Mark Mason
Well-known member
First Bitcoin, Now Ethereum Faces Governance Crisis
One month ago, Ethereum’s cofounder Vitalik Buterin said the project’s governance is “not that bad.” Talk about damning with faint praise. Ethereum presently finds itself in the same position Bitcoin was in for several years: a decision needs to be made, but the project lacks a formal governance structure.
What decision?
Ethereum uses a Turing-complete programming language, and that gives users enormous flexibility but it also creates a huge attack surface for malcontents. When faced with the disastrous hack of TheDAO two years ago, the community decided to hard fork the network and essentially turn back the clock to before the hack occurred. In doing so, the network forever gave up any claims of immutability.
Read more: https://www.dashforcenews.com/first-bitcoin-now-ethereum-faces-governance-crisis/
One month ago, Ethereum’s cofounder Vitalik Buterin said the project’s governance is “not that bad.” Talk about damning with faint praise. Ethereum presently finds itself in the same position Bitcoin was in for several years: a decision needs to be made, but the project lacks a formal governance structure.
What decision?
Ethereum uses a Turing-complete programming language, and that gives users enormous flexibility but it also creates a huge attack surface for malcontents. When faced with the disastrous hack of TheDAO two years ago, the community decided to hard fork the network and essentially turn back the clock to before the hack occurred. In doing so, the network forever gave up any claims of immutability.
Read more: https://www.dashforcenews.com/first-bitcoin-now-ethereum-faces-governance-crisis/