Definition ∞ Fixed parameters are unchangeable or predetermined settings within a blockchain protocol, smart contract, or digital asset system that are set at its beginning and cannot be modified without a significant protocol upgrade. These parameters govern fundamental aspects such as supply limits, block rewards, transaction fees, or consensus rules. They ensure predictable operation and security for the underlying system.
Context ∞ News discussions about fixed parameters often arise when evaluating the immutability and long-term economic policies of various digital assets. The debate frequently concerns the trade-offs between a system’s predictability and its adaptability to unforeseen circumstances or technological advancements. Observing how decentralized governance mechanisms interact with or propose alterations to such parameters will provide valuable insight.
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