Anticipated voting time: 2023.07.10
In this proposal, we suggest managing the on-chain parameters related to Binance Smart Chain through the governance proposal mechanism.
BTTC is a decentralized blockchain network that aims to provide an efficient, low-cost cross-chain service. Currently, BTTC supports cross-chain services for 3 public chains, including Tron, ETH and BSC. Under the current on-chain parameter setting management model, changes related to BSC parameters are managed by the core development team. Although they have always operated with the intention of maximizing the long-term stable operation of the network and the interests of users, this model inevitably raises concerns that the parameter setting process is too centralized and not transparent enough.
We propose to introduce governance proposals and community voting mechanisms to allow more BTTC holders and developer communities to participate in the discussion and decision-making of on-chain parameters. By proposing governance proposals on BSC, clarify the reasons, scope and values for parameter adjustments, and vote by BTTC holders. This will make the on-chain parameter setting changes related to the operation of the blockchain network more transparent, open and decentralized. Gradually handing over the decision-making power of on-chain parameter settings to the BTTC community is also an inevitable stage for the blockchain network to evolve into a truly decentralized network. We believe that this will not only enhance the decentralization and health of the BTTC network, but also benefit the long-term development of the BTTC community.
BTTC itself supports the proposal mechanism, and recently supports a more universal on-chain parameter management function in v1.0.5. Therefore, the original BSC parameters managed by the core developer contract can be migrated to the proposal mechanism through this function.
Specifically, in the latest v1.0.5 version, BTTC added a universal on-chain parameter management data structure that supports multiple chains in the on-chain parameter management module. Under this data structure, the chain-specific parameters of each chain, including the parameter name, description, value range, etc., can be added.
With the upgrade of this version, the BSC parameters that were originally managed by the core developer contract can now be directly added under the universal data structure of the on-chain parameter management module. When a proposal to adjust these BSC parameters is initiated and approved in the future, the parameters in the data structure will be modified accordingly.
In this way, the management of BSC parameters will be migrated from the original core developer contract to the proposal mechanism. The proposals and voting of the BTTC community will become the main approach to managing and changing BSC parameters.
If you have any questions about this proposal, please feel free to comment and discuss.