Flow employs a robust process for executing protocol-level changes, requiring the collective agreement of multiple parties to sign and authorize transactions that trigger key event such as modification of protocol-level parameters. This is commonly referred to as the “multi-sig process”.
Notably, the multi-sig process on Flow is associated with two principal accounts that oversee critical aspects of the Flow protocol: the service account, responsible for actions related to protocol parameters, and the staking account, which holds resources linked to staked nodes within the network. These accounts are collectively overseen by multiple signatories - representatives from the Flow ecosystem - who participate in meetings where transactions are simultaneously authorized (or rejected) and submitted only if there’s quorum.
At present, representatives from Animoca, Blocto, Flow Foundation, Find, FlowScan, Ichi.org, etc. collectively hold multi-sig authority over the service account. Each signer is allocated a weight of 250 units, and to validate a transaction, a cumulative total of 1000 units is necessary. Therefore, a minimum of four signers must jointly provide their signatures to authorize the transaction. The transactions deliberated by these signatories may be related to minting tokens, setting fees, slashing rewards, updating network-level contracts, etc; see account page for more details on the powers and abilities of the Flow service account.
- Git
- Flow CLI
- Google Cloud SDK
We will be using this Git repository as a means to pass transaction files back and forth, so you will need to clone it on your local machine.
If you do not have Git configured to authenticate with GitHub, Github Desktop is likely the easiest way to get started
To ensure that it's properly installed, please git pull the main branch of this repository.
If you have homebrew:
brew install flow-cliOtherwise, you'll have to follow the instructions here
To ensure it's properlly installed, please run the following:
flow versionThis should show you the latest version of the Flow CLI. The current flow.json and flow-staking.json require v0.37.0+. The latest version can be downloaded from here. However, if you require an older version for Flow CLI, the previous versions of flow.json and flow-staking.json are available via the commit e21ab1a via
git checkout e21ab1a -- flow.json flow-staking.json
If you have homebrew:
brew install --cask google-cloud-sdkOtherwise, you'll have to follow the instructions here
To ensure it's properlly installed, please run the following:
gcloud auth application-default loginThis should pop up a tab in your browser asking you to authorize the SDK. If you're able to, then you're all set!