The Ice network team aims to utilize decentralization, a core characteristic of blockchain technology, in order to establish an ecosystem that grants a larger number of individuals the power to make decisions and have a voice in the governance of the system.
The objective was to create a platform that is more equitable and democratic, one that is not controlled by a single entity or group of individuals.
By leveraging decentralization, the team sought to create a system that is more transparent, secure, and resistant to censorship, while also promoting decentralization, community participation, and inclusivity.
The systems of governance have been a significant concern for people throughout history. If we examine the Ancient Greek model of Athenian democracy in the 5th century B.C., we see a system of direct democracy where community members directly participated in the decision-making process by debating and voting on laws.
As city-states evolved into larger states with larger populations, direct democracy was replaced by representative democracy, which is the most commonly used system today.
While this system is not perfect and can sometimes be abused or manipulated, it is still the best option for upholding the will of the majority.
The Role of Validators
Validators play a crucial role in the governance and operation of the Ice network. They are responsible for:
- Committing new blocks to the blockchain: Validators validate transactions and add them to the blockchain in the form of new blocks, ensuring the integrity of the network.
- Maintaining the security of the network: Validators stake a certain amount of Ice coins as collateral to demonstrate their commitment to the network and to deter malicious behavior.
- Participating in the decision-making process: Validators are able to propose and vote on proposals to change various aspects of the network. They are also subject to penalties, such as slashing of their staked Ice, if they violate the rules of the network, such as double signing or proposing illegitimate blocks.
Overall, validators play a vital role in the security and decentralization of the Ice network, as well as in the decision-making process that shapes the direction of the network.
The power of a validator is based on the percentage of the total staked coins that are delegated to them. More than that, even if a user has already delegated their staked coins to a validator, they still have the option to cast their own vote directly on specific decisions. This can lead to the validator’s power being reduced based on the number of staked coins the delegate holds.
Electing and Reelecting Validators
The process for electing and reelecting validators in the Ice network is designed to ensure the security and decentralization of the network while also promoting inclusivity and diversity.
Initially, at the mainnet launch, the Ice network will have up to 350 validators, with the goal of increasing this number to 1000 within the next five years. During this time, the Ice network team will be able to select 100 additional validators from the pool of 1000 based on their projects’ potential to contribute value to the community and provide utility to the Ice coin through dApps, protocols, or services they develop on the Ice network.
At the mainnet launch, the top 300 miners from Phase 1 and the creator of the Ice network will be automatically elected as validators. In addition, some of the 100 validators presented above will be handpicked by the Ice network team at mainnet.
The 100 validators handpicked by the Ice network team hold a distinctive position within the network. While their selection and potential replacement predominantly rest with the team, there’s an essential safeguard in place. If any of these validators are perceived to be detrimental to the network in any capacity, the community possesses the power to initiate a vote for their removal.
Furthermore, all validators, irrespective of their mode of selection, are mandated to submit a biannual activity report. This report should detail their contributions, engagements, and future plans for the network. This mechanism ensures their active engagement in both the governance and operational facets of the network, ensuring that validators remain proactive and committed to the network’s growth and well-being.
Existing validators must be reelected after two years to ensure that they are still actively participating in the governance and operation of the network. Validators who are not reelected will be automatically removed from the validators list, while their delegates will have to choose another validator to delegate their votes to. None of the validator’s or community coins will be lost through this process.
The goal of this process is to ensure that the validators representing the community are accountable and actively contributing to the network. It also allows for new validators with different perspectives and expertise to be elected, promoting a diverse and inclusive governance process.
Governance in Action
In the Ice network, governance is a collaborative process that involves the participation of validators and the community. Validators are responsible for debating and voting on proposals to be implemented on the network. These proposals can range from changes to the commission rates validators receive from block fees or stake income, to updates to the network’s protocols or infrastructure, to the allocation of funding for new projects such as dApps or services on the Ice network.
Any dApp is allowed to operate on the Ice network, but validators have the opportunity to vote on proposals for funding for these dApps. Validators would consider the potential benefits and risks of the dApp, as well as its alignment with the values and goals of the Ice network. If the proposal is approved by a majority of validators, the dApp would receive funding for its development.
Overall, the governance process in the Ice network is designed to increase the utility of Ice, ensure the security and decentralization of the network while also promoting community participation and inclusivity.
Distributing Voting Power in the Ice network
One of the key features that sets the Ice network’s governance model apart from other networks is the promotion of the selection of multiple validators by users. While other networks may allow users to select multiple validators, the Ice network actively encourages this approach by requiring users to select at least three validators. By distributing voting power more evenly and avoiding the concentration of power in the hands of a few large validators, the Ice network aims to create a more equitable and democratic governance model.
Users also have the option to let the Ice network automatically assign validators to them. This allows users to participate in the governance process without having to research and choose validators on their own.
This approach addresses a common issue in other networks, where a small number of validators can control a large percentage of the voting power and potentially wield significant influence over the direction of the network. By promoting the selection of multiple validators and giving users the option to let the Ice network handle validator selection, the Ice network aims to create a more balanced and inclusive governance model.
The Importance of Community Participation
Community participation is a vital aspect of the governance process in the Ice network. The decentralization of the network relies on the active participation and engagement of a diverse range of individuals and groups.
By promoting community involvement, the Ice network aims to create a more transparent and democratic governance model that is responsive to the needs and concerns of a wide range of stakeholders. This includes not just validators, but also users, developers, and other community members who may have valuable insights and perspectives to contribute.
Effective community participation requires open and inclusive communication channels, as well as mechanisms for feedback and collaboration. The Ice network team is committed to fostering a culture of engagement and collaboration within the community, and encourages all members to get involved in the governance process.
Whether through direct voting, delegating to validators, or participating in discussions and debates, every member of the Ice network community has the opportunity to shape the direction and development of the network. The more diverse and representative the community, the stronger and more resilient the network will be.
Validators in the Ice network are responsible for voting on proposals to adjust the commission they receive from block fees or stake income earned by delegating users. This commission is set at a starting rate of 10% and can fluctuate between 5% and 15%. It cannot be changed by more than 3 percentage points at any given time. When a commission change is approved by vote, it becomes mandatory for all validators to follow.
Validator fees serve as a way for validators to be compensated for their work in promoting the network, growing the adoption level, maintaining the security and stability of the Ice network. These fees are paid out of the block fees and stake income earned by delegating users, and are divided among all participating validators based on their stake and voting power.
By adjusting the validator fees through voting on proposals, validators can ensure that they are fairly compensated for their work and can continue to contribute to the growth and development of the Ice network. At the same time, the ability to adjust validator fees through a democratic process helps to ensure that the interests of all stakeholders, including users and validators, are taken into account.
The Ice network’s governance model is designed to promote decentralization, community participation, and inclusivity. Key features of this model include the promotion of multiple validator selection, which helps to distribute voting power more evenly and avoid the concentration of power in the hands of a few large validators. The Ice network also fosters a culture of engagement and collaboration within the community, encouraging all members to get involved in the governance process through direct voting, delegating to validators, or participating in discussions and debates.
Overall, the Ice network’s governance model ensures the security and decentralization of the network while also promoting community participation and inclusivity. This creates a transparent, secure, and resistant to censorship system that is more equitable and democratic.