Tezos: in favor of Baking Accounts

  1. proposal period where bakers upvote to select the best proposal
  2. testing period where bakers vote to evaluate the specific proposal selected at phase 1
  3. promotion period where bakers vote to migrate the blockchain to the new protocol

What are baking accounts

Bakers have always been identified by the public key hash of the account where they store their bond (starting with tz). If bakers want to change this key for any reason, they lose all their delegators and have to broadcast the new key to them and get them to delegate to their new key.

Upvote baking accounts

Protocol 009-PsFLorBA contains baking accounts, and protocol 009-PsFloren does not. The community has until March 14th, 2021 to upvote their proposal of choice.

  • separation of keys makes it theoretically possible to assign different permissions to each key, for example making the consensus key non-spendable. This has implications at the individual baker’s level and at a network-wide level. In Florence, this has not been done, and both baking key and consensus key have the same permissions, preserving the status quo and all its implications in terms of network security,
  • separation of keys make it also conceptually possible to add arbitrary computation into the baking process (a.k.a. stateful baking accounts). This also is not allowed in Florence with the exception of the multisig ability. In particular, the ratio of self-bond vs delegated amount remains at 1/8, so this proposal does not change the equilibrium between bakers and their delegators.

How to upvote

UPDATE: this blog post from Nomadic Labs explains why the current baking account proposal is flawed and should not be upvoted as-is.

tezos-client submit proposals for <delegate> PsFLorBArSaXjuy9oP76Qv1v2FRYnUs7TFtteK5GkRBC24JvbdE
tezos-client submit proposals for <delegate> PsFLorenaUUuikDWvMDr6fGBRG8kt3e3D3fHoXK1j1BFRxeSH4i

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