Interesting discussion started by @Fabian_vBergen:
forum.cardano.org/t/lets-have-a-…
Would love to hear some thoughts about this. I don't have a clear opinion on it atm.
I’m not concerned by IOG holding the majority of keys, because they are actively funding the development of Cardano. If they signing keys where going to stay at 7 this would be a problem for future governance, but with an increase in signing keys, i see a path to Voltaire.
You need 5 out of 7 keys to execute a transaction from the treasury
Currently, the keys belonging to CF are delegated to IOG
Giving IOG the "de facto" control over the treasury
The long-term goal is to fully decentralize this process
Where funds are under community control
Today on #NerdOut: How to Kill #Cardano.
youtu.be/JkkPhFgzSJI
@IOHK_Charles @_KtorZ_
It's that first point that really interests me. My concern with the existing network is if someone finds an attack vector on the network propogation. It's interesting that you pull that out as top of the list. With the P2P solution around the corner, I hope it has that resiliency
So question: when would we want to implement this? Is this something we want to implement upon the completion of Voltaire or as part of its main components? Lastly, are we going to allow IOG to finish the vision of the original road map?
Rumour has it that it’s also the IOG funds given that they are no longer really staking them to small pools 🤷♀️
I’m not sure if anyone has tracked the funds but it shouldn’t be too hard to find out where they are parked now.
Does anybody know what's the power of the 7 governance keys? Can the US government force IOG to shut down the network or censor transactions? #Cardano
@cardano_whale @amw7 @Reddspark1 @matiwinnetou @Soorajksaju2 @CardanoHumpback @ArmySpies
Good question, @amw7 had video on it. They cannot shit it down but if forced they could mess it up.
Keys should go back to @CardanoStiftung and we should fight for it as a community.
I am gutted, this issue is quiet just like Cardano treasury custody.
Just to clarify, my first video on this topic had some misunderstandings that I issued corrections on in later videos. There are 7 genesis keys. These keys can delegate their power. Currently IOG holds 3 genesis keys and 2 keys delegated from @CardanoStiftung.
answer is no:
transaction are not validated by those 7 keys. Those are the keys for protocol upgrade, it would mean an upgrade is forced which equals to destroy the protocol. However, being open source, SPOs are decentralized enough to build their own fork. Cardano is forever.
As you saw with the recent Vasil testnet bug 1.35.2 discovery, SPOs can voluntarily reject to upgrade and then any forceful action against Cardano will just fail.
Plus, Cardano Foundation is Switzerland based, so US can't touch it.
As far as I know, IOG no longer controls majority. The CF keys are delegates back to the CF team
Decentralisation but just not on #Cardano with ONE @InputOutputHK holding all the POWER
