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Bootstrap procedure

Once the genesis balance allocation is determined and the genesis block is launched. The following will be the actual bootstrap procedure.

Note that because the procedure relies on Neatcoin's on-chain democracy, the actual process is likely to take up weeks.

Procedure#

Start the genesis block#

The genesis block will contain all the genesis balance allocations, together with 3-6 PoA validator keys so that it can generate blocks.

Transition to PoS#

The first referendum we do then is to transition to PoS. Validators will signal their intention on-chain to vote, and nominators can vote for validators they like. A democracy referendum is expected to be submitted to do the actual switching. Because the referendum will have to go through three phrases each lasting around a week, the earliest possible date the transition to PoS will happen is 22 days after genesis block.

Setup technical committee and initial identity registrars#

The next referendum is likely to be about setting up the technical committee and the initial identity registrars. A proper technical committee is important for the blockchain to handle emergency situations, so we likely do it first before other DNS setups. The earliest possible date for this to complete will be 29 days after genesis block.

Input existing ICANN TLDs#

Neatcoin's DNS component, Nomo, works and combines existing TLDs, but put them to be on-chain governed. To handle the basics, we then put forward a democracy referendum to input existing ICANN TLDs on-chain. After this, the DNS resolver of Neatcoin will be able to handle normal queries. The earliest possible date for this to complete will be 36 days after genesis block.

Allocate a Neatcoin-specific TLD#

Neatcoin's initial runtime module contains a first-come-first-served on-chain domain registration module. We may want to utilize it for a Neatcoin-specific TLD. This will be done through a democracy referendum. The earliest possible date for this to complete will be 43 days after genesis block.

Relaunch#

There may also be fatal errors during the process, in which case a re-launch may have to happen. If this is the case, then it simply means Neatcoin's second era of re-genesis will happen much earlier than expected.