The Solution to the Breakdown in Public Blockchains Governance
The most exciting thing to happen in the digital currency space since its invention is the controversial hardfork of Ethereum. Unlike much of what has gone before, the hardfork brings to the forefront an immense power of public blockchains, full freedom for all and free market based choice. There is, currently, a debate on whether the fork was successful or not. As we are in the mist of it, all we have is opinions. Mine is that the fork was the greatest achievement in this space since the invention of digital currencies. I’m sure, however, some will disagree, not without reason, but not....
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The top banking regulator in the U.S. has announced that national banks and savings associations in the country can use public blockchains and stablecoins for payment activities. Experts say this is good for bitcoin and its importance should not be understated. Banks Can Use Public Blockchains and Stablecoins The Office of the Comptroller of the Currency (OCC) published an interpretive letter on Monday “clarifying national banks’ and federal savings associations’ authority to participate in independent node verification networks (INVN) and use stablecoins to conduct....
We always hear the word "community" as a reference to the body of players who are supposed to be the stakeholders that care the most about such or such blockchain. This term has been a cornerstone of recent events, like bitcoin's 'block size' debate and the ethereum hard fork, coloring how these events are communicated to the wider public. But what does "community" mean in this context? Defining community. According to blockchain theory, the community is supposed to determine the future of a given public blockchain via decentralized governance and the magic of....
A new interpretive letter from the Office of the Comptroller of the Currency paves the way for stablecoins and public blockchains to be fully integrated in the financial infrastructure.
Input Output Global (IOG) CEO Charles Hoskinson believes Cardano has the edge over Ethereum 2.0 regarding governance. This, he sees as the decisive factor in Ethereum falling flat in the long term. Governance Is Lacking On ETH 2.0 On-chain governance refers to a method of managing and implementing changes to cryptocurrency blockchains. It involves setting […]
The decentralized properties that make blockchain architecture unique can also be its Achilles heel, demonstrating the importance of bringing network governance on-chain to promote a more inclusive and democratized consensus on network upgrades. Governance Transformation Is the Key To Unlocking Decentralization’s Innovative Potential There are many bitter arguments over blockchains, whether involving how they should be run, the consensus mechanisms, implementing changes, or upgrading the frameworks. These debates have often put network communities at odds, creating schisms that....