Babylon 2.0.1 (PsBabyM1)

I’ll open my hash commitment next week. For those of you who want to pre-commit to predictions about the content of my commitment, now’s a good time :slight_smile:

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Can you provide links to the quoted articles so we can do as you asked and read them?

I edited the post to contain links to relevant articles and video.

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If anyone’s interested, this opens the sha256 commitment:
you can verify by running https://pastebin.com/VWXHNGDN


TL;DR I’d go with A even though B has merit and nothing horrible will happen if B is picked.

I’ve been deliberately avoiding to weigh in on the topic of Babylon 2.0.1 because I think it’s important for the Tezos community to exercise its debating and governance muscles as much as possible. I am however pre-committing now to this short post so that it can be unsealed after a decision has been made.

The issue at hand boils down to a bug found in Babylon 2.0 during the testing period. The standard procedure in Tezos is to simply reject the proposal and, potentially, propose it again in the following phase. This has been dubbed “option A”. In addition, a non-standard approach was suggested, and has been referred to as “option B”. In option B, the Tezos shell is modified (requiring the coordination of all bakers) in a way that applies a hotfix to Babylon 2.0 should it pass the vote.

Before delving into my personal opinion on the matter, let’s get one thing out of the way: neither option spells doom or disaster. One option reinforces the stability of on-chain governance, the other saves valuable time at an important juncture of growing adoption. Reasonable people can weigh these pros and cons differently and reasonably disagree without being stupid or evil.

All things considered, I personally favor option A, despite B’s undeniable appeal.

The Babylon 2.0 proposal contains useful improvements to Michelson which change the way in which smart-contracts are developped. Introducing additional delays and uncertainty in the deployment of those changes can, in the short-run, negatively impact people building projects on Tezos. Option B has the merit of avoiding that delay with minimal disturbance to the on-chain governance process. For Babylon 2.0.1 to be activated under option B, it still requires a vote with an 80% supermajority. If that happens, it’s hard to make a serious argument that it fundamentally runs contrary to the will of the participants.

It is also the case that if the bug warranting Babylon 2.0.1 had been found after the activation of Babylon 2.0, it would have been patched with a shell update without raising any question as to the appropriateness of the procedure. It is a bit strange that catching the bug earlier rather than later can be, in a way, more problematic, but such is life.

So why favor A?

In a nutshell, I see A as a good memetic investment. The obvious short-term cost to A is the delaying of useful functionality, but the benefit is a long term strengthening of on-chain governance. I see the goal of on-chain governance as forming strong cultural norms and Schelling points around a decentralized process as opposed to a protocol set in stone. This adherence can only be demonstrated when adherence is costly when it represents a sacrifice. In the grand scheme of things that haved happened on blockchains, and smart contract platforms, in particular, this is not a particularly expensive sacrifice. There has to be a dose of irrationality in adherence to these norms for them to stick. B is the pragmatic choice, but I think we can get more mileage, in the long run, by picking A.

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Pastebin link is dead, more permanently, here’s how to verify the hash:

#!/bin/sh
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ZL/xdyRThQkLbswmsA==" | base64 -d | bunzip2`
echo "$message"
echo "$message" | sha256sum
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Could you update the link from pastebin.com?

My message above contains its content

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