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Rebecca Liao: Saga – Bootstrapping Chainlets in the Multiverse

Epicenter - Learn about Crypto, Blockchain, Ethereum, Bitcoin and Distributed Technologies

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The Musical Chairs Auction Mechanism

Every epic, validators enter into this Musical Chairs auction and they post their price for what they will accept to secure a chainlet. Now, the lowest set of prices is going to win that auction. If you bid higher than the winning set, then you are out of that active set of validators for that particular epic. And yes, the whole point of this mechanism is to get that price down as much as possible. They need to know exactly what they're going to be paying for each particular ethic for keeping a chainlet alive. But they also, I mean, obviously, everyone wants a lower price in that case.

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