Ethereum founder speaks against transferable governance, community responds
Vitalik Buterin wrote that supporting DAOs with transferable governance tokens is contradictory and enables the power-hungry. The governance discussion intensifies as decentralized autonomous organizations (DAOs) become more popular in the blockchain space. The dilemma between giving power to a specific few and the freedom to voluntarily delegate decision power was highlighted in a Twitter thread created by Ethereum (ETH) founder Vitalik Buterin. In a tweet, Buterin brought up an old adage pointing out that power-hungry individuals are not suitable to lead. The Ethereum founder highlighted....
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“As a contested election deepens a crisis of legitimacy, Bitcoin presents an alternative to the existing system of governance.” The post Bitcoin Responds To American Vote Of No Confidence In Electoral Politics appeared first on Bitcoin Magazine.
Proxy system in front of immutable smart contracts will allow changing of internal parameters. Tornado.Cash, the Ethereum mixing service that earlier this year implemented completely immutable smart contracts, has proposed a governance system powered by its own TORN tokens.According to a Dec. 18 post, the proposal will put stewardship of the protocol in the hands of its community of users.An initial distribution of 10 million TORN will be split between early users and developers, a DAO treasury and anonymity miners over the course of the next five years.Anonymity miners increase the....
The Ethereum Name Service (ENS), the entity that controls the decentralized domains built on top of Ethereum, announced it would pivot to a decentralized governance model, opening the door to the formation of a DAO (decentralized autonomous organization). The ENS is now calling for delegates to propose their views to the community in order to be elected. The airdrop of the DAO tokens will open on November 8.
ENS Pivots to Decentralized Governance
The Ethereum Name Service, the organization behind the decentralized domain service on Ethereum, announced recently its intention of....
In reply to yesterday's announcement of Ethereum cloning by Counterparty, Ethereum's co-founder Joseph Lubin commented on a Reddit discussion. He said: "Ethereum will ultimately (March 2015 release scheduled) be more general, elegant and powerful. Ethereum, when released, will be 100% feature-free. Instead of providing a handful of hard-coded features, Ethereum is a decentralized application programming, deployment and utilization platform which will enable developers to build any 'features' they can conceive of." Lubin quoted Ethereum CCO, Stephan Tual, who said: "It went from 'ethereum....
Ethereum co-founder Vitalik Buterins Soulbound Token proposal for a robust identity and reputation system has stirred up the crypto community.Soulbound Tokens or SBTs are non-transferable, non-financialized tokens tied to a unique profile proving verifiable achievements and commitments. Still at the concept stage, its suggested SBTs will be capable of tracking memberships, credentials and affiliations with educational establishments, decentralized lenders and other entities.Supporters say that SBTs could be the use case for the next bull market. But others have likened the concept to....