All the stakeholders can propose blocks.
Problem: it does not scale:
Blocks are proposed only by small num of delegates.
Stakeholders can vote to select delegates.
Cons: Network get centralized: less secure.
All the stakeholders can propose blocks,
or they may delegate their rights to other miners.
“Protocol is owned not only by selected validators,
but by all the stakeholders.”
“How to fork (upgrade) protocols?”
A hard fork of a protocol may cause
a hard fork of the community.
Smooth evolution of blockchain protocol
without community hard fork.
Protocol upgrade is implemented in protocol itself,
and all the processes are recorded on chain:
Protocol defines how itself is to be upgraded.
“Protocol is owned not by developers but by stakeholders.”
Define the target of on chain governance:
90 day cycle of governance:
“Athens”: Tezos’s first protocol upgrade.
Just changes of few constant parameters.
“Babylon”: Improved consensus algorithm and others.