in in Cosmos and that's having having them on board is only good for for a token for an atom token holder it's like that's that's that's great to have them in for validators token holders don't really necessarily face any costs for every new consumer chain for validators they they do um and so that was a point where if you have this curated model in this decentralized context it becomes pretty tough to sort of like it's hard to do that sort of curation with a very decentralized you know community and ecosystem because

like you can't necessarily nobody can go and say look this is how it's going to be done these are going to be the chains we're going to have nobody has that Authority actually in in the in the cosmos Hub I certainly I certainly don't and and not even people who are you know very well like Ethan or something or zucky or jquan or whatever people who founded it don't even have that Authority so it's I think we kind of realize that we need to go since it is such a decentralized community and ecosystem we need to go for more free market model and and kind of let let things evolve uh versus versus having model that depends on uh kind of curation so I think that's that's why we shifted strategies another thing I will say though is there there's another Improvement coming in the new version of

IC which is something um I wrote about on the Forum but is not really um I don't think a lot of people have paid attention to it but I think it is pretty important which is that validators will be able to set their own commission rates um for each consumer chain so um right now how it is is the validators charge commission a lot of them charge 5% um that commission applies to their atom validation and also applies to any rewards that come from um the the consumer trains um and so validators generally don't want to change that because they don't want to raise their commission you know makes them less competitive with the new version of IC uh they're going to be able to say per consumer chain they're going to be able to say hey this consumer chain is a little expensive to run I'm going to be

charging 20% on this one and yeah so it's going to let them it's going to let them really dial it in a lot more and kind of you know kind of do better uh do better better for you know being able to to get the economics exactly right so that that'll help as well but I mean that yeah that that's sort of the the reason we we've shifted shifted it okay now that makes sense I mean like it look like taking a step back and and looking at I think what has really uh been a prevailing advantage of Cosmos uh maybe over you know I I like sort of a a tangent here but I like to compare Cosmos and polka dot as the cathedral and and the bazaar where Cosmos always took this very market-based approach and

and polka dot had a more Central decision-making approach and I think that that's that has been in you very important to the success of Cosmos and the flourishing of ideas in Cosmos now that makes things very messy and and that's normal and like governance is messy and decision- making is messy but in the end I think you get something that's much stronger much more resilient much better and uh yeah for for the long term this this idea of having a more market-based approach for uh interchange security feels more inlined with the cosmos vision [Music] [Music]