I share these concerns and they’ve arisen frequently. It’s also good to examine them from a couple of different angles.
The first part of this reply seeks to do that. It contains 1) a survey of existing discussions around the concern, 2) the problem space, and 3) the path to a meaningful outcome (which in turn illustrates the problem space).
A survey of discussions
For anyone browsing here that wants a quick survey of past discussions about this:
- @lexa 's conditional basic income essay
- @ChorusOne-Research’s problem statement
- @pupmos 's proposed changes to the replicated security model
Problem Space
All of the above conversations propose different aspects or solutions of the problem, but in short it can be summed up as:
- cosmos Hub’s winning bet is to on-board as many high quality consumer chains as it can. The protocol has a long-term time preference (in the sense that it needs time to compete and capture market share + find PMF)
- validators face fixed-cost burdens for running consumer chains. Validators have a short-term time preference (in the sense that they need to immediately sustain their businesses)
the path to a meaningful outcome
In response to this, it’s worthwhile to note that:
- solutions (if one is needed) can be worked on in parallel to expanding the shared security umbrella of the Hub
- it’s very important that validators concerns are heard and accounted for, but this design space needs to be explored from the viewpoint of a variety of stakeholders in the system (the risk is that this can turn into a political situation. Coordination must be placed as the highest priority to mitigate this and find a meaningful path forward that accounts for everyone’s diverse and sometimes contradictory concerns)
- it’s important to the Hub and its attractiveness as a security provider to have a fertile and welcoming environment for consumer-chwin onboarding. This helps it capitalize on the early mover advantage it has a shared security provider in an increasingly competitive market space over similar offerings.
- Paradoxically, despite increased short-term costs, it will be better for validators in the long run if the Hub excels and gains market share. This may be correlated with the amount of consumer chains the Hub onboards, and the Hub can keep winners and off-board those chains that aren’t succeeding as more data rolls in.
Very happy to see this initiative and will continue the convo in there