- May 26, 2014
A big hot-topic in the cryptocurrency world is governance, who gets to make the decisions to run the network. This question is so important that it split Ethereum in two, and threatens to do the same to Bitcoin this year. A well-structured decision-making process is essential to the long-term viability of any project, and digital assets are no exception.
Dash was one of the very first to have a thoroughly-intentioned governance system, and we have that to thank for a very stable and drama-free community over the years. However, there have been some criticisms that the entry price point to being able to have a masternode and vote on governance decisions, once only a few thousand dollars, is now far too high. As such, “community-based governance” is the concept du jour in the cryptoverse, with many clamoring for everyone to get a vote in how coins are run. This might not be the best idea right away, and here’s why I think Dash has it right in delaying implementing a more purely democratic system...