IISS 3.1 Model for ICON2

Hello everyone,

We are excited to share our plans for IISS 3.1 as migration becomes closer. While this will be the default settings for ICON 2.0, we want this to be the start of a discussion, this is not a final version. P-Reps can vote to change post-launch without a problem.

We tried to find the good balance for the staker and for P-Reps. The community and P-Reps ultimately decides how the model will be balanced through network proposal, so please share your feedback so we can better understand the community concerns around this new model.

Please find it here (view only) IISS 3.1 Model (Public) - Google Sheets

Thank you very much.

Ref: IISS 3.1 Structure

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It looks great to me!

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ICON 2.0 is a very important milestone for the entire ICON ecosystem, a very big endeavour that should be approached with steps to minimize potential obstacles.

We have 145 P-Reps currently, how many are we going to realistically have after 2.0?. Currently we technically only need the top 22 to run the chain since the sub-Preps don’t create blocks and the 45 P-rep candidates outside the top 100 don’t even gain rewards, but i’m truly wondering how many nodes are being projected to do this upgrade.

I’m wondering this because the documents shows $750 as the cost to run the node but so far no specific spec has been published in terms of what is going to be needed to run 2.0 and no real world cost equivalent is being shown as an example, at this point in the game to me this is a very important data to have on hand.

To summarize I would like to see a more detailed data backing some of the values shown here, specially when it comes to the specs needed and comparing this to well known hosting providers like AWS

I know that specs have been discussed in the telegram channels but so far I havent found one definitive source for a detailed spec needed. I truly believe we need this data before going forward deciding how the inflation is going to be distributed

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I’m not sure what kind of data you need so please let us know.

We are still running some tests but if you use Amazon AWS, we recommend the following (or equivalent) for running a main P-Rep node. You can scale down a bit if you are sub (remember that you will get slashed if you become main and can’t keep up though).

  • c5.4xlarge instance (2TB SSD, gp3, 3000 IOPS, 125MBps). The monthly cost is around ~$650/months.

From here, it’s up to you to figure out how to maximize your profitability. P-Reps gets rewards in exchange for securing the network. This means that it’s also P-Reps role to figure out which model settings are the best for the network (and for them) and how to produce blocks at the cheapest price possible.

The proposed model only shows the default values at activation. P-Reps can change them anytime through governance.

thanks for the reply nym.

what I said about data (specs) is basically what you have shared right now, again, I know these specs have been discussed so far in the telegram channels but I think that this info should be updated in the icondev.io website and have it openly and easily available for all P-Reps.

Currently the page is showing ICON 1.0 hardware requirements

I understand that tests are still being run but I feel a sense of urgency (maybe im wrong) and the 2.0 update feels like is just around the corner, this info should be placed in the docs along with other things like a tutorial on how to do the update, create a fresh 2.0 node, how to link the current Prep data to the new 2.0 blockchain, things like that, that honestly im sure many already know but it will be very valuable info for the ones with less technical knowledge that still want to participate as preps and be part of the community that way.

again thanks for the reply I know the focus right now is on testing but I feel things like this can help make the transition more easy and with less friction

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Yes, do not worry. We are building those documentation right now. Specific instructions are being written for node operators as well. That’s what I mean by “testing”. We will give P-Reps some time to digest it and get ready.

Also, we will monitor and accompany the network migration in real time in telegram with P-Reps.