Jared,
It is good to hear that there are plans into the future to decentralize and work on growth. I do plan on sticking around to see that through. I do worry that other privacy focused crypto projects will get ahead in the meantime.
Incognito 2022: Technical Roadmap
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It’s also not necessarily a zero sum game with projects. Each have their strengths and weaknesses and lost people tend to be into a few projects within the same sector.
I.e. if you’re a fan of PRV, you probably also are a fan of XMR, ARRR etc.
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Hey, just want to add a couple of points to this conversation and expand a little on the design decisions for early 2022.
As @Mike_Wagner pointed out, increasing committee size or releasing slots produces the same effect percentage-wise; the core team no longer has majority say and consensus is shared with the community. So to start, I thought it might be helpful to discuss why we decided to increase committee size instead of release fixed slots (for this initial stage).
Rewards for community nodes : It’s fairly evident that either way, since block rewards do not change, fixed nodes will earn less and community nodes will earn more. However, how community nodes earn in practice would be different.
If, let’s say, we wanted to reduce fixed node dominance from 66% to 45%, there are 2 ways we could achieve that:
- Reduce fixed slots from 22 to 15, so there will be 7 more slots for community validators.
- Increase committee size to 48, so there will be 16 more slots for community validators.
We felt the second was a better option at this time, in terms of decentralization as well as validator incentives, and lays important groundwork.
Decentralization Q1 & 2 : As explained in the original topic, the core team will no longer hold 2/3 slots of a committee, and created blocks will be the result of agreement between fixed nodes and community nodes. Here’s more design context:
When the 22 fixed nodes don’t hold 2/3 slots in a committee, they play a role as block proposers. They propose blocks and community nodes validate. This reduces the need for a large number of fixed nodes to guarantee fault tolerance for the block proposing process, and block validation duties can be released to the community.
This allows us to continually reduce the fixed slots to smaller and smaller numbers.
Decentralization medium term : As explained above, I’d like to confirm that the plan, as @jared mentioned, is to continue whittling down the number of fixed nodes, while continuing – with the rest of the industry – to develop and research how best to set the network up for long term success.
Re our design choices, there are a number of similar proposals going around at the moment – see https://vitalik.ca/general/2021/12/06/endgame.html for a particularly detailed analysis of this approach. In the interests of full transparency - assuming the current design does not change, fixed nodes are likely to continue to exist, albeit in very small numbers.
Decentralization longer-term: I want to stress here that we (and everyone else) are continually trying to find better solutions that we may not previously have thought of, so things will continually evolve – we hope, always for the better. If the community at any point has any concerns about how things are going (or interesting ideas and solutions), please open a dialogue like this one. It’s a difficult problem to solve, so the more minds and viewpoints the better.
Thanks everyone.
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Hey, I just wanted to recommed everybody on the great work they are doing and I still can’t believe my eyes that the Web wallet is scheduled for March, can’t wait to use it.
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Privacy intigration into Secret Network, seems logical but finding and utilising strengths of both Secret and Incognito makes a lot of sense to me.
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How did you come to this conclusion? If we’re comparing releasing slots or increasing committee size, I come to this:
From a decentralization (and security) point of view, it all comes down to fixed node dominance, reducing fixed slots or increasing committee size is virtually the same thing.
From an incentive point of view, increasing committee size decreases the block reward per node but increases the frequency. This means that you are in committee more often but the reward stays the same, to a higher CPU cost.
Which leaves “important groundwork”. Can you share what that is?
What is a “block proposer”? Do these nodes operate in a unique way that cannot be filled by community-driven full nodes or validators?
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100% support these awesome suggestions by @SPAddict25
For information purposes…
Wownero is a very interesting project. They are a privacy meme coin, but don’t let that deter you as the team behind this project have PRIVACY at it’s core. Here is the official site - https://wownero.org/ to learn more.
In summary, they are a Proof-Of-Work, ASIC resistant, solo-mining only coin that was fairly mined (no pre-mining by the founders). Their approach is very unique and it should be noted that WOWnero’s code based was a fork of Monero.
@Jared - Can you please inform the Core Dev team that I can connect them with one of the lead developer at Wownero to fast track a bridge. They would be very interested to collaborate with the incognito team. Thanks.
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Would folks consider Terra network’s UST a non-siezable stablecoin pegged to the US dollar ?
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Hey @SPAddict25, I have given this some thought and I do feel there is an important point to Private NFTs and a Private NFT marketplace.
For example, let’s say I own a Beeple peice of art or super rare BAYC (full disclosure I do not) and I want to be able to sell it. I need to be able to prove I own it, however I do not want to reveal my real identity nor do I want to have my wallet address exposed so that the whole world can see all the other artworks in my wallet.
FYI, here’s Snoop Dogg’s NFT wallet (not sure if he initially wanted everyone knowing what he holds, but now everyone can see) - https://opensea.io/Cozomo_de_Medici
This is why I think Privacy NFTs are important. Perhaps Incognito core team have some plan’s around this and leverage the vNodes for storage (like what the Node Tree was planning to do around decentralised private storage).
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When you put it like that I get it. I suppose it realistically comes down to, we value privacy for our assets generally, why wouldn’t it apply to NFTs.
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FYI @Jared I’d happily stake an initial liquidity pool value of $20k consisting of wownero/prv if it helps get it onboard.
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I think there should be a whole thread on this topic alone.
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I too would be happy to provide liquidity!
If a bridge was created, I would be very vocal on the Wownero community forums to help promote Incognito.
Also Wownero just launched WOWneroX (WOWX) on the Avalanche Network.
There was very good uptake and this shows that Wownero folks have an appetite in earning yield on their bags of WOW and hence I think there would be quite a bit of interest in incognito’s Provide feature to earn yield on WOW.
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Didn’t have a chance to check Wownero out yet, so just a quick question @Linnovations, do they have WOWX on Ethereum (ERC20) or BSC (BEP20)?
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@duc WOWX is a ERC-20 token but it’s not the same as WOW. I’d be keen for WOW to be housed in the incognito app and setup a LP and be able to trade it.
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Hey @duc, I agree with @SPAddict25
What we ideally want to do is have support within Incognito for the native WOWnero (WOW) blockchain NOT WowneroX.
The reason I brought up WOWX is let you know that there is strong interest within the Wownero community to stake WOW to earn yield, that’s all. I hope that makes sense.
Please let me know if there is interest and to whom on the Incognito team I should introduce to my Dev contact on the Wownero project as I’d like to help try to help kickstart some dialogue between these two amazing projects.
Hey @Jared, feel free to spin this off on to it’s own thread if you feel it’s off topic as it’s to do with building a Wownero - Incognito bridge, thanks.
Hey @duc (and others that may be interested), here’s a concise summary of Wownero
Except from the homepage - https://wownero.org
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My favourite is the whitepaper and roadmap 
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hi @fredlee, thanks for these questions and sorry this took so long.
i’ve created quite a long winded topic here that hopefully addresses your questions: https://we.incognito.org/t/benefits-of-increasing-committee-size-and-answers-to-faq/15678
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Has anyone from the dev team heard of HOPR? Looks like it could provide privacy for meta data at the transport level, meaning between Incognito and the next node. https://hoprnet.org/