Hello fellow cosmonauts, hope you’re all well!
My name is Arad and I’m new to the project. Up until now i’m just loving the community and the engagement.
I couldn’t help but wonder if I was the only one who wondered if the current governance model will ever need a change -
On the one hand, it is only fair for the voting to be weighted in relation to staked amount. But on the other hand, it might lead to certain entities easily holding most of the voting power.
Can you think of a scenraio that’ll require a change, and if so, how do you think the proposal and the change itself will take place?
One obvious answer is to have only accounts, not valoper accounts, vote on governance proposals. anoter one is something more crazy, like holographic consensus with oracles added as an extra gaming / economic layer to governance. Another one is quadratic voting to lower the weight of the big accounts. TBH, there are plenty of things to do, all come with pros and cons
To me, quadratic voting sounds it would be the best replacement.
Using the current governance model seems to work now, but as Cosmos keeps heading to its destination of being the internet of blockchain, the whales might have to much power.
I don’t think there’s even a doubt. In my eyes, there will definitely be a change in the future.
Does one offer this kind of change via the common proposal system or is it supposed to happen in a different manner?
I believe you would need a series of props. First signalling. Maybe several of them. Then someone needs to implement it and to propose to run the new code if the signalling is accepted
I know there are examples like Quadratic Voting instead of simple weighted averages, but what are the issues with changing the ratio of these weights?