DAO - Aergo’s Decentralized Autonomous Organisation

Jae Nam
Jae Nam
Dec 4, 2019 · 2 min read

We’ve introduced a voting system which has been added to change the parameters of the Aergo blockchain. Previously, Aergo’s DAO could only change the number of Block Producer (BP) nodes through voting. With this new release, you can change additional parameters on a number of areas and each detailed below:

1. Number of BP Nodes

The DAO can flexibly increase or decrease the number of nodes connected when it wants an additional BP node or when it is determined that the number of available BPs is too small.

2. Minimum amount of AERGO to Stake

It was difficult to cope with AERGO’s fluctuating value with fixed values. This hardfork update enables a flexible fix.

3. Price of Gas

We’ll introduce more of this in our upcoming article, Fee 2.0. Nonetheless, it has been added to handle transaction processing fees flexibly.

4. Price of name service

Aergo contains a name service to translate addresses into easy to remember short names. Previously the service was fixed value of 1 AERGO, now it can be changed.

As with the existing BP nodes voting, staking accounts can vote as members of the DAO. The Aergo blockchain will aggregate the voting results through every block and will automatically change the parameters.

However, if the parameter is changed too frequently, it may not only cause confusion for users, but also threaten the stability of the blockchain. Thus, the parameter can be changed only when more than two thirds of DAO members agree.

Aergo blog

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Jae Nam

Written by

Jae Nam

Director of Business Development EMEA at Blocko

Aergo blog

Enterprise-ready, open-source hybrid blockchain and easy-to-use serverless cloud platform for building practical decentralized apps and business solutions.

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