Digital Democratic Republic
Problem statement,
A chain is only as decentralized as its validators.
Using delegated proof of stake, employs economics to solve this.
The problem is that open economies naturally lead to a 10%, who are really good at capitol allocation, owning over 85% of the value.
This does not lend itself well to decentralized governance.
Solution:
Step 1 — The Chain
Imagine a POS ZKP state machine, where the validators are blind to the state changes they are validating, and blind to who sent these transactions (using relayers).
Essentially making all transactions indistinguishable one from the other. The state machine is either on and processing transactions or off.
Step 2 — Governance
Imagine a wallet that lets you choose the validators you trust. Enabling you to seamlessly interact with any protocol that has enough of your trusted validators.
Going further, what if the users could select preferences for general chain governance. As to only use chains that follow from a set of preferred rule sets they are comfortable with.
Of course a wallet with good UX is crucial, providing users with a recommended trust setup which they can toggle. Perhaps big names in the space may have their trust setups copied with a one click ux while wallet prompts help with security.
Protocols & liquidity are incentivized towards chains with the most users. This translates a user’s trust threshold into a practical vote on governance.
Abstract summary:
A democratic republic for the digital world, this setup lets each person have a vote in governance. As for how we know what’s human and what isn’t. The onus is on the validators, protocols, and liquidity to figure out where the users are. For it is in their best interest to do so.
Technical summary:
Stake slashing, blind validation, reputational risk, and user side custom trust thresholds.