The Checks and Balances of Bitcoin Governance
Although scalability (the block size limit) has been the main topic of conversation in the Bitcoin community over the past year, this controversy has also brought up another important subject for the peer-to-peer digital cash system: governance. Bitcoin Core Contributor Peter Todd is no fan of Bitcoin XT, but he does like the fact that Mike Hearn’s....
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Decentralized autonomous organizations would benefit from greater checks and balances that prevent influential minorities from seizing control. Over the past few years, decentralized autonomous organizations (DAOs) have introduced a clear paradigm shift in blockchain governance. With their community decision-making and adherence to hardcoded rules, they have challenged the role of hierarchy and central authority that are present in modern organizations, especially as it pertains to business. Ideologically, DAOs have a lot in common with democracies: individuals holding an amount of a DAO’s....
This inherent separation of power is all in accordance with Charles Hoskinson’s vision. The Cardano (ADA) ecosystem has a complex governance structure, not dissimilar from the way the U.S. democracy operates, with its built-in checks and balances. There are three main players: the Cardano Foundation, EMURGO and IOHK; according to the Foundation’s incoming CEO Frederik Gregaard, the governance will only get more complicated as more organizations join. He also said that he intends to maintain the Foundation’s independence from Cardano’s founder and IOHK CEO, Charles Hoskinson, who created....
Gnosis shaped its DAO based on the concept of futarchy. Gnosis, an Ethereum-based platform that facilitates betting on events and other metrics, revealed plans for its own Decentralized Autonomous Organization, or DAO, called GnosisDAO.“This will have the effect of progressively decentralizing Gnosis as a project using a native governance framework powered by their token economy, bringing governance to the coming internet of value,” according to a Monday public statement sent to Cointelegraph. In addition to its prediction markets wing, Gnosis has a multisignature, or multisig,....
The outcome of the U.S. presidential election is affecting how fast Americans will receive their second stimulus checks. With Joe Biden named the president-elect, Americans are eager to know how soon they will receive the second round of direct payments. The Senate goes back into session on Monday when the stimulus discussion will be prioritized. When Second Stimulus Checks Are Coming Many Americans were hoping that a new stimulus package with the second round of stimulus checks would pass before the presidential election. Now that the election is mostly over and former vice president Joe....
Since March 2020, the total balances of bitcoin being kept on exchanges have fallen by nearly 630,000 BTC, roughly a 20% decline.