Cosmos Hub 3 is officially launched and empowers investors
By Inkarias - 2019-12-19
This version is the first major Cosmos Hub upgrade since launching in March 2019. Some important new features will be enabled and more particularly some powerful governance mechanism functionality for the community. As the number of users constantly increase, the team has decided to have some new validator operators, possibly up to 25 more maximum. Prior to the Cosmos Hub 3, a governance proposal could only be used as a signaling mechanism. It means that any passed proposals did not automatically trigger a change to the Hub, but rather, legitimized changes that needed to be enacted by protocol developers. These changes then needed to be released as new software and run by participating validators. This process is also more commonly known as a hard fork.
A control of parameters
Cosmos Hub 3 enables voters to have the power to change how the Hub works at a fundamental level without a hard fork. It’s important to know that multiple parameter changes may happen from one single proposal. The list of possibilities includes but isn’t limited to (other examples can be found on the official sources):
- Inflation control: If a governance proposal proposed to change the minimum inflation (InflationMin) from 7% to 9% passed, both the inflation rate of the Hub and the rewards rate would instantly change once the voting period ended.
- GoalBonded (current set at 67%), which determines whether inflation increases or decreases based on a target staking participation rate.
- SlashFractionDowntime (actually 0.01%), which determines the portion of a validator’s stake-backing that gets slashed for being offline beyond a certain number of blocks (for more information about slashing, you can check our article here