Decentralization & Governance: Can Bitcoin Have Both?
Since the earliest days of bitcoin, decentralization has been key to its value proposition. But it's also been its greatest obstacle. Whether it's the block size debate, or the ethereum classic debacle more broadly, decentralization in public blockchain networks presents significant hurdles to what can seem like straightforward objectives. After seven years of open-source study, decentralized governance remains a little explored and unsolved enigma. But solving it will likely mean going back to the beginning, asking what exactly we mean by 'decentralization'. Do we mean the distribution of....
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Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel that discussed what decentralization brings to Web3 at DeData 2022. With the convenience of centralization seemingly threatening the original crypto vision, decentralization will still help escape a potential dystopian future, according to a panel discussion at the DeData Salon 2022 conference held in Berlin, Germany. Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel discussion dubbed “Shaping The Next Economic Era With Web3 Technology.” Panelists included Paul Claudius, the co-founder of DIA; Hoon Kim, the....
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....
As the price for ZRX surges, the 0x team is taking initial steps towards community governance In a post today on their governance and research forums, the team behind decentralized finance (DeFi) DEX protocol 0x announced initial plans to decentralize their governance by creating a “community-owned treasury seed-funded by 0x Labs.”“As we continue our mission to create a tokenized world where all value can flow freely, 0x Labs intends to experiment with seed-funding a community treasury managed by a DAO,” reads the post. “To establish the DAO, 0x Labs will identify a set of bootstrap....
DeFi ecosystems try to live up to crypto’s decentralized ethos, but single-token governance protocols could prove a challenge. Decentralization is part of the cryptocurrency industry’s core, with various protocols trying over time to achieve the level of decentralization that Bitcoin (BTC) managed to get as it grew organically from a white paper published to a mailing list to a new asset class.Decentralized finance (DeFi) protocols have brought the idea of decentralization to a new level with the use of governance tokens, which give holders the right to vote on or submit proposals....
Debates over-centralization vs. decentralization have always been a touchy topic. Many argue decentralization should be a vital part of the cryptocurrency world as it ensures platforms are not controlled by overbearing authorities or outside third parties. Resistance to censorship and centralized authorities is important as it means blockchain-based platforms can reach markets and empower users in areas with unfriendly governments. In an increasingly hyper-connected world where commerce and the exchange of ideas flows beyond borders, decentralization becomes even more vital to promote....