In today's digital era, the rapid development of blockchain technology provides us with a new governance model. The Ice Network team is committed to leveraging the decentralized nature of blockchain to build a fair and democratic platform to allow more people to participate in the decision-making process. This article will delve into the governance mechanism of the Ice network, the role of validators, and the importance of community participation.
Decentralized community governance
The core philosophy of the Ice Network is to build an ecosystem that is not controlled by a single entity or individual. Through decentralization, the team hopes to create a more transparent, secure and censorship-resistant system that promotes community participation and inclusivity. Historically, governance systems have always been the focus of people's attention, and the direct democracy model of Athens in ancient Greece has provided us with valuable experience. Although representative democracy is common in modern societies, it is not perfect and is often at risk of abuse and manipulation.
Through decentralized governance, the Ice Network aims to safeguard the wishes of the majority of users and ensure that every community member can have a voice in governance. Such a governance model can not only enhance the resilience of the network, but also improve transparency and lay the foundation for future development.
The role of the verifier
Validators play a vital role in the management and operation of the Ice network. They are responsible for submitting new blocks to the blockchain, validating transactions and ensuring the integrity of the network. In addition, validators also need to maintain network security by staking a certain amount of Ice coins to prove their commitment to the network and prevent malicious behavior from occurring.
Validators not only participate in the decision-making process, but also vote on proposals in various aspects of the network. Validators will face punishment if they violate network rules, such as slashing their stakes. A validator’s power is based on a percentage of the total investment coins delegated to them, meaning community member participation directly affects a validator’s power.
Electing and re-electing validators
The Ice Network’s validator election and re-election process is designed to ensure the security and decentralization of the network while promoting inclusivity and diversity. At the initial launch of the mainnet, the Ice network will have up to 350 validators, with the goal of increasing this number to 1,000 over the next five years. Through such a mechanism, the Ice network ensures the representativeness and responsibility of validators.
At the launch of the mainnet, the top 300 miners and creators of the Ice network will be automatically elected as validators. In addition, the Ice network team will select 100 validators from 1,000 validators to ensure that they make positive contributions to the community. All validators must submit semi-annual activity reports to demonstrate their involvement in the network and future plans, ensuring that they remain committed to the development of the network.
governance in action
The governance of the Ice network is a collaborative process involving validators and the community. Validators are responsible for debating and voting on upcoming proposals, which may involve changes in commission rates, updates to the network protocol, and allocation of funds for new projects. In this way, the Ice Network is able to ensure transparency and democracy in its governance process.
Any dApp can run on the Ice network, but validators have the right to vote on funding proposals for these dApps. This mechanism not only promotes innovation in the network, but also ensures that new projects are consistent with Ice Network's values and goals.
Distributing voting rights in the Ice network
The Ice Network's governance model is significantly different from other networks in that users are encouraged to choose multiple validators. Users need to select at least three validators to avoid power being concentrated in the hands of a few large validators. This design aims to create a more equitable and democratic governance model.
In addition, users can also choose to have the Ice network automatically assign verifiers to them, simplifying the participation process. Such a mechanism solves the problem of a small number of validators controlling a large number of voting rights in other networks and ensures a balanced and inclusive governance process.
The importance of community involvement
Community participation is an important aspect of the Ice network governance process. The decentralization of the network relies on the active participation of all types of individuals and groups. By promoting community participation, Ice Network hopes to establish a transparent and democratic management model to meet the needs of different stakeholders.
Effective community participation requires open communication channels, feedback mechanisms and collaboration platforms. The Ice Network team is committed to fostering a culture of engagement and collaboration, encouraging all members to actively participate in the governance process. Whether through direct voting, delegating validators, or participating in discussions, every member of the community has the opportunity to shape the future of the network.
Validator fee
In the Ice network, validators are responsible for voting to adjust commissions from block fees or staking revenue earned by delegated users. The starting rate of commission is 10%, which can fluctuate between 5% and 15%. Adjusting validator fees through voting ensures that validators are fairly compensated for their work while taking into account the interests of all stakeholders.
Summarize
The Ice Network's governance model is designed to promote decentralization, community participation, and inclusivity. By encouraging multiple validator selections, the Ice Network can distribute voting power more evenly and avoid the concentration of power in the hands of a few. At the same time, the Internet also cultivates a culture of participation and collaboration within the community, encouraging every member to participate in governance through various methods.
Overall, the Ice Network’s governance model ensures network security and decentralization, and promotes community participation and inclusivity. The transparent, secure, and censorship-resistant system established in this way makes the Ice network a fairer and more democratic ecosystem.