►
From YouTube: CasperLabs Community Call
Description
Development status update & Discussion around storage fees, EIP 1559 and fee stabilization
A
So
today,
I'm
going
to
give
you
all
an
update
on
the
technical
front.
Ashokan
I'll
do
that
and
then
we're
going
to
talk
a
little
bit
about
the
topic
that
the
community
want
to
talk
about,
which
is
fees
for
storage
and
how
weird
that
we
think
that's
gonna
work.
It's
just
gonna
be
an
open
conversation.
It's
not
gonna,
really
be
an
analysis.
A
It'll,
take
us
some
time
to
get
the
analysis
done,
but
we'll
just
have
a
discussion
about
what
our
thinking
is
around
it
and
then
I
believe
owners
got
a
short
presentation
and
that
should
wrap
it
up.
We
don't
have
any
product
demos
today,
right,
Ashok,
I,
don't
think
we
have
a
product
demo
today,
so
we
didn't
prep
one.
So,
let's
get
let's
dive
right
in.
A
No
product
demo
today
right,
we
will
show
ya
I,
don't
think
we've
got
the
voting,
DAP
ready
to
go
otherwise
we'll
show
that
next
time,
maybe
all
right.
So
the
team
did
its
third
off-site.
Last
Friday
we've
been
doing
these
virtual
off
sites
every
four
week
we
have
a
four
week
cycle
that
we
go
through
at
the
end
of
every
four
weeks.
We
cut
our
release
and
we
plan
our
next
four
weeks
out.
This
has
been
working
out
pretty
well
and
we
do
have
four
week
release
cycles.
A
A
A
D
A
Still
very
much
alpha
software,
so
the
next
release
would
be
cut
at
the
end
cut
at
the
end
of
this
week
and
it's
gonna
go
into
LRT
before
we
do
anything
with
the
test
net.
So
it's
not
LRT.
Before
final
release,
we
will
cut
the
release
and
github
Ashok
so
before
we
say
final
release
here
before
upgrading
test.
That
is
really
what
we
want
to
say
here.
So
the
release
will
be
cut
and
available
yeah
and
it
will.
What
will
happen?
Is
it'll
go
into
LRT
for
seven
days
before
we
release
it
to
validators.
A
The
test
net
has
this:
is
the
highest
J
rank.
We've
had
it's,
the
test
net
has
been
very
stable.
We've
got
a
total
of
29
nodes
on
the
network.
24
of
them
are
consensus
forming
nodes.
As
part
of
our
beta
timeframe.
We
will
be
opening
up
the
network
and
adding
more
nodes
to
it.
I
believe
in
our
LRT
we're
testing,
42
notes
at
the
moment.
So
the
target
is
the
North.
A
Star
is
40
to
50
nodes,
we'll
be
talking
to
some
of
the
large
validating
pools
about
the
potential
potentially
working
with
us
in
our
beta
test
net
milestone,
you
can
sign
up.
The
information
is
on
our
discord
channel.
So,
if
you're
interested
in
joining
the
test
net,
you
got
to
sign
up
and
get
on
the
Genesis
block.
A
We
have
about
yep,
we've
got
17
bug,
fixes
and
there's
a
couple
that
are
being
triaged,
but
it
looks
like
we
shook
out
most
of
the
out
of
the
most
of
the
bugs
out
of
the
out
of
the
consensus
protocol
during
the
test
initial
test
net
phase,
which
is
our
goal
and
we'll
be
deploying
most
of
those,
if
not
all,
of
them.
As
part
of
the
dot
over
leaves
so
Kurt
focus,
you
know
for
the
dot
oh
release.
We
want
to
bring
the
token
transfer
functionality
host-side.
A
So
that's
one
of
the
things
that
we're
doing.
We
all
want
to
run
a
performance
test
after
this
work
is
complete
and
report
back.
How
many
token
transfers
we
can
perform
per
second
there's
a
lot
of
tuning
to
happen
at
the
protocol
level.
So
we
hope
we'll
get
a
good
understanding
of
how
this
thing
works
after
running
that
performance
test,
we're
also
working
a
lot
on
the
rust
implementation.
So
a
lot
of
the
work
you're,
seeing
here
on
this
contract
runtime
is
the
Oise
endless
transfer
of
Persons
right
access.
A
A
A
You
should
probably
take
it
out
because
it
doesn't
belong
in
this
status,
update
cuz
we're
not
actually
working
on
the
secure
Enclave
work,
but
it
is
still
on
the
backlog.
We
might
just
choose
to
implement
it
on
the
rough
side
and
not
do
them
on
the
scalo
side,
but
we
should
probably
rip
it
out
of
here,
because
they're
not
doing
it
right
now.
A
On
highway
we're
ahead
of
schedule
on
the
rust
highway
pieces,
we
are
now
focusing
on
integrating
some
of
the
pieces
that
are
close
to
highway,
but
are
not
part
of
highway,
and
this
is
the
arrow
supervisor
and
deploy
gossiping
these
pieces
kind
of
attach
onto
Highway
and
they
help
highway
be
stable,
but
if
you'll
notice,
there's
no
era
mention
of
arrows
inside
that
the
paper
itself
right.
This
is
something
that
makes
it
makes
the
math
all
kind
of
work
on
a
computer,
so
you
got
to
have
arrows.
A
This
is
when
you
know
you
can
do
validator
set
rotation.
This
is
when
you
can
do
deploy
pruning
right.
This
is
when
you
can
kind
of
prune
away
everything
that
was
finalized
in
the
era
within
this
state
of
the
machine,
the
Machine
state,
not
the
global
state,
but
the
machines
other
pieces
that
support
making
sure
that
transactions
are
being
processed.
So
that's
what
the
arrows
are
really
important
for
and
also
validator
set
rotation
on
bonding
periods
right.
You
need
a
certain
number
of
arrows
to
clear
before
you
can
unbought.
A
So
this
is
an
overlay
on
top
of
the
consensus
protocol.
If
you
want
to
imagine
it
like
a
container
within
which
the
consensus
protocol
runs
we're
moving
the
contract
runtime
into
the
node
rust
right,
so
there's
an
implementation
with
Scala
there's
going
to
be
an
implementation
in
the
in
the
rust
node
as
well.
So.
B
B
A
I'll
make
a
note
of
it:
yeah,
let's
carry
on,
so
we
are
getting
dot
2-0
ready.
We've
got
a
bunch
of
bug,
fixes
that
are
currently
in
LRT
that
were
part
of
the
19.1
branch,
so
those
have
actually
been
in
test
for
some
time
and
the
goal
is
that,
within
the
long-running
test,
we're
trying
to
shake
out
any
last
little
critters
that
are
hanging
around
in
the
codebase.
A
A
Got
it?
Okay,
ecosystems
got
a
ton
of
work,
they
have
been
so
busy
they've
also
been
building
the
voting
application
for
the
crypto
chick
scales,
so
that's
kept
them
super
busy.
They've
got
a
port
everything
when
we,
when
we
change
implemented
contract,
headers
they've
got
to
update
everything
to
use
the
headers
because
it
is
yeah
I
believe
it
is
a
breaking
change
right.
So
the
old
contracts
won't
work,
yeah
right
exactly.
A
A
A
Are
you
accounting
for
blocks
potentially
being
orphaned
like
if
I
proposed
an
Omega
block
and
it
gets
orphaned?
I
think
we
shouldn't
do
anything
there,
but
we
can
talk
about
it
and
then,
of
course,
we're
porting
the
market
fee
simulator
to
rust.
This
is
this:
what
the
work
that
you
presented
a
few
weeks
ago
on
or
yeah.
A
A
All
right,
terrific,
great,
let's
go
into
what
folks
in
the
community
wanted
to
talk
about.
If
I
could
remember
correctly
Jo,
it
was
put
you
on
the
spot
here.
What's
the
topic
they
wanted
to
hear
about,
they
wanted
to
hear
about
paying
for
storage.
Do
we
burn
these
fees
and
which
fees
get
which
validators
get
the
fees
for
storage
so
yeah?
So
this
is
an
interesting
problem
right.
So
when
you
talk
about
storing
storing
information
on
the
blockchain,
we
know
that
story.
A
You
know
the
blockchain
is
meant
to
store
information,
not
raw
files
right,
so
you'll
want
to
you'll.
Have
some
storage
around
your
smart
contracts.
You'll
have
some
smart
storage
around
data,
but
you
don't
want
to
use
the
blockchain
for
is
storage
like
a
storage
of
files,
right
storage
of
files,
it
becomes
really
really
expensive
because
you
can
imagine
having
thousands
and
thousands
of
replications
of
the
same
file,
which
is
completely
overkill
right
at
the
most.
A
You
would
probably
need
like
two
or
three
copies
of
the
file
to
have
enough
backup
redundancy,
but
what
you
don't
need
is
a
thousand
copies
of
your
file
right
and
so
storing
a
binary
files
is
something
we
are
not
going
to
support.
It's
going
to
be
really
expensive
and
difficult
to
store
binary
files
on
our
blockchain,
but
the
question
then
becomes
is
like
who
should
actually
get
the
fees
for
storage?
Is
it
something
that
should
be
split
up
across
all
the
validator
set?
Should
those
fees
be
burned?
A
One
of
the
things
that
we
know
we're
thinking
about
is
that
if
you
wanted
to
counteract
inflation
on
the
blockchain,
because
you
know
the
system
will
be
inflating
thanks
to
senior
age
burning
fees
is
a
nice
way
to
counterbalance
that
right.
So
for
any
storage
that
you
have,
you
just
burn
those
storage
fees
completely,
and
this
this
counteracts
a
lot
of
the
in
you
know
the
inflation
that's
happening
in
the
blockchain
right,
because
people
like
to
have
a
much
more
fixed
supply.
A
A
You
would
want
to
eventually
be
able
to
prune
accounts
away
that
don't
have
some
kind
of
a
minimum
balance
or
you'd
want
to
incentivize
people
to
garbage,
collect
their
accounts
right
to
keep
everything,
nice
and
clean
cleaning
up
the
global
states,
an
important
thing
and
I
think
a
lot
of
projects
may
not
be
thinking
about
this
as
hard
as
they
need
to
own
or
Alex.
Do
you
have
any
opinions,
I
guess
kind
of
throw
a
bunch
of
stuff
out
there
join
the
conversation.
D
I
can
talk
about
the
second
option,
which
I'm
like
leaning
more
on
mm-hmm,
because,
like
the
point
is
you
have
a
limited
resource,
well,
a
very
slowly
growing
resource.
Like
you
know,
you
wouldn't
want
your
global
storage
requirements
for
a
full
full
nose
to
grow
too
fast.
Money
theory
emits
around
the
order
of
100
gigs
per
year,
which
is
manageable
but
yeah,
and
then,
with
the
advance,
pruning
capabilities
of
like
guess
and
parity
they
race
with
time
like
they
find
more
and
more
efficient
ways
of
pruning
it.
D
The
goal
is
to
for
for
I,
like
sort
of
full
note,
is
to
only
have
as
necessary
for
the
global
states
and
the
archival
notes
can
can
follow.
Hold
everything
but
the,
but
the
nose
validators
are
running
welding
nodes
are
running,
do
not
should
not
have
to
have
like
ever-increasing
storage
requirements.
You
shouldn't
have
like,
like
3
tab
by
SST
storage
requirement
after
10
years.
Hopefully
because
it's
it's,
it
hurts
so
it's
it's
a
barrier
to
entry
for
for,
like
we
don't
know
how
how
big
this
can
get
like.
D
If
we
can,
we
can
over
overcome
the
communication
complexity
and
it
will
be
nice
to
have
like
I
know
thousands
and
thousands
of
validators,
which
will
be
also
a
lot
of
messages
and
a
lot
of
blocks.
A
lot
of
people
need
to
store,
so
they,
and
so
this
scarce
resource,
limited
resource
you
would.
The
easiest
way
is
just
to
like
meta
said:
hold
them,
you
don't
need
to
burn,
you
don't
need
to
transfer
to
validators
but
say
you.
D
You
hold
X
amount
of
tokens
that
gives
you
Y
amount
of
Y
bytes
of
storage
rights
on
the
on
the
global
state.
Basically,
and
if
you,
if
you
try
to
you,
know
transfer,
if
you
want
to
sell
your
tokens,
maybe
it
gives
an
error
by
there
are
like
H
cases
we
need
to
handle
for
the
best
user
experience,
but
basically
it
would
top
up
your
account
and
you,
when
you
hold
them
you're,
basically
like
locking
them
up.
D
C
D
A
D
D
D
A
Has
to
be
some
kind
of
tier,
probably,
and
you
can
bank
on
it,
that
people
are
gonna
optimize
for
whatever
kind
of
tiered
model.
If
it's
not
a
fluid
model
doesn't
seem
to
make
sense
because
I
mean
you
could,
theoretically
with
with
Turing
payment
code,
it's
like
anytime,
you
add
something
to
the
state
of
your
contract.
Your
payment
code
could
theoretically
just
increase
the
amount
of
token
you're,
locking
up
right
for
yeah
cuz.
A
D
D
Nice
thing
with
payment
code
right
right,
Vittoria
logic,
and
it's
it's
important
to
say
that
in
this
case,
storage
fees
versus
execution
fees
treated
differently.
They
will
they
were
both.
They
could
both
be
denominated
in
gas.
Maybe,
but
whereas
execution
fees
are
received
by
the
validators,
the
proposer,
the
storage
fees
are
like,
like
there
is
no
storage
fee
like
actually
you.
D
D
D
Bad
thing,
so
I,
don't
wanna,
make
general
statements
because
depends
on
the
platform,
but
well
people.
People
have
an
assumption.
Inflation
is
bad,
always
and-
and
it's
it's
good
when
it's
counteracted
by
deflation
and
I
just
want
to
you
know,
say
not
necessarily
doesn't
have
to
be
so
in
Bitcoin
in
etherium,
like
you're,
you
currently
have
inflation
and
it's
well.
Is
it
hadn't?
It
hasn't
hindered
the
ecosystems
in
an
observable
way
like
they
could
they
prove
a
lot
without
any
like
just
with
this
mechanism.
They
grew
a
lot
of
course,
I.
D
A
D
D
A
A
This
wood
token
would
be
law
up.
It
wouldn't
be
staked
right.
So
it's
not
like
you
can
have
a
balance.
Take
it
Ernst,
taking
rewards
and
have
your
gas
have
your
you
know,
storage
accounted
for.
We
would
have
to
figure
that
out.
That's
something.
We
would
definitely
need
to
think
if
it's
delegated,
if
it's
delegated
for
bonding,
does
that
account.
It
probably
should,
because
all
the
accounts
would
definitely
you
know
you
won't
be
able
to
delegate
stake
for
contracts.
A
D
A
D
D
We
use
them
in
tandem
because
you
have
this.
I
was
in
my
simulations.
I
wasn't
accounting
for
the
fact
that,
well,
users
are
standing
attaching
fees,
you
know,
I
mean
some
token,
but
the
value
of
this
token
is
also
you
know
in
terms
of
fiat
is
changing
during
the
day
and
also
validators
are
incurring
costs
in
fiat
that
adds
a-hole
and
other
dimension
to
the
problem
that
we
have
volatility.
D
So
why
not
use
the
token
price
in
this
price
adjustment
to
have
a
you
know,
even
even
more
stable
system
and
yeah
I,
just
I
explained
this.
Last
week,
yeah
I
already
talked
about
Bitcoin
difficulty
adjustment.
So
you
see
the
feedback
balancing
feedback
loop
here
happens.
Every
2016
blocks,
like
I,
said
it
allowed.
Bitcoin
to
you
know,
withstand
the
shifts
hash
rates
like
like
clockwork
after
mom
a
lot
of
miners
shut
down,
but
it
still
continued
working
because
it
wasn't.
This
adjustment
was
done
in
a
trustless
way.
D
D
You
have
the
cycle
every
day.
This
is
something
this
is
the
structure
of
the
underlying
market
you
have.
This
is
something
you
cannot
ignore,
so
any
any
sort
of
solution,
you're
bringing
must
account
for
it
and
yeah.
This
is
a
lot
of
text,
I
just
copy
and
paste
this
slide,
yet
the
algorithm
for
gas
price
adjustment.
D
Instead
of
yeah,
the
I
underlined
the
difference
from
the
IP
1559.
It
would
change
the
slow
rate
during
the
day
we
we
will
target
a
you
know,
aggregate
fullness
that
so
that
the
demanded
throughput
equals
black
blockchains
capacity
at
its
height
I'd,
be
at
the
surges
height.
This
is
equal
to
a
premium
pricing,
so
this
is
making
something.
D
D
That
I
did
sorry
that
are
in
the
market
per
block
increase
from
like
on
average
5,000
to
like
9,000,
and
you
would
see
that,
like
the
price
is
stable
during
the
day
because
it's
fixed
it
changes
at
the
end
of
the
day,
but
also
the
price
adapts
nicely
to
learn
from
trance.
You
see
the
fixed
price
following
the
same
profile.
Like
I
said
you
have
this
problem,
so
this
is
the
etherium
price
graph
on
like
this
year
to
also
march
it
fell
from
180
to
I.
D
Don't
know
around
9800
something
almost
fifty
forty,
fifty
percent
fall.
Imagine
if
you
were.
If
you
had
fixed
the
price
morning,
you
would
be
paying,
for
example,
like
ten
cents
per
transaction
and
in
like
12
hours
later
you're
paying
five
cents
per
transaction.
That
would
mean
there
will
be
a
lot
of
people
sending
transactions,
because
it's
much
cheaper
now
and
you
will
see
a
huge
surge.
D
D
So
the
solution
today
to
this,
as
I
explained,
we
use
a
price
link.
So
we
have
this
chain
link
oracles
and
they
allowed
them
to.
The
Oracle
allows
us
to
fetch
the
CL
x
price
in
a
smart
contract.
The
gas
prices
still
denominator
in
clx,
but
its
cross
peg
to
fiat.
So
gas
is
kind
of
you
know
fixed
to
USD.
D
Let's
say
1
trillion
gas
equals
1
USD,
but
the
Fiat
price
goes
will
also
adjust
according
to
blog
phone,
sir,
so
this
price,
1
USD,
will
increase
5%
tomorrow,
maybe
depends
Oh,
5
percent.
Is
it
great
that
is
too
high,
maybe
1%?
If
yesterday
was
too
full?
That
means
it's
time
to
increase
the
price,
because
we
don't
want
surges
right,
and
this
is
what
what
I
want
to
cancel
it
consolidate.
Like
our
research
in
the
last
couple
of
months,
I
want
to
consolidate
under
an
area.
You
know
brand
name,
we
want.
D
So
let
me
let
me
just
give
list
of
benefits.
Although
adjusting
gas
price
I'm,
we
express
it
in
fiat
terms.
That
means,
if
the
token
price
falls
a
creative
person
in
them
in
a
day,
the
five
cent
transaction
still
costs.
Five
cent
in
the
midnight
you
know
and
the
huge
bonuses
cash
flow
lab
does
not
decide
for
gas
price
to
market
test.
It
takes
a
huge
load
off
of
cash,
perhaps
shoulders.
D
We
want
this
system
to
be
autonomous,
sound
like
we
want
this
to
regulate
itself
organically.
Just
like
it
see
it's
a
good
quality
of
the
block
chain
of
other
block
chains.
This
is
our
block
chain
should
work,
so
it's
trustless,
it
doesn't
require
a
third
party,
not
neither
catalyze,
no
or
another.
Authority
is
deciding
for
the
pricing.
It's
just
protocol,
that's
as
put
forward
and
on
top
of
it
surges
are
prevented.
So
you
satisfy
your
service
level
agreement.
D
You
bet
you
have
you
basically
have
all
the
benefits
of
the
previous
systems
that
we
mentioned
collected
under
the
same
umbrella,
but
I
I
didn't
extend
this
list
to
list
disadvantages,
so
on
top
of
that
it
also
you
also
collected
disadvantages.
The
price
link
could
be
exploited.
This
will
be
a
chain
link
or
achill.
We
decentralized
one,
but
no
system
is
infallible
and
it
could
eventually
be
manipulated
also
this
adjustment
mechanism.
This
could
also
be
manipulated.
D
The
same
conservative
VIP
1559
on
theorem,
so
people
are
very,
like
my
name
is:
might
sorry
validators
might
just
keep
paying
so
you're,
including
their
own
transactions,
like
a
sort
of
how
we
call
and
like
fate
well
in
creating
fake
volume
on
the
blockchain.
In
order
to
maybe
increase
the
prices,
they
want
to
extract
profits
off
of
a
certain
certain
portion
of
the
market.
Maybe
so
these
these
concerns
exist.
So
these
are
disadvantages.
D
A
D
D
Fee
splitting,
so
the
network
should
would
have
to
like
form
a
cartel
collectively
or
consistently
perform
this
attack,
which
is
really
expensive,
depending
on
the
it
all
depends
on
your.
How
have
you
handled
transaction
fees?
So
as
we
as
we
consolidate
this
more,
it
will
be
more
and
more
appearance,
so
we
can
affect
the
other
parts
of
the
design
accordingly,
but
this
is
something
this
is
something
I'm
proud
of
thanks
to
Alex,
and
also
like,
like
the
research
we
did
in
the
last
year,
because
I
I
was
always
concerned.
What
are
we?
A
D
A
D
A
Other
thing
I'd
like
to
do
too
is
computationally
I'd,
like
that
the
block
so
for
the
total
compensation
of
the
validator
right.
So,
let's
say
validator
receives.
You
know
like
a
total
amount
of
compensation
that
map's
over
to
their
op
ex
and
capex
right.
If
you
look
anything
and
Bitcoin,
the
overwhelming
majority
of
the
work
that
they're
doing
in
terms
of
computing
power
is
actually
consensus,
overhead,
it's
hashing
right,
and
so,
when
you
look
at
their
rewards,
it
also
makes
sense
that
the
block
rewards
are
almost
90
to
95
percent.
A
Coming
from
the
consensus
protocol,
that's
the
block,
rewards
versus
the
transaction
fees.
It
would
be
really
good
to
as
a
guideline
to
say,
our
consensus
overhaul
overhead
is
X
for
a
given
validator
set
and
therefore
X
amount
of
computation
is
is
for
consensus
and
that
map's
over
well
to
the
block,
rewards
right
or
the
senior
age
and
Y
is
the
amount
of
compute
being
spent
on
transaction
fees
and
that
maps
over
well?
A
A
C
A
A
Range
is
fine,
I
think
a
range
is
fine,
and
businesses
just
need
to
forecast
at
a
you
know,
annual
level
right,
so
they
need
to
have
a
range
that
they
need.
So
as
long
as
you
give
them
a
top
level
and
it's
not
like
3
or
4
X
right.
If
it's
a
ranger
than
15
to
20%,
businesses
can
absolutely
budget
for
that
yeah
and
once
we
have
sharding
in
place
and
eventually
those
prices
will
actually
go
down
and
real
stabilizing.
D
A
It's
not
a
trick,
it's
not
a
traditional
problem
because
you
can
scale
out
right.
That's
that's
the
scaling
problem
you're
talking
about
there
right
yeah.
What
you
want
is
an
awesome
system
that
can
scale
out
so
then
you
can
meet
demand
problem
with
blockchain
today.
Is
it
doesn't
scale
out
so
it
can't
meet
demand,
and
so
then
prices
just
go
up
in
a
you
know
and
true,
and
it
was
true
market
conditions.
A
The
prices
will
just
go
up
as
demand
goes
up
and
then
it
Peters
off
right,
but
that's
the
real
adoption
and
scaling
problem
for
blockchain
terrific.
Well,
this
is
great.
You
know
for
you,
folks
that
listened
all
the
way
to
the
end
of
the
call.
You
can
always
ping
me
on
telegram.
You
can
also
tell
you
know
huddle
shark
Joe
what
you
want
it
wants
to
talk
about,
so
we're
always
open
to
hearing
feedback.