Protocol parameters
Protocol parameters on Cardano are the various settings that define the blockchain's behavior.
Let's delve into the protocol parameters using the Cardano CLI. Note that this time, we will be using the mainnet, as testnet environments may have different parameter values. Additionally, it's important to mention that the output is simplified as the cost models are collapsed.
The CLI retrieves the protocol parameters from the ledger state. This implies that these parameters are currently active, along with their corresponding values. Please note that any parameters set to null have been deprecated.
Protocol parameters can be updated via an update proposal.
Alongside protocol parameters, there are global constants. Unlike protocol parameters, global constants can only be updated through a software update, which always involves incrementing the protocol version. An increase in the major version indicates a hard fork, while the minor version represents a soft fork, allowing old software to validate but not produce new blocks.
Below you will find a description of the protocol parameters and global constants:
NetworkId
Determines the expected network (mainnet or testnet)
mainnet
MaxLovelaceSupply
The total number of lovelace in the system
45000000000000000
SlotsPerEpoch
The number of slots in an epoch
432000
k
The security parameter, which defines the number of blocks required for the blockchain to be considered final, preventing any further rollback (ie, the maximum allowable length of any chain fork)
2160
ActiveSlotCoeff
The fraction of slots, denoted as 'f' in the Praos paper, represents the average proportion of slots that a block will contain
0.05
slotLength
The length of each slot (in seconds)
1
txFeeFixed
Base transaction fee (in lovelace)
155381
txFeePerByte
Additional transaction fee per byte of data (in lovelace)
44
maxTxSize
Maximum transaction size in bytes
16384
maxBlockBodySize
Maximum block size in bytes
90112
maxBlockHeaderSize
Maximum block header size in bytes
1100
maxValueSize
The maximum serialized length (in bytes) of a multi-asset value (token bundle) in a transaction output
5000
Quorum
The number of the Genesis delegate keys that must endorse an update proposal
5
protocolVersion major minor
Current protocol version
7.0
MaxMajorPV
If the major component of the protocol version is larger than MaxMajorPV, there is an
ObsoleteNode failure
Halts below 7.0 nodes
StabilityWindow
The number of slots needed for a block to become stable, defined as 3k/f
3k/f
stakeAddressDeposit
Deposit amount in lovelace required to register stake credential
2000000
stakePoolDeposit
Deposit amount in lovelace required to register a stake pool
500000000
stakePoolTargetNum
The optimal number of saturated stake pools. Impacts saturation threshold, encouraging growth in the number of stake pools
500
decentralization
Controls how many slots are governed by the genesis nodes via OBFT and which slots are open to any registered stake pool
Deprecated
Shelley - Alonzo: [0-1]
Babbage: Null
SlotsPerKESPeriod
Defines after how many slots a pool's operational key pair evolves (key evolving signatures)
129600
MaxKESEvolutions
The maximum number of times a KES key pair can evolve before a new KES key pair is generated from the master keys
62
poolRetireMaxEpoch
Maximum number of epochs within which a pool can be announced to retire, starting from the next epoch
18
minPoolCost
Minimum pool cost per epoch (in lovelace), which enables pledge effect
340000000
minUTxOValue
The minimum ada value that a transaction output must hold (during the Shelley era)
Deprecated
utxoCostPerWord
During the Mary, Allegra, and Alonzo eras, this parameter determined the minimum ada value required for a transaction output to support native assets (in the Mary and Allegra eras) and datum hashes (in the Alonzo era)
Deprecated
utxoCostPerByte
In the Babbage era, transaction outputs are required to contain at least
(160 +
serialized_output
treasuryCut
Proportion of the reward pot that will move to the treasury at each rewards distribution
0.2
monetaryExpansion
Every epoch, the total amount of ada in circulation is increased by monetaryExpanision % of the ada reserves and is moved to the rewards pot
3.0e-3 (.003)
poolPledgeInfluence
Determines stake pool owner-stake influence on pool rewards
0.3
costModels PlutusV1 PlutusV2
Every phase-2 scripting language converts the calculated execution cost into a number of
ExUnits using a cost model, which depends on the language
PV1 PV2
executionUnitPrices priceMemory priceSteps
Prices consist of two rational numbers that correspond to the components
of ExUnits: the price per unit of memory and price per reduction step
priceMemory: 5.77e-2
(.0577) priceSteps: 7.21e-5 (.0000721)
maxBlockExecutionUnits memory steps
Maximum ExUnits allowed in a block
memory: 62000000 steps: 40000000000
collateralPercentage
The percentage of the total transaction fee,
its collateral must (at minimum) cover
150
maxCollateralInputs
Limits the total number of collateral inputs, and thus the total number of additional
signatures that must be checked during validation
3
extraPraosEntropy
This provides additional certainty that the blockchain has not been compromised by the seed key holders. Redundant once the system is sufficiently decentralized
Depracated
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