As part of GIP16 we are planning to launch the Gnosis Beacon Chain.
Generally, it will function identically to the Ethereum Beacon Chain. However - there are a handful of parameters that we can set different to make a) the chain for it’s user more attractive b) provide valuable insights for ETH2 research community to test out directions that Ethereum is planning to go to long term.
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Faster block (slot) times
ETH 2 is using 12sec - we are suggesting to stick to the 5sec that are already working well on xDAI today -
Slots per epoch - Faster finality
Ethereum currently has 32 slots per epoch. Thus finality can only be reached after 32 slots. There are ideas on how to eventually get to 1 slot finality. We are suggesting starting with 16 slots and if that does not cause issues to reduce that parameter over time. -
Minimum validator threshold - this is long-term not a relevant parameter. To start the chain we suggest having at least 4096 validators (== 4096 GNO staked) ready.
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Reward factor
This is a free parameter that will essentially influence how much rewards validators can expect. Note that faster block times and shorter epochs already very much influence (increase) validator rewards.
We are suggesting setting this parameter to 25.
This overall will result in the following curve:
(1 unit on the x Axis is 100 validators = 100 GNO)
Here are a few spotlights from the curve:
| GNO staked | % of circ. GNO validating | reward for validators | Total GNO rewards | Overall inflation p.a. |
|---|---|---|---|---|
| 4096 | 0.23% | 83.85% | 3434.496 | 0.19% |
| 50000 | 2.78% | 23.01% | 11505 | 0.64% |
| 100000 | 5.56% | 16.65% | 16650 | 0.93% |
| 200000 | 11.11% | 11.89% | 23780 | 1.32% |
| 400000 | 22.22% | 8.45% | 33800 | 1.88% |
| 800000 | 44.44% | 5.99% | 47920 | 2.66% |
| 1800000 | 100.00% | 4.00% | 72000 | 4.00% |